TWENTY-SEVENTH CONGRESS. Sess. I. On. 13. 1841.

451

are hereby expressly prohibited from issuing or paying out or offeringin payment any bank note or other paper in discharge of their debts orliabilities of any kind on any pretence whatever, which the particular bankmaking the payment or tender is not, at the time of such payment, inthe habit of receiving at par, in payments of all notes or other debtsdue and payable at said bank, under pain of forfeiting for every suchoffence double the sum so paid out or offered in payment of its owndebt or debts; one half to the informer, and one half to the use of thetown or city in which the offending bank may be situated, to be re-covered by action of debt in any court of competent jurisdiction in theDistrict of Columbia .

Sec. 5. And be it further enacted, That each and every of said banksbe, and they are hereby, expressly prohibited from issuing or paying out,under any pretence whatever, any bill, note, cr other paper, designed orintended to be used and circulated as money, of a less denominationthan five dollars; and for any violation of the provisions of this section,the offending bank shall incur all the penalties and forfeitures to be pro-vided and directed by the first section of this act for the case of suspen-sion or refusal to pay in specie; to be enforced in like manner, as isdirected by that section.

Sec. 6. And be it further enacted, That each and every of the banksaforesaid shall, within forty days after the passage of this act, hold anelection in the form and manner prescribed by their respective originalcharters for nine directors, which shall in future be the number of di-rectors for each of said banks; and the persons elected at said elec-tion, shall severally remain in office until the recurrence of the timeprescribed by the original charter of each of said banks respectively,for an annual election of directors, at which last mentioned time, andat the same time in every year thereafter, each of said banks shall makeits election of directors and other officers agreeably to the provisionsof its original charter, except as to the number of directors, which shallin every case hereafter be nine. And there shall be chosen for each ofsaid banks at the special election hereby provided for, or as soon there-after as may be in conformity to the provisions of their respective ori-ginal charters, a president and such other officers as may, by the par-ticular charter, be required to be elected, who shall hold their officesfor the same time and in the same manner as if said charters had notexpired and said officers had been chosen at the last annual election.

Sec. 7. And. be it further enacted, That this act shall continue inforce until the fourth day of July which shall be in the year eighteenhundred and forty-four.

Sec. 8. And be it further enacted, That the act entitled “ An act toextend the charter of the Union Bank of Georgetown in the District ofColumbia, ” approved the twenty-fifth day of May in the year eighteenhundred and thirty-eight, be and the same is hereby extended to the firstday of July in the year eighteen hundred and forty-seven, until whichtime the said act shall be in full force for the sole purpose of enablingthe president and directors of the said bank for the time being to closeits affairs.

Approved, August 25, 1841.

Chap. XIII .—Jin Act making an appropriation for the funeral expenses of Wil-liam Henry Harrison, deceased, late President of the United States .

Be it enacted by the Senate and House of Representatives of theUnited States of America in Congress assembled, That the accountspresented by the Marshal of the District of Columbia for expenses in-curred by the funeral of the President of the United States , be referredto the proper accounting officer of the Treasury, who is hereby directed

Issuing, &c.any bank-note,not at the timereceivable atpar, prohibited.

Forfeiture.bowto be disposedof, and how re-coverable.

Issuing notes,& lc . of less de-nomination than$5, prohibited.

Penalties andforfeitures.

Election to beheld in 40 daysfor nine direct-ors, &c.

Election of apresident, &c,;term of office,

This act conti-nued to 4th July1844.

Act of May 25,1838. ch. 88, toextend the char-ter of the UnionBank, extendedto 1st July 1847.

Statute I.Sept. 1, 1841.

Accounts to boaudited, &c.