The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1874-03-17

AO4O14NlN/4N LIZ a.,
hereinafter provided for, and hold the
office for one year.
SEC. z. That the commissioners of IL
! issue department shall issue notes
the banking department whenever the sal
banking department shall deliver gold col
OF the United States to the extent of on,
fourth of the amount required, and I'll
other three-fourths in four per centul
bonds of the United States, unit
the issue shall in the aggregate, reach tw
hundred millions of dollars; and for q
issues thereafter, the commissioners of th
issue department shall require one dolla
in coin and two Of government bonds, I'll
the sum so issued shall reach two hundre
millions more, and then they shall requir
one dollar Of coin for each dollar in gov
eminent bonds, till the additional sun
shall reach two hundred millions of dollar
more; and then, ifanv notes be issued. the,
shall require one dollar in coin for each dol
lar of notes issued. Each note shsll.be 70
five dollars or some multiple thereof, ant
shall be in the words, 1.-THE governor ant
managers of the Exchequer Of the United
States of America, will pay to 49, OF
bearer, - dollars. at - or IN New
York" If issued at any branch, which
shall be the extent of the issues for such
branch, but if issued to the chief Office
then they shall be payable at the chic
office; but all notes, whether issued by q
branch or chief Office, shall be legal tel.
der for any debt due to the Exchequer at
any Office or branch thereof. Said notes
shall be payable in gold coin at the branch
where issued, or at the chief Office in the
city of New York, and if not SO paid by
the banking or issue department, shall
work forfeiture of all the rights and
privileges guaranteed by this act.
SEC. 3. That the governor and managers
of the Exchequer Of the United States of
America shall keep open for the transaction
of business, at the chief office in New York.
and all its branches, both departments.
from nine o'clock in the forenoon till three
O'Clock in the afternoon each day, excepting
Sundays, Christmas, and Fourth Of July,
and shall receive on deposit, subject to
checks or drafts of the proper officers Of the
United States, payable in coin or exchequer
notes, at the option of the holders
thereof, all moneys received by the
government for internal taxes, duties,
or for any other purpose ---, and
from and after the first of January.
eighteen hundred and seveaty-six, q
bonus of one-quarter Of one per centum out
Of any dividend which may be declared,
reckoned upon the capital of the Elk.
chequer, shall be passed to the credit of the
government of the United States, in liqui-
dation of all taxes on the capital or divi-
dend.
SEC. 8. That accounts may be kept
with individuals, copartnerships, or incor-
porated companies, upon such terms as the
governor and managers shall prescribe
irov'ded, that no interest or other bonus
shall be allowed for moneys deposited or
any evidence of debt.
SEC. 10. That transfers of money from
one office to another shall be made either
by letter or check, in lieu of coin or ex-
chequer-notcs, at charge of not over one
tenth OF one per centum. Letters
of credit, or certificates of deposits, in lieu
Of coin or exchequer notes, may be issued,
having not over ten days to.run, payable at
any office, provided that such letters of
credit, or certificate of deposit, shall bear
the seal of the Exchequer, and payable in
coin or exchequer notes, at the option of
the holder.
SEQ. IL. That loans may be negotiated
Tor any of the states, and the charge there
Tor shall not exceed one-quarter of one per
,entum, and the government of the United
states may at.any time sell. through the
Exchequer, any of its obligations to
'edeem them. but no charge shall
De made for any sale, redemption,
" transfers of credits, or moneys of
ne United States, so long as the deposits
md disbursements of that government is
made through the Exchequer.
Sec. IL. That the governor and mana
,ers, as well as the commissioners of the !
ssue department, and such other officers
IS the proprietors shall name, shall each |
n his own right hold at least five shares of
he capital of the Exchequer of the United |
states of America, and no one who shall |
lot have held tho shares upon which he
nay wish to vote, either in his own name |
# as proxy for any other person or per-
ons, tor at least -- days prior to
General or called meeting, shall be entitled
o vote thereon; nor shall any proxy, or
etter, or power Of attorney, be valid I'm.
ess executed in due form within -
lays of the meeting at which the vote is to
,e cast.
Sec. 10. That whenever the Exchequer
hall deliver legal.tender notes Of the
United States, stamped "canceled by the
Gxchequer," or pass to the credit OF the
United States, payable in coin or excheq-
Ter notes, at the option of the govern
nent creditor, in amount not less than
- at any one time, then the Secre.
airy Of the Treasury shall deliver four per
entum bonds OF the government for o like
mount, provided the aggregate does not
xceed g. If the bonds are not pre-
iously sold by the Secretary of the Treas
ry..
SEC. ID. That no officer, nor any con-
ern, corporation, copartnership, or associa-
ion, of which he is member, or in which
e is interested, shall at any time owe the
ixchequer more than, say ten thousand
ollsrs. as payer or payers. and the sum
t one hundred thousand dollars is fixed as
he amount beyond which no discount,
pan, or advance shall be made to any in
lvidual, copartnership, corporation, or
ssociation, except upon obligations of the
overnment of the United States; and the
dvances, loans, or discounts on such gov
rnment bonds or obligations shall not
xceed the face-value thereof: Provided,
nat the interest in the capital stock of the
lxchequer shall always be bound for any
oIN dtpn 10 l. Il L. !