The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-02-18
A BILL
Amendatory Of the several acts establishing
me Treasury Department.
(Io be concluded to-mmrO,c.) }

SEE. l. Bait enacted by the Senate and House Of
Representatives. Of The United States Of America in
Congress assembled, That there shall BE-, and hereby
Is, created and established in Tie Treasury Depart
ment, at the seat of Government of the United States
a board TO be called the Exchequer of he United
States be composed of the Secretary Of the Trea
sury for the time being, and the Treasurer of the
United States for the time being and one Commis-
soner 10 be appointed by the President of the United
States, with the advice and consent of the Senate ;
the said Commissioner be appointed fol four years
and neither he nor the Treasurer of the United States
shall be removed from office except for physical disa-
bllity, ncompetency neglect, violation of duty
and in Of y such removal, it shall be the duty
OF the President to lay the thereof before the
Senate and the said Commissioner shall receive an
annual salary of three thousand dollars and the Sc
cretary Of the Treasury shall preside the board.
SEC 2. And be HfurHer enacted, That said board
may establish agencies offices in the United States,
not exceedi ten in the whole, and one Of said agen
cies Offices shall be established at the city of Boston,
in the State of Massachusetts, one at the city of New
York. in the State of New York one at the city of
PhilOelfhia, in the State of Pennsylvania one at
the ciOof Charleston in the State OF South Carolina;
and u the city of New Orleans in the State of
Louisiana and one more, OF all the other five
agencies Offices if necessary for the public service,
may be established from time 10 time, at such other
place places said board may deem expedient; and
II may change the location thereof at intervals of
twelve months, as the public service may require for
the transfer safe-keeplns and disbursement OF the
public money.
SEC g. Ind be il further enacted Tha, for the said
board there shall be principal clerk with salary Of
dollars per annum And register with a
salary of dollars per annum and for each
agency Office of said board, to be established as
aforesaid, there shall he one superintendent with a
salary of dollars per annum and register
with salary of dollars per annnm: and if
he of a a
clerk for each superintendent with salary of
dollars per annum and clerk for each register
with salary of dollars per annum and the
said superintendent and register shall be appointed
by the President of the United States by and with the
dyice and consent of the Senate and the Secretary
of the Treasury shall have power to appoint the said
clerks; and the said superintendent and registers
shall be appointed for four years, and may be
moved by the President of the United States for ply
steal disability or incompetency or neglect, viola
ton of duty but in all cases of removal the reasons
therefor shall be laid before the Senate Of the United
States And the Secretary of the Treasury shall
have power, in case it shall be found necessary at
any of the agencies, to appoint temporary clerks, not
exceeding ten in the whole, for the transaction of the
business of said board and its agencies subject to the
supervision of Congress, with salaries at rate not
exceeding dollars per ann,lm.
SEC. 4. find be IL further enacted That the Exche-
quer and lis officers shall be the general agents of the
Government of the United States for receiving safe
keeping, and disbursing the public moneys and trans
ferrlng and transmitting the under the direction
of the Secretary of the Treasury; and all public
neys received from whatever sources, SHALL under the
same direction be paid into the said Exchequer its
agencies, or to the order of the Treasurer of the Uni
ted States. And the said Board of Exchequer and
its several agencies shall pay all warrants drafts
orders made thereon by the Treasurer of the United
States, and by all dsbursng officers and agents Of the
Government having authority to make such drafts or
orders. And the said ENchequer and its officers shall
perform the duties of Commissioners Of loans in re-
ceving 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, shall be prescribed by law by the Sc
cretary of the Treasury
. SEC 5. And belt further enacted, That it shall be-
lawful for the Exchequcr, at the seat OF Government
and Its several agencies To receive on private deposItt
gold or or silver coin or bullion the property of ni
vlduals, TO be held in ot cr of deposlte made
by individuals for convenience and security; and tt
certificates OF such deposite having been made
but the deposited shall never exceed in the
whole ten moNs of dollars unless otherwise provi-
ded by law be received on depositc as may be ap-
4
cordng to the extent of their business respectively.
SEC g. And be ii farther enacted, That the said
board and lis agencies officers, hereby author
lied and directed in all cases where the public Gre
ditors may prefer the same, to issue to them cerlfi-
Gates ct deposte oI the amount amounts, of debts
due them by the United Ststes but the amount OF
said certificates TO be issued to said public creditors
shall not exceed the amount of ten millions of dol
lars issued and outstanding at any time unless other
wise provided by law And it shall be the duty of the
49,.
clos, at all times to limit the amount of certificates
so issued that gold and silver on hand shall be
equal to the amount thereof outstanding.
SEC. 7. And be afarther enacted, That the proper
oiicercf the mint at Philadelphia, and of the branch
mlnts at New Orleans in the State Of Louisiana,
Dahoncga, in the State of Georgia, and Charlotte,
in the State Of North Carolina, respectively instead
of the receipts now by them given shall have power
to issue like certificates of deposite to individuals
the Government for the amount of all deposites OF
bullion or foreign coin of gold and silver made in said
mint its branches, for the purpose of coinage I'M
der such regulations and checks for the security
thereof the Secretary of the Treasury shall pre-
scribe.
SEC. s. And be il further enacted That all the said
certificates OF depositc shall be redeemable presen
tatlon at the office, agency mint, branch mint,
when issued they shall be receivable everywhere in
payment of the public dues. No premium shall be
demanded for issuing the same, and they shall he Is
sued in such denominations, not less than five nor
more than one hundred dollars, the depositor or
public creditor may desire And the Secretary of
the Treasury shall to be prepared and signed
certificates aforesaid in such form he shall pre-
scribe to be signed by the Treasurer of the United
States and countcrsgned by the Commissioner of Elk
chequer And the amount of all such certificates of
depose, public or private, outstanding at the end of
every quarter shall, soon thereafter as the same
may he asccrtaned be published by the Secretary of
the Treasury.
SEC. o. indbe further enacted That the said Board OF
Exchequer may draw bills or drafts on any of its
agencies, and may authorize any agency to draw bills
or drafts on the board, or any other agency and may
sell and authorize its agencies to sell such bills or
drafts for premium not exceeding the fair cost Of
RENTING specie TO the place of payment and in no
case to exceed two per contum on the amount of
such bill or draft Prorided that no bill or draft shall