United States Statutes at Large/Volume 5/25th Congress/1st Session/Chapter 9
Chap. IX.—An Act for adjusting the remaining claims upon the late deposite banks.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,The Secretary of the Treasury authorized to continue to withdraw the public moneys in the former deposite banks, in a manner as convenient to them as shall be consistent with the wants of the Government, &c.
Act of June 23, 1836, ch. 115.
This provisions to extend to moneys whether standing to the credit of the Treasurer U. S., or any other officer of the Government.
In case of any of said banks not complying with the requisitions of the Secretary of the Treasury, suits shall be instituted, unless, &c. That the Secretary of the Treasury be, and he is hereby, authorized to continue to withdraw the public moneys now remaining in any of the former deposite banks, in a manner as gradual and convenient to the institutions as shall be consistent with the pecuniary wants of the Government, and the safety of the funds thus to be drawn; and that no further interest than that required by the deposite act of the twenty-third of June, one thousand eight hundred and thirty-six, under which those deposited were made, shall be demanded of any bank which has met, and shall hereafter meet, the requisitions of the Department. This provision shall also extend to such public moneys as remain in any of the said banks, whether standing to the credit of the Treasurer of the United States, or of any disbursing or other public officer of the Government.
Sec. 2. And be it further enacted, That in case of neglect or refusal by any of the said banks to comply with the requisitions of the Secretary of the Treasury, as he shall make them, in conformity with the first section of this act, suits shall be instituted, where that has not already been done, to recover the amounts due to the United States, unless the defaulting bank shall forthwith cause, to be executed and delivered to the Secretary of the Treasury a bond, with security to be approved by the Solicitor of the Treasury, to pay to the United States, the whole moneys due from it, in three instalments: the first to be paid on the first day of July next, the second on the first day of January, eighteen hundred and thirty-nine, and the remaining instalment on the first day of July, eighteen hundred and thirty-nine; and the default mentioned in this act, on which interest is to commence at the rate of six per [centum per annum,] shall be understood to be the neglect or omission of said banks, or any of them, to answer the drafts or requisitions of the Secretary of the Treasury made on them according to the provisions of the first section of this act; and interest thereon at the rate of six per centum per annum, from the time of default, together with any damages which may have accrued to the United States from protests of drafts drawn upon it, or from any other consequence of its failure to fulfil its obligations to the public treasury.
Approved, October 16, 1837.