Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1841-09-04

Secretary of the Treasury any bank or banks and
the same agencies te relinqush at pleasure, and the
same agent or agents TO remove, and to commit 10
such agents agencies or banks, such portion of the
business of said corporation they may think fit.
Provided that nelhcr the said curporation nor any
agent or agents thereof nor any bank or banks
employed 10y the same, shall be authorised to dis,
count promis,ory notes with the means of the said
corporation, but shall employ the same in dealing
in foreign bills Of exchange, including hills and
drafts drawn in one state ol Territory, and payable
in another.
18th. The Secretary of the Treasury to inspect
the books an accounts of the Corporation at his
pleasures and the condition of the Corporation to be
published monthly under the direction of the Sc
cretary. No part of the proceedings to be kept
crct from the government directors.
lSih. No not, lss than for ir dollars shall he
The Corporation shall never have in circulation in
bills more than three times the amount of specie in
its vaults.
18th. The debts due to the Corporation shall
never exceed rs per cent advance the capital
advance.
2Oh The Corporation shall not hold any pub
lie stock unless taken for debt.
2lst. The Corporation shall not pay out any
thing but spcce and its own notes.
22d. No bill of exchange 10 be bought or sold,
aud no loan TO be made in the District OF Columbia
except 10 government.
23j. All notes except ten dollar notes 10 be sign
ed by the President and cashier, and made payable
at Washington or at any of the branch s
The Tens and under may be issued by the branch
2ih The notes shall he received at any of the
branches or at Washington, whether issued there
or not.
25h The officers and agents not permitted to
borrow of the Corporation nor shall any bill &c.
with the name of any of the officers or agents
upon it, in any capacity, be discounted.
The t,ceJM section provides, that in case of the
corporation dealing in merchandise, treble the a.
mount shall be forfeited by the persons giving the
orders
The MirteenM section provides, that in case
more than one million is loaned to the Government,
| or more than one hundred thousand dollars to any
State, wthou, especial law the persons au,horIslng
| it shall forfeit treble the amount of the excess.
The .f0urteenh section makes the bills of the
! corporation which payable on demand rcceiva-
be for all public dues unless the corporation any
/ of lis agencies suspend specie payments
! The fifteenth section requires the corporation to
transfer the public money from place to place, and
jisburse the same without commission or difference
! of exchange.
The sixteenth section directs the public money to
be deposited in the corporation.
The serenteenth section provides, that in case OF
to twelve per cent interest, after protest of the
notes.
The eighteenth section provides for the punish
ment of counteietng.
The nineteenth section is on the same subject
The Twentieth section provides for the punish.
ment of embezz'ement of the funds by any officer
! or clerk.
The tctnfy first section declares that Congress,
shall establish other similar corporation or Bank
| during the continuance of this.
The t,oenty-sceond section provides, that in case
the subscriptions not filled up before The frs
Monday in May next, Congress may declare Tho
law null and void,
The hccnty.third section relates to the proceed
ngs 10 be had in case of a violation Of the chatter
The t,centy, fourth section gives Congress or thu
President, power to sue out an Injunction agans
the corporation in it attempt to carry on any
business not allowed by the act,