Report on the Removal of the Deposites, Made by Mr. Webster, From the Committee on Finance of the Senate, on the 5th of February, 1834 (Classic Reprint)
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Stand: | 2015-08-04 03:50:33 |
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Produktbeschreibung
Excerpt from Report on the Removal of the Deposites, Made by Mr. Webster, From the Committee on Finance of the Senate, on the 5th of February, 1834 Mr. Webster, from the Committee on Finance, made the following report: The Committee on Finance, to whom has been referred the report of the Secretary of the Treasury of the 3d December, 1833, on the removal of the public deposites from the Bank of the United States, and a resolution, submitted to the Senate by an honorable member from Kentucky, declaring that the reasons assigned by the Secretary for the removal of the said deposites are unsatisfactory and insufficient, have agreed on the following report: The act incorporating the Bank of the United States, as is justly remarked by the Secretary, is a contract, containing stipulations on the part of the Government and on the part of the corporation, entered into for full and adequate consideration. The Government became party to this contract by granting the charter, and the stockholders by accepting it. "In consideration, says the charter, of the exclusive privileges and benefits conferred by this act on the said Bank, the president and directors thereof shall pay to the United States, out of the corporate funds thereof, one million and five hundred thousand dollars, in three equal payments; and, in another section, it declares that during the continuance of this act, and whenever required by the Secretary of the Treasury, the said corporation shall give the necessary facilities for transferring the public funds from place to place within the United States, or 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; and shall do and perform the several and respective duties of the commissioners of loans for the several States, or any one or more of them, whenever required by law." The section immediately following this provision is in these words: "And be it further enacted, That the deposites of the money of the United States, in places in which the said Bank or branches thereof may be established, shall be made in said Bank or branches thereof, unless the Secretary of the Treasury shall at any time otherwise order and direct; in which case the Secretary of the Treasury shall immediately lay before Congress, if in session, and, if not, immediately after the commencement of the next session, the reasons for such order or direction." About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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