Post by Bruce on Jun 25, 2014 2:18:39 GMT -5
In the House of Representatives of the United States of America, Mr. Terrus, for himself, offers: A Bill To establish the Department of the Treasury, and a system of tax to fund the federal government; BE IT ENACTED by the House of Representatives and Senate of the United States of America in Congress assembled, that;
Section 1. There is hereby created a Title V of the United States Code, to be entitled "Budget."
Section 2. There is hereby created in Title V of the United States Code a new Chapter, Chapter 1, to be entitled "Department of the Treasury," which shall read as follows:
Section 3. There is hereby created in Title V of the United States Code a new Chapter, Chapter 3, to be entitled "Coins," which shall read as follows:
Section 4. The Clerk of the House shall see that the table of contents of the United States Code is appropriately amended to reflect these additions.
Section 1. There is hereby created a Title V of the United States Code, to be entitled "Budget."
Section 2. There is hereby created in Title V of the United States Code a new Chapter, Chapter 1, to be entitled "Department of the Treasury," which shall read as follows:
Chapter 1. Department of the Treasury.
Section 1. Treasurer of the United States.
(a) The President shall appoint, with the advice and consent of the Senate, a Treasurer of the United States, hereinafter the Treasurer, who shall superintend the operations of the Department of the Treasury, and who shall serve at the pleasure of the President.
(b) It shall be the duty of the Treasurer;
1. to digest and prepare plans for the improvement and management of the revenue, and for the support of public credit;
2. to prepare and report estimates of the public revenue and the public expenditures;
3. to receive and hold monies collected by the federal government, unless otherwise directed by law;
4. to decide on the forms of keeping and stating accounts and making returns, and to grant under the limitations herein established, or to be hereafter provided, all warrants for monies to be issued from the Treasury, in pursuance of appropriations by law;
5. to superintend the collection of all forms of revenue for the federal government, except for postage;
6. to take receipts for all monies paid by him, and all receipts for monies received by him shall be endorsed upon warrants signed by him and countersigned by the Comptroller, and recorded by the Auditor, and without which warrant, so signed, no acknowledgement for money received into the public treasury shall be valid;
7. to render his accounts to the Comptroller quarterly (or oftener if required,) and to transmit a copy thereof, when settled, to the Auditor;
8. to, on the third day of every session of Congress, lay before the Senate and the House of Representatives, fair and accurate copies of all accounts by him from time to time rendered to, and settled with the Comptroller as aforesaid, as also, a true and perfect account of the state of the Treasury; and
9. to submit a bond to the United States, in the sum of $150,000, payable to the United States, with the condition for the faithful performance of the duties of his office, and for the fidelity of the persons to be by him employed, but this bond shall be submitted only by the Treasurer himself and not by a designate.
© The Treasurer shall be authorized:
1. to establish an office or offices in the capital of the United States, and in any other locations that the he may deem prudent, and to staff that office or those offices with such assistants, clerks, and other employees as may deem necessary;
2. To issue bonds and establish credit as necessary to meet financial obligations and to service national debt in pursuance of appropriations by law;
3. to receive and keep the monies of the United States, and to disburse the same upon drawing warrants for such, countersigned by the Comptroller, and recorded by the Auditor, and not otherwise;
4. to decide on the forms of keeping and stating accounts and making returns, and to grant under the limitations herein established, or to be hereafter provided, all warrants for monies to be issued from the Treasury, in pursuance of appropriations by law;
5. to search any vessel approaching the United States, so as to determine the tax due upon its master, and to request the sales records of any business or individual in the United States, so as to determine the tax due upon him;
6. to prescribe such regulations as may he find necessary to provide for the efficient proper operation of the department;
7. to superintend the business of the department, in all the duties that are, or may be assigned to it;
8. to generally to perform all such services relative to the finances, as he shall be directed to perform; and
9. to make report, and give information to either brach of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office.
(d) The President may appoint, with the advice and consent of the Senate, a Deputy Treasurer of the United States to assist the Treasurer with his duties, and to act as Treasurer whenever there is not an Treasurer, or whenever the Treasurer is unable to perform his duties.
Section 2. Comptroller.
(a) The President shall appoint, with the advice and consent of the Senate, a Comptroller of the United States, hereinafter the Comptroller, who shall serve at the pleasure of the President.
