Gold coinage discontinued and existing gold coins withdrawn from circulation, see section 315b of this title. Provisions for payment of obligations in gold declared against public policy, see section 463 of this title. § 463. Provision for payment of obligations in gold prohibited; uniformity in value of coins and currencies. (a) Every provision contained in or made with respect to any obligation which purports to give the obligee a right to require payment in gold or a particular kind of coin or currency, or in an amount in money of the United States measured thereby, is declared to be against public policy; and no such provision shall be contained in or made with respect to any obligation hereafter incurred. Every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at the time of payment is legal tender for public and private debts. Any such provision contained in any law authorizing obligations to be issued by or under authority of the United States is hereby repealed, but the repeal of any such provision shall not invalidate any other provision or authority contained in such law. (b) As used in this section, the term "obligation" means an obligation (including every obligation of and to the United States, excepting currency) payable in money of the United States; and the term "coin or currency" means coin or currency of the United States, including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations. (June 5, 1933, ch. 48, § 1, 48 Stat. 113.) 488a. 489. 489a. 490. 491. 492. 492a. Deposit of fees collected under regulations relating Payment of expenses of sales from proceeds. damage to military or naval material in transit. Penalty for withholding money. Fees, fines, etc., payable into Treasury to credit of Check cashing and exchange transactions authorized for official and accommodation purposes. 492b. Same; covering into Treasury of account gains; adjustment of losses; application of gains. 492c. Same; rules and regulations; delegation of authority. 492d. Payment to indorsees of Army officers' pay accounts. Chapter 10.-THE PUBLIC MONEYS Sec. Same; foreign countries, the Territories, and the insular possessions. officers, etc. 525. 526. Entry of each deposit, transfer, and payment. Public moneys in Treasury and depositaries subject to draft of Treasurer. § 471. Certain duties of Division of Public Moneys transferred to Bureau of Accounts of the Fiscal Service. The duties appertaining on June 10, 1921, to the Division of Public Moneys of the office of the Secretary of the Treasury, so far as they related to the covering of revenues and repayments into the Treasury, the issue of duplicate checks and warrants, and the certification of outstanding liabilities for payment, shall be performed by the Bureau of Accounts of the Fiscal Service of the Treasury Department. (June 10, 1921, ch. 18, title III, § 308, 42 Stat. 25; 1940 Reorg. Plan No. III, § 1 (a) (1), (3), eff. June 30, 1940, 5 F. R. 2107, 54 Stat. 1231.) TRANSFER OF FUNCTIONS All functions of all officers of the Department of the Treasury, and all functions of all agencies and employes of the Department, were transferred, with certain exceptions, to the Secretary of the Treasury, with powe vested in him to authorize their performance or the performance of any of his functions, by any of those officers agencies, and employees, by 1950 Reorg. Plan No. 26, 1 2, eff. July 31, 1950, 15 F. R. 4935, 64 Stat. 1280, set out i note under section 241 of Title 5, Executive Department and Government Officers and Employees. Division of Bookkeeping and Warrants was transferred to Bureau of Accounts of the Fiscal Service of the Treasury Department by 1940 Reorg. Plan No. III, set out as note following 133t of Title 5, Executive Departmenta and Government Officers and Employees. § 472. The Treasury of the United States. The rooms provided in the Treasury building at the seat of Government for the use of the Treasurer of the United States, his assistants, and clerks, and occupied by them, and the fireproof vaults and safes erected therein for the keeping of the public money in the possession and under the immediate control of the Treasurer, and such other apartments as are provided as places of deposit of the public money shall be the Treasury of the United States. (R. S § 3591.) DERIVATION Act Aug. 6, 1846, ch. 90, § 1, 9 Stat. 59. TRANSFER OF FUNCTIONS All functions of all officers of the Department of the Treasury, and