The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-12-31
THE FISCtLiTI,

We give below synopsis of the bill umcndalory
ofthe several acts establishing the Treasury De-
partment-in other words, the FISCAL Scheme Of
President Tyler. 1t is extracted from the NJ Y
.4mericGa
Soc. Crcn,os in the Treasury Department al
Washington an EAchequer Board, to te composed
OF the Secretary OF the Treasury, the Treasurer,
ana three commissioners, 10 be appointed by the
President aud SeGnte--o hold for Two, four, and
SIX yenrs-so that one vacancy shall occur every
Two years, not removable except for causes specl-
fed, &c. One of these Commissioners 10 be Pre-
sdcnt--to hold for two years. Secretary ii tho
Treasury 10 appoint all subordinuIcs
Sec. 2, ESchequer may establish agencies no.
exceeding two in each State, Agents to be APP
pointed aud removable for cause by Secretary Of
Treasury.
See. 3 and !, Exchequer and its agencies to
be the fiscal pension, and loan agents OF The Uni
ted States 10 be paid, at the option of the holder,
in coin or Treasury Notes.
Sec. 8, Exchequcr and agencies may receive
private dcposes oicoin and issue certificates there.
for, never charging over l-2 per cent lhelcicr.-
such depoSes never to exceed fifteen millions:
certificates, aud all other paper issued, rcdcenabls
only where issued.
Sec, 9. Requires establishment Of proper by
laws, SC.
Sec. I. Authorizes issue Of Treasury notes in
sums fom So to s ,OOO-redcemube ia coin at
the office where issued and re-issuable.
Sec. s. Outstanding amount of Treasury Notes
never TO exceed fifteen millions
Sec, O. EXchequer and agencies to settle week.
y with bunk swth which they deal, and never 10
have less han one third Of the amount offs out
standing paper Ia coin.
Sec 10. ESchcquer may draw on its agencies
and vice versa, never charging more than the cost
OF transporting specie, and IN no case over 2 per
cent.
Sec IL. Eychcquer and agencies may buy bin,
OF Exchange not payable IN same State, and drawn
not within miles of place of pa, ing; ard if with
in 5000 miles, il not longer date than 80 DAYS
date; over 500 miles, Of 80 days sight The seller
not to he changed The rate orcyer per cent inter-
est and the cost Of transporting specie.
Sec. IL. No agency 10 receive private deros-
ties or purchase exchanges or sell drafts except for
The objects Of the Treasury, in any State where for
hidden by the laws of such State.
Sec. IS. Authorizes an issue Of five millions Of
five per cen; stock, 10 aid Operations Of Eschc-
quer, ifrequired: which stock may he sold and in
erest and ultimate principal be redeemed By Exi
chcqucr-the whole, however, under guarantee Of
the L. States.
Sec. II Requires tha, public accounts and pri-
NHte dCCouHis oc htpt III separate DOORS, ana mat
profits of private business to pay all salaries and
expenses and balance go 10 the Treasury. rxcep,
that no balance shall be so appropriated until over
$4,000, 900 accrue Two millions to be left as a
contingent fund.
Sec. 10 Suits 10 be brought in the name of tho
United States
Sec. l6. Vaults, Sc, (Sub-Trcnsury,) to be
provided in Washington, and in the MINIS and
Custome House
Sec. II. ESchequer may appoint any specie
paying bank its agent, but no such bank 10 receive
the dePosites and deal in exchange on account Of
EXchcquer.
Sec Is. Accounts in detail TO be made 10 the
Secretary Of the Treasury often as required and
bv him submitted TO Congress; outstanding Treas
ury notes at every quarter TO be published
Sec. 10 and 80 denounce as misdemeanors or
felony. according 10 the case, all enbezzcment
filse certificates en- the part Of Exchequer Commits.
sioners or agents.
From this abstract, readers, who NAV not choose
10 read the whole BILL will understand its nature
and power.