Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1840-01-27
THE SUB TREASURY BILL.

Though the favor of Mr. Prentiss, of the Sen.
ate, we have copy of The sub treasury bill, in
lrodnccd in the Senate on the 9th Of Jan inst, by
Mr.. Wright of New York. It is long containing
% sections and l8 folio fooscap pages: we do not
give it at full length therefore, but faithful alb
stract Those who were present ut the last legis-
lature will see, that this bill is mol the thing which
was, by a miserable locoioco trick, printed at the
expense OF the state and attempted to he paned
eff upon the legislature aud the people as the sub
treasury bill. lf we mistake not, it will also he
seen that this is not the thing which has been pub
Iisfed in sundry ocofoco papers, purporing To he
the sub treasury bill. The simple truth is, that
Mr.. Wrgh! did heretofore introduce, and has this
year introduced, ftco bills the first is the sub
treasury hil and is ne,C in its provisions literally
an unlried expedient," save in the monarchies of
other lands and literally las the Globe said,)
subversive of the whole practice of this govern
nent from the beginning the last is bill for the
security Of the treasury against the dishonesty of
its own officers generally meie collection of
the provisions OF acts which have formerly been
in force; there being nothing new in it, unless it
he the part making unlaithiuIness technically, as
objection to this last bill, if we are correctly ap-
priced and knowing this, there have not been
wanting men knavsh enough to attempt to make
the people believe this to be the measure which is
opposed by the Wings. But to our
ABSTRACT OF THE TREASURY
BILL.
Sec l. Suitable rooms to he provided in the
new treasury building al Washington lol the use
of the Treasurer Of the U. s.. his assistants aud
clerks; also ire-proof vaults and safes Tor the
Keeping of the public moneys which rooms,
vaults aud safes constitutes, and declared to be
the Treasury Of the IT, d, and in it The treasurer
is required to keep the public moneys.
2. The mint i'll Phadelph and the branch
mint in New Orleans constituted places of depos'
it OF public moneys at those points the !reasurers
of these minis having the custody thereof
3. Rooms, vaults, &c. to be provided in the
New York and Boston cuslomhouses, for the Keep
ing Of The public money, and for the use of re
ceivers general who are to have the custody there
d Of
4. Offices to be provided at the expense OF the
U. s., in Charleston, S. G. and ST. Louis, Misson
ri, with rooms for receivers general and vaults for
the public money.
5. The President, with the consent ofthe Sen.
ate, is to appoint four receivers general OF public
money, who are to hold their Office four years un-
less sooner removed-ore in New York, Boston,
Charleston and 81 Louis.
6. The treasurers of the u S. and the minis,
collectors Of customs, receivers general, receivers
at land offices, and all postmasieis, to keep
safely, wnhou: loaping or using, the public mo-
ney by them collected, till ordered TO be paid out
or transferred by some proper officer of govern
ment aud to do all duties as fiscal agents which
may he required 10y law, or 10y direction Of any of
f the Executive departments
Z. The lreasurers ard receivers general re-
quired TO give bonds to the acceptance of the
RI Treasury deparlment-the sum TO be fixed by the
Secretary, and the securities accepted by the So
licitor of that department.
g. The Secretary of the Treasury required to
take new or increased bonds from the deposares
created by the act as soon as occasion requires.
9. All collectors and receivers, when ordered
by the Secretary of the Treasury Postmaster
. General, required to pay over the public money 10
! the treasury at Washington. or TO the receivers
general at Philadelphia, New Orleans, New York,
Boston, Charleston, and ST. Louis.
q TO- Secretary of the Treasury empowered to
transfer The public money at his discretion, and The
Treasurer to draw upon any of the Repositories.
II. All money in the dcposilarlcs to be consld-
cred as deposited to the credit of the treasurer of
the U. S. ut all times subject TO his draft; and
all returns OF money received and paid must be
= made to the Treasury department..
/ I2. Secretary of the Treasury authorized to
appoint agents TO examine the several deposltaries.
l3. In addition to such examinations, each ma
val officer and surveyor, each register OF land
= office, each director and superintendent OF the
i minis, are to make examinations quarterly. or Of
trner if required, of the accounts, &c. OF the re-
\ ceiveIs general collectors, receivers of land off
ces and reasurers, and report to the treasury de
partment
IA. The officers heretofore named 10 lie allowed
for such additional expenses for clerks, chests,
E vunlls, &c as are authorized by The Secretary OF
the Treasury provided that the whole number OF
a.
$4,000, and no clerks salary exceed $500 per
annum.
Is. Tho Secretary of the Treasury rs soon as
practicable, required TO Withdraw balances in the
4 present, and deposite them with the new de-
: positaries.
# l6. Marshas, district attorneys, and others,
having money 10 pay TO the U. $, may pay into
e either of these depositaries.
II IL. q Ulcers OF these deposltarles required tc
/ make an entry of all sums aud kind OF money re
ceived, paid, aud transferred; aud it any one shnl
e convert any part 10 his own use Ivy way OF invest
Il Inent or loan or any other way, such act shall he
@ deemed an embeZZlement, which rs declared lelO-
h ny, TO be punished by Imprisonment from two to
c five years, and fine equal to the sum embezzled
j. lS. Until proper rooms, vaults, &c, are pre-
d pared as before required, the Secretary OF the
Treasury is authorized TO procure others OF banks
j. corporations, or individuals for the time being
n 10 After the Both June, 1910, one fourth o
If the duties, taxes sales of lands, debts, or none
N accrung 10 the U. s., shall he paid in specie, mn
l. the remnnder,n notes of specie patiug han Ks
l. after 3Olh of June ls4l one half in specie; ale
]. 30lh June 1912 three tourIhs IN specie aud aie
tia 3Olh June Is43, the whole Including Postages
a "sha he paid in gold and siieer only or in sue
l. notes, bills, or paper issued under me a"hdr'y
% The u S., as may be directed 10 be received by la'
IS in payment of the public dues'"I
is We believe the part incosed in brackets Ina
been stricken out Inv the Senate. IL was in IN
at original BILL and we have inserted 1t as most I'm
I porlant ilem-lhe entering wedge to nothing les
w. Than an oyershadowng, all-poweriul goUernmen