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annually, on the first Mondays of April and November; and he shall, in all things, have and exercise the same jurisdiction and powers which were by law, given to the judge of the Kentucky Act of 1789, c. district under the act entitled “An act to establish the judicial ; vol. 1, p. courts of the United States.” He shall appoint a clerk for the “” said district court, who shall reside and keep the records of the court at the place of holding the same; and shall receive for the services performed by him, the same fees to which the clerk of the Kentucky district is entitled for similar services. § 5. And be it further enacted, That there shall be allowed to Salary of the the judge of the said district court, the annual compensation of jog". two thousand dollars, to commence from the date of his appoint§. to be paid quarter-yearly at the treasury of the United tates. § 6. And be it further enacted, That there shall be appointed in Attorney to the said district, a person learned in the law, to act as attorney be appointed. for the United States, who shall, in addition to his stated fees, be paid by the United States two hundred dollars, as a full compensation for all extra services. § 7. And be it further enacted, That a marshal shall be ap-Marshal. pointed for the said district who shall perform the same duties, be subject to the same regulations and penalties, and be entitled to the same fees, as are prescribed to marshals in other districts; and he shall moreover, be entitled to the sum of two hundred dollars annually, as a compensation for all extra services. § 8. And be it further enacted, That the state of Arkansas is Public lands admitted into the Union upon the express condition, that the peo- it.” ple of the said state shall never interfere with the primary dispo- stat.” sal of the public lands within the said state, nor shall they levy a tax on any of the lands of the United States within the said state; and nothing in this act shall be construed as an assent by Congress to all or to any of the propositions contained in the ordinance of the said convention of the people of Arkansas, nor to deprive the said state of Arkansas of the same grants, subject to the same restrictions, which were made to the state of Missouri by virtue of an act entitled “An act to authorise the people of Act of 1820, the Missouri territory to form a constitution and state govern- o vol. 3. p. ment, and for the admission of such state into the Union, on an * equal footing with the original states, and to prohibit slavery in certain territories,” approved the sixth day of March, one thousand eight hundred and twenty. [Approved, June 15th, 1836.]

CHAP. 115. An act to regulate the deposites of the public money.

§ 1. Be it enacted, &c. That it shall be the duty of the secretary Secretary of

of the treasury to select as soon as may be practicable and em- . treasury - - - - select

ploy as the depositories of the money of the United States, such .
of the banks incorporated by he several states, by Congress for
the District of Columbia, or by the legislative councils of the
respective territories for those territories, as may be located at,
adjacent or convenient to the points or places at which the reve-
nues may be collected, or disbursed, and in those states, territories,
or districts in which there are no banks, or in which no bank can

be employed as a deposite bank, and within which the public col

w -

lections or disbursements require a depository, the said secretary may make arrangements with a bank or banks, in some other state, territory or district, to establish an agency, or agencies, in the states, territories or districts so destitute of banks, as banks of deposite; and to receive through such agencies such deposites of the public money, as may be directed to be made at the points designated, and to make such disbursements as the public service may require at those points; the duties and liabilities of every bank thus establishing any such agency to be the same in respect to its agency, as are the duties and liabilities of deposite banks Proviso. so under the o: of this act: Provided, That at . east one such bank shall be selected in each state and territory, if any can be found in each state and territory willing to be employed as depositories of the public money, upon the terms and conditions hereinafter prescribed, and continue to conform thereto ; and that the secretary of the treasury shall not suffer to remain in any deposite bank, an amount of the public moneys more than equal to three-fourths of the amount of its capital stock actually paid in, for a longer time than may be necessary to enable him to make the transfers required by the twelfth section of this act; and that the banks so selected, shall be in his opinion, safe depositories of the public money, and shall be willing to undertake to do and perform the several duties and services, and to conform to the several conditions prescribed by this act. Where there $ 2. And be it further enacted, That if, at any point or place at o,” which the public revenue may be collected, there shall be no bank ...tary ap. located, which, in the opinion of the secretary of the treasury is proves, or in a safe condition, or where all the banks at such point or place . o: shall fail or refuse to be employed as depositories of the public i. i., money of the United States, or to comply with the conditions made at some prescribed by this act, or where such banks shall not have suffiplate adja cient capital to become depositories of the whole amount of cent. moneys collected at such point or place, he shall and may order and direct the public money collected at such point or place to be deposited in a bank or banks in the same state, or in some one or more of the adjacent states upon the terms and conditions hereProviso. inafter prescribed: Provided, That nothing in this act contained shall be so construed as to prevent Congress at any time from passing any law, for the removal of the public money from any of the said banks, or from changing the terms of deposite or to !. the said banks at any time from declining any longer to e the depositories of the public money upon paying over, or tendering to pay, the whole amount of public moneys on hand, according to the terms of its agreement with the said secretary. Banks to fur- $ 3. And be it further enacted, That no bank shall hereafter be *::::::: selected and employed by the secretary of the treasurer as a deposcopy for itory of the public money, until such bank shall have first furnishter, &c., ed to the said secretary a statement of its condition and business, a list of its directors, the current price of its stock; and also a copy of its charter; and likewise, such other information as may be necessary to enable him to #. the safety of its condition. §4. And be it further enacted, ' the said banks, before they shall be employed as the depositories of the public money, shall

