Newspaper Page Text
6
A SUB • TREASURY BILL
[Republished by Request.]
In the House of Representatives,
January 9, 1893, Mr. Watson intro
duced the tollowing bill :
A BILL to create the office of Na
tional Inspector of cotton and
grain, to provide for the issuance
of certificates of deposit, for the
issuance of post office money or
ders thereon, to provide for the
payment and repayment of such
orders, and for other purposes.
Be it enacted by the Senate and
House of Representatives of the
United States of America in Con
gress assembled, That the office of
National Inspector of grain and cot
ton for the United States is hereby
created; that said office shall be a
part of the Department of Agricul
ture ; that a salary of ten thousand
dollars shall be attached to same, out
of which all clerical office expenses
shall be provided for, including sta
tionery, and so forth; that such in
snector shall be appointed by the
President, by and with the advice
and consent of the Senate, and that
such National Inspector shall hold
office for the term of four years, or
until his successor is appointed and
qualified ; unless sooner removed by
death, resignation, or removal for
cause ; that an office shall be assigned
him in the Department of Agricul
ture by the Secretary thereof. Such
inspector shall be at least thirty
years old, and shall have been a citi
zen of the United States at least ten
years.
Sec. 2. That it shall be the duty
of such National Inspector to pre
scribe and publish rules and regula
tions for the classification of all grain
and cotton deposited at the ware
houses or elevators as hereinafter
provided. Such classification shall
be made uniform throughout the
United States. He shall appoint
State Inspectors, one from each
State; shall approve their bonds;
shall sue upon said bonds for failure
to comply with the conditions there
of ; shall keep them furnished with
the rules and classifications made by
him, and shall see to it that they are
observed. He shall give bond, to be
approved by the Secretary of Agri
culture, in the sum of one hundred
thousand dollars, conditioned for the
faithful performance of his duties.
He shall exercise a general super
vision over the State Inspectors and
their assistants, and shall require
from them monthly statements in
writing of the business' being done
through this department. He shall
furnish monthly, if so required by
the Postmaster-General, a statement
of the reports made to him by the
State Inspectors.
Seo. 3. That the State Inspector
so appointed in each State shall be a
resident of the State for which ap
pointed, shall be at least twenty-five
years old, and shall not be a broker,
banker, or dealer in options or
futures. He shall give bond in the
sum of fifty thousand dollars for the
faithful performance of his duties.
He shall establish and keep an office
in the capital of the State, shall re
ceive a salary of five thousand dol
lars, out of which he shall ’ pay his
clerical expenses. He shall appoint
deputies in each county or parish or
district of the State as hereinafter
directed. He shall take from such
deputy a bond in the sum of twenty
five thousand dollars, conditioned
upon the faithful performance of
duty ; shall see to it that such deputy
has provided a suitable, safe, and
convenient warehouse or elevator
for the storage of cotton or grain, as
the case may be. Any owner of a
warehouse or elevator may apply to
be appointed such deputy, and upon
giving bond as aforesaid he shall be
appointed, there being no limit fixed
to the number of such deputies. He
shall make a quarterly inspection of
such warehouse or elevator and see
that the commodities therein stored
for the purposes of this act are kept
properly insured and cared for. It
shall be his duty to countersign such
certificates as may be given by said
deputy when such certificate is ac
companied by the affidavit of the
ordinary, clerk of court of record,
sheriff, mayor, county judge, or of
three disinterested legal voters of
said county, that such produce as
stated in the said certificate is in
storage in said warehouse or eleva
tor. Said affidavits shall be retained
by him as vouchers. He shall re
quire of his said deputies a monthly
statement in writing of the amount
of produce stored, the names of de
positors, the certificates issued and
of those redeemed, and so forth, and
shall thereupon make like report
himself to the National Inspector.
He shall keep all his deputies sup
plied with the rules and regulations
and classifications of the said Na
tional Inspector.
Sec. 4. That said deputies shall
each provide a convenient, suitable
and safe warehouse or elevator at
the most eligible point in said county
for which he is appointed, subject
to the approval of the State Inspec
tor for the State, and shall receive
on deposit for storage such cotton
and wheat as may be offered in lots
of not less than one bale of cotton
nor less than fifty bushels of wheat.
Deposits of such produce shall be
made by individuals separately, or
by separate firms, corporations and
associations. He shall safely store
and insure such produce. He shall
inspect said produce, weigh or meas
ure, and classify same in accordance
with the rules laid down by the
National inspector. He shall assess
the value of said produce, being
governed by the cash market value
PEOPLE’S PARTY PAPER. ATLANTA. GEORGIA. FRIDAY, MAY 12, 1893.
at the nearest market and at that
time. He shall then, if demanded
in writing by the depositor of such
produce, give to such depositor a cer
tificate setting forth the number of
bales of cotton or bushels of wheat
so deposited, the grade or class of the
same, the condition of same, and the
value as above stated. This certi
ficate he shall sign officially and
deliver to the depositor. And he
shall keep said produce where,
during business hours, it is acces
sible to depositor for purpose of ex
amination. For failing to certify
when so requested, or for wdllfully
certifying falsely, he shall be liable
upon his bond at the suit of the per
son aggrieved or of the State In
spector for the use of such person.
