The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-01-06
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- Asasas N&aMM an kaAAAes Aot HssaN AA&N
Ice suaasE,. snsits das,snl iT.n lsr pissr
Il drsxlrg slall not b. iEsun lnT = lon
eFr lime ilsu iLiriy days fsem dsts and
b,.l. 5awa ah p,sess R,rEs ihsh Eve hun
dreI miles lEnh ite piase ii dEza inc
shsIl uol Re ds.Wh lal alaLgsF lime than
Ihisrv DAYS iron sigh.
/ Q In 20 insssnee .hall more be 6smsn.
dsd fran tie seller II such hill. ~ ~ss
q 70 eEsss or txcLsnge. than an Interest
not sacsedIrg SIX per- cent. per anRum
inr tie time hirh Ihe said hlll has 81 Tnn.
sni rate nl exchange neseT exrrfding
The crst ii remiIiing sPce-e. sHd iR'ho
case 10 exceed ava PET ssn'. Aud d
shah ROT he lswfrl iaT TIE Board III EN-
/ rhrqurr. CT sny sceney. ta purchase any
bill drawn By or -npon sny msmher OF
officer thereof. or in Nhirh sarh msmbsr
lor sfIirrr shall IN any way be interested;
nor io resolve sny derus ie of any m"ney
beisngipg 10 any such meInhrr er "fIiesr.
Aud no bill shall be purchased. or draft
sold a. aEy sgsLry, @IIhoul the assent ri
II least tao nf the rfFisers 81 such agency;
nor by the Bosrd II Exchsqusr wIlhsuI
the assent nf Iwn nf IL memhers.
Sec. IL. End BE- IL further saarfsi.
That no sseney established in any Sale
under The proy isinns Of lhisact shall. con-
usry 10 any Law which such Safe may
enscI. receive any other depOsi es than
th"se of tie Unurd States. or make or
sell drafts. or purchase bills. o'her Than
such as sIall be necessary in the eullec-
ton. transfer, and disbursement Of The
public lunfs.
Sec. 10. find lie 10 further fnaofed.
That ifsI any time il shall be iouhd ne
resssry tn carry ON The operations al the
Exehequer Busrd. and its sgenries hereby
cIesied. The Secretary al the I'rta.ury
may cause To be prepared. issued. and
delivered 10 the Exehequer B"ard, crriii-
Gates Of stock of The United States ..in The
usual form, bearing interest a. rate not
exceeding five per centun pefsnnum. 10
en- amount not exceeding fae milI,ons Of
dollars. the interest al which shall be
PAYABLE semi-annUslly, and the principal
shall be reGremsbIe al tie pleasure OF the
Government afisr the expiration Of twenty
wears from the issue thereof. Aud II
shall be lawful for the said Exchraner
Board ~ sell aud transfer The said siocs
for gold or sIlrer com. nr bullion. And
II shsII be the duty uf the Exchcquer
Eosrd to provide for the punrlual pay
ment 0f the interest IN tie said stock a.
u shall become due. and fnr The rrim
bursFment of Tie prIneipal from the prof
its and other means aud resources al the
Board and its agencies. Bui the lailh Of
The Government, nevertheless, rhall be
pledged Tor the payment Of The intsresl
and the principal oi such stock.
Sec. IL. find BE- IL further enacted.
That the Board of Exchsquer aud is
several agencies shall keep separate ant
distinct sets Of books. for the purpose ul
entering and recording, in one set. all
transactions respecting the COLLECTION.
keeping. and disbursing of the public re.
venue. and Irsnsmrling the public mo-
neys from place 10 plare Tor The service
OF tie Government. aud in snolher. all
Transactions and accounts arising ON
dealings IN exchange aud oLer. IIsnssc-
tons not on Government account. And
all profits accruIng. from deal ne IN ex
change on individual account aud iron
private dea"sHes shsll be applied in the
first place To pay ali salaries ani COM
rensa ions. aud ia Gefrsy all EXPENSES
incurred under the authority Of thrs acI.
and The kesrbue Ilrereul shsIl be- laced
semi-anau-Ily tn tie or, dIl Of the Urea
surer of the United Sratrs. PrCri,isd
neoerihe'ess. That The .sid Board nav
defer all such credit. In the Treasurer,
unI the amount nf prhfi,s sfarrss,i be-
ynnd expenses shall exceed two m,l-
lions Of d,llars. aud nay r. aiL said
amount o. two millions as fund 10 NEE,
all contingencies cuargeabIe oil The En-
cheqaer and its sEetr,rs.
S=c. Is. .4ad be il further enacted.
That If u sh.I a, any Iim" become me-
cesssry to bring SUIT on any hill Of ex
change or other J,bI or liability Arising
out OF sny transactions under Tie proyis-
ions Of this act. such suit may be brought
in the name Of III" Unned States in any
Circuit Court of the United States. or any
Sac Court having comprt ui jurIst,c
ton.
Sec. l6. .2nd be IL furfhsr enacted,
That the afcrssaty Rooms and saui's FOR
the safe keeping If HE public money.
and Tor the tTsIsaclIHn nf the business nf
the Bard ri Excnrquer aud II. sgencifs
shall be provided by The r,ea.ury De-
partner, at the riry Of Warrington, and
IN the custom houses, mint. branch minis. |
and other pubic buildings brIongiag 10
the Unied States. 50 Ear as the s+me c4b
be furnished wilh"ui deirment TO the
public service; aid shrIe the same can /
moi be :" furnished, the said Board NAV
provide o:hcts.
G. ~ m J. :. F,g. x,.J