Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-03-10
LYNlMBlR THURSDAY MARCH 10, Isio
MIR. TALLMXnGE'S BILL.

|
Mosp,y February u, 1912
In the view which tho committee have thus far takon
ot tho plan Of FlaL Agent submlit. by the Sccfcta
" OF Lle lrsassry. ey have suggested certain impor
TAM inodiheaions, AID u ordu ~ give tho Senate u
more eones and osnuocts view VI tho ~ stem a. toy
propose To modify H. unsy submit lho following:
| 4 BILL AMENDATORY or TIE SEVERAL.
ACTS ESTABLISHING TIE Urea
StRN DEPARTMENT.
ic Il enacted by the se,.nls aud House Of Represcn
iai,res u the United STATES Of .ic,iea ~ Congress as
sea,bcd That there shall be- aud hereby H. created aud
established IN the Treasury department, nj the seat oi
Government o the lnIted States, board To be called
the EXcheqner OF the United States he composed Of
three commissioners, IL be appointed by the President.
with the advice aud copscn ol the Senate aud who shall
be- removed from office only with the like VI
the Senate, and tor some more Of the following
causes TO Wit pllysieal inability ncumpct,ncy or neg
loct, violation OF dnty aud. IN over, such case II
shall be the duty oi lhe President 10 communicate Ia the
Ncnae The particular roasors Tor the proposed removal
but, during the recess OF the Senate til. President may
Tor any OF the aforesaid Causes suspend any of the said
commissioners. aud appoint n Temporary substitute. and
within the htst week vi the ensuing Of the Sen.
ale he VIII lay heote that body the OF such
pension, and II he Senate concur with hun. the comus-
sioner suspended shall be removed bnt II it do not
concur With HIM. the said commissioner shall be restored
Aud on the first organization Of the board one oi the
tlroe commissioners shall, by the members thereof. be
elected president who shall hold his office Tor Two Yeats
when new election shall be made. and In like nannor
new election shall take place alcrward nj the end Of
each successive period OF two years. And the Secrca,
OF the Treasury shallhaye auihon, 10 appoint. on the
recommendation Of the board all such inferior officers as
in the Judgment of the hoard the Transaction of ia busl
ness may require. the amount Of their respective compcn
saon tll fixed by law, 10 be determined by the board
who may take bonds Tor the faithful discharge ol their
duty for such sums, and IN such manner. the Secoa
~ oi the Treasury shall direct and each OF SAID
Wissloncrs shall receive AN annual salary Of - dollars.
Sec. =. ind be hI'Tther enacted. That ihcsaid Board
OF ENchcuer shall have power establish agencies ur
officers IA such ii the cities towns of the utcd States
M IT may judge necessary and cxpodlcn Tor the public
Service aud nlso wherever Congress may by law require
the ssno 10 be established limiting the number to as
few ns the eNgcneics oftle sov ice will admit and in no
case exceeding two IN any State or Territory; aud such
officers and agents may by the Board Excoqucr be
thought necessary for The management OF such apencios
and the Transaction oi their business, shall he appointed
10y the Secretary Of the Treasury on the recommended
llon oihe Board OF fAcenor, and the said board shall
have power 10 liz the amount Of the respective pcsa-
ton o such officers I'LL the same shall he determined Nv
law, and TO provide regulations for the government ol
such agencies tho transaction of their business and til,
rendering accounts d all their proceedings And in such
regulations they shall assign and arrange tho utio.
OF The officers o The SAID agencies that OF hos,
officers shall bra check and control upon the other and
ior that purpose they aall require that the accounts and
proceedings Of each shall be entered in proper books
And any Of the officers Of the said agencies may be re
incubation Of said board, for PHI ysca inability or incom
potency OF neglect, violation Of duty state ever,
removal Of any principal officer OF any agency with his
reasons therefor in hlsgeneal annual report Of the trans
actions OF the EXclequer.
Sec. 3. lind be il further enacied That the said r.,
cheqer and It's officers shall be the pcnrrl auonis Of the
Government Of the United States Tor receiving the pub
lie moneys and transferring and transmitting the same
under the direction o the Secretary OF Treasury; and all
public monays received from whatever sources shall un
tbpa 10 Al
or It's agencies shall give bonds 10 the nllcl States lu,
such amount aud IN such form the Secretary Of the
Treasury shall prescribe for the faithful performance Of
their duties. And the said Board OF Exchoqucr aud
several agencies shall pay all warrants drafts orders
made thereon 10y the 1rcasurcr OF the United States and
by dlsbnslng officers and agents Of the Government ha
wing authority To mako such drafts orders And eve
~ such payment shall be made. at the option Of the per
son entitled to receive it III gold and silver coin or in
specie notes. to be issued III such form hereinafter
prescribed Bu, such notes shall never exceed the ac-
tua amount Of specie holden for their redemption
Sec 4. .3nd be further enacted, That the said FIX
cbe1ner aud solecs shall perform the duties of commits
soners OF loans, III receiving subscriptions, transferring
stock. and paying dividends and interest thereon under
the directions of the Secretary othc Treasury; and sha
render the Treasurer Of the United States all neccssa
ry facilities for transferring and dshursing the public
funds as shall be required by him. and perform all tn,
duties OF pension agents under the regulations pr,sc
bed by the Secretary OF War, aud shall render and per
form all other duties and services in relation a. the col
oclng. keeping and discussing Of the public funds n,
shall be prescribed by law by the Secretary Of ia,
Treasury.
Sec. 3. .hid be Il further enacted, That il shall b,
lawful for the EXchequor al the seat of Government an,
It's several agencies 10 receive private gold svc
com, or bullion. the property OF individuals, to be held
as IN other cases OF dcposiies made by individuals o
convenience and security, and to specie notes f
same III such form the said board shall prescribe
which notes shall always be redeemed on presentation
al the agency where issued but the amount 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 respectively
Tor Issuing such specie no higher premium shall be de
anded than shall be sufficient indemnify against thu
hazard Of loss, and for the safe keeping Tn,
dcpsite aud IN no instance 10 exceed the hall OF
per cent But specie notes issued by the board and its
several agencies shall be edeomable al the place where
issued unless the board shall sec cause 10 order other
wise
Sec q. find he further enacted That the Secretary
of the 1rcasuy hereby authorized anddrected cause
10 be prepared specie notes, Of denomination of les,
than five dollars norexcocdlng one hundred dollars which
notes shall BIZ signed by the Treasurer OF the Unof
States aud counlersgned by the President of the Boa
/ OF ENchequer and made payable to the order of tho
order OF the principal agent at each agency and shall b,
by him endorsed when issued such agency and which
notes shall be redeemabe and shall be redeemed in golt
and silver, on demand, at the agency where issued
And specie notes intended to be issued by the Board
Exchcqucr at the seat of Government shall be in like
form, and shall be payable the order of the commission
and shall be endorsed by of them when is
sued. and shall be redcemabe and redeemed at saic
board, on demand in gold and silver and exact and per
feet lists Of all notes so signed shall be kept at the Irea