He shall open an account on his
books with such depositor, charging
such storage (and also such commis
sions on sale of product) as may be
agreed upon by the parties, but in no
case charging a greater rate, either
directly or indirectly, than is usual
with factors and persons selling said
commodities on commission. He
shall be ready at any time after the
date of the deposit to accept full
settlement from depositor and to re
lease such deposit on payment of
not less than one month’s storage
and insurance. He shall hold such
produce twelve months, unless set
tlement be sooner made by volun
tary sale or otherwise. In default of
settlement at expiration of said term,
then he shall advertise said produce
and sell same in same manner as
sheriff’s sales are made, the costs of
sale to be charged up to said deposit.
Upon such sale having been made
he shall, first, pay over to the post
master, as hereinafter provided, the
sum due on such certificate by the
depositor; second, reimburse him
self the expenses of sale and of
storage, of insurance, and so forth;
third, pay over the surplus to the
depositor or to whoever may be
legally entitled thereto. In case of
voluntary payment by the depositor
to the postmaster, such depositor
shall produce to the said deputy the
certificate, or in case of loss, a sworn
copy (sworn to by the postmaster
and himself and the deputy) thereof.
Thereupon such assistant deputy
shall release such produce upon pay
ment of the agreed charges, or oth
erwise dispose of it as depositor
may order. Should depositor desire
said produce to be sold at any time
after issuance of such certificate, it
shall be the duty of the deputy to
sell same as directed, reserving the
proceeds, however, till said certifi
cate be surrendered and storage and
insurance for one month, together
with commission, be paid. It shall
be the duty of such deputy to make
payment to the postmaster and take
up said certificate with the proceeds
of such voluntary sale, if so re
quested by the depositor.
Sec. 5. Tfi&t it shall be the duty
of the postmaster of the nearest
money-order office to receive said
certificate when countersigned of
ficially by the inspector for the State
and it otherwise appearing to be
genuine, and to enter a minute of
same in book to be kept for that
purpose. It shall be the duty of
such postmaster to issue to the
holder of said certificate, who shall
be the original holder, a post office
money-order or orders for two-thirds
of the certified value of said pro
duce mentioned in the certificate.
He shall thereupon safely keep said
certificate until it may be redeemed
in the manner hereinafter specified.
He shall keep the usual record of
such order or orders, but shall keep
it separately from his other accounts,
and shall make the Postmaster-Gen
eral a special and immediate report
of each order or orders so issued, the
date, the amount, and the name of
the payee. He shall issue one order
for the whole amount or divide said
amount into several orders, as the
holder of the certificate may desire.
Sec. 6. That such post office or
ders shall be due and payable at any
post office belonging to the money
order grades having sufficient funds
on hand when such order is pre
sented, excepting always the office
issuing the same ; and should any
postmaster willfully refuse to pay
such order when duly presented and
when he has sufficient funds to pay
the same, then he shall be guilty of
a misdemeanor, and ttpon conviction
shall be punished by imprisonment
for a term of not less than three nor
more than twelve months and a fine
of not less than one hundred dollars
and not more than one thousand dol
lars. Said orders shall be receivable
as cash, when properly receipted, in
ail settlements between postmasters
and the Department. They shall
also be receivable at their full face
value in payment for stamps, postal
notes, newspaper postage and postal
supplies of all kinds. The post
master issuing such orders shall re
ceive one-third of one per centum
commission for issuing same, and
one-half of one per centum upon
sums collected on same, to be al
lowed him in his regular sttlements
with the Department, and this com
mission shall be entered as one of
the expenses of this Department.
Such postmasters (of money-order
offices) shall ‘immediately after the
passage of this act proceed to double
their bonds ; and for neglect, dere
liction of duty, fraud, or embezzle
ment in connection with said certi
ficate or money-orders said bond
shall be liable either at the instance
of the Government or of the deposi
tor thereof in double the amount of
the damages indicted.
Sec. 7. That said postmaster shall
surrender such certificate to the de
positor or bis legal representative, at
any time, upon the payment of the
amount of such money-orders and
four per centum interest thereon
from the time issued, taking from
such person a receipt for same which
he shall preserve as a voucher. At
the' expiration of twelve months
from the date of said certificate the
said postmaster shall, in writing,
notify the said deputy, who issued
the same, of that fact ami of the
failure to redeem said certificate.
Whereupon sale of the produce
shall be made as hereinbefore pre
scribed. The said postmaster shall
deliver to said deputy said certificate
upon payment of principal and in
terest due upon such money-order.
