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Contract Between The Girard Bank & The United States
[September 28, 1833]

 

Ist. The said bank agrees to receive, and enter to the credit of the Treasurer of the United States, all sums of money offered to be deposited on account of the United States, whether offered in gold or silver coin, in notes of the Bank of the United States or branches, in notes of any bank which are convertible into coin in its immediate vicinity, or in notes of any bank which it is, for the time being, in the habit of receiving.

2. If the deposite in said bank shall exceed one-half of its capital stock actually paid in, it is agreed that collateral security, satisfactory to the Secretary of the Treasury, shall be given for its safe keeping and faithful disbursement: Provided, that, if the said Secretary shall at any time deem it necessary, the bank agrees to give collateral security when the deposite shall not equal one-half the capital.

3. The said bank agrees to make weekly returns of its entire condition to the Secretary of the Treasury, and to the Treasurer of the United States of the state of his account, and to submit its books and transactions to a critical examination by the Secretary, or any agent duly authorized by him, whenever he shall require it. This examination may extend to all the books and accounts, to the cash on hand, and to all the acts and concerns of the bank, except the current accounts of individuals; or as far as is admiissible without a violation of the bank charter.

4. The said bank agrees to pay, out of the deposite on hand, all warrants or drafts which may be drawn upon it by the Treasurer of the United States, and to transfer any portion of that deposite to any other bank or banks employed by the Government within the United States, whenever the Secretary of the Treasury may require it, without charge to the Government for transportation or difference of exchange, commission, or any thing else whatever; but the Secretary of the Treasury shall give a reasonable notice of the time when such transfer will be required.

5. The said bank agrees to render to the Government, when ever required by the proper authority; all or any portion of the services now performed by the Bank of the United States, or which might be lawfully required of it in the vicinity of said contracting bank.

6. If the Secretary of the Treasury shall think proper to employ an agent or agents to examine and report upon the accounts and condition of the banks in the service of the Government, or any of them, the said bank agrees to pay an equitable proportion of his or their expenses and compensation, according to such apportionment as may be made by the said Secretary.

7. Whenever required by the Secretary of the Treasury, the said bank agrees to furnish, with all convenient despatch, bills of exchange on London, payable at such sight as may be required, at the usual market price for the time being, without commission or advance for the profit of said bank, or any charge whatsoever beyond the actual cost; the payment of said bills to be guaranteed by said bank.

8. It is agreed that the Secretary of the Treasury may discharge the said bank from the service of the Government whenever, in his opinion, the public interest may require it. In witness whereof, the said The Girard Bank in the city of Philadelphia, has caused to be affixed its corporate seal, attested by the signatures of its president and cashier, on the day and year first above written.

JAS. SCHOTT, President.
WM. D. LEWIS, Cashier.