Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1843-02-22

III bheR purpose. anu the nHteS or bills
thus stamped ard countersigned shall,
by such agent or register of the Treas
ury, be handed back 10 the bank or COM
pany, an payment by said bank or COM
pany.in effective money (gold or silver.
or It's equivalent,) to the satisfaction Of
the Treasury, ofthe amount agreed to
be loaned to tho Treasury by said bank
or company as aforesaid.
4. The Secretary Of the Treasury is
hereby authorized and instructed 10 enter
into a written agreement with each and
every bank and company loaning as af-
oresaid; which agreement shall set forth
explicitly and clearly the amount and
terms of the loan made TO the Treasury
by said bank or company as aforesaid;
and also, contain a schedule OF the notes
of issue of said bank or company, STAN
ped and countersigned in accordance
with the provisions of this act: and this
agreement shall stipu.aie that, in the
event any bank or company which shall,
nnder this act, have loaned TO the Treas.
ury as aforesaid, shall, at any time
pending the continuance OF this agree
ment, fail to redeem, on demand, in coin,
NJ The place of business of any such
bank or company, any Of the notes of
issue of said bank or company thus
stamped and countersigned as aforesaid,
the interest then accruing on the amount
of loan made by said bank or company
10 the Treasury as aforesaid, shall forth
with cease and terminate; and the notes
OF issue of said bank or company, thus
stamped and counters gned as aforesaid,
shall. as the same may be paid into the
Treasury, be cancelled and returned 10
the bank or company issuing the same,
in payment Of the sum which may have
been loaned by said bank or company
10 the Treasury as aforesaid.
The agreement entered into by
the Secretary Of the Treasury with any
bank or'company aforesaid shall sci forth
and stipulate that the Treasury Depart
ment, by a resolution of Congress so
uirecting, shall at any time have auth
lorIty to pay off or reduce the loan of
any bank or company to The Treasury
Us aforesaid, by giving notice thereof,
and causing an equal amount Of the
issues Of said bank or company, stamped
and countersigned as aforesaid, to be
cancelled and surrendered to said bank
or company: Provided, That, in all cas-.
es OF sducing or paying off said loan
or loans as aforesaid the amount be, az
far as practicable, equated among oil the
banks or companies "prordta" with the
amount loaned by them. respectively,
TO the Treasury as aforesaid.
s. II shall be IN the power Of any bank
or company loaning 10 the Treasury ,un
der the provisions Of this acl,to demand,
in whole or in part, at any time, from
the Treasury OF the United States the
sum thus loaned as aforesaid, on giving
- days notice OF such demand, and
cancelling, or causing to be cancelled,to
the satisfaction of the Secretary of the
Freasury,a a equal amount of the stamp
ed notes of the said bank or company !;
The Secretary of the Treasury having
the option to pay said demand in effect
i've moaey, or IN Treasury bonds, bear
ling not loss Than six per cent interest,
and redeemable in ten years thereafter.
z. The Secretary Of the Treasury
shall nominate TO the Senate for aps
continent. suitable person for each
State or Territory, whose duty it shall
be to stamp end couniersign the notes
OF issue of any bank or company which
shall under the provisions of, and in
conformity with, this act, loan the
Treasury the sum Of money authorized
by this act to be borrowed Of said bank
or company; and the said agent or a
gents shall follow such directions as he
or they may receive from the Secreta.
ry of the Treasury, said directions and
instructions being in conformity with
provisions Of this act. The remun-
ton for services Of said agents in
nping and countersing the notes of
re, as aforesaid, shall pc paid by the
iasury Department, chargeable to the
ks or companies whose notes ofissue
be stamped and countersigned, as
resaid, at the rate of - dollars for
ry one hundred notes stamped and
nlersigned as aforesaid.
Ii shall be the duty OF the Secre-
Y OF the Treasury TO cause a copy OF
act TO be sent, as far as practicable,
II the specie paying State banks and
lpanIes in the Union, and making
posals to the Same to lend, on the
ms and in accordance with the pro-
ons fthis act, and to accept Of such
RS as in his j Judgment are most ad-
,tageous to the Treasury, giving, as
- as practicable, participation and
~ rata share to all parts Of the Union
9. Existing laws prescribing punish
ments and penalties counterieiting,
forging, or altering Treasury notes, or
any other evidences of liability, shall
be made applicable to all cases Of forg.
,ng.counterfeiting,or altering any stamp
or countersignaturo prescribed by the
provisions OF this act