Copiah signal. (Hazlehurst, Miss.) 1888-1899, 1891-04-09
The SUB-TRgASURY BILL.
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Section l. Bc il enacted oy the
SENATE and house oi Representa-
tives ~ the United States. that
there may be- established IN each II
the counties II the States a branch
ot the treasury departm, ut ~ the
United States Ia h, knoNn hnd he
slgnatei the Sub Treasury. ~ here
matter provided, when 100 or mnrc
citizens ~ any county in any state
shall petition the secretary ~
the Treasury. requesting the lorA
tlon of Sub Treasury ia such
county aud shall.
] Present written evidence. duly
authenticated by oath or ailirma.
tIon ~ county clerk anl sheriff.
showing that the average vros,
amount per annum of cotton. wheat
oats, corn aud tobacco prnlur,4l
aud sold in that county Tor the last
preceding tWo years eAc,sis the
sum ~ SjtO.OOO az current prices,
Ia said county al that time. enl
2 Present goud and sufficient
bond for title to "a suitable and al
equste amount oF land Ia h. lnnat-
ed Ia the Government oi the Cnite,l
States for the location of the Sub.
treasury building. and
3 4 certificate ot election show
IN that the site Tor the l,sailun II
such Sub-trrasury has l-ru chosen
by popular vote of the citizens ol
the county, aHd also naming the
manager II the Sub-trcssury elect.
ell At said election for tho purlu-e
OF taking cuarge II said Sub Iryas-
ury und"r such regulations a. may
he prescribed II shall ia that
case be the duty of the secretar, 1T
the Treasury to pruccetl without
delay to establish Sub rreaSur,
department ia such county As here
matter provided
Ssc. 2 That any owner 81 cot
ton, wheat, curn, oats or tobacco
may depo,it the same in the Sab
Treasury nearest the point of it,
proluctinn. and receive therefor
treasury notes, hereinafter pro,id-
e,i Tor. equal At the date II drIrslt
Ia 10 per centGm of th" net value
Of such products at the market
price, said price Ia be determined
10y the SECRETARY # the Treasury
uu,ler rules and regulations pre-
scribssl, hased upon the price cur
rent ia th" leading cotion. tolacro.
or grain markets ia the Uui,ei
States, but M deposit consisting
IA whole or in part IT cotton, To-
bac - or grain imported into this
country shall b. received uaIcr
the provisions of this act.
See D That Che secretary of the
treasury shall cause a. be prepared
treasury notes Ia such am lunls a.
may bc required for the puiIs,.e of
the above s'ctinn. and IA such form
and denomination. as b. may pre-
scribe. prosilyl no note shall be ol
a denomination les than u, or
more than $1,000
Sec. l. That the treasury notes
Issue,l under this act shall b. re-
reive,l for customs. and shall bc a
full legal tender Tor all debts. buth I
public and private, and such notes 1
" hen held by any national bank. 4
Ing association, shall be counted ~
part of lts lawful reserve.
Ss.c. b Ii shall be the duty of
the manager of a sub treasury, /
shen cotton, grain or tobacco il
r'ceived by him on deposit ~
above provided. to give ware
house receipt showing the amount
and grade and quality of such cot
on, tobacco or grain, and It's value
~ the date 1T d.p,lsii. the amount
II treasury notes the sub-trcasury
nas advanced on the product, that
he interest on the money 50 all
ganced nj the rate III one per cent
ana per annnm; expressly stating
.he amount of insurance. wei eighing
,lassing. warehousing anil other
charges u at will run against such
lepCssit OF cotton. grain or tobacch
AL such warehouse res eipts shall
De negotiable by indorsvlnsnt
Sec. o. That the cotton. grain OF
ol'aeco deposited in the sub-treas-
iry un,ler the provisions Of this
vt may be redeemed by the hall-
" OF the warehouse receipt herein
provided for, either at the sub
reasury IN whieh the product Is
iepositssd, or At amy other sub
reasury by the surrender Of such