all functions of all agencies and employees of the Department, were transferred, with certain eceptions, to the Secretary of the Treasury, with power vested in him to authorize their performance or the performance of any of his functions, by any of those offcers, agencies, and employees, by 1950 Reorg. Plan No. §§ 1, 2, eff. July 31, 1950, 15 F. R. 4935, 64 Stat. 1280, set out in note under section 241 of Title 5, Executive Departments and Government Officers and Employees. § 473. Same; foreign countries, the Territories, and the insular possessions. The Secretary of the Treasury may designate such depositaries of public moneys in foreign countries and in the Territories and insular possessions of the United States as may be necessary for the transaction of the Government's business, under such terms and conditions as to security and otherwise, as he may from time to time prescribe: Provided, That in designating such depositaries American financial institutions shall be given preference wherever, i the judgment of the Secretary of the Treasury, such institution is safe and able to render the service required. (June 19, 1922, ch. 228, 42 Stat. 662.) § 474. Public moneys subject to draft of Treasurer. All public moneys paid into any depository shall be subject to the draft of the Treasurer of the United States, drawn agreeably to appropriations made by law. (R. S. § 3593.) DERIVATION Act Aug. 6, 1846, ch. 90, § 1, 9 Stat. 59. TRANSFER OF FUNCTIONS All functions of all officers of the Department of the Treasury, and all functions of all agencies and employees of the Department, were transferred, with certain exceptions, to the Secretary of the Treasury, with power vested in him to authorize their performance or the perform ance of any of his functions, by any of those officers. agencies, and employees, by 1950 Reorg. Plan No. 26. §§1 2, eff. July 31, 1950, 15 F. R. 4935, 64 Stat. 1280, set out in note under section 241 of Title 5, Executive Departments and Government Officers and Employees. § 475. Same; bonds. All officers in any mint, or assay office, authorized by law to act as depositaries, shall, respectively, give bonds to the United States for the faithful discharge of the duties of their respective offices as depositaries according to law and for such amounts as shall be. directed by the Secretary of the Treasury with sureties to the satisfaction of the General Counsel for the Department of the Treasury; and shall, from time to time, renew, strengthen, and increase their official bonds as the Secretary of the Treasury may direct. (R. S. § 3600; May 29, 1920, ch. 214, § 1, 41 Stat. 654; May 10, 1934, ch. 277, § 512, 48 Stat. 759.) DERIVATION Acts Aug. 6, 1846, ch. 90, §§ 5, 7, 9 Stat. 60; Apr. 7, 1868, ch. 28, § 14, 14 Stat. 26; June 15, 1870, ch. 12, § 1, 16 Stat. 152; Feb. 12, 1873, ch. 131, § 65, 17 Stat. 435; Mar. 3, =1873, ch. 229, § 5, 17 Stat. 543. CODIFICATION Upon incorporation of this section into the Code, words "All assistant treasurers, and all officers in any mint or assay office, authorized by law to act as assistant treasurers" were changed to "all officers in any mint or assay office, authorized by law to act as depositaries" to conform to act May 29, 1920, section 476 of this title. TRANSFER OF FUNCTIONS All functions of all officers of the Department of the Treasury, and all functions of all agencies and employees of the Department, were transferred, with certain exceptions, to the Secretary of the Treasury, with power vested in him to authorize their performance or the performance of any of his functions, by any of those officers, agencies, and employees, by 1950 Reorg. Plan No. 26, §§ 1, 2, eff. July 31, 1950, 15 F. R. 4935, 64 Stat. 1280, set out in note under section 241 of Title 5, Executive Departments and Government Officers and Employees. The office of Solicitor of the Treasury was abolished and its powers and duties transferred to the General Counsel for the Department of the Treasury by act May 10, 1934. § 476. Transfer of duties of assistant treasurers to other officers, etc. The Secretary of the Treasury may, in his discretion, transfer any or all of the duties and functions performed or authorized to be performed prior to May 29, 1920, by assistant treasurers at Boston, New York, Philadelphia, Baltimore, New Orleans, Saint Louis, San Francisco, Cincinnati, and Chicago, or their offices, to the Treasurer of the United States, or