Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1846-04-09

THE SUB-TREAsURY BILL.-The Sub
Treasury bill has passed the House of Re-
personalities by vote Of 1876 to 81. Its
main provisions are as follows:
Section 5 provides for the appointment
of receivers-general, to hold their offices
for the term of four years, at the city of N.
Y ork, at the city of Charleston, and at the
city of St. Louis.
Sec. provides that receiving officers oil
customs and of lands, and all postmasters
with certain named exceptions, shall keep
the money paid in to them, without using
it, till the same is ordered to be transferred
or be paid out.
Sec. 9 provides that all receivers Of pub
lie money within the District of Columbia
shall, whenever directed by the Secretary
of the Treasury or Postmaster General, pay
the money received by them into the Trea-
sury and that all receivers of public mo-
ney elsewhere shall pay the money receiv-
ed by them to the receivers-general, at least
as often as once a week.
Sec. 10 provides for the transfer of the
public money upon the order Of the Secre-
tary of the Treasury.
Sec. Is makes it the duty of the Secre-
tary of the Treasury, with as much promp-
utude as the convenience of the public bu-
slness and the safety of the public funds
will permit, to withdraw the balances re-
naming with the present repositories.
Sec. II directs the manner in which the
books shall be kept, Sc, and provides that
any loaning of the public money or con-
version of it to private use, shall be adjudg-
ed an embezzlement of such money, which
is declared to be a felony, punishable, on
conviction, by Imprisonment for not less
than SIX months nor more than ten years
and fine equal to the amount Of money
IembeZzled.
Sec 10 provides that after the tkirtietl
day of June, 1916, one-third part Of all du
ties, taxes, sales Of public lands, debts, anc
sums of money accruing or becoming due
to the United States, shall be collected ii
the legal currency Of the United States; and
from and after the thirielh Of June, 1S47
one other third part shall be collected il
such currency and after the thirtieth o
June, lS4S, the remaining one-third par
shall be so collected; and from and afte
the aforementioned day all payments of GO
vernment dues or of postage shall be il
gold and silver only.
Sec. 20 directs all payments made by
every officer or agent of the Government
after the aforementioned period, to be in golC
and silver only.
Sec. 81 Gorbids any exchange Of funds
by any of the officers Or agents of the Go
vernment other than an exchange fer golo
and silver; and directs every disbursing of
Gcer, when the means for his disbursements
are lurDishe1 him in currency legally re-
ceivable, to make his payments for the drafts
furnished, unless he can, in either case, ex-
change the means in his hands for gold and
silver at par.
Sec. % makes it the duty of the Secre-
tary of the Treasury to issue and publish
to enforce the speed Y presenta-
ton Of all Government drafts, and prescribe
the time in which all drafts shall be pre-
scented for payment; and to guard as far as
may be, against those drafts being used or
thrown into circulation as paper currency;
or medium of exchange.
Sec. "a fixes the salaries of the receivers
general, &c. The recever-general at New
York is to be paid $4,000 per annum; at
Charleston $500, and at St. Louis $780,
The Washington correspondent of the