(b) It shall be the duty of the Comptroller:
1. to superintend the adjustment and preservation of the public accounts;
2. to examine all accounts settled by the Auditor, and certify the balances arising thereon to the Register;
3. to countersign all warrants drawn by the Treasurer, which shall be warranted by law;
4. to report to the Treasurer the official forms of all papers to be issued in the different offices for collecting the public revenue, and the manner and form of keeping and stating the accounts of the several persons employed therein;
5. to provide for the regular and punctual payment of all monies which may be collected;
6. to superintend the operations of his office, proscribing such regulations to his employees as he may deem necessary;
7. to perform such duties as may be enjoined upon him by the Treasurer, agreeable to the constitution; and
8. to make report, and give information to either branch of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office.
Section 3. Auditor.
(a) The President shall appoint, with the advice and consent of the Senate, an Auditor of the United States, hereinafter the Comptroller, who shall assist the Treasurer, and who shall act as Treasurer if there is no Treasurer or if the Treasurer is unable to serve, and who shall serve at the pleasure of the President.
(b) It shall be the duty of the Auditor:
1. to keep all accounts of the receipts and expenditures of the public money, and of all debts due to or from the United States;
2. to receive from the Comptroller the accounts which shall have been finally adjusted, and to preserve such accounts with their vouchers and certificates;
3. to record all warrants for the receipt or payment of monies at the Treasury, certify the same thereon, and to transmit to the Treasurer, copies of the certificates of balances of accounts adjusted as is herein directed;
4. to receive all public accounts, and after examination to certify the balance, and transmit the accounts with the vouchers and certificate to the Comptroller for his decision thereon: Provided, That if any person whose account shall be so audited, be dissatisfied therewith, he may within six months appeal to the Comptroller against such settlement;
5. to superintend the operations his office, and to proscribe such regulations to his employees as he may find necessary;
6. to perform such duties as may be enjoined upon him by the Treasurer, agreeable to the constitution; and
7. to make report, and give information to either brach of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office.
Section 4. Collector.
(a) The President shall appoint, with the advice and consent of the Senate, a Collector of the United States, who shall oversee the Bureau of Revenue, and it shall be the duty of the Collector:
1. to provide advice the Treasurer with regards to the collection of revenue;
2. to superintendent, and perform, the collection of revenue;
3. to coordinate with the Marshals and Attorneys to ensure the arrest, and prosecution, of any person that fails to pay taxes;
4. to provide for the regular patrol of the borders of the United States, so as to provide for the proper enforcement of tax laws;
5. to superintend the operations of the Bureau of Revenue, and to employ individuals to this end;
6. to perform such duties as may be enjoined upon him by the Treasurer, agreeable to the constitution; and
7. to make report, and give information to either branch of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office.
(b) The Collector shall be authorized to purchase, arm, and commission United States Revenue Ships, and to instruct those ships to patrol the coastal borders of the United States in order to enforce tax laws, provided that the captains and crews of those vessels shall be assigned ranks in accordance with the ranking system established for the United States Navy, and wear the similar uniforms and insignia, and that during time of war the Collector shall task those United States Revenue Ships that the Bureau of Revenue can spare to assist the Navy in defense of the nation.
(c) The President may appoint, with the advice and consent of the Senate, Deputy United States Collectors and Assistant United States Collectors, as he deems prudent, to assist the Collector.
Section 5. Restrictions on Service.
(a) No person appointed to any office instituted by this Chapter, shall directly or indirectly be concerned or interested in carrying on the business of trade or commerce, or be owner in whole or in part of any sea-vessel, or purchase by himself, or another in trust for him, any public lands or other public property, or be concerned in the purchase or disposal of any public securities of any State, or of the United States, or take or apply to his own use, any emolument or gain for negotiating or transacting any business in the said department, other than what shall be allowed by law; and if any person shall offend against any of the prohibitions of this Act, he shall be deemed guilty of a high misdemeanor, and forfeit to the United States the penalty of three thousand dollars, and shall upon conviction be removed from office, and forever therafter incapable of holding any office under the United States: Provided, That if any other person that a public prosecutor shall give information of any such offense, upon which a prosecution and conviction shall be had, one half the aforesaid penalty of three thousand dollars, when recovered, shall be for the use of the person giving such information.
(b) Subsection (a) of this section shall also apply to non-officer employees of the Department of the Treasury.
Section 1. Treasurer of the United States.
(a) The President shall appoint, with the advice and consent of the Senate, a Treasurer of the United States, hereinafter the Treasurer, who shall superintend the operations of the Department of the Treasury, and who shall serve at the pleasure of the President.