the mints or assay offices of the United States, under such rules and regulations as he may prescribe, or may utilize any of the Federal reserve banks acting as depositaries or fiscal agents of the United States, for the purpose of performing any or all of such duties and functions, notwithstanding the limitations of sections 391 and 392 of Title 12, or any other provisions of law. (May 29, 1920, ch. 214, § 1, 41 Stat. 655.) CODIFICATION Section, and sections 477-479 of this title were provisions of the Legislative, Executive, and Judicial Appropriation Act for the fiscal year 1921, act May 29, 1920. Other provisions of section 1 of that Act, omitted here, repealed R. S. § 3595, providing for the appointment of Assistant Treasurers at the cities named in the text,, and all laws or parts of laws so far as they authorized the establishment or maintenance of offices of such Assistant Treasurers or of Subtreasuries, directed the discontin uance of such subtreasuries, and the exercise of all duties and functions by such assistant treasurers or their offices, terminated the office of each assistant treasurer specified and the services of any officers or other employees assigned to duty at his office, and made provision for the transfer of employees in the subtreasuries in the classified civil service. TRANSFER OF FUNCTIONS All functions of all officers of the Department of the Treasury, and all functions of all agencies and employees of the Department, were transferred, with certain exceptions, to the Secretary of the Treasury, with power vested in him to authorize their performance or the performance of any of his functions, by any of those officers, agencies, and employees, by 1950 Reorg. Plan No. 26, §§ 1, 2, eff. July 31, 1950, 15 F. R. 4935, 64 Stat. 1280, set out in note under section 241 of Title 5, Executive Departments and Government Officers and Employees. § 477. Deposit of money or bullion with Federal reserve banks. If any moneys or bullion, constituting part of the trust funds or other special funds required by law prior to May 29, 1920, to be kept in Treasury offices, shall be deposited with any Federal reserve bank, then such moneys or bullion shall by such bank be kept separate and distinct from the assets, funds, and securities of the Federal reserve bank and be held in the joint custody of the Federal reserve agent and the Federal reserve bank. (May 29, 1920, ch. 214, § 1, 41 Stat. 655.) CODIFICATION Prior to its incorporation into the Code, section read as follows: "If any moneys or bullion, constituting part of the trust funds or other special funds heretofore required by law to be kept in Treasury offices, shall be deposited with any Federal reserve bank, then such moneys or bullion shall by such bank be kept separate and distinct from the assets, funds, and securities of the Federal reserve bank and be held in the joint custody of the Federal reserve agent and the Federal reserve bank." See note under section 476 of this title. § 478. Member banks as depositaries. Nothing in sections 476-479 of this title shall be construed to deny the right of the Secretary of the Treasury to use member banks of the Federal reserve system as depositaries as authorized by law. (May 29, 1920, ch. 214, § 1, 41 Stat. 655.) CODIFICATION See note under section 476 of this title. § 479. Quarters occupied by subtreasuries; assignment to Federal reserve banks. The Secretary of the Treasury may assign any or all the rooms, vaults, equipment, and safes or space in the buildings used prior to May 29, 1920, by the subtreasuries to any Federal reserve bank acting as fiscal agent of the United States. (May 29, 1920, ch. 214, § 1, 41 Stat. 655.) CODIFICATION See note under section 476 of this title. § 480. Deputies in case of sickness or absence. In case of the sickness or unavoidable absence of any depositary from his office, he may, with the approval of the Secretary of the Treasury, authorize the chief clerk, or some other clerk employed therein, to act in his place, and to discharge all the duties required by law of such depositary. The official bond given by the principal of the office shall be held to cover and apply to the acts of the person appointed to act in his place in such cases. Such acting officer shall moreover, for the time being, be subject to all the liabilities and penalties prescribed by law for the official misconduct, in like cases, of the depositary, respectively, for