agree to receive the same, upon the following terms and condi-
tions, to wit: -
First. Each bank shall furnish to the secretary of the treasury,

from to time, as often as he may require, not exceeding once a .

week, statements setting forth its condition and business, as pre-
scribed in the foregoing section of this act, except that such state-
ments need not, unless requested by said secretary, contain a list
of the directors, or a copy of the charter. And the said banks
shall furnish to the secretary of the treasury, and to the treasurer
of the United States, a weekly statement of the condition of his
account upon their books. ...} the secretary of the treasury shall
have the right, by himself, or an agent appointed for that purpose,
to inspect such general accounts in the books of the bank, as shall
relate to the said statements: Provided, That this shall not be
construed to imply a right of .."; the account of any pri-
vate individual or individuals with the bank.
Secondly. To credit as specie, all sums deposited therein to the

Terms to be agreed to by the banks.

Proviso.

credit of the treasurer of the United States, and to pay all checks,' .

warrants, or drafts, drawn on such deposities, in specie if required
by the holder thereof.
Thirdly. To give, whenever required by the secretary of the
treasury, the necessary facilities for transferring the public funds
from place to place, within the United States, and the territories
thereof, and for distributing the same in payment of the public
creditors, without charging commissions or claiming allowance
on account of difference of exchange.
Fourthly. To render to the government of the United States,
all the duties and services heretofore required by law to be per-
formed by the late Bank of the United States and its several
branches or offices. -
§ 5. And be it further enacted, That no bank shall be selected
or continued as a place of deposites of the public money which shall
not redeem its notes and i. on demand in specie ; nor shall any
bank be selected or continued as aforesaid, which shall after the
fourth of July, in the year one thousand eight hundred and thirty-
six, issue or pay out any note or bill of a less denomination than
five dollars; nor shall the notes or bills of any bank be received
in payment of any debt due to the United States which shall, after
the said fourth day of July, in the year one thousand eight hun-
dred and thirty-six, issue any note or bill of a less denomination
than five dollars.
§ 6. And be it further enacted, That the secretary of the trea-
sury shall be, and he is hereby authorised, and it shall be his duty,
whenever in his judgment the same shall be necessary or proper,
to require of any bank so selected and employed as aforesaid,
collateral or additional securities for the safe keeping of the pub-
lic moneys deposited therein, and the faithful performance of the
duties required by this act.
§ 7. And be it further enacted, That it shall be lawful for the
secretary of the treasury, to enter into contracts in the name and
for and on behalf of the United States, with the said banks so
selected or employed, whereby the said banks shall stipulate to
o and perform the several duties and services prescribed by
this act. * -

Banks issuing notes less than five dollars not to be selected.

Secretary may require security.

Secretary authorised to enter into contracts.

No bank selected to be discontinued but for certain Causes.

§ 8. And be it further enacted, That no bank which shall be selected or employed as the place of deposite of the public money, shall be discontinued as such depository, or the public mone withdrawn therefrom, except for the causes hereinafter mentioned, that is to say: if at any time, any one of said banks shall fail or refuse to perform any of said duties as prescribed by this act, and stipulated to be performed by its contract; or, if any of said banks shall at any time refuse to pay its own notes in specie if demanded; or shall fail to keep in its vaults such an amount of specie as shall be required by the secretary of the treasury, and shall be, in his opinion, necessary to render the said bank a safe depository of the public moneys, having due regard to the nature of the business transacted by the bank; in any and every such case it shall be the duty of the secretary of the treasury to discontinue any such bank as a depository, and withdraw from it the public moneys which it may hold on deposite at the time of such discontinuance. And in case of the discontinuance of any of said banks, it shall be the duty of the secretary of the treasury to report to Congress

