Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-01-03


la ui id the BoaId Of Eschcquf ~ any agency. 10
purchase any bill drawn by upon any innbrr or oiii-
Ger thrrc ~ which such member OF ofiirtr shall IN
any way Interested; 10 receive any 'site OF any
,rey belonging Ia an, such mein4r OF officer. And
hill sla Le purchased 81 draft sold AT any agency. with
o, the assent Of nj least Of the officers Of such
oncy; nor BY the Board Of EAchequer without the
,.nt OF two Of the members.
sec - Ind BE- further eI,aefed, That no agency
established in any State under the PROVISIONS vi this act
shall contrary 10 an, law which such State may enact,
receive any other dep sites than those d the United
States or make sell drafts purchase bills, other
than such shall be necessary IN the coecton transfer.
and disbursement Of the p'iblc funds.
Sec Is. Ind be II further enacted, That II AT any
time shall be found necessary TO carry the operations
Of ExchcqucI board. and its agencies hereby created
the Secretary 81 The Treasury may 10 be prepared
Issued and delivered to the EXchequer Board certificates
II stock of the United States IN the usual ionn bearing
int rest at rate not exceeding five per oentum per
num- to an amount exceeding five millions Of dollars,
the interest Of which shall be payable semi annually and
the principal shall be rodeemae at the pleasure Of the
Government, after the expiration lweny years from the
ISSUE thereof And ii shall be lawful for the said Ex
chcquo Board sell and transfer the said stock Tor gold
or SILVER CON- OF bullion And IL shall be the duty u the
Fxchcquer Board provide for the punctual paymcn, Of
the n,ocs the said stock i, shall become due, and
fr the reimbursement ol the principal from the profits
and other means and resources oi the Board and It's
AGENCIES Bot the faith Of the Government, nevcrthe
the principal Of such stock.
Sec H. ind be uttrthT enacted, That the Board
Of Exchcquef aud several agencies shall keep sepa
and distinct se5 Of books Tor the purpose of entering
aud recording, set, all transactions respecting the
collection, keeping and discussing the public revenue,
and transmitting the public moneys from place 10 place
for the service Of Government and in another, all
actions and accounts arising from dealings in exchange
and other transactions not on Government account
And all profits accrulng from dealing in exchange on
individual account and from private deposcs shall b.
applied in the first place To pay all salaries and compcn
sations, and 10 detray all expenses incurred under the
authority of this act and the residue thereof shall be
placed semi annually the credit of the Treasurer of
the United States: Prorided, ncrerciess That the said
Board may defer all such credits to the Treasurer until
the Of profits aforesaid beyond expenses shall
exceed two millions of dollars. and may retain such
mount of two millions fund 10 meet all contlngen-
cies chargcable on the Exchcquer and its agencies.
Sec. 10 Ind be hturLcr enacted, That il it shall al
any tune become necessary olg suit on any bill Of
exchange other debt or liability arising out OF any
transactions under the provisions OF this act such sui
may be brought in the Of the United States in any
Circuit Court Of the United States, any State Court
having competent jurisdiction.
Sec. IL. Ind be further enacted, That the
~ rooms aud vaults for the safe keeping OF the public
moneys I'D for the transactions of the business Of the
Board of EXchequcr and its agencies shall BE- provided
by the Treasury Department at the city of Washington
and in the custom houses, mnt branch mln's and 9th
public buildings belonging to the United States. so
lar as the the can be- furnished without dcrImen,
10 the public service aud where the cannot be
furnished. the sald Board may provide others.
Sec. H. lind be II further enacted. That it shall be
law tu for the said Board OF fXchequer to appoint
gent for the Board any specie ing bank in any State
where II may not be deemed eXpcdicnt csab
sh an office agency of the said Board, hcrelnbc
fore povIded but such bank shall be authorized in
any receive deposits or purchase or sell bills
lrattu Mt If 1, ,I II 81,
Sec. ~. .hdbe fioiher enacted, That full and exact
of the proceedings Of the Board aud its several
agencies shabe furnished TO the Secretary of the Treas
ny as often as he may prcscrbe and shall be the duty
OF the said Secretary lay abstracts of the same before
Congress at the commencement Of each annual session.
and Ia furnish full and particular accounts and statements
Of the transactions Of the Board and It's agencies when re
quircd by Congress- and the amount OF Treasury
outstanding al the end OF every quarter shall.
thereafter as the same may be ascorlanc be published
by the Secretary Of the Treasury.
Sec. -. Ind be Il t,rtter enacted, That fany mem
hcr of the ENchequ,r Board, any officer clerk en-
pycd IN ITS business or any of It's agencies, shall
vert To his own use IN any way any money security
deposited with or belonging to SAID Board any Of It's
agencies, belonging to the United States any other
person persons dealing dcpositing with the said
Board an, agency he shall be deemed guilty otelony
and ON conviction thereof before any of the United
States of competent jurisdiction, shall be sentenced IL
imprisonment for term Of not less than - more
than - years, ana 10 me equal to twice the sun
or value Of the property cmbczzlcd.
See. 20 .id be hfrtLer enacted. That if any Officer
member OF the board Of ENchequcr. any Of agen
cies established under the provisions of this act shal
give sign false certificate of depos,e having beer
made with any agency. shall issue or deliver an,
draft bill ocNchsngc without having received the full
amount thereof and cause the receipt olhc same b,
duly entered IN the books Of the said agency or shall b,
guilty Of any other NAL practice by which auv response
by OF the said agency, the Board Of Exchequer. OF
of the United States shall be improperly created OF in
creased, he shall be deemed guilty of misdcmcanor
atd on conviction thereof any othc United State,
OF competent jurisdiction, shall be sentenced mprison
meht ior term OF not less than year more thar
years and fine equal the amount of the falls,
Certificate given, othe bill draft SO issued or de
ivercd, or To the amount oihc responsibility SO crea
ted OF increased.
II ~ u 3! u II ~ OS.!