whom he acts. (R. S., § 3613; May 29, 1920, ch. 214, § 1, 41 Stat. 655.) DERIVATION Act Feb. 13, 1865, ch. 32, 13 Stat. 427. CODIFICATION Reference to any assistant treasurer near beginning of section was omitted as superseded by act May 29, 1920. § 481. Bond of special agents. Whenever it becomes necessary for the head of any department or office to employ special agents, other than officers of the Army or Navy, who may be charged with the disbursement of public moneys, such agents shall, before entering upon duty, give bond in such form and with such security as the head of the department or office employing them may approve. (R. S., § 3614.) DERIVATION Act Aug. 4, 1854, ch. 242, § 14, 10 Stat. 573. § 482. Collectors of public moneys to pay over. All collectors and receivers of public money of every description, within the District of Columbia, shall, as often as they may be directed by the Secretary of the Treasury or the Postmaster General so to do, pay over to the Treasurer of the United States, at the Treasury, all public moneys collected by them or in their hands. All such collectors and receivers of public moneys within the cities of New York, Boston, Philadelphia, New Orleans, San Francisco, Baltimore, Charleston, and Saint Louis shall, upon the same direction, pay over to the designated depositary in their respective cities, at such offices, respectively, all the public moneys collected by them, or in their hands; to be safely kept by the respective depositaries, until otherwise disposed of according to law. It shall be the duty of the Secretary and Postmaster General, respectively, to direct such payments by collectors and receivers, at least as often as once in each week, and as much oftener as they may think proper. (R. S. § 3615; May 29, 1920, ch. 214, § 1, 41 Stat. 654.) DERIVATION Acts Aug. 6, 1846, ch. 90, § 9, 9 Stat. 61; Feb. 12, 1873, ch. 131, § 65, 17 Stat. 435. CODIFICATION Prior to its incorporation into the Code, section contained another sentence which preceded the second of the present text, and which read as follows: "All such collectors and receivers of public moneys within the cities of New York, Boston, Philadelphia, New Orleans, San Francisco, Baltimore, Charleston, and Saint Louis shall, upon the same direction, pay over to the assistant treasurers in their respective cities, at their offices, respectively, all the public moneys collected by them, or in their hands; to be safely kept by the respective depositaries, until otherwise disposed of according to law." It was omitted as superseded by act May 29, 1920 or as obsolete in view of that section. TRANSFER OF FUNCTIONS All functions of all officers of the Department of the Treasury, and all functions of all agencies and employees of the Department, were transferred, with certain exceptions, to the Secretary of the Treasury, with power vested in him to authorize their performance or the performance of any of his functions, by any of those officers. agencies, and employees, by 1950 Reorg. Plan No. 25 §§ 1, 2, eff. July 31, 1950, 15 F. R. 4935, 64 Stat. 1280, set out in note under section 241 of Title 5, Executive Departments and Government Officers and Employees. § 483. Marshals and district attorneys paying inte Treasury. All marshals, United States attorneys, and other persons than those mentioned in section 482 of this title, having public money to pay to the United States, may pay the same to any depositary constituted by or in pursuance of law, which may be designated by the Secretary of the Treasury. (R. S. § 3616; June 25, 1948, ch. 646, § 1, 62 Stat. 909.) DERIVATION Acts Aug. 6, 1846, ch. 90, § 15, 9 Stat. 62; July 8, 1870, ch. 230, 111, 16 Stat. 216. CHANGE OF NAME Act June 25, 1948, eff. Sept. 1, 1948, substituted "United States attorney" for "district attorney". See section 501 of Title 28, Judiciary and Judicial Procedure. § 484. Deposit without deduction. The gross amount of all moneys received from whatever source for the use of the United States, except as otherwise provided in section 487 of this title, shall be paid by the officer or agent receiving the same into the Treasury, at as early a day as practicable, without any abatement or deduction on account of salary, fees, costs, charges, expenses, ar claim of any description whatever. But nothing herein shall affect any provision relating to the revenues of the Post Office Department. (R. S § 3617.) DERIVATION