Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-03-11

5aIu,
'Ir. TalEmadgc's ExChCqUCV
Bill,
The following is the plan for the pro-
,osed Uo'ed States Excheqer, submit
ed in the report made by Mr.. Tall
nadge, on the 2|sl uIt.
PLAN.
A board TO be established in the Trea
sury Department, at The Seat Of
Government. TO be called the tx
chequer Of the United States. The
board to be comprised Of three CON-
missioners, to be appointed by the
President, with the advice and con.
sent Of The Senate. and to be remoV
ed from Office only with the like
concurrence Of tho Senate, and for
physical inability, iucompe,encV,
neglect or violation Of duty. The
President TO communicate TO the Sen.
ate the particular reasons for toe
proposed removal. For like causes
the President may suspend CON
missioner and appoint a temporary
substitute, and within the first week
Of the ensuing session Of the Senate
lay before that body the reasons OF
such suspension, and, if the Senate
concur, the commissioner TO be re =
moved, if not. TO be restored.
II. The Board Of Exchequer to establish
agencies, as it may deem necessary
aud expedient for the public service
limiting the number TO as few as the
exigencies OF the service will admit
and in no case 10 exceed two in any
State or Territory.
III. The Secretary Of the Treasury tc
appoint the inferior officers Of thr
board, and also the officers OF the
agencies. on the recommendation o
the board, aud 10 remove them for
physical inability, incompetency
neglect, or violation of duty, on like
recommendation
Nv. The EXcheQuer and its officers 10 bt
the general agents Of the Govern
menl tor receiving, safe-keepipg anC
disbursing The public moneys. The
public moneys from all sources re-
ceivpd to be paid into the Excheque
and its agencies,
! V. The Exchequer and agencies to re-
ceive on deposite gold or silver coin
or bullion, and to issue specie note
for the same, to be redeemed at the
agency where issued Said notes tt
be prepared by he Secretary Of lht
Treasury. signed by the TREASURED
and counersignod by the Presiden
Of the Board Of Exchequer, and mad
payable to the order of the princpa
agent and endorsed by him whet
issued at such agency.
! VI. The Exchcquer and agencies, n
the dcposito Of gold or silver coin, O
bu lion, to draw and accept bills {
exchange and to receive premiu,
not exceeding two per cpnlum. Alst
W COlItCl uIhllo w WIS, Uul VI liln Il
no advance or payment till advise
Of the collection, and TO charge
reasonable commission for collectlo
and exchange.
VII, All specie notes issued either
payment Of the public creditor, {
on the deposites Of individuals. nevt
to exceed the actual amount of sp,
Gle on hand for their redemption
dollar for dollar.
VIII. Dues to the United States to |
paid in gold or silver coin, in spec
notes, or in the notes Of banks INN
dialely convertible into specie at II
place where received The Exch
quer and agencies to settle week.
or oftener, The balances with II
= banks.
TX, The Exchcquer and agencies
keep separate and distinct sets
j, books; to enter and record in one S
: all transactions respecting the cole
d tion, keeping, and disbursing Of Il
s public revenue, and transmitting Il
- public moneys from place to pIac
q for the service of the GoVernmer
e and in another, all transactions al
accounts arising from the operalio
> in exchange and other transacto
not on Government account.
J. X. The EXchPQuer may appoint as
II gent any specie.paying bank; /
h such bank is mol authorized 10 r
e ceVe private drposites, or to occ'
e or soil bills or drafts, on account
y the ESchequer,
Il XI The Exchequer and agencies to
r, as commissioners of loans and pt
sion agents, and generally 10 reno
is oil facilities in transferring and d
" butsing the public funds, Full a