The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1874-03-18

issue department snail require one dollar
in coin and two of government bonds, till
the sum so issued shall reach two hundred
millions more, and then they shall require
one dollar of coin for each dollar in gov
eminent bonds, till the additional sum
shall reach two hundred millions Of dollars
more; and then, il any notes be issued, they |
shall require one dollar in coin for each dol
lar of notes issued. Each note shall be for
five dollars or some multiple thereof, and
shall be in the words, 1.-THE governor and
managers of the Exchequer of the United
States of America, will pay to - or
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 chief
office but all notes, whether issued by a
branch or chief Office, shall be legal tell
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. s. 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, payableln 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 seventy-six, o
bonus of one-quarter Of one per centum out
| of any dividend which may be declared,
reckoned upon the capital of the Ex-
chequer, shall be passed to the credit OF the
government Of the United States, in liqui-
dalton of all taxes on the capital or divi-
dend. i.w it. .ai
SEC. o. That accounts may be kept
with individuals, copartnerships, or incor-
porated companies, upon such terms as the
tgovernor and managers shall prescribe /:
Provided, 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-notes, at q 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
for any of the states, and the charge there.
/. for shall not exceed one-quarter of one per
/. centum, and the government of the United
, States may at any time sell, through the
4 Excheouer. any of its obligations to
! redeem them. but no charge shal
. or transfers of credits, or moneys o
: the United States, so long as the deposits
!, and disbursements of that government il
> made through the Exchequer.
SEC. IL. That the governor and mana
: gers, as well as the commissioners of thu
: issue department, and such other officer!
: as the proprietors shall name, shall eacl
; in his own right hold at least five shares o
|
= States of America, and no one who shall
;, not have held the shares upon which b
u may wish to vote, either in his own nam
= or as proxy for any other person or pei
!, sons. for at least - days prior t
Il general or called meeting, shall be'entitle
9 to vote thereon nor shall any proxy, o
y letter, or power of attorney, be valid IN
:, less executed in due form within -
> DAYS Of the meeting at which the vote is
~ be cast.
IL SEC. 10. That whenever the Excheque
!, shall deliver legal-tender notes of tn
~ United States, stamped "canceled by til
y Exchequer," or pass to the credit Of tH
- United States, payable in coin or exchet
~ uer notes, at the option of the govern
a. ment creditor, in amount not less tha
~ s. at any one time, then the Secr'
le' tary of the Treasury shall deliver four p
~ centum bonds of the government for Ill
as amount, provided the aggregate does NJ
exceed 8 If the bonds are not pr
at viously sold by the Secretary of the Urea
[e, ury.
I'D SEC. ID. That no officer, nor any CO
OF Germ, corporation, copartnership, or associ
Ike ton, of which he is member, or in Whi
cir he is interested, shall at any time owe Z
tai Exchequer more than, say ten thousa
as dollars, as payer or payers, and the 81
*, of one hundred thousand dollars is fixed
10, the amount beyond which no discoul
es- lean, or advance shall be made to any
III, dividual, copartnership, corporation,
rs, association, except upon obligations of
IN, government of the United States !; and
lie, advances, loans, or discounts on such &
90, eminent bonds or obligations shall \
rt- exceed the face-value thereof: Proud
ia, that the interest In the capital stock of |
nd, Exchequer shall always be bound for a
? debt due to it by any shareholder
led shareholders, or copartnerships, corpo
nor tons, or associations in which he or th
the may have any interest. +.
Ell SEC. Is. That as soon as twenty 4
ted thousand shares ale subscribed for up
|, of the terms of this bill, then an organizat
ded may be completed as provided for: +
emit uiled, that any person or persons, as
ire. citation or corporation, may at any tir
: if the full amount of shares are not alre,
,bv subscribed for, subscribe for any sha
ari- upon the same terms Of the original s
ING scribers: And prouided moreover, t
ne. the books of subscription shall rem
fits. open for thirty days, accessible to all
ere. sons DESTROYS of subscribing and no
mt. person or concern, corporation, or any
- sociation can subscribe for or hold 10