scribed by the Secretary; and they may also be employed as financial agents of the government; and they shall perform all such reasonable duties, as depositaries of public moneys and financial agents of the government, as may be required of them. And the Secretary of the Treasury shall require of the associations thus designated satisfactory security, by the deposit of United States bonds and otherwise, for the safe-keeping and prompt payment of the public money deposited with them, and for the faithful performance of their duties as financial agents of the government: Provided, That every association which shall be selected and designated as receiver or depositary of the public money shall take and receive at par all of the national currency bills, by whatever association issued, which have been paid in to the government for internal revenue, or for loans or stocks. SEC. 46. [If associations fail to redeem their circulation, the notes may be protested, &c.] [SECTIONS 47-51. Procedure in case of associations failing to redeem notes, &c.] SEC. 52. [Transfers, assignments, &c., in contemplation of insolvency, &c., to be void.] SEC. 53. [Penalty upon directors for violations of this act.] SEC. 54. [Comptroller may appoint person to examine the affairs of any association.] [SECTIONS 55-57. Penalty and procedure in case of embezzlement, &c.] [SECTIONS 58-60. Penalties for mutilating notes to make them unfit for reissue, for counterfeiting notes, for engraving plates, for forging notes, &c.] SEC. 61. [Comptroller to report annually to congress.] SEC. 63. And be it further enacted, That persons holding stock as executors, administrators, guardians, and trustees, shall not be personally subject to any liabilities as stockholders; but the estates and funds in their hands shall be liable in like manner and to the same extent as the testator, intestate, ward, or person interested in said trust-funds would be if they were respectively living and competent to act and hold the stock in their own names. SEC. 64. And be it further enacted, That congress may at any time amend, alter, or repeal this act. APPROVED, June 3, 1864. No. 38. Repeal of the Fugitive Slave Law June 28, 1864 THE agitation for a repeal of the fugitive slave law of 1850 may be said to have begun with the passage of the act. Bills and resolutions relating to the subject were frequently introduced in Congress, but for the most part failed of consideration. A repeal bill was considered by the Senate April 19, 1864, but not further acted upon. June 13, however, a bill in the terms of the act following, originally introduced by Spalding of Ohio, passed the House by a vote of 86 to 60. A proposal in the Senate to repeal only the act of 1850 was rejected, the vote being 17 to 22, and June 22 the House bill passed by a vote of 27 to 12. REFERENCES. - Text in U.S. Statutes at Large, XIII, 200. For the proceedings see the House and Senate Journals, 38th Cong., Ist Sess., and the Cong. Globe. The principal propositions for repeal are collected in McPherson, Rebellion, 234–237. For the report of the Senate committee, February 29, see Senate Report 24, 38th Cong., 1st Sess. On the general subject of fugitive slave laws see McDougall, Fugitive Slaves. An Act to repeal the Fugitive Slave Act of eighteen hundred and fifty, and all Acts and Parts of Acts for the Rendition of Fugitive Slaves. Be it enacted . . That sections three and four of an act entitled "An act respecting fugitives from justice and persons escaping from the service of their masters," approved February twelve, seventeen hundred and ninety-three, and an act entitled "An act to amend, and supplementary to, the act entitled 'An act respecting fugitives from justice and persons escaping from the service of their masters,' passed February twelve, seventeen hundred and ninety-three," passed September [eighteen], eighteen hundred and fifty, be, and the same are hereby, repealed. APPROVED, June 28, 1864. I No. 39. Intercourse with Insurrectionary States July 2, 1864 A BILL further to regulate commercial intercourse with the insurrectionary States was introduced in the Senate, April 14, 1864, by Zachariah Chandler of Michigan, by unanimous consent, and referred to the Committee on Commerce. The bill was reported with amendments May 28, and passed the Senate, June 28, by a vote of 27 to 13. The House passed the bill with further amendments July 2, the concurrence of the Senate being given the same day. REFERENCES. Text in U.S. Statutes at Large, XIII, 375–378. For the proceedings see the House and Senate Journals, 38th Cong., 1st Sess., and the Cong. Globe. The text of the bill as passed by the Senate is in the Globe for June 28. An Act in addition to the several Acts concerning Commercial Intercourse between loyal and insurrectionary States, and to provide for the Collection of captured and abandoned Property, and the Prevention of Frauds in States declared in Insurrection. Be it enacted That sales of captured and abandoned property under the act approved March twelve, eighteen hundred and sixty-three, may be