The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1842-01-15

be endorsed by some one of them when |
ISSUED, and shall be redeemable and re-
deemed, 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 Treasury notes
issued under the authority Of this act
may, when redeemed, be re-issued by
the Board and lis agencies respectively
Sec. 8. AHd be IL further enacted,
That the amount of Treasury notes is
sued and outstanding shall not, at any
one time, exceed the amornt of fifteen
millions of dollars, unless otherwise or
dered or provided by law; and the Sec
rotary of the Treasury is authorized,
from time to time, on the application of
the Board Of Exchequer, 10 furnish for
It's own use and that ofits several agen
cleS a suitable amount of such notes, to
be used in the transactions of It's BUSH
ness; 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 inn
mediately 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 of its agencies
shall settle we ky, or oftener, with all
banks in their neighborhood whose pa
per they may have received, and pay or
collect as the case may be, all balances
between it and said banks; and no indi-
vidual 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 Exche-
quer, and each Of its several agencies, at
all times, so to limit its issues that lis
gold and silver on hand shall be equal TO
one third the amount of such issues out
standing.
Sec. TO- And be 1t further enacted,
That the said Board OF Exchequer may
draw bills or drafts on any OF its agen-
I cies, and may authorize any agency 10
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 rcmltling specie to the place Of
payment, and in no case to exceed two
per centum on the amount OF such bill or
! draft.
/ Sec. II. And be II further enacted.
That it shall be lawful Tor said Board Of
: Exchequer aaI its agencies to pur-
chase domestic bills OF exchange, sub
ject TO the following rules and regula
tions
l. No bill of exchange shall be
bought which is payable in the same
State or Territory in which it is drawn,
nor any bill payable within less than
? -- miles Of the place Of drawing.
I 2. Bills drawn on places not more
than five hundred miles distant from the
place Of drawing shall not be drawn for
, longer time than thirty days from
date; and bills drawn on places more
5 than five hundred miles from the place
e of drawing shall not Ee drawn for a
9 longer time than thirty days from sight
n 3. In no instance shall more be de-
+ ma ded from the seller of such bill, BY
d way of interest or exchange, than an
h interest not exceeding six per cent. pei
+ annum for the time which the said bill
: has to run, and rate of exchange never
: exceeding the cost of RENTING specie
r and in no case to exceed two per cent
,fI And ii shall not be lawful for the BoarC
d of Exchequer, or any agency, to pur
o chase any bill drawn by or upon any
:; member or officer thereof, or in which
J. such member or officer shall in any
n be interested; nor to receive any deposi
st of any money belonging TO any suct
n member or officer. And no bill shall b.
10 purchased, or draft sold at any agency
,e without the assent of at least two of tn,
d officers of such agency; nor by tn
e Board of Exchequer without the assen
t, Of two Of its members.
e Sec. IL. And be 1t further enacted
re That no agency established in any Stat
under the provisions Of this act shall
d, contrary to any law which sue
id State may enact receive any other de
IS posts than those of the United States, o
II make or sell drafts, or purchase bills
as other than such as shall be necessary i
or the collection, transfer, and Disbursement
ne of the public funds
: Sec. I3 Ind be IL further enactec
rs That if at any time it shall be found nj
ar cessary TO carry on the operations of tn
Exchequer Board, and its agcncie
d. thereby created, the Secretary of III
Is Treasury may cause 10 be prepared, i
Sc sued, and delivered to the Excheque
n Board certificates Of. stock of the Uni
= ed States, in the usual form, bearing il
Oh terest at a rate Tot exceeding five pc
or Icentum per annunl, 10 an amount not e.
ed ceediug five millions Of dollars, the il
a. terest OF which shall be payable SEN
Of anr uaIly, and the principal shall be E
nj deema Bile at the pleasure of the Cover
q. LIZ The admiration Of fwani