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

"a il agencies hereby created, Ii. -
Sf a. Treasury may cause y be prsn.'s,
rSa md delivered to the excheque,S0'.ssa
Eslscsee1 Sc stock Of the United S,a,s.
49, fern. bearing interest Al rate nv ~
dinr i've per centum per annum 10 an ,s
not exceeding FIVE millions Of dollan ' i
,e,eet &c which shall be payable semia,,a1
and the principle shall be redeenabe
rIeaeure Of the Government af:er the -
tim &C twenty years from the issue ,h,s
Ana i shall Be lawful for the said eY,Is
hoad q sell and transfer the said stock fa.
- silver coin. OF bullion. And it shall i.
duty Of the exchequer board to provide "a,
punetual payment of interest in he
stock az il shall become due and for The i
bursement Of the principal from the proda
other means and resources OF the board and
aoencies. But the faith Of the Governs
nevertheless. shall be pledged for the PAW
of The interest and the principal Of such 10
SEC. IA. And be It further enacted, Thai 81
hoard Of exchequer and its several agsps H.
shall keen separate and distinct sets Of bas
for the purpose Of entering and recordip,
one set. all transactions respecting the co.,
| lion. keeping, and DISTURBING Of the publicn
epue. and transmitting the public moneysis
place to place for the service of Governns
and. in another, all transactions and acco,hl
arising from dealings in exchange and oas
transactions not on Government account. All
ali profits accruing from dealing in exehss
on individual account and from private depa
| ties shall be applied in the first place TO p
ali salaries and compensations, and 10 deia,
all expenses incurred under the AUTHORITY
this act. and the residue thereof shall be M
ced semi-annu ally TO the credit Of the Trea,.
rer Of the United States: Provided, nererAaa M
That, the said board may defer all such creda 81
| to the Treasurer, until the amount OF Pro6ss M
foresaid beyond expenses shall exceed Two
| millions Of dollars, and may retain said anouu
Of two millions as a fund to meet all centa
pencies chargeable on the excheqaer and its
agencies.
| SEC. Is. find be 1t further enacted, Thatd 4
| il shall at any time become necessary to bring
suit on any bill Of exchange or other debt o.
liability arising out of any transactions under
the provisions of this act, such suit may be
brought 10 the name of the United States IN
anv circuit court Of the United States, or any
State court having competent jurisdiction.
SEC. Is find be 1t further enacted, That the
! necessary rooms and vaults for the safe-keep-
| ing of the public moneys and for the transac.
ton of the business Of the board of exchequer
and its agencies shall be provided by the
Treasury Department al the city of Washing.
ton. and in the custom-houses, mint, branch
minis, and other public buildings belonging
| TO the United States, so far as the same can be
furnished without detriment to the public ser.
vice and where the same cannot be so furnish
ID
SEC. II. find be it further enacted, That 1t
shall be lawful for the said board OF exchequer
to appoint as agent for the beard any specie
paying bank in any State in cases where 1t
may not be deemed expedient to establish an
Office or agency of the said board, as hereinbe-
fore provided but such bank shall not be au-
thorized in any event 10 receive deposltes or to
purchase or sell bills or drafts on account Of
the board Of exchequer.
SEC. Is. .Astbe Il turtle, enacted, That full
and exact acooanssof the proceedings of the
board and it's several agencies shall be furn-
ished to the Secretary Of the Treasury as oft
en- as he may prescribe; and it shall be the
duty of the said Secretary to lay abstracts Of
the same before Congress at the commence
ment Of each annual session, and &c furnish
full and particular accounts and statements
of the transactions Of the board and its agen-
cies when required by Congress; and the a
mount of Treasury notes outstanding at the
end Of every quarter shall, SO soon thereafter
as the same may be ascertained, be published
by the Secretary Of the Treasury.
Sec. 10. find be 1t further enacted, That il
any member of the exchequer board, or any
officer or clerk employed in its business or any
of its agencies, shall convert to his own use
in any way, any money or security deposited
with or belonging to the said board or any o.
its agencies, or belonging TO che United States
OF any other person or persons dealing or de-
posting with the same board or any agency
he shall be deemed guilty of felony, and. OF
conviction thereof before any court oftbe Uni
thd States of competent jurisdiction, shall be
Sc ntenced to Imprisonment for term not LEST
than--nor more than---years, and ia
fine equal to twice the sum or value of the
property embezzled.
SEC. 20. find be 1t further enacted, That il
any officer or member OF the board of excheq.
uer, or any of its agencies established unde'
the provisions of this act, shall give or sign
false certificate of deposite having been
made with any same TO be duly entered in the
books of the said agency, or shall be guilty
of any other malpractice by which any res.
possibility Of the said agency, or Of the board
of exchequer, or Of the United States, shall be
improperly created or increased, he shall he
deemed guilty Of misdemeanor, and, on con.
vlction there of in any court of the United
States Of competent Jurisdiction, shall be SEN
fenced to Imprisonment for term not less
than one year nor more than seven years, and
to fine equal to the amount Of the false GER
tifcate so given, or of the bill or draft so issu-
ed or delivered, or to the amount Of the res
possibility so created or increased.