Four receivers-general to

One at New

Boston, one at

and one at St. Louis

of the Treasurer of the United States, his assistants and clerks and sufficient and secure fire-proof vaults and safes for the keeping of the public moneys in the possession and under the immediate control of the said Treasurer; which said rooms, vaults, and safes, are hereby constituted and declared to be, the Treasury of the United States. And the said Treasurer of the United States shall keep all the public moneys which shall come to his hands in the Treasury of the United States, as hereby constituted, until the same are drawn therefrom according to law.

(Section 2 provides that the mint at Philadelphia and the branch mint at New Orleans, and the vaults and safes thereof, shall be places of deposit, and that the treasurers of the said mint and branch mint, respectively, shall have custody of all public moneys deposited therein and perform all the duties prescribed by this act relating to such moneys.

(Sections 3 and 4 require that in the custom-houses of New York and Boston and at the cities of Charleston and St. Louis, suitable rooms and sufficient and secure fireproof vaults and safes shall be prepared for the use of the receivers-general of public money, who shall have the custody of all public moneys deposited therein and shall perform all the duties prescribed by this act relating to such moneys.)

SEC. 5. And be it further enacted, That the President be appointed. shall nominate, and by and with the advice and consent York, one at of the Senate, appoint four officers, to be denominated Charleston," receivers-general of public money," which said officers shall hold their respective offices for the term of four years, unless sooner removed therefrom; one of which shall be located at the city of New York, in the State of New York; one other of which shall be located at the city of Boston, in the State of Massachusetts; one other of which shall be located at the city of Charleston, in the State of South Carolina; and the remaining one of which shall be located at the city of St. Louis, in the State of All required Missouri; and all of which said officers shall give bonds to the United States, with sureties according to the provsions hereinafter contained, for the faithful discharge of the duties of their respective offices.

to give bonds.

charged with

Officers SEC. 6. And be it further enacted, That the Treasurer the custody of of the United States, the treasurer of the Mint of the the public

moneys-their United States, the treasurers, and those acting as such,

duties.

of the various Branch Mints, all collectors of the customs, all surveyors of the customs acting also as collectors, all receivers-general of public moneys, all receivers of public moneys at the several land offices, and all postmasters, except as hereinafter particularly provided, be, and they are hereby, required to keep safely, without loaning or using, all the public money collected by them, or otherwise at any time placed in their possession and custody, till the same is ordered by the proper department or officer of the Government to be transferred or paid out; and when such orders for transfer or payment are received, faithfully and promptly to make the same as directed, and to do and perform all other duties as fiscal agents of the Government, which may be imposed by this or any other acts of Congress, or by any regulation of the Treasury Department, made in conformity to law; and also to do and perform all acts and duties required by law, or by direction of any of the Executive Departments of the Government, as agents for paying pensions, or for making any other disbursements which either of the heads of those departments may be required by law to make, and which are of a character to be made by the depositaries hereby constituted, consistently with the other official duties imposed upon them.

(Section 7 requires bonds to be given by the treasurers and receivers-general, etc.

(Section 8 requires bonds to be given and renewed by the other depositaries constituted by this act.

(By sections 9, 10, and 11 it is required that all collectors and receivers of public money shall, as often as may be directed, pay over the moneys collected by them, those in the District of Columbia to the Treasurer of the United States, those in Philadelphia and New Orleans to the treasurers of the mints, respectively, and those in New York, Boston, Charleston, and St. Louis to the receiversgeneral in their respective cities, and it is made the duty of the Secretary of the Treasury and Postmaster-General to direct such payments to be made as often as once in every week. Provision is made for the transfer of money from one depositary to any other, at the direction of the. Secretary of the Treasury, and for the like transfer of moneys belonging to the Post-Office Department by the Postmaster-General; and every depositary is required to keep his account of money belonging to that department separate from his account of other public moneys. And 15712-10-9

The balances remaining with

positaries to be withdrawn.

all moneys in the hands of any depositary are to be considered as deposited to the credit of the Treasurer of the United States and to be, at all times, subject to his draft.

(By sections 12 and 13, provision is made for the examination of the accounts and money on hand of the several depositaries by special agents appointed for that purpose, and further for a like examination, at least once in every quarter, by public officers who are required to act as a check upon all receivers, collectors, treasurers, and persons acting as such.

(Section 14 authorizes necessary expenses for clerks, fire-proof chests, etc.)

SEC. 15. And be it further enacted, That the Secretary the present de of the Treasury shall, with as much promptitude as the convenience of the public business, and the safety of the public funds will permit, withdraw the balances remaining with the present depositaries of the public moneys, and confine the safekeeping, transfer, and disbursement of those moneys to the depositaries established by this act.

Payments of

public money to

States and pay

ents to whom to be made.

