The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1891-04-11
SUB-TREASURY BILL.
FULL TEXT OF THE BILL AS INTRO
DUcED IN CONGRESS.
An act 70 INCREASE CURRENCY.


A Measure That the Farmers Alliance
Demands Of Congress as q Just Recog-
nit,on and and ReIisffo tho Farmers Of
the Country. E.A III |
Section l. Be It enacted by the |
Senate and House of Representa-
tiyes of tke United States, That
there may be established ~ each |
of the counties of the States. a
branch of the Treasury Depart
ment of the United States to be
known and designated the Sub
Treasury. as hereinafter provided,
when 100 or more citizens of any
county 10 any State shall petition
the Secretary of the Treasury,
requesting the location of a Sub.
Treasury 10 such county; aud
shall,
1. Present written evidence,
duly authenticated by oath or
affirmation of county clerk and
sheriff, showing that the average
gross amount per annum of cot
ton, wheat, oats, corn and
tobacco produced and sold IN that
county for the last preceding two
yeals exceeds the sum of $780,
600 at current prices IN SAID
county al the time; and,
faa
2. Present a good and sufficient
bond for tltle to q suitable and
adequate amount OF land to be
donated to the Government of
the U0ited States for the location
of the Sub-Treasury building;
and
3. A certificate of election show
ing that the site for the location
OF such Sub Treasury has been
chosen by popular vote of the
citizens Of the 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.
1t shall IN thai case be the duty
of the SECRETARY of the Treasury
TO proceed without delay to estab-
lish a Sub-Treasury department.
In such county as hereinafter
provided.
Sec. q. That any owner OF cot
Ton, wheat, corn, oats or tobacco
nay deposit the same in the Sub
Treasury nearest the point Of Its
production, ana receive therefor
treasury notes, hereinafter pro-
vided for, equal at the date of de-
post to 50 per centrm of the net
value of such products at the
market price, SAID price to be de-
termined BY the Secretary of the
Treasury under rules and regula-
tons prescribed, based upon the
price current in the leading cot
ton. tobacco or grain markets OF
the United States but no deposit
consisting In whole or IN part oi
cotton. tobacco or grain imported
into this country shall be received
uud,r the provisions of this act.
Sec. 8. That the Secretary OF
the Treasury shall cause to be
, prepared treasury notes in such
amount as may be required foI
} the purpose of the above se-ticn
and IN such form and dsnomlna-
tions as he may prescribe, pro.
vided that no note shall be OF
denomination less than 81, ol
,ore than $1,000.
1 1Sec. 4. That the treasury notes
a maed under this act shall b, re
wied for customs and shall b
shslI legal tender for all debts
Va bubllc aud private and suct
lin,-s when held BY any nations
his " association, shall bs
EEL, bas part of its lawful re
Lill shd
shall bs the duty Of
ple,t of Sub-TreasurY
oh tim, grain, or tobacco II
hool y hlm on deposit a
It witlded. to give ware
.a.x apt showing the amcunl
i ,oss and quality of sucf
used obacco or grain and IT
q. 10 ffaea- date of deposit; ih'
aap nssxs paless the Sub