The midland journal. (Rising Sun, Md.) 1885-1947, 1891-06-05
THE ALLIANCE SUB-TREAS.
URY BILL.

United States Of America In CONGRESS
assembled. That there may be estab-
lished in each of the counties of each
of the States of this United States, q
branch Of the Treasury Department Of
the United States, to be known and des.
ignatsd as sub treasury, as hereinafter
provided, when one hundred or more
citizens Of any county in any State shall
petition the Secretary Of the Treasury
requesting the location of q sub.treasury
in such county, and shall.
/. Present written evidence duly
authenticated 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 two years exceeds the
sum Of $500, 900, at current prices in
said county at that time, and,
2. Present good and sufficient bond
for title to suitable and adequate
amount Of land to be donated TO the
Government Of the United States for
the location Of the sub.treasury build
ings, and,
8. A certificate Of election showing
that the site for the location of such
sut.trsasury has been chosen by pop
ular vote Of the citizens of that county,
and also naming the manager Of the
sub, treasury elected at said election for
the purpose of taking charge Of said
sub treasury under such regulations as
may Be prescribed. It shall in that
case be the duty Of the Secretary Of the
Treasury to proceed without delay to
establish sub.treasury department in
such county as hereinafter provided.
SEC, 2. That any owner Of cotton
wheat, corn, oats, or tobacco may de-
post the same in the sub.treasury
nearest the point of its production, and
receive therefor treasury notes, herein
alter provided for, equal at the date of
deposit to eighty per centum Of the net
value Of such products at the market
price, said price to be determined by
the Secretary Of the Treasury, under
rules and regulations prescribed. based
upon the price currant 10 the leading
cotton, tobacco, or grain markets Of the
United States but no deposit consist
ing in whole or in part of elton, tobacco,
OF grain imported into this country
shall be received under the provisions
Of this act.
SIC. 8. That the Secretary Of the
Treasury shall cause to be prepared
treasury notes in such amounts as may
be required for the purpose of the
above section, and in such form and
denominations as he may prescribe,
provided that no note shall be Of d
denomination of less than 81, or more
than 81, 900.
SEC. 4. That the treasury notes
issued under this act shall be receivable
for customs, and shall be full Legal
tender for all debts. both public and
private, and such notes when held by
any national banking association shall
be counted as part of its lawful reserve
5. 1t shall be the duty of the man
ager of sub. treasury when cotton
grain, or tobacco is received by him OF
deposit, as above provided, to give I
warehouse receipt showing the amour
and grade or quality Of such cotton
tobacco, or grain, and its value at dat,
OF deposit; the amount Of treasury note
the sub.treasury has advanced on tn
product, that the interest on the none,
SO advanced is at the rate of ] pc
centum per annum; expressly stating
the amount of insurance, weighing
chasing, warehousing, and othe
charges that will run against such de-
post Of cotton, grain. or tobacco. AL
such warehouse receipts shall be nego-
table BY endorsement.
SEC. 6. That the cotton; grain, o
tobacco deposited 10 the sub treasur.
under the provisions of this act may b.
redeemed by the holder Of the ware
house receipt herein provided for
either at the sub.treasury in which tn
product is deposited, or at any othe
sub.treasury, by the surrender Of sucl
warehouse receipt and the payment ii
lawful money Of the United States o
the same amount originally advance,
by the sub.treasury against the product
and such further amount as may b,
necessary to discharge all interest tina
may have accrued against the advanc,
Of money made on the deposit Of pro-
duce. and all insurance, warehouse anG
nkhan oha.r.n. kh.k 1871 A.. Al