(b) It shall be the duty of the Treasurer;
1. to digest and prepare plans for the improvement and management of the revenue, and for the support of public credit;
2. to prepare and report estimates of the public revenue and the public expenditures;
3. to receive and hold monies collected by the federal government, unless otherwise directed by law;
4. to decide on the forms of keeping and stating accounts and making returns, and to grant under the limitations herein established, or to be hereafter provided, all warrants for monies to be issued from the Treasury, in pursuance of appropriations by law;
5. to superintend the collection of all forms of revenue for the federal government, except for postage;
6. to take receipts for all monies paid by him, and all receipts for monies received by him shall be endorsed upon warrants signed by him and countersigned by the Comptroller, and recorded by the Auditor, and without which warrant, so signed, no acknowledgement for money received into the public treasury shall be valid;
7. to render his accounts to the Comptroller quarterly (or oftener if required,) and to transmit a copy thereof, when settled, to the Auditor;
8. to, on the third day of every session of Congress, lay before the Senate and the House of Representatives, fair and accurate copies of all accounts by him from time to time rendered to, and settled with the Comptroller as aforesaid, as also, a true and perfect account of the state of the Treasury; and
9. to submit a bond to the United States, in the sum of $150,000, payable to the United States, with the condition for the faithful performance of the duties of his office, and for the fidelity of the persons to be by him employed, but this bond shall be submitted only by the Treasurer himself and not by a designate.
© The Treasurer shall be authorized:
1. to establish an office or offices in the capital of the United States, and in any other locations that the he may deem prudent, and to staff that office or those offices with such assistants, clerks, and other employees as may deem necessary;
2. To issue bonds and establish credit as necessary to meet financial obligations and to service national debt in pursuance of appropriations by law;
3. to receive and keep the monies of the United States, and to disburse the same upon drawing warrants for such, countersigned by the Comptroller, and recorded by the Auditor, and not otherwise;
4. to decide on the forms of keeping and stating accounts and making returns, and to grant under the limitations herein established, or to be hereafter provided, all warrants for monies to be issued from the Treasury, in pursuance of appropriations by law;
5. to search any vessel approaching the United States, so as to determine the tax due upon its master, and to request the sales records of any business or individual in the United States, so as to determine the tax due upon him;
6. to prescribe such regulations as may he find necessary to provide for the efficient proper operation of the department;
7. to superintend the business of the department, in all the duties that are, or may be assigned to it;
8. to generally to perform all such services relative to the finances, as he shall be directed to perform; and
9. to make report, and give information to either brach of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office.
(d) The President may appoint, with the advice and consent of the Senate, a Deputy Treasurer of the United States to assist the Treasurer with his duties, and to act as Treasurer whenever there is not an Treasurer, or whenever the Treasurer is unable to perform his duties.
Section 2. Comptroller.
(a) The President shall appoint, with the advice and consent of the Senate, a Comptroller of the United States, hereinafter the Comptroller, who shall serve at the pleasure of the President.
(b) It shall be the duty of the Comptroller:
1. to superintend the adjustment and preservation of the public accounts;
2. to examine all accounts settled by the Auditor, and certify the balances arising thereon to the Register;
3. to countersign all warrants drawn by the Treasurer, which shall be warranted by law;
4. to report to the Treasurer the official forms of all papers to be issued in the different offices for collecting the public revenue, and the manner and form of keeping and stating the accounts of the several persons employed therein;
5. to provide for the regular and punctual payment of all monies which may be collected;
6. to superintend the operations of his office, proscribing such regulations to his employees as he may deem necessary;
7. to perform such duties as may be enjoined upon him by the Treasurer, agreeable to the constitution; and
8. to make report, and give information to either branch of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office.
Section 3. Auditor.
(a) The President shall appoint, with the advice and consent of the Senate, an Auditor of the United States, hereinafter the Comptroller, who shall assist the Treasurer, and who shall act as Treasurer if there is no Treasurer or if the Treasurer is unable to serve, and who shall serve at the pleasure of the President.
(b) It shall be the duty of the Auditor:
1. to keep all accounts of the receipts and expenditures of the public money, and of all debts due to or from the United States;
2. to receive from the Comptroller the accounts which shall have been finally adjusted, and to preserve such accounts with their vouchers and certificates;
3. to record all warrants for the receipt or payment of monies at the Treasury, certify the same thereon, and to transmit to the Treasurer, copies of the certificates of balances of accounts adjusted as is herein directed;
4. to receive all public accounts, and after examination to certify the balance, and transmit the accounts with the vouchers and certificate to the Comptroller for his decision thereon: Provided, That if any person whose account shall be so audited, be dissatisfied therewith, he may within six months appeal to the Comptroller against such settlement;
5. to superintend the operations his office, and to proscribe such regulations to his employees as he may find necessary;
6. to perform such duties as may be enjoined upon him by the Treasurer, agreeable to the constitution; and
7. to make report, and give information to either brach of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office.
