Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-02

OF such ao,sa issued either in payment to the pebli
creditor OF on the depCsites ct individuals, thail
never exceed the SEXUAL amount OF specie on hand
inr their redemption. And all dues to the United
States. or any ofcer department thereof, author
zed to receive public dues. may be paid IN gold or
silver CON- IN specie notes sSsed under this net, or IN
the notes OF banks which shall be Immediately con
yeTti6le into specie a, The place where received.
Sec. ~ And be It further enacted, That the
Board OF Exchequcr at the seat OF Government, and
each OF its sgencies, shall settle weekly oener
with all banks in their neghborhood whose paper
they may have received, and pay or collect, rs
the case may be, all balances between il and said
banks; AMI no individual shall be allowed, at any
time, TO stand as debtor TO the Exchequer any OF
It's agencies in account And it shall be the duty Of
the said Board OF ESehequer and each Gifts several
agencies, at all times limit its issues that lis
gold and silver on hand shall be equal. dollar foe
dollar, TO the amount OF such issues outstanding.
See l3. And be It further enacted, That the
Board of Exchcq uer and its several agencies shall
keep separate and distinct sets OF books for the pur
pose Of entering and recording, SET all trans
actions respecting the collection, excepting, and dis
bursting OF the public revenue, and transmitting the
public moneys from place TO place, COR the service Of
Government; and in another, all transactions and
accounts arising fiom the operations in exchange
here nbetore authorized, ani other transaction, not
on Government account. And all profits occruing
from such operations in exchange on individual &C
count and from private deposios, shall bc applied,
IN the hrst place, TO pay oil salaries and compen
sauors, and TO deiny all expenses incurred under
the authority Of this act and the residue thereof shall
DC placed semi-annsolly to the credit # the Troa.
surcr of the United States.
Sec. IL. And be il further enacted, That the
necessary rooms and vaults for the safe keeping OF
the public moneys, and for the transaction of the
business OF the Board OF EScSequer and its agencies
shall DO provided by the Treasury Department at
the city Of Washington, and in the custom, houses
min' branch minis, and other public buildings he.
longing TO the United States, far as the same can
be furnished without dculmeni 10 the public service
and where the cannot be furnished, the said
board may provide others.
Sec. u. And be Il further enacted, That il shall
be lawful for the said Board of Excheauer TO appoint
as an agent for the board any specie paying bank
IN any State, in cases where il may not be deemed
sxpedient TO establish an Office or agency of the
said board as hereinhefore provided but such bank
shall not be authorized in any event to receive dc
poslies, or TO accept sell bills drafts on account
OF the Board of Exchequer.
Sec. l6. And lie II further enacted, That full and
exact accounts of the proceedings Of the board and
It's several agencies shall be furnished to the Secre
tary OF the Treasury rs often he may prescribe;
and u shall lie the duty of tho said Secretary TO
lay abstracts OF the same before Congress al the
commencement of each annual session, and 10 furnish
full and particular accounts and statements of The
transactions Of the board and lis asenc rs when re-
CURED by Congress; and the amount OF specie notes
outstanding at the end of every quarter shall, so
soon thereafter as the same may be ascersined, be
published by the Secretary Of the Treasury
Sec. IL. And be il further enacted That If anv
member OF the Exchequer Board, or any officer or
clerk employed in its business or any OF its asen-
eles, snail convert to his own use, in any way any
money or security deposited with or belonging 10
the s1d board or any OF its agencies or belonging 10
the United States. or any other person or persons
dealing or deposng with the said board or any
agency, he shall be deemed guilty of felony and Oh
conviction thereof before any court Of the United
states OF competent jurisdiction, shall DC sentenced
10 imprisonment for term not less Than nor more
than = years, and TO a fac equal TO twice the sum
or value OF the property embezz ed.
Sec. i. And he II further enacted, That If any
officer or member Of the Board of Ex,hequer. or
any OF IT'S agencies established under the provisions
OF this act, shall issue any specie note or make ac
cept, or deliver any draft bill OF exchange with
out having received the fu! value thereof in specie
and caused the receipt OF the same to DC duly en-
tered IN the books Of the said agency or shall be
guilty OF any other malpractice by which any re
sponsioilty oil The said agency, OF the Board of
txehequer, or OF the United States shall be impro.
perry created or increased, he shall be deemed gull
~ OF ateony. and on conviction thereofin any court
OF the United States Of competent jurisdiction shat
oe sentenced TO imprisonment for term not less
IMAM one year, nor more than seven wears and 10 a
hne equal 10 the amount OF the spece note so issusd
or OF the bli! or dra so made, accepted or deliv-
cred, or TO the amount Of the responsibility so esea
ted or increased.
Sec. 10. And be it further enacted. Thn, the Sc
cretaTy OF the Treasury shall have power, at his
discretion, by himself or by an agent duly ppoint-
ed 10y him, 10 examine the officers ami clerks Of the
EIchequer snd It's agencies on oath or affirmation.
Touching all matters relating 10 the EXchequer or
us agencies or either OF them; which said oath the
SAID Secretary, or said agent is hereby authorized
10 administer. And Il any person so examined
shall wiiuly make any false statement, or wilfulv
refuse TO disclose or declare the whole truth. such
person shall be deemed guilty Of wfui and corrupt
perjury, and shall suffer The pains and rsnsities
thereof on conviction before any court competent 10
/ try the same. And the said Exchequer and asen-
cies shall, at all times, be open to examination v
any committee appointed by Congress, or either
House thereof
Sec. 30. And be it further enacted, Tha, all acts
and parts OF acts inconsistent with the provisions Of
this act be and tie same are hereby repealed