The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-23

Keeping and disbursing the public moneys and transfer
the Secretary Of the Treasury and all public moneys
received from whatever sources SHALL under the same
directors be paid into the said Exchsquer or m sgen
ces and the principal officers employed in such agen'
ces sh II give bonds to the United States for such
amount and such form as the cretsy Of the Treasury
PIescrhe for the faithful Performance Of their dn
e And the said Board Of Exchequer and its severai
agencies shall pay all warrants, draf orders made
all dsbursipg officers and agents OF the Government
having authority to make such drafs orders And
psrson entitled in gold and silver COIN in
specie notes. to be Issued in form is hereinafter
prescribed. Butsu notes shall exceed the &C
tual amount Of specie holden for their redemption.
Sec. 4. And be it further enscted That the said Ex
chsquer and its officers shall perform duties Of
ring Stock and paying dividends aad Interest thereon
under the directions oil the Secretary Of ths Treasury
and shall render the Treasurer Of the United States
ali necessary acts Tor transferring and disbursing
the public funds shall be required By him. and shall
peIfsrm all duties Of pension agents under tie regu
render and perform all other duties and services in rela
ton to the collecting, keeping and disbursng of the
pubic funds shall be prescribed by law or BY the
Bee. And be further enacted That it shall be Law
several agencies, receive private deposite gold
slve coin, or bsllion the property Of to be
held as in other Of d.pose: made by individuals
for the same in such fJim os the said board shall pre-
scrb', which notes shall always present.
alton ct the agency where issued hut the amount de-
posted shall exceed in the whole fifteen millions
Of dollars to bedstrbutsd by the board among its seve
raj according to the extent Of their busnes
respectively and for issuing such specie notes high
or premium snail be demanded than shall be fcien
iademny against the hazard Of loss and remunae for
ceed the half of per cent Bat specie notes is
sued by the board aud its agencies shall be
desmable only at the place here issued unless board
shall see aus to order otherv ise
sec And be 1t further enacted That the Secretary
Of the Treasury is hereby authorized and directed
cause De prepared specie notes. Of denominations not
less than five dollars exceeding one hundred dollars
which notes shall be signed by the Treasurer of the
Uned States and coun.eIsgned by the President Of the
Board of Exchequer and to the order Of
the principal agent at each agency shall by him
,nd s ass
silver on demand, at the agency where Issued. And
specie notes intended to be issued by the Board of Ex
and shall be payable 10 the order Of the commissioners
and shall be endorsed by Of them when issued
demand In gold and silver; exact and perfect lists
Of all notes SO sgned shall be kept at the Treasury
And notes Issued under the authority of this
- agencies respec lively. sl
Sec. And be it further enacted, That it shall be
lawful for the Exchequer at the seat of Government
and its several agensies the deposte of gold or sill
yer coin or bullion pay ment therefor to draw bills
oiexchangs msde payable at said Exchsquer, or any
aud also to accept bills Of exchange the amount Of
which bills and acceptances shall case exceed the
sum 50 deposited And sush bills Of exchange and &C.
cepances shall be signed and countersigned in such
manner as the said board shall prescribe. N
D. enacted,
OF exchange or acceptance the Exchequer agency
which such bill or acceptance 10 made shall be entitled
to receive just and PREMIUM exceeding
the fair cost Of remng specie TO the place Of
and in no case TO exceed per cenum ON the amount
Of such bill or acceptance.
Sec And be II further enacted That shall be law.
full for tho said Board of Exche quer ard each of its
agencies, under regulations TO be prescribed by the
Beard srsceive and take charge Of collection such
drafts or bills OF exchange a. may be deposited with
them for thst purpose, drawn any place where an
office Of the Exchequer msy be established but in no
Of such drs Or bill, until Il shall have beea actually
cOlleced, and advice received Of
upon the proceeds shall be paid to the emit
tied 70 receive thu at the Office where said draft
or bill was originally deposited for transmission and COL
deducting thersirom such reasonable charges
and commissions may have been agreed upon which
collected. e9~ w q y Al
Sec TO- And be il further enacted That IL shall he the
duty of the said Board Of Exchsquer, within three
months after its 6rs organization to establish such by
laws and rules Of proceeding may judge exredient
and proper for the regulation Of its and the
government Of s agencies and copies of all existing
by laws and regulations shall be laid before Congress
every year at its annual session.
Sec H. And be further enacted That the Secretary
OF the Treasury 10 horiz ed from time time
application Of the Board Of Exchequer to furnish for It's
use, and that Of its several agencies suitable
amount Of specie notes. to he used in the transaction Of
it's busness but the amount Of such issued either
in ment to the public creditor the depostcs Of
individusls, shall exceed the actual amount of
specie hand for their redemption. And all dues 10
to receive public dues nav be- nsid IN rola
or silver CON- IN specie notes issued under this in
the notes Of banks which shall be immediate convert
BILE int specie OF the place where received.
Sec II. And be it further enacted That the Board of
Exchequer at the seat Of government and each Of its
agencies shall settle weekly or oftensr with ell banks
ceivea end pay collect the may be, all bal.
ances it and said bsnks and individual shall
be allowed al time, 10 stand debtor to the Exche
quer or any Of It's agencies in account And IL shall
tbs duty Of the said Of Exchequer and each Of
several agencies at all times 80 to limit ito rsues
han ha far
dollar, to the amount Of such issues outstanding.
Sec - And be it further enacted, That the Board of
AID distinct Of purpose Of entering and
recording, in Get al. respecting the col
and shifting the public moneys from place 10 place
for the service oil Governmes and in another altraps
change herein before authorized und ether transactions
not on Government account. And all profits accrung
from such operations in exchange individual
and from private deposes, shall be applied in the first
place, pay all salaries and compensaons and to de-
fray all expenses incurred under the authority Of this
ast and the residue thereof shall be plac ed
ly the credit ofthe Treasurer tine United States
Sec IL And be il further enacted Tha. the necessary
rooms and vaults for the sf keeping ofths public mon
and Tor the Transaction Of the business Of the Board
Of Exchequer and its agencies, shall be divided BY the
Treasury Department at the city Of shington, and in
buildings belonging to the United States, the
be furnished without dstriment to the public
service and where the same cannot be furnished the
said board ma, provide others M
sec Is. And be Il further enacted, That 1t shall be
lawful for the said Board Of Exchequer TO appoint
agent for the board any specie bank in any State
in where may be deemed expedieni to esta
blish Office agency Of the said board hercinbe
fore provdsd but such bank shall not be suthozsd in
asy event to receive depostes accept sell bills
or drefss on account Of the Board Of Exchfquer y
Sec 10. And be it further enacted, That full exact
accounts of the ngs Of the board and its several
agences shall Secretary Of the Treo
sury as often % be MAJ prescribe and it shall be the
duty Of the said Secretary lay abstracts Of the
before Congress at the commencement Of each annual
session. and to furnish full and and
tements OF the transactions OF the hoard and It's sgen
O. when required by Congress and the amount ofspe
Gle notes outstanding at the end Of every quarter SHALL
30 soon thereafter q tho same may be sscertsned be
published by the Secretary Of the Treasury. lfa
Sec. IT, And be II farther enacted That II any mem
r Of the Exchequer Board, any officer clerk
ployed in ita buslness any Of lie agences shall