Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-07-31
The SUS-TREtSURY BILL.
Tie Ting that Macure and His Xix are
Striving For.


Section Z. Be it enacted r. the enate and
house Of representatives OF the United
States Of Am. 'ica in congress assembled,
that there may be established in each of the
counties of each of the states of this United
States 4 branch of the treasury department
OF the United States. to he sluOwn aid DIES
ignate6 as !: Sub-treasury. rs hereinafter
provided. when 100 OF more citizens of any
county in any state shall petition the secre-
tary of the treasury requesting the location
of a sub-treasury in such county. and shall,
/. Present written evidence. Il ~ a. hen
ticated by oath or affirmation Of county
clerk and sheriff. showing that the average
gross amount per annum of cotton, wheat,
oats, corn and tobacco produced and sold in
that county for the last preceding wo y ars
exceeds the sum of $500. 600 1T current prices
in said county at that time. and.
>. Present good and sufficient bond for
title to suitable and adequate amount OF
land to be donated TO the government of the
United States Ior the location OF the sub
treasury buildings, and
3. \ certificate of election showing that
the site for the location OF such sub-treasuIy
! : been chosen by i popular vote of the
citizens of that county, and also naming the
manager of the suO-treasury elected at said
election for the purpose of taking charge of
said Sub-treaSury unoer such regulations as
may be 7 escribed. 1t shall in that case be
the duty of the secretary of the treasury to
proc ed without delay 20 establ Il sub
treasury department n such county IS
here after provided
Sec. >. That any owner Of cotton wheat,
corn. oats or tobacco may deposit the same
in the sub-treasury nearest the point Of its
production. and receive therefor treasury
notes, hereinafter provided for, equal at he
date of deposit to so per cent
of the net value Of products al
Al. i h. 49,
mined by the secretary of the treasury IN
der rules and regulation prescribed, based
upon the price current in the iedding cottS.I,
tobacco or grain markets of the United
States; but no deposit consisting N whole
CT in part of cotton, tobacco or grain in
ported into this Hour try shall be received
under the provlsiUIs of this a
Sec. 8. That the secretary of the treasury
sail cause to be prepared treasury notes in
such amounts as may De required for the
purpo ,e of the above section, and in such
form and denominations as he may pre-
scribe, provided that no rote snail be of a
denomination of less than 81 or more than
$1,000
Se' That the treasury rOtes issue1
''nuer this act shall be receivable for Gus
tons, and shall De a full legal tender for all
debts, both public and private, and such
notes when held by anv national banking
association shall be counted as part of its
lawful reserve.
Sec s. 1t shall be the duty of the mana
ger of Sub-treasury when cotton, grain or
tobacco is received by him on deposit, as
above provided, to give 4 warehouse re-
ceipt showing the amount and grade or
quality Of such cotton, tobacco or grain,
and its value at date OF Deposit yhe amount
of treasury notes the sub-treaSury mas
advanced on the product; that the interest
on the money SO advanced is at the rate of
per cent per annum, expressly stating the
amount of insurance, weighing, CHASING,
warehorsing and other charges hat will
run against such deposit of cotton, grain or
tobacco. All such warehouse receipts shall
be negotiable by Endorsement.
Sec. 6. That the cotton, grain or tobacco
deposited in the sub-treasury under the pro-
y sions of this act may be redeemed by the
holder of the warehouse receipt herein pro-
vided for, either at the sub-treasury IN
which the product is deposited, or at any
other sub-treaSury. by the surrender OF such
warehouse receipt, and the payment in law
full money of the United States of the same
amount originally advanced by the sub
treasury against the product, and such
further amount as may be necessary to dis
charge all interest that may have accrued
against the advance OF money made on the
deposit of produce and all ...surance, We g.
house and other charges that attach to the
product for warehousing and handling
All lawful money received at the sub-treas-
ury as return of the actual amount Of
money advanced by the government against
farm products as above specified shall be
returned, with full report of the transac-
ton. to the secretary of the treasury, who
shall make record of the transaction. and
cancel and DESTROY the money so returned.
a Sub-treasury that receives q 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 for which it is given is
stored in some other suo-treasury, shall
give an order on such other sub-treasury
.or the delivery of the cotton, grain or
tobacco, as the case may be, and the Sec
ret4ry of the treasury shall provide for
the adjustment between sub-treasuries of
all charges.
Sec. :. The secretary of the treasury shall
Prescribe such rules and regulations as are
necessary for governing the dets Of the
mana ~ement OF the sub-treasuries, fixing
the salary, bond and responsibility of each
of the managers of sub-t~ea suries provided
that the salary IF any manager Of d sub
.reasury shall nc exceed the sum of $500
per annuml. holding the managers of sub
treasures personally responsible on their
bonds for weights and classifications of all
produce. providing for the rejection OF IN
merchantable grades Of cotton, grain or To-