Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-03-19

Jlt ltlC lpGttI tUtItiEN,
in the view which the committee have
thus Ear taken OF tie planof Fiscal Agent
submitted by the Secretary OF the Urea |
sury, they have suggested certain impor-
tant notifications; and in order TO give the |
Senate more concise and connected view |
OF the system, as they propose TO modty it,
they submit the following
PLAN.
!. A board to be established in the Treas,
ury Department., at the Sat CT GOV,
crnncnt, 10 be called the ExcheqIcr o.
the United States. The board TO be |
composed Of three commissioners, to |
be appointed by the President, with the |
advice and consent Of the Senate, and
to be removed from Office only with
the like concurrence of the Senate, and
FOR physical inability, incompetency,
neglect, or violation Of duty. The
President to communicate 70 the Sen
ate the particular reasons Of the pro-
posed removal. For like causes the
President may suspend q commissioner
and appoint temporary substitute,
and within the first week Of the ensu-
ing session OF the Senate lay before
sion, and, if the Senate concur, the
commissioner TO be removed, if not, 10
be restored.
II. The Board Of Exchequcr 10 establish
agencies, as it may deem necessary
and expedient for the public service,
limiting the number to as few as the
cxigenCios Of the service will admit,
and in no case TO exceed two in any
State or Territory.
Ill The Secretary Of the Treasury to APP
point the inferior officers Of the board
and also the officers of the agencies, on
tie recommendation of the board, and
TO remove them for physical inability,
incompetcncy, neglect or violation Of
duty, on Ike recommendation.
". The Exchequor and its officers to be
the general agents Of the Government
for receiving, safc-keePing and dis
bursting the public moneys. The pub
lie moneys from ali sources received to
be paid into the ExchcquGr and its
agencies.
' The Exchequor and its agencies to re-
ceive on dcpcsile gold Or silver coin,
or bullion. and to issue specie notes for
the same, TO be redeemed at the agon-
"ii~4E !SSNCl' tO.-It lbtCS " W
prepared by the Secretary Of the Trca-
sury, and 81 gned by the Treasurer, and
countersigned by the President Of the
Board Of Eychcquor, and made paya-
bic to the order Of the principal agent,
and endorsed by him when issued at
such agency.
VI. The Exchcquer and agencies on the
depost;e Of gold or silver coin, or bull
lion, TO draw and accept bills OF OK
change, and TO receive premium not
exceeding two per ccntum. Also, 70
collect drafts or bills, but to make no
advance or payment till advised Of the
collection, and TO charge reasonable
commission for collection and cN
change.
vi, All specie notes issued, either in pay
mont Of the public creditor, or on ID,
dopositcs of individuals, never to cx
coed the actual amount Of specie OF
hand for their redemption, d0ltar fol
GD'Icr
VIII. Dues to the United StatGs to be pal.
in gold and silver coin, in specie notes
or in tie notes OF banks Immediately
convertible into specie at the plac
where received. The EXchcquor ant
the balances with the banks.
IX. The Exchequer and agencies 10 keel
separate and distinct sets Of books; &
enter and record in one set all trans
actions respecting the collection, keep
ing and disbursing of the Public reva
nue., and transmitting the public money
from place to place, forthc service c
the Government; and in another, a
Transactions and accounts arising frol
the opcrstions in exchange and olhe
transactions not on Government q,
count.
Y. The EXchcqucr may appoint as agct
any specie paying bank; bat such ban
is not authorized to receive private d
posites, or 10 accept or sell bills {
drafts, on account Of the Exchequer
XI. The Exchequer and agencies to act ;
commissioners Of loans and pensio
agents, and generally TO render all I;
cilities in transferring and disbursr
public funds. Fall and exact accoun
of the board and agencies TO be flu
nished to the Secretary OF the Urea
ury, and he to report to Congress-
Necessary rooms and vaults TO be pr
vided. Eureties to be taken, and pc
allies prescribed, and strict examn
tion5 made.
The details of the above plan are tul
carried out in the bill which accomPanl
this report. ..,
The com nittee, then, propose syste
r.,a from all risk, and of perfect safety;