Such certificate shall then be re
tained by the said deputy as his
voucher. Should the proceeds of
sale of such produce be insufficient
for that purpose, then said post
master shall give to said deputy a
statement in writing of the sum due
on such money-order and a receipt
for the sum actually paid. In such
case said receipt is his voucher. Such
payment shall then be entered by the
postmaster as a credit upon such cer
tificate, and he shall at once enter
suit against the payee of such money
order to recover the balance due.
Should collection be had then, the
additional sum shall be credited to
the payee of the order by the post
master and the certificate surren
dered to such payee or his legal rep
resentative, in all cases taking a
receipt for said certificate; but in no
case shall such postmaster retain
said certificate after the amount due
on such money-order shall have
been paid. Said retention, is hereby
declared a violation of his bond, for
which he shall be liable at the suit of
the person aggrieved.
Sec. 8. That the Postmaster-Gen
eral shall make official statement to
the Secretary of the Treasury each
week of the sums required to meet
said money-orders. He shall base
his estimates upon the reports of the
postmasters as hereinbefore pro
vided for. He shall also cause sepa
rate record to be kept of money
orders of this class and of payments
thereon, and of the expenses con
nected therewith. He shall, in his
annual reports, make a full statement
of this branch of the service, show
ing the expenses of this department,
the amounts of such orders issued,
the amounts paid, the amount of
profits to the Government or other
wise. All the salaries herein pro
vided for, as well as the necessary
outlays for printing, stamping and
isssuing the Treasury notes shall be
considered a part of the expenses.
Sec. 9. That it shall be the duty
of the Secretary of the Treasury to
cause to be printed and issued Treas
ury notes of the United States in
denomination from one to twenty, in
the form and material of the national
currency commonly called green
backs, and in such sums as may be
required by the Postmaster-General
to meet, the money-orders as afore
said. These notes he shall cause to
be delivered to the Postmaster-Gen
eral as he may require. They shall
be a full legal tender for all debts,
public and private. As payments
are made by redemption of said cer
tificates the Postmaster-General shall,
after deducting all expenses on ac
count of the money-orders in his
Department, pay over the balance
monthly to the Secretary of the
Treasury.
Sec. 10. That the sum total of the
post office money-orders provided
for in this act shall at no time ex
ceed one hundred million dollars in
excess of the sums paid in on ac
count of same by persons redeeming
their certificates. When such limit
is reached the Postmaster-General
shall cause the issuance of such
money-orders suspended until pay
ments upon this account shall have
reduced the sum outstanding below
the said limit,, of which notice shall
be given by the Postmaster-General,
and the issuance of said orders re
sumed.
Sec. 11. That the Secretary of the
Treasury shall keep a separate ac
count of the notes issued by him for
the purposes herein specified and of
the repayments made to him by the
Postmaster-General on account there
of, and he shall be authorized to can
cel and retire of the said Treasury
notes from time to time an amount
equal to the repayments made to him
by said Postmaster-General.
Sec. 12. That the Secretary of the
Treasury shall cause to be kept an
account of the expenses incurred by
reason of the issuance and cancella
tion of said notes, and shall make
report of same in his annual report.
Sec. 13. That any postmaster who
shall knowingly and willfully make
false returns of the issuance of such
money-orders, or shall embezzle any
repayments of same, or shall issue
same in violation of this act, shall
be guilty of a felony, and on convic
tion shall be punished by confine
ment in the penitentiary for not less
than two nor longer than ten years,
besides being liable on his bond for
breach of same.
Sec. 14. That no person having
once availed himself of the benefit
and obtained a certificate, as herein
specified, and obtained a money
order upon same, shall, within twelve
months, enjoy the same privilege
again more than once. The deputy
shall, in each application for cer
tificate, require of the applicant an
affidavit that he has not within
twelve months received the benefit
of this act more than once.
Sec. 15. That no Deputy Inspec
tor, State Inspector, or National
Inspector, or postmaster or postal
clerk shall be a party to any deposit
of produce made to secure the bene
fit of this act, either directly or indi
[Continued on seventh page.]
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HEALTHY JLOTTOHST,
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READ THE FOLLOWING TESTIMONIALS.
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November 23, 1892. Thos. E. Watson.
MRS. S. A. WADE’S TESTIMONIAL.
Wrightsboro, Ga., April 10, 1893.
I have used Lingo’s Liver Medicine, and recommend it above any other,
Mrs. S. A. Wade.
PREPARED BY A CAREFUL AND COMPETENT PHYSICIAN.
I prepare the Lingo’s Liver Medicine, and knowing so well from years of
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tice with highly gratifying results.
G. W. Durham, M. D.
Thomson, Ga., April 12, 1893.
TESTIMONIAL OF MISS WOODIS, OF OCONEE COUNTY, GA.
to
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DR. CLIATT’S TESTIMONIAL.
It is unusual for a practicing physician to favor the introduction or sale
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—— ——— A
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