Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-01-07


Loans. in receiving su subscriptions, trans.
ierrIng stock, and paying dividends and
interest thereon, under the directions
ol the Secretary Of the Treasury, and
snail render 10 the Treasurer of the
United States all necessary facilities
Tor transferring and disbursing the pub
'Ic funds as shall he required by him,
and shall perform all the duties of pen.
SION agents under the regulations pre- =
scrIbed by the Secretary Of War, and
shall render and perform all other du-
ties and services in relation to the COL
lectlng, keeping, and disbursing of The
PuO'ic Iuods as shall be prescribed by
"a" or by the Secretary Of the Treasu
ry.
Sec 8. And be il further enacted, That
It shall be lawful for the Excheouer at
the Seat OF Government, and its seve raj
agencies, to receive on private deposte
gold or silver coin or bullion, the pro-
Perty of individuals, TO be held a. in
other cases of deposites made bv indi-
VIduaIs for convenience and security
and to issue certificates Of the fact of
such deposte having been made, which
certificates shall always be redeemed on
presentation at The agency where issued.
But the amount so deposited shall never
exceed in the whole fifteen millions Of
dollars, to be distributed by the Board
among its several agencies according TO
the extent Of their business respective.
"; and for Issuing such certificates no
higher premium shall be demanded than
shall be sufficient TO indemnify against
The hazard Of loss and remune ration for
the safe keeping Of the deposite, and in
no instance to exceed the one hall Of
one per cent, But paper issued by The
Board and its several agencies, whether
in the form Of bills or of certificates of
deposite, shall be redeemabIe only at
the place whore issued, unless the Board
shall see cause to order otherwise
Sec. 6 And be 1t furthe, enacted, That
IT shall be the dury OF the said Board Of
EXchequer, within three months after
It's first organization, to establish such
by laws and rules Of proceeding as II
may Judge expedient and proper for the
regulation Of its concerns and the gov
ernment Of its agencies; and copies of
all existing by laws and regulations
shall be laid before Congress every year
at its annual session.
Sec 7 Aad be hfurther enacted, That
the Secretary Of the Treasury is hereby
au horize1 and directed to cause to be
prepared Treasury notes Of danomina-
tlons not less than five dollars nor ex-
ceedlng one thousand dollars, which
notes shall be signed by the Treasurer
Of the United States and cuunte rsipued
by the President of the Board of Excbe-
quer, and made payable to the order Of
the principal agent al each agency, aud
shall be by HIM endorsed when issued
at such agency, which notes shall be
redeemable and shall be redeemed in
gold and silver, on demand, at the agen
cy where issued; and Treasury notes in
tended TO be issued by the Board Of Ex.
chequer at the seat of Government shall
be in like form, and shall be- payable to
the order Of the Commissioners, and
shall be endorsed by some one of them
when issued, and shall be reasonable
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 Treasury notes
issued under The authority Of this act
may. when redeemed, be re issued by
the Board and its agencies respectively
Sec s. And be tfmthe' enacted, That
the amount Of Treasury notes issued
and outstanding shall not At any one
tine, exceed the amount Of fifteen mil
lions of dollars unless otherwise ordered
or provided by law; and the Secretary
OF the Treasury Is authorized from time
to time, on the application Of the Board
Of Excheque:, to furnish for its own use
and that oI the several agencies su,ta.
bic amount of such notes, to be nsed in the
transaction Of its business; and all dues
to the United States, or any officer or
department thereof may be paid 10 gold
or silver coin, in Treasury notes issued
under this act, or 10 the notes of bank
which shall be Immediately cor vertibIe
into specie at The place where received
Sec. 9, And be ii further enacted, That
the Board OF Exchequer at the seat Of
Government and each Of its agencies
shalt settle weekly, 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 ba ances
between ii and said banks; and no indi,
VlduaI shall be aIo we'd at any time to
stand as debtor to the Excheouer or any
Of the 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 its