immediately if in session, and if not in session, then at the com

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mencement of its next session, the facts and reasons which have
induced such discontinuance. And in case of the discontinuance
of any of said banks as a place of deposite of the public money
for any of the causes herein before provided, it shall be lawful for
the secretary of the treasury to deposite the money thus with-
drawn in some other bank of deposite already selected, or to
select some other bank as a place of deposite, upon the terms and
conditions prescribed by this act. Añd in default of any bank to
receive o deposite, the money thus withdrawn shall be kept by
the treasurer of the United States, according to the laws now in
force, and shall be subject to be disbursed according to law.
§ 9. And be it further enacted, That until the secretary of the
treasury shall have selected and employed the said banks as
places of deposite of the public money, in conformity to the pro-
visions of this act, the several state and district banks at present
employed as depositories of the money of the United States, shall
continue to be the depositories aforesaid upon the terms and con-
ditions upon which they have been so employed.
§ 10. And be it further enacted, That it shall be the duty of the
secretary of the treasury to lay before Congress at the commence-
ment of each annual session, a statement of the number and names
of the banks employed as depositories of the public money, and of
their condition, and the amount of public money deposited in each,
as shown by their returns at the treasury; and if the selection of
any bank as a depository of the public money be made by the
secretary of the treasury, while Congress is in session, he shall
immediately report the name and condition of such bank to Con-
gress; and if any such selection shall be made during the recess
of Congress, he shall report the same to Congress during the first
week of its next session.
§ 11. And be it further enacted, That whenever the amount of
public deposites to the credit of the treasurer of the United States, ,
in any bank shall, for a whole quarter of a year, exceed the one-
fourth part of the amount of the capital stock of such bank

actually paid in, the banks shall allow, and pay to the United States, for the use of the excess of the deposites over the onefourth part of its capital, an interest at the rate of two per centum

per annum, to be calculated for each quarter, upon the average excesses of the quarter; and it shall be the duty of the secretary of the treasury at the close of each quarter, to cause the amounts on deposite in each deposite bank for the quarter, to be examined and ascertained, and to see that all sums of interest accruing under the provisions of this section, are by the banks respectively passed to the credit of the treasurer of the United States, in his accounts with the respective banks.

§ 12. And be it further enacted, That all warrants or orders Transfers un

for the purpose of transferring the public funds from the banks in
which they now are, or may hereafter be deposited, to other banks,
whether of deposite or not, for the purpose of accommodating the
banks to which the transfer may be made, or to sustain their cre-
dit, or for any other purpose whatever, except it be to facilitate
the public disbursements, and to comply with the provisions of
this act, be, and the same are hereby prohibited, and declared to
be illegal; and in cases where transfers shall be required for pur-
poses of equalization under the provisions of this act, in conse-
quence of too great an accumulation of deposites in any bank,
such transfers shall be made to the nearest deposite banks which
are considered safe and secure, and which can receive the moneys
to be transferred under the limitations in this act imposed: Pro-
vided, That it may be lawful for the President of the United States
to direct transfers of public money to be made from time to time
to the mint and branch mints of the United States, for supplying
metal for coining.
§ 13. And be it further enacted, That the money which shall be
in the treasury of the United States, on the first day of January,
eighteen hundred and thirty-seven, reserving the sum of five mil-
lions of dollars, shall be deposited with the several states, in pro-
portion to their respective representation in the senate and house
of representatives of the United States, as shall, by law, authorize
their treasurers, or other competent authorities to receive the same,
on the terms hereinafter specified, and the secretary of the trea-
sury shall deliver the same to such treasurer, or other competent
authorities, on receiving certificates of deposite therofor, signed by
such competent authorities, in such form as may be prescribed by
the secretary aforesaid, which certificates shall express the usual
and legal obligations, and pledge the faith of the state for the safe
keeping and repayment thereof, and shall pledge the faith of the
states receiving the same, to pay the said moneys, and every part
thereof, from time to time, whenever the same shall be required
by the secretary of the treasury, for the purpose of defraying any
wants of the public treasury, beyond the amount of the five mil-
lions aforesaid: Provided, That if any state declines to receive
its proportion of the surplus aforesaid, on the terms before named,
the same shall be deposited with the other states, agreeing to
accept the same on deposite in the proportion aforesaid: And pro-
vided further, That when said money, or any part thereof shall be
wanted by the said secretary, to meet appropriations by law, the

der certain cases declared

The surplus in treasury

$5,000,000, to be deposited with the several states.

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