Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1842-01-14

duties Of commissioners Of losns, IN receiving
snbscriptions, transferring stock, and paying
dividends & interest thereon, under Inc oiIsc,
lions Of the Secretary Of the Treasury. avn
shall render to the Treasurer Of the Uni!eu
States all necessary facilities fof transferring
and disbursing the public funds as shall pc re-
ouired by him, and shall perform all the dniles
Of pension agents under the regulations PrescI-
bed BY the Secretary Of War, and shall render
and perform all other d0ties and services - re-
lation to the collecting, keeping, and dlsnurs,
inc Of the public funds as shall be prescrlDed
bv law Or By the Secretary of the Treasury.
Sac. s. md be It further enacted, That u
shall be lawful for the exchequer AZ me sea' =
Government, and its several agencies, % 'o
ceive on private deposite gold or silver com .
bullion, the property Of individuals, 70 ne ns:I'
as in other cases of deposites made Dy inoiv!u-
uals, for convenience and security, ana % IS
sue certificates Of the fact Of such deposlte iav-
iog been made; which certificates shall always
be redeemed on presentation at the agency
where issued. But the amount 80 dePosileo
shall never exceed fifteen millions Of dollars,
to be distributed by the board among its sew
eral agencies according to the extent OF their
business respectively; and for issuing socn
certificates, no higher premium shall be de.
manded than shall be sufficient to indemnify
against the hazard of loss and remunerate Tor
the safe-ke eping the deposite, and IN no ln-
stance to exceed the one-half Of one per cent.
But the paper issued by the board and its sew.
eral agencies, whether in form OF bills or OF
certificates Of deposite, shall be redeemable on.
" at the place where issued, unless the BOARD
shall see cause to order otherwise.
SEC. 6. find be 1t further enacted, That II
shall be the duty Of the said board of excheq-
uer, within three months after its first organic
cation, to establish such bylaws and rules OF
proceeding as it may Judge expedient and prop
er for the regulation of its concerns and the
government Of its agencies; and the copies of
all existing bylaws and regulations shall be
laid before Congress every year at It's annual
session.
Sec. 7. find be It further enacted, That the
Secretary Of the Treasury is here by authorized
and directed to cause to be prepared Treasury
notes Of denominations not less than five dol
lars nor exceeding one thousand dollars, which
notes shall be signed by the Treasurer OF the
United States and countersigned by the presl-
dent of the board OF exchequer, and made pay
able to the order of the principal agent at each
agency, and shall be by him endorsed when
issued at such agency, and which notes shall
be redeemable and shall be redeemed in gold
and silver, on demand at the agency where IS
sued and Treasury notes intended to be issued
by the board of exchequer at the seat OF Gov
eminent shall be in like form, and shall be pay
able 10 the order of the commissioners, and
shall be endorsed by some one of them when
issued, and shall be redeemable and redeemed,
at said board. on demand, in gold and silver;
and exact and perfect lists of all notes so sign
ed shall be kept at the Treasury and all Trea-
sury notes issued under the authority Of this
act may, when redeemed, be re-issued by the
board and its agencies respectively.
amount Of Treasury notes issued and outstand-
ing shall not, at any one time, exceedNthe a.
mount of fifteen millions Of dollars, unless
oA1sssgise ordered or provided by law and the
Secretary ofthe Treasury Is Authorized, from
time to time, on the application of the board
of exchequer, to furnish, for its own use and
that Of its several agencies, suitable amount
of such notes, 10 be used in the transaction of
its business and all dues to the United States,
or any officer or department thereof, may be
paid in gold or silver coin, in Treasury notes
issued under this act, or in the notes of banks
which shall be Immediately convertible into
specie at the place where received.
SEC. 9. And be 1t further enacted, That the
board of exchequer at the seat of Government,
and each ofits agencies. shall settle weekly, or
oftener, with all banks in their neighborhood,
whose paper they may have received, and pay
or collect, as the case may be, all balances be.
tween it and said banks and no individual
shall be allowed at any time to stand as debtor
to the exchequer or any of its agencies in ac-
count; and it shall be the duty ofthe said board
of exchequer, and each of its several agencies,
at all times, so to limit its issues that its gold
and silver On hand shall be equal to one-third
the amount of such issues outstanding.
SEC. 10. find be 1t further enacted, That the
said board of exchequer may draw bills or
drafts on any Of its agencies, and may author
ize any agency to draw bills or drafts on the
board or any other agency. and may sell and
authorize its agencies to sell such bills or drafts
for premium not exceeding the fair cost Of
renting specie to the place of payment. and
in no case to exceed two per centum on the a.
mount of such bill or draft.
SEC. IL. find be 1t further enacted, That it
shall be lawful Cor said board of exchequer and
each of its agencies to purchase domestic bills
of exchange, subject to the following rules and
regulations:
l. No bill of exchange shall be bought
which is payable in the same State or Ter
ritory IN which it is drawn, nor any bill paya-
BILE within less than miles of the place
of drawing.
2. Bills drawn on places not more than five
hundred miles distant from the place Of draw
ing shall not be drawn for a longer time than
thirty days from date; and bills drawn on pla-
ces more than five hundred miles from the place