Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-12-29
TWESTY-sEyENTII CoNGREss--2d Session

4 BILL amendaiOry II the Seccrat 7ctS establishing
the Treasury Department.
Sec BE it enacted by the Senate and Hoase % he
personalities Of the United States Of 7mer,eG IN Con-
,tss assembled That there shall be, and hereby Is
created and established in the Treasury Department at
the Seat OF the Government OF the United States, a
Board 10 be called the Exchequer OF the United States
Ia be composed of the Secretary OF the treasury ior Tue
time being the Treasurer of the United States Tor the
time being, and three Commissioners TO be appointed
hv the President with the advice and consent OF the
Senate-one OF the said Commissioners iirst appointed
10 be appointed for two years, one Tor ion years. anu
one for six years. and vacancies subsequently occurring
20 be SO filled as that vacancy shall regularly occur
nj the end of every period OF two yearshe SAID Com
,n,ssouers not 10 be removed from office, except for
physical inability incompetency, or neglect or Voa,
ION of duty and in of any such removal, shail
be the duty of the President to lay the reason thereoi
before the Senate And, the rst organization Of le
Board one Of the three Commissioners snail, by me
,oembers thereof be elected President, who shall hold
his Office for two years and like manner, new eiec-
ton shall take place afterwards at the emu oil e&@h sue
eessiye period Of years And the Secretary oil Tue
Treasury shall have authority TO appoint all Scn me
or ofsers as in the Judgment al the Hoard The ansac
lion of liz business inag require, the amount q. their
spec,ve compensatons 10 be liked by the Board, WAC
may take bonds for the faithful discharge oil their duty
for suci, sums and such manner 40 the Secretary
The Treasury shall direct And each OF The sad Com
,nssioners shall receive annual salary Oh dol
lara. ~
Sec 9 ind bc further enacted, That The SAID 'oarC
Of Excequer shall have power to establish agencies OF
Offices in such Of the cities or towns al the STATES as
Territories OF the United States may Judge expe
dent nn! exceeding two III any State or leFrory, ana
sn wherever Congress may by law require lie same tt
be established and such oieers and agents as may ny
the Board of Exchequer be thought necessary Tor the
management Of such agencies, and the transaction
their business shall be appointed by the Secretary
The Treasury on the recommendation oil the Board o
Excheauer and the said Board shall have power to IN
the amount Of the respective compensaticns OF suct
o.c, w and 10 provide regulations ior the government
Of such agencies the Transaction OF Their business, ant
the rendering accounts of all their proceedings ant
m such regulations they shall assign anu arrange ht
du,ies of the officers of the said agencies, as that one
those officers shall be check aud control upon tht
other and for tha purpose they shall require That t
accounts and proceedings OF each shall be entered
nroper books And any Of the officers OF the sai'
agencies may be removed by the Secretary OF the Urea
spry for physical inability nconpcency or neglect
or violation of duty but it shs be his duty to stat
evcry removal of any principal officer Of any agency
with his reasons therefor, his general annual repof
Of the transactions Of the ExcheGuer
Sec g. ind be IL further enacted, That The sad f,x
cheouer and it's officers shall be the general agents oil In
Government of the United States for receiving, sal
keeping and dis ursing the public moneys, ana trans
ferrnr and transmitting the same under The direction
The Secretary Of the Treasury; and all public money
received from whatever sources shall, under the sani
directions be paid the SAID Exchcquer or IFS agen
cies and the principal officers employed III such aSen
cies shall give bonds to the United States Tor sue
amount and in such form the Secretary OF The Urea
enrv shall prescribe for the faithful performance OF the
uties And the said Board Of Exchequer and its seve
raj agencies shall pay all warrants, drafts, or order
made thereon hy the Treasurer Of the United States
and by all disbmrsing officers and agents OF The Govern
ment having authority 10 make such drafts OF orders
And every such payment shall he made, at the optio
of the person entitled receive it, in gold and silve
COIN or in Treasury notes.
SEC A. ind be IL further enacted, That The said FIX
eheouer and its officers shall perform the duties OF Com
nssioners Of Loans, in receiving subscriptions, trans
ring stock, and paying dividends and interest there
On, under TIE directions of the Secretary of the 1rea
sn,y. and shall render to the Treasurer of the Unite
States all necessary facilities for transferring and dis
bursting the public funds rs shall he required by hun
and shall perform all the duties OF pension agents ul
der the regulations prescribed by the Secretary OF
and shall render and perform all other duties and ser
vices in relation the collecting safe keeping aud dis
bursting of the public funds shall be prescribed b.
law or by The Secretary OF the Treasury
Sec s. Ind BE- IL further enacted, That It shall b
lawful for the ExcheGuer at the Seat OF Government,
and several agencies to receive on private acposi
gold or silver coin bullion, the property oil lndip
usls 10 be held as in other of deposits made b.
individuals for convenience ani security and 10 ssu
certificates of the fact of such deposit having beef
made which certificates shall always be redeemed Of
presentation at the agency where issued. bnt IN
amount so deposited sh'n htNSt e"'.e" :" l ""
fifteen millions Of dollars, TO be distributed by tn
Board among the several agencies according !" The ex
tent Of their business respectively and for issuing sue
certificates, no higher premium shall be demanded thar
shall be suficien, to indemnity against the hazard
loss and remunerated for the safe keeping the deposit
md IN M instance TO exceed the onchaif OF one pc
cent But paper issued by the Board and its severa
agencies. whether in the form Of bills or of certificate
of deposit, shall be redeemnble only at the place where
sued unless the Board shall cause to order other
wise. ~, , I'm !,
Sec s. lind DC /, further enacted, That II shai OF
-, n,v NJ the said Board Of Exchequer, within three
months after its first organisation TO establish such by
laws aud rules of proceeding may Judge exPeden
and proper for the regulation of its concerns ond ln
government OF It's agencies and copies OF all ex'stnE
bylaws and regulations shall be laid before Congress
every wear at lis annual session.
& SEC I find be Il further enacted, That the Secre
sar of the Treasury hereby authorized and directed