Section 4. Collector.
(a) The President shall appoint, with the advice and consent of the Senate, a Collector of the United States, who shall oversee the Bureau of Revenue, and it shall be the duty of the Collector:
1. to provide advice the Treasurer with regards to the collection of revenue;
2. to superintendent, and perform, the collection of revenue;
3. to coordinate with the Marshals and Attorneys to ensure the arrest, and prosecution, of any person that fails to pay taxes;
4. to provide for the regular patrol of the borders of the United States, so as to provide for the proper enforcement of tax laws;
5. to superintend the operations of the Bureau of Revenue, and to employ individuals to this end;
6. to perform such duties as may be enjoined upon him by the Treasurer, agreeable to the constitution; and
7. to make report, and give information to either branch of the legislature, in person or in writing (as he may be required), respecting all matters referred to him by the Senate or House of Representatives, or which shall appertain to his office.
(b) The Collector shall be authorized to purchase, arm, and commission United States Revenue Ships, and to instruct those ships to patrol the coastal borders of the United States in order to enforce tax laws, provided that the captains and crews of those vessels shall be assigned ranks in accordance with the ranking system established for the United States Navy, and wear the similar uniforms and insignia, and that during time of war the Collector shall task those United States Revenue Ships that the Bureau of Revenue can spare to assist the Navy in defense of the nation.
(c) The President may appoint, with the advice and consent of the Senate, Deputy United States Collectors and Assistant United States Collectors, as he deems prudent, to assist the Collector.
Section 5. Restrictions on Service.
(a) No person appointed to any office instituted by this Chapter, shall directly or indirectly be concerned or interested in carrying on the business of trade or commerce, or be owner in whole or in part of any sea-vessel, or purchase by himself, or another in trust for him, any public lands or other public property, or be concerned in the purchase or disposal of any public securities of any State, or of the United States, or take or apply to his own use, any emolument or gain for negotiating or transacting any business in the said department, other than what shall be allowed by law; and if any person shall offend against any of the prohibitions of this Act, he shall be deemed guilty of a high misdemeanor, and forfeit to the United States the penalty of three thousand dollars, and shall upon conviction be removed from office, and forever therafter incapable of holding any office under the United States: Provided, That if any other person that a public prosecutor shall give information of any such offense, upon which a prosecution and conviction shall be had, one half the aforesaid penalty of three thousand dollars, when recovered, shall be for the use of the person giving such information.
(b) Subsection (a) of this section shall also apply to non-officer employees of the Department of the Treasury.
Chapter 3. Coins.
Section 10. United States Mint.
(a) The President shall appoint, with the advice and consent of the Senate, a Director of the United States Mint, hereinafter the Director, who shall superintend the operations of the United States Mint, and who shall serve at the pleasure of the President, but report to the Treasurer.
(b) It shall be the duty of the Director of the Mint:
1. to manage the operations and business of the mint;
2. to procure metal to be minted and weighted, and to provide for the delivery of such metal, and to prepare receipts for those functions;
3. to coin metals per regulations set by law;
4. to create and set the dies required for coining as per regulations set by law;
5. to distribute coinage to its rightful recipients and to hold money for the operations of the mint, distributing it upon his warrant, countersigned by the Comptroller; and
6. to submit a bond to the United States, in the sum of $10,000, payable to the United States, with the condition for the faithful performance of the duties of his office, and for the fidelity of the persons to be by him employed, but this bond shall be submitted only by the Director himself and not by a designate.
© The Director of the Mint shall be authorized:
1. to hire as many workmen and clerks as necessary for its operations, subject to the approbation of law; and
2. to establish a building suitable for the performance of the functions prescribed in this act, and such other offices as he may deem necessary.
Section 11. United States Currency.