made at such places, in states declared in insurrection, as may be designated by the Secretary of the Treasury, as well as at other places now authorized by said act. SEC. 2. And be it further enacted, That, in addition to the captured and abandoned property to be received, collected, and disposed of, as provided in said act, the said agents shall take charge of and lease, for periods not exceeding twelve months, the abandoned lands, houses, and tenements within the districts therein named, and shall also provide, in such leases or otherwise, for the employment and general welfare of all persons within the lines of national military occupation within said insurrectionary states formerly held as slaves, who are or shall become free. Property, real or personal, shall be regarded as abandoned when the lawful owner thereof shall be voluntarily absent therefrom, and engaged, either in arms or otherwise, in aiding or encouraging the rebellion. SEC. 3. [Moneys from leases and sales to be paid into the treasury. Act of March 12, 1863, section 1, extended to include property mentioned in acts of July 13, 1861, and July 17, 1862.] SEC. 4. And be it further enacted, That the prohibitions and provisions of the act approved July thirteen, eighteen hundred and sixty-one, and of the acts amendatory or supplementary thereto, shall apply to all commercial intercourse by and between persons residing or being within districts within the present or future lines of national military occupation in the states or parts of states declared in insurrection, whether with each other or with persons residing or being within districts declared in insurrection and not within those lines; and that all persons within the United States, not native or naturalized citizens thereof, shall be subject to the same prohibitions, in all commercial intercourse with inhabitants of states or parts of states declared in insurrection, as citizens of loyal states are subject to under the said act or acts. SEC. 5. And be it further enacted, That whenever any part of a loyal state shall be under the control of insurgents, or shall be in dangerous proximity to places under their control, all commercial intercourse therein and therewith shall be subject to the same prohibitions and conditions as are created by the said acts, as to such intercourse between loyal and insurrectionary states, for such time and to such extent as shall from time to time become necessary to protect the public interests, and be directed by the Secretary of the Treasury, with the approval of the President. SEC. 6. [Mode of distribution of fines, forfeitures, &c. Repeal of parts of acts of May 20, 1862, section 5, and March 12, 1863, section 4.] SEC. 7. And be it further enacted, That no property seized or taken upon any of the inland waters of the United States by the naval forces thereof, shall be regarded as maritime prize; but all property so seized or taken shall be promptly delivered to 116 INTERCOURSE WITH INSURRECTIONARY STATES [July 2 the proper officers of the courts, or as provided in this act and in the said act approved March twelve, eighteen hundred and sixty-three. SEC. 8. And be it further enacted, That it shall be lawful for the Secretary of the Treasury, with the approval of the President, to authorize agents to purchase for the United States any products of states declared in insurrection, at such places therein as shall be designated by him, at such prices as shall be agreed on with the seller, not exceeding the market value thereof at the place of delivery, nor exceeding three fourths of the marketvalue thereof in the city of New York at the latest quotations known to the agent purchasing: Provided, That no part of the purchase-money for any products so purchased shall be paid, or agreed to be paid, out of any other fund than that arising from property sold as captured or abandoned, or purchased and sold under the provisions of this act. All property so purchased shall be forwarded for sale at such place or places as shall be designated by the Secretary of the Treasury, and the moneys arising therefrom, after payment of the purchase-money and the other expenses connected therewith, shall be paid into the treasury of the United States. SEC. 9. And be it further enacted, That so much of section five of the act of thirteenth of July, eighteen hundred and sixty-one, aforesaid, as authorizes the President, in his discretion, to license or permit commercial relations in any state or section the inhabitants of which are declared in a state of insurrection, is hereby repealed, except so far as may be necessary to authorize supplying the necessities of loyal persons residing in insurrectionary states, within the lines of actual occupation by the military forces of the United States, as indicated by published order of the commanding general of the department or district so occupied; and, also, except so far as may be necessary to authorize persons residing within such lines to bring or send to market in the loyal states any products which they shall have produced with their |