The great West. [volume] (St. Paul, Minn.) 1889-18??, 1890-03-14

l r. SASANOSS GA0 GU0OVO 0ROC1ue>u 6udIl IKE
returned, with q full report of the
transaction, to the Secretary of the
Treasury, who shall make record ol
the transaction and cancel and des-
troy the money so returned. A sub
treasury that receives a warehouse
receipt as above provided, together
with the return Of the proper amount
OF lawful money and all charges as
herein provided, when the product
Tor which it is given is stored in some
other sub-treasury, shall give an or
der on such other sub-treasury, for
the delivery of the cotton, grain, or
tobacco, as the case may be, and the
Secretary OF the Treasury shall pro-
vide for the adjustment between sub
treasures of all charges.
SEC. z. The Secretary shall pre-
scribe such rules and regulations as
are necessary for governing the de-
tails OF the management of the sub
treasures, fixing the salary, bond
and responsibility Of each of the
managers of sub-treasuties (provid-
ed that the salary of any manager of
a sub-treasury shall not exceed the
sum OF 81 500 per annum), holding
the managers of sub-treasuries per-
sonally responsible on their bonds
for weights and classifcations of all
produce, providing for the rejection
OF understandable grades of cotton,
grain Or tobacco, or for such as may
be in bad condition; and shall pro-
vide rules for the sale at public auc-
ton OF all cotton, corn, oats, wheat or
tobacco that has been placed on de-
post for a longer period than twelve
months after due notice published.
The proceeds of the sale of such pro-
duct shall be applied, first, to the re-
endorsement to the sub-treasury of
the amount originally advanced, to-
gether with all charges; and, second,
the balance shall be held on deposit
for the benefit of the holder of the
warehouse receipt, who shall be en-
titled to receive the same on the sur
render of his warehouse receipt. The
Secretary of the Treasury shall also
provide rules for the duplication of
any papers in case of loss or destruc-
ton.
Sec, 8. It shall be the duty of the
Secretary Of the Treasury, when
section l OF this act shall have been
compiled with, to cause to be erected,
according to the laws and customs
government buildings, suitable
sub-treasury building, with such
warehouse or elevator facilities as
the character and amount of the pro-
ducts of that section may Indicate as
necessary. Such buildings shall be
supplied with all modern conyeniences
for handling and safely storing and
preserving the products likely to be
deposited.
Sec. 9. That any gain arising
from the charges for insurance, Weigh
ing, storing, CHASING, holding, ship
ing, interest or other charges, after
paying all expenses of conducting the
sub-treasury, shall be accounted for
and paid into the treasury of the
United States.
Sec. 10. The term of Office for a
manager of a sub-treasury shall be
two years, and the regular election
to fill such Office shall be at the same
time as the election for members of
the House of Representatives of the
Congress OF the United States. In
case of a vacancy in the office of man.
ager Of the sub-treasury by death,
resignation. or otherwise, the Secre-
tary of the Treasury shall have power
to appoint a manager for the unex-
pired term.
Sec. II. The sum OF fifty millions
of dollars, or so much thereof as may
be found necessary to carry out the
provisions of this act, is hereby ap-
propriated out of any moneys in the
treasury not otherwise appropriated,
for that purpose.
Sec. r. That so much of any or
all other acts as are in conflict with
the provisions of this act are hereby
repealed,
In relation to the subtreasury plan
presented by Mr.. Wardall at the