(a) The Director shall provide for the creation of the United States currency but shall only provide for the creation of the following coins:
1. The Eagle, to be worth $10 and made of 247 4/8 grain of pure gold or 270 grain of Standard Gold;
2. The Half Eagle, to be worth $5 and contain 123 6/8 grain of pure gold or 135 grain Standard gold;
3. The Quarter Eagle, to be worth $2.50 and contain 61 7/8 grain pure gold or 67 4/8 grain standard gold;
4. The Dollar, to be worth the same as the Spanish Milled Dollar and contain 371 4/16 grain of pure silver or 416 grain standard silver;
5. The Half Dollar, to be worth $0.50 and contain 185 10/16 grain pure or 208 grain standard silver;
6. the Fifth Dollar, to be worth $0.20 and contain 74 4/16 grain pure or 83 4/16 standard silver;
7. the Dime, to be worth $0.10 and contain 37 2/16 grain pure or 41 3/5 grain standard silver;
8. the Half dime, to be worth $0.05 and contain 18 9/16 grain pure or 20 4/5 grain standard silver;
9. The penny, to be worth $0.01 and contain 11 pennyweights copper; and
10. The half-penny, to be worth $0.005 and contain 5 1/2 pennyweights copper.
(b) The Director shall provide for the design and size of each coin, subject to these weights.
c) The Treasurer, Comptroller, and Counsel shall inspect a sample of the production of the Mint on the first of each month, and should the coins not meet the standards specified by law, the officers inspecting shall report to congress and the Director of the Mint shall be disqualified from office.
d) The dollar shall be the unit of account for all business of the United States government.
Section 12. Distribution of Coins and Seignorage.
a) The Director of the Mint shall, at the end of each month, deliver any coins remaining valid coinage to the Treasurer for storage and distribution.
B) Any citizen of the United States may bring gold or silver bullion to the mint and have it converted immediately to coins, and the Director of the Mint may levy a fee to be deducted from the weight of the bullion.
Section 10. United States Mint.
(a) The President shall appoint, with the advice and consent of the Senate, a Director of the United States Mint, hereinafter the Director, who shall superintend the operations of the United States Mint, and who shall serve at the pleasure of the President, but report to the Treasurer.
(b) It shall be the duty of the Director of the Mint:
1. to manage the operations and business of the mint;
2. to procure metal to be minted and weighted, and to provide for the delivery of such metal, and to prepare receipts for those functions;
3. to coin metals per regulations set by law;
4. to create and set the dies required for coining as per regulations set by law;
5. to distribute coinage to its rightful recipients and to hold money for the operations of the mint, distributing it upon his warrant, countersigned by the Comptroller; and
6. to submit a bond to the United States, in the sum of $10,000, payable to the United States, with the condition for the faithful performance of the duties of his office, and for the fidelity of the persons to be by him employed, but this bond shall be submitted only by the Director himself and not by a designate.
© The Director of the Mint shall be authorized:
1. to hire as many workmen and clerks as necessary for its operations, subject to the approbation of law; and
2. to establish a building suitable for the performance of the functions prescribed in this act, and such other offices as he may deem necessary.
Section 11. United States Currency.
(a) The Director shall provide for the creation of the United States currency but shall only provide for the creation of the following coins:
1. The Eagle, to be worth $10 and made of 247 4/8 grain of pure gold or 270 grain of Standard Gold;
2. The Half Eagle, to be worth $5 and contain 123 6/8 grain of pure gold or 135 grain Standard gold;
3. The Quarter Eagle, to be worth $2.50 and contain 61 7/8 grain pure gold or 67 4/8 grain standard gold;
4. The Dollar, to be worth the same as the Spanish Milled Dollar and contain 371 4/16 grain of pure silver or 416 grain standard silver;
5. The Half Dollar, to be worth $0.50 and contain 185 10/16 grain pure or 208 grain standard silver;
6. the Fifth Dollar, to be worth $0.20 and contain 74 4/16 grain pure or 83 4/16 standard silver;
7. the Dime, to be worth $0.10 and contain 37 2/16 grain pure or 41 3/5 grain standard silver;
8. the Half dime, to be worth $0.05 and contain 18 9/16 grain pure or 20 4/5 grain standard silver;
9. The penny, to be worth $0.01 and contain 11 pennyweights copper; and
10. The half-penny, to be worth $0.005 and contain 5 1/2 pennyweights copper.
(b) The Director shall provide for the design and size of each coin, subject to these weights.
c) The Treasurer, Comptroller, and Counsel shall inspect a sample of the production of the Mint on the first of each month, and should the coins not meet the standards specified by law, the officers inspecting shall report to congress and the Director of the Mint shall be disqualified from office.
d) The dollar shall be the unit of account for all business of the United States government.
Section 12. Distribution of Coins and Seignorage.
a) The Director of the Mint shall, at the end of each month, deliver any coins remaining valid coinage to the Treasurer for storage and distribution.
B) Any citizen of the United States may bring gold or silver bullion to the mint and have it converted immediately to coins, and the Director of the Mint may levy a fee to be deducted from the weight of the bullion.