SEC. 16. And be it further enacted, That all marshalls, the United district attorneys, and others, having public money to ments for pat pay to the United States, and all patentees, wishing to make payment for patents to be issued, may pay all such moneys to the Treasurer of the United States, at the Treasury, to the Treasurer of either of the Mints, in Philadelphia or New Orleans, to either of the receiversgeneral of public money, or to such other depositary constituted by this act as shall be designated by the Secretary of the Treasury, in other parts of the United States, to receive such payments, and give receipts or certificates of deposite there for.

Other rooms to be procured.

(By section 17 all officers entrusted with public moneys, except those connected with the Post-Office Department, are required to keep an accurate account of all receipts and payments, showing the kind of currency received or paid; and it is declared to be embezzlement and felony for any such officer or for any officer of the Post-Office Department to convert to his own use, or to use by investment, or to loan any portion of the public moneys entrusted to him.)

SEC. 18. And be it further enacted, That until the rooms, offices, vaults, and safes, directed by the first four sections of this act to be constructed and prepared for the use of the Treasurer of the United States, the treas

urers of the mints at Philadelphia and New Orleans, and the receivers-general of public money at New York, Boston, Charleston, and St. Louis, can be constructed and prepared for use, it shall be the duty of the Secretary of the Treasury to procure suitable rooms for offices for those officers at their respective locations, and to contract for such use of vaults and safes as may be required for the safekeeping of the public moneys in the charge and custody of those officers respectively, the expense to be paid by the United States.

SEC. 19. And be it further enacted, That from and after the thirtieth day of June, which will be in the year one thousand eight hundred and forty, the resolution of Congress of the thirtieth day of April, in the year one thousand eight hundred and sixteen, so far as it authorizes the receipt in payment of duties, taxes, sales of public lands, debts, and sums of money, accruing or becoming payable to the United States, to be collected and paid. in the notes of specie-paying banks, shall be so modified as that one fourth part of all such duties, taxes, sales of public lands, debts, and sums of money accruing or becoming due to the United States, shall be collected in the legal currency of the United States; and from and after the thirtieth day of June, which will be in the year one thousand eight hundred and forty-one, one other fourth part of all such duties, taxes, sales of public lands, debts, and sums of money, shall be so collected; and that from and after the thirtieth day of June, which will be in the year one thousand eight hundred and forty-two, one other fourth part of all such duties, taxes, sales of public lands, debts and sums of money, shall be so collected; and that from and after the thirtieth day of June, which will be in the year one thousand eight hundred and forty-three, the remaining fourth part of the said duties, taxes, sales of public lands, debts, and sums of money, shall be also collected in the legal currency of the United States; and from and after the last-mentioned day, all sums accruing, or becoming payable to the United States, for duties, taxes, sales of public lands, or other debts, and also all sums due for postages, or otherwise, to the General Post Office Department, shall be paid in gold and silver only.

Duties, how to be paid, etc.

All payments on account of

SEC. 20. And be it further enacted, That from and after the thirtieth day of June, which will be in the year one U. S. to be in thousand eight hundred and forty-three, every officer or only.

gold and silver

agent engaged in making disbursements on account of the United States, or of the General Post Office, shall Violations of make all payments in gold and silver coin only; and any preceding sec- receiving or disbursing officer, or agent, who shall neglect,

this and the

tion.

To be no difference be

funds receivable.

evade, or violate, the provisions of this and the last preceding section of this act, shall, by the Secretary of the Treasury, be immediately reported to the President of the United States, with the facts of such neglect, evasion, or violation, and also to Congress, if in session, and, if not in session, at the commencement of its session next after the violation takes place.

* *

(Section 21 forbids any disbursing officer to make any exchange of funds other than an exchange for gold and silver, and requires every such officer to make his payments in the currency furnished him when legally receivable under the provisions of this act, "unless he can exchange the means in his hands for gold and silver at par, and so as to facilitate his payments, or otherwise accommodate the public service and promote the circulation of a metallic currency.")

SEC. 22. And be it further enacted, That it shall not tween the be lawful for the Secretary of the Treasury to make. or continue in force, any general order, which shall create any difference between the different branches of revenue, as to the funds or medium of payment, in which debts or dues accruing to the United States may be paid.

(Sections 23 and 25 make it the duty of the Secretary of the Treasury to make regulations prescribing the time within which drafts on the depositaries shall be presented for payment, but require him "to guard, as far as may be, against those drafts being used or thrown into circulation, as a paper currency, or medium of exchange." The Treasurer of the United States, however, is authorized to receive payments for public lands in advance, and to give therefor his receipts, which shall be receivable for public lands in the same manner as the currency authorized by law, provided, that such receipts shall not be negotiable or transferable by delivery or assignment, but shall be in all cases presented in payment by or for the person named therein.

(Section 26 makes appropriation for purchase of sites and construction of offices, etc.

(Section 27 makes appropriation for other expenses authorized by this act.)