Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1842-01-05
No. A.


Government and its several agencies, TO receive
on private deposite, gold or silver com or bni-
lion, the properly of individuals, I" he held a"
in other cases of deposites made by individuals
for convenience and security; and 10 issue cer-
tificates of the fact of such deposite having been
made; which certificates shall always be re-
deemed on presentation at the agency where
issued But the amount so deposited shall
never exceed in the whole fifteen millions of
dollars 10 be distributed by the Board among
its several agencies according to the extent ot
their business respectively, and for issuing such
certificates no higher premium shall be denian-
ded, than shall be sufficient TO indemnify against
the hazard of loss and remunerale for the sale
keeping the deposite, and in no instance TO ex-
ceed the one half of one per cent. But paper
issued by the Board and its several agencies,
whether in the form Of bills or certificates of
deposile, shall be redeemabIe only at The place
where issued, unless the Board shall see cause
10 order otherwise.
Sec. 6. And be it further enacted, That II
shall be the duty Of the said Board of Excheqner,
within three months after lis organization, l0
establish such bylaws and rules OF proceeding
as may Judge expedient and proper Tor the reg
ulaon of lis concerns and the government OF
It's agencies; and copies of existing bylaws
and regulations shall be laid before Congress
every year at its annual session.
Sec. 7. And be it further enacted, That the
Secretary Of The Treasury is hereby authorized
and directed 10 cause to be prepared Treasury
notes of denominations not less than five dOf-
lars. nor exceeding one thousand dollars, whicli
notes shall be signed by the Treasurer of the
! cd hx-f
ident of the Board of Exchequer, and made
payable 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
issued; and Treasury notes intended TO be IS
sued by the Board of Exchequer at the seat OF
Government shall be in like form, and shall be
payable 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 signed
shall be kept at the Treasury; and all Treasu
ry notes issued under the authority Of this act
NAV, when redeemed, be re-issued by the Board
and its agencies respectively.
Sec. s. And be it further enacted, That the
amount of Treasury notes issued and outsland-
ing shall not, at any one time, exceed the
amount of fifteen millions of dollars, unless 9TH
erwise ordered or provided by law ; and the
Secretary Of the Treasury is authorized, from
time to time, on the application ofthe Board OF
Exchequer, to furnish for It's own use and that
of its several agencies suitable amount OF such
notes to be used in the transaction of its busi-
ness and all dues to the United States, or any
officer or department thereof, may pc 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 g. And be it further enacted, That the
Board of Exchequer at the seat of Government
and each of its agencies shall settle weekly or
ofener, 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 account;
and it shall be the duty of the said Board OF
Exchequer, and each of lis several agencies at
all times, so to limit its issues that its gold and
silver on hand shall be equal 10 one third of the
amount of such issues outstanding.
Sec. TO- And be it further enacted, That the
said Board of Exchequer may draw bills or
drafts on any of its agencies, and may authorize
any agency to draw bills or drafts on the Board
or any other agency; and may sell and auhOrize
its agencies to sell such bills or drafts for pre-
MUM not exceeding the fair cost of remitling
specie 10 The place of payment, and in no ease
to exceed two per centum on the amount Of
such bill or draft.
Sec IL. And be it further enacted, That il
shall be lawful for the said Board of Excheqnrr
and each of its agencies to purchase domestic
bills Of exchange subject TO the following rule
and regulations:
/. No bill of exchange shall be boueh
which is payable in the same State or Terri,n-
ry in which it is drawn, nor any bill payable
within less than--mles of the place eI
drawing.
2, Bills drawn on places not more than five
hundred miles distan, from the place of draw
ing shall not be drawn for a longer time than
thirty days from date and bills drawn on places
more than five hundred miles from the place Oi