The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1842-01-11


uTThe following is The Bill presented to Con-
gress by the Treasury Department, for, the Fiscal
agent, proposed in tho President IS Message
A BILL
AMENDAToRY OF THE SEVERAL AoTs ESTABLISH
ING THE TREASURY DEPARTMENT.
Sec l. Be il enacted by The Senate aud House
OF Representatives orihe United States of America,
in Congress assembled, That there shall he, and
hereby is, created and established in the Treasury
Department the of Government; of The
United States, Board, to be called the Exchequer
OF the United States, TO be composed OF the Sec
rotary Of the Treasury Tor the lime being, Treas
urer Of the United States for the time being, and
three Commissioners, to be appointed by the Presr-
dent with the advice and consent of the Senate
one Of the said Commissioners first appointed 10 be
appointed for two years, for four and one
for six years, and vacancies subsequently occurring
to be filed that vacancy shall regularly
occur at the end of every peuod Of two years; the
said Commissioners not to he removed from office,
except for physical inability, incompetency, or
neglect violation of duty; and in ofany such
removal, it shall be the duty of ,he President to
lay the reasons thereof before the Senate. And
on the first organization OF the Board, of the
three Commissioners shabby the members thereof,
be elected President, who shall hold his Office for
two years, when a new election shall be made; and
in like manner election shall take place Of
forwards tho end of each successive period of two
years And the Secretary Of the Treasury shall
have authority apponr all such inferior officers
as in the judgment ofthe Board the transaction of
tive cempensatons 10 be fixed by the Board, who
may take bonds for the faithful discharge of their
duty for such sums, and in such manner the
Secretary fthe Treasury shall direct. And each
| of said Comm ssionels shall receive ANIMAL
! salary oC--dollars.
| Sec 2. And be it further enacted, That the
said board Of cxchcqucr shall have power TO estab-
lish agencies or offices in such of the cities or
towns Of the states and territories of the United
States il may judge expedHnt, moi Aceeding
two in any state or territory, and also wherever
Congress may by law require the same 10 be estnb~
lished; and such officers and agents may by the
! Board Of Exchequer be thought necessary 10, the
management for such agencies, and the transaction
of their business, shall be appointed by The Secre-
tary OF the Treasury on the recommendation OF the
Treasury on the recommendation of the Board of
| ExcheQueT; and the said Board shall have power to
fix the amount of the respective conpensatons Of
such officers, and to provide regulations Tor the
government OF such agencies, the transac ton of
lh.ir business, and the rendering accounts of all
| their proceedings. md in such regulation they
! shall assign and arrange the duties the officers
of the said agencies that one of those officers shall
be a check and n control upon 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 agen
ces may be removed by the Secretary of the
Treasury for physical inability, or incompetency;
or neglect violation of duty; bet it shall no his
duty to state every removal OF any principal officers
ofany agency with his reasons thefefor,ln his gen.
eraI annual report Of the transactions of the Board
Of Exchequcr.
Sec. 3 And be it further enacted, That the
said Exch"quer aud its officers shall he tho genera
| agents Of the Government Of the United States for
receiving, safe Keeping, and discussing the public
moneys and transferring the same under Tho direc
ton Of the Secretary of the Treasury and all pub
lie moneys received, fom whatever sources, shall,
| under the same directions, be paid into the SAID
Exchequer or It's agencies; and the principal officers
employed in such agencies shall give bonds TO tho
United Siaes for such amount and in such form a.
the Secretary of tho Treasury shall prescribe, for
the faithful performance of their duties. And
the said Board of Exchequer and its several agen
cies shall pay all warrants, drafts or orders made
thereon by the Treasurer Of the United States, and
by all disbursing officers and agents of the Govern
ment having authority to make such drafts or or
ders. And every such payment shall be made, at
the option Of The person entitled to receive it, in
gold and silver CON or in Treasury notes.
4 Seed. And be 1t further enacted. Tint the said
Exchcquer and its officers shall perform tho duties
OF Commissioners OF Loans, in receiving subscrp
lions, transferring stock and paying dividends and
interest thereon, under the directions OF the Sec
rotary Of the Treasury, and shall render to the
| Treasury Of the United States all necessary faci1i
ties for transferring and discussing the public funds
as shall be reqIir ed by him, and shall perform all
the duties OF pension agents under the regulations
prescribed by the Secretary OF War, and shall rem
der and perform all ether duties and services in
lation to tho collection, keeping and dsbursiDg Of
tho public funds shall be prescribed by law
by the Seci etary Of the Treasury
Sec. 5. And DO it further enacted, That il shall
be lawful for the Exchequer at the seat of Govern
men and its several agencies, 10 receive private
depose gold silver coin or bullion, the property
of individuals 10 be held in other cases OF depos
ties made by individuals for convenience and secu
rity; and issue certificates Of the fact of such de
posite having been made; which certificates shall
always be redeemed on presentation at the agency
where issued. But the amount SO deposited shall
never exceed in the whole fifteen millions Of dol
lars to be distributed by the board among its
| al agencies, according to the Of their bust
ness respectively; and for issuing such certificates,
no higher premium shall be demanded than shall
be sufficient to indemnify against the hazard Of loss
and remunerate for the safe keeping the deposite,
and IN no instance to exceed the one half of one
per cent But paper issued by the board and its
several agencies whether in the form of bills of
certificates OF deposie, shall be redeemable only at
the place where issued, unless the Board shall see
! cause tn order otherwise.
! See. 6. And be ii further enacted, That 1t shall
be the duty of the said Board OF Exchequer within
TIN &c months after its first organization, to esta
sh such by claws and rules of proceeding asi may
judge expedient and proper for the regulation Of
its concerns and the go, nment Of its agencies;
and copies of all existing bylaws and regulations
shall be laid be fore Congress at every year, at its
annual session. fi.a..
Sec T. And be it further enacted, Thar the
4 c,t,oU ;,h o,a and