State rights and democratic union. (Yazoo City, Miss.) 1839-18??, 1839-09-24

II (, ryaHchts on the ms.
|s sIa!i DC lawful for the T rollc ACCOM-.
United States 10 draw uno0 'leasurer Of re
repositories as he may thint 10y Of DE san
e the public creditors !, IN most cOnduc,'ul
Sec. IL. And be il furths, oO'n'
money 10 the hands, eere and T c"'l That lhc
o. the repositories cons,ituteS SuS.Ody Of am
shall be considered and held !. y this act
the u credit OF the Treasurer - deposited 70
states; nd shall be at all timoS Tue United
ofaII' whether made for transfer I !: S tOhs
mem, IN the same manner as thoUah ul'sOurse.
moneys were actually in the Tre.ss. The said
United States, and each deDo easuty Ofthe
make teturns to the Treasury Duly shall
AL moneys received and paid bv 4 p;al'NeM Of
times and in such fOrm as shall I ~ 't'uch
by ne Secretary of the Tressprv Oe Detected
Sec. IL. And be it further er.o,
whenever public moneys shall acted That
the hands Of any depository co,"s.uu!lhulatein
S act, other than the Treasury ~ BY
States tina Treasurer of the Mi1, ~ ~ ne y.
states, the Treasurer of the branch 1ne U.
New Orleans, and the receiver. S" Mint at
public money, to an amount bevooiy general Of
cured by the bond of the officer NV mat Sc.
Secretary of the Treasury shall for ~ s winch the
consider unsafe, and it shall not he %. cause,
to tansier the moneys SO accumnls,' Unstable
other depository, it shall be lawc'I 'u 10 any
said Secretary to direct the said nn. iOl The
any portion lhereof' to be specially de6o.;, o.
10 such bank Of the State or Terriio'v p ~s"
10 the depository who Is to make ,ba d "ucre'
tie, is located, as he, the Secret,yv . uJPOSlt'
lect and name: Provided. the ham ,S oal' Sc
ed will agree to receive & keen ,ba 80 select
deposited with it upon the terms and " "
ed. NJ P'eScHb'
Sec. Ii. And be it further enacted w..
the special dePosites of the mcnevs su,ha aHa'
ed by the last preceding section of hi. ~.
to be made upon the following terms AMI I c r.'
dltlons and upon no others, namely: ''"'
First: All such deposites sail be stroll,
special depOsltes, and the bank, boId;n,
them shall be prohibited, in the most efFsc,T
al nannet, from making any use Of the mon
eys deposited, by way of discounts, loans .,
IN any other manner or for any other Dur.
pose whatsoever, and TO secure the ful6Imer,
of this condition, the Secretary Of .he Treas
ury is authorized in his discretion, to furnish
the bandks selected as deposite banks with
safes for the keeping Of the public MONEY
exclusively; and under the joint control Of
the hank and some designated officer Of the
Government, or to adept snch other guards
as he shall prefer.
Second: Nothing but gold or silver, or such
Icotcs, bills or paper issued under the author
ity of the United States, as may be directed
by law 10 be received in paymentof the pub
lie dues shall be offered for depocite, or Ie-
ceived by the bank as dcpo>ites shall be
effrred for deposite, or received by the bank
as deposite under the provisions of this act.
Third; All depostes shall be passed upon
the bocks Of the bank, TO the credit of the
depository making the same; but on moneys
deposited in pursuance Of this act shall be
Withdrawn without the express order Of the
Secretary Ofthe Treasury for the payment; and
no draft of the Treasurer Of the United States
or orders or warrants OF the Secretary o. the
Treasury, for ordinary transfer or disburse.
ment, shall be made upon any bank under
this act.
Fourth: 4 commission, such as shall be
agreed upon between the Secretary OF the
Treasury and the bank, not in any case to
exceed one eighth Of one per centum upon
the moneys deposited with it, shall be allow
ed and paid by the United States in full sat'S'
faction of all claims on the part OF The bank
for trouble and risk growing out Of the re-
Iceip,, safe keeping and disbursement OIL tut
special depsites herein authoized TO be MADE
all accounts for commission TO be audite'
and paid a, the Treasury Of the Unite
States.
Sec. ID. And lie il futher enacted, Ina
in case no bank within The State OF Telnt(
~ wherein the depository, directed TO max
Ideposites, is located, viii consent to racelV
the MONEYS of she Government upon sPeci,i
deposite according to the foregoing coma
lions. then it shall be lawful f'r inc 0ecteta
~ of the Treasury TO select some oanK ID a
attaining State OF Territory, such as may D
most convenient for the officer to make de
nosites. and the public service; and III cas-
IN convenient hank of either character ca
he found willing 10 receive such deposite
uDon the terms proposed. the Secretary ma
transfer the same to the Treasury of the |
states. TO the Mint. or branch MINIS, or
the Offices of either of the receivers gener;
IF the public moneys, as shall be most cor
pcnient 10 the depository from whom tn
money is TO be transferred, or to the wants
he public service in reference to disbnrst
nents.
Gee. Is. And be 1t further enacted, Ina
the Secretary Of the Treasury shall be an
is hereby authorized to cause examlnsUon
10 be made of the books, accounts, and III
news On hand, OF the several repositories Co