, 1842-03-19

y 'f~ $1,000
for two years, when a new election shall be
made: and in like manner 4 new election shalt
take place afterward ;at the end ofeachsuccess-
i've period of two wears. And the Secretary
of the Treasury shall have authority TO APP
point, on the recommendation OF the board,
all such inferior officers as IN the Judgment
of the board the transactions OF It's business
NAV require, the amount of their respective
compensations, till fixed by law, to be de-
termined by The board, who may take bonds
for the faithful discharge of their duty for
such sums and in such manneras the
secretary Of the Treasury shall direct;
and each of said commissioners shall re-
ceiveI an annually salary of dollars
SEC. 9. And be Il furher enacted, That
the said Beard of Exchequer shall have pow
er to establish agencies ar offices IN such OF
the cities or towns Of the United States as
it NAV Judge necessary and expedlent Tor the
public service, and also, whatever Congress
may by law require the same to be established.
limiting the number to as few as the eXigen-
eies of the service will admit, and in no case
exceeding two ia any State or Territory;
and such officers and agents as may, by the
Board of Exchequer, lie thought necessary
for the Management Of such agencies, and
the transaction of their business. Shall be ap-
pointed bv the Secretary of the Treasury.
on the recommendation Of the Board Of Elk
cheuuer; and the said board shall have pow
to fix the amount of tho respective compen-
sations Of such officers. until the same shall
be determined BY law, and TO provide regula-
tions for the government of such agencies.
the transaction of their business, and the
rendering accounts of all their proceedings.
And in such regulations, they shall 50 assign
and arrange tie duties Of the officers ol the
said agencies. rs that one OF those officers
shall be a check and control upan the other.
and for that purpose they shall 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-
moved by the Secretary Of the Treasury on
the recommendation Of said Board, for phys
ical inability. or incompeiency, or neglect,
or violation Of duty; but it shall be his duty
to state every removal of any principal otfi
Ger Of any agency, with his reasons therefor,
in his general annual report of the trarsac-
tons Of the exchequer.
Sec. 8. And be II fgrNcr enacted That,
the said Exchequer and its officers shall he
the general agents of the government o! the
United States, for receiving. sate-kecpIng.
and discussing the public moneys, and trans
ferring and transmitting the same. Under the
direction Of the Secretary OF the Treasury;
and all public moneys received from What
ever sources, shall, under the same direct ons,
be raid into the said Exchequer, or its agen-
cies, and the principal officers, employed in
such agencies, shall give bonds 10 the United
States for such amounts, and IN such form as
the Secretary Of the Treasury shall prescribe,
for the faithful performance Of their duties.
And the said Board of Exchcquer and It's
several agencies shall pay all warrants, drafts.
or orders, made thereon by the Treasurer at
the United States. and by all disbursing Off
GERS andIagents of the Government having
authority to make such drafts or orders
And every such payment shall be made, al
the option of the person entitled to receive IT,
in gold and silver coin, or in specie notes to
be issued in such form as is hereinafter pre-
scribed. But such notes shall never exceed
the actual amount of specie holden for their
redemption.
Sec. A.. And be IL further enacted, That
the said Exchequer and its officers shall per-
form the duties Of commissioners of loans. in
receiving subscriptions, transferring stock,
and paying dividends and interest thereon
under the directions Of the Secretary of the
Treasury, and shall render TO the Treasurer
of the United States all necessary facilities
for transferring and disbursing the public
funds as shall be required by him, and shall
perform all the duties OF pension agents under
the regulations prescribed by the Secretary
Of War, and shall render and perform all
other duties and services in relation TO the
collecting, keeping, and disbursing Of the pub
lie funds as shall be prescribed By law or by
the Secretary Of the Treasury.
Sec. 5. And be it further enacted, That
it shall be lawful for the Exchequer at the
seat of Government, and its several agencies
to receive on private deposite gold or silver
com or bullion, the property of individuals,
TO be held as iii other cases Of deposites made
bv individuals for convenience and security;
ano to issue specie notes for the same in such
form as the said board shall prescribe; which
notes shall always be redeemed on presenta-
ton at the agency where issued; but the
amounts deposited shall never exceed in the
whole fifteen millions Of dollars, to be dis
tributed by the beard among its several
agencies according TO the extent of their
I,.:..o. al (~r ;.- ..oI