Acts Mar. 3, 1849, ch. 110, § 1, 9 Stat. 398; Sept. 28 1850, ch. 78, § 3, 9 Stat. 507. CODIFICATION Prior to its incorporation into the Code, words "except as otherwise provided" were followed by "in the next section." The words last quoted were omitted because of other possible exceptions such as section 489 of this title. CROSS REFERENCES Diplomatic missions, consular offices, and district se counting and disbursing offices of the foreign service, use of moneys received for salaries, allowances, see sections 813 and 814 of Title 22, Foreign Relations and Inter course. Proceeds of sale of materials, see section 487 of this title. Rental of plant in connection with river and harbor works, deposit of proceeds, see section 559 of Title 35 Navigation and Navigable Waters. § 485. Receipts from private messages sent over Gor ernment lines. All moneys received for the transmission of private dispatches over any and all telegraph lines owned or operated by the United States, shall be paid into the Treasury of the United States, as required by section 484 of this title. (Mar. 3, 1883, ch. 143, 22 Stat. 616. § 486. Private messages over telephone lines controlled by Treasury Department. Private messages may, with the consent and asthority of the Secretary of the Treasury, be transmitted over any and all telephone lines controlled the Treasury Department, whenever it does not interfere with Government business, at such rates and on such terms and conditions as may from time to time be fixed by the Secretary of the Treasury, the proceeds thereof to be accounted for and paid into the Treasury of the United States. (Apr. 28, 1904, ch. 1762, § 1, 33 Stat. 460.) § 486a. Repealed. July 1, 1944, ch. 373, title IX, § 913, 58 Stat. 714. Section, act May 14, 1935, ch. 110, title I, § 1, 49 Stat. 229, which provided for collections by Public Health Service for care of foreign seamen, is now covered by section 221 of Title 42, The Public Health and Welfare. RENUMBERING OF REPEALING ACT Section 611 of act July 1, 1944, which repealed this ary of the section, was renumbered 711 by act Aug. 13, 1946, ch. 958, 5, 60 Stat. 1049, 713 by act Feb. 28, 1948, ch. 83, 646.13 § 9(b), 62 Stat. 47, 813 by act July 30, 1956, ch. 779, § 3(b), 70 Stat. 720, and 913 by Pub. L. 88-581, § 4(b), EVATION -15,5 Sept. 4, 1964, 78 Stat. 919. § 487. Proceeds of sales of material. All proceeds of sales of old material, condemned stores, supplies, or other public property of any kind, Judicial P except the proceeds of the sale or leasing of marine eduction use vided in he officer Sury, w abatemen costs, charge on whateve hospitals, or of the sales of commissary stores to the officers and enlisted men of the Army, or of mateall morials, stores, or supplies sold to officers and soldiers of the Army or of the sale of condemned Navy clothing, or of sales of materials, stores, or supplies to any exploring or surveying expedition authorized by law, or as provided in section 485 of Title 40, or in other law, shall be deposited and covered into the Treasury as miscellaneous receipts, on account of "proceeds of Government property", and shall not be withdrawn or applied, except in consequence of a subsequent appropriation made by law. Under such regulations as the Secretary of the Army may prescribe, the commanding officers of mounted units of the National Guard may sell all stable refuse and empty grain sacks and containers at public or private 7 provisir d Office Dep LIVATION 110. $1,3 FICATION 1 into the sale and apply the proceeds derived therefrom to the quoted ver 28 such a are falo purchase of feed, supplementing the regular allowance and issue for the animals of the said units, and for the purchase of stable equipment, and horseshoers', saddlers', blacksmiths', and wagoners' tools not an article of issue to such organizations. (R. S. 3618; Feb. 27, 1877, ch. 69, § 1, 19 Stat. 249; Oct. 14, 1940, ch. 875, § 4, 54 Stat. 1136; Aug. 4, 1949, ch. 393, § 20, 63 Stat. 561; Oct. 31, 1951, ch. 654, § 4 (3), 65 Stat. 708.) Dices of the laries Lon Foreign Ba 1949-Act Aug. 4, 1949, eliminated phrase "or of the sales of Coast Guard cutters" following "marine hospitals" in first sentence. 1940-Act Oct. 14, 1940, added last sentence. EFFECTIVE DATE OF 1949 AMENDMENT Amendment of section by act Aug. 4, 1949, effective as of the first day of the third month after the month of approval, August 1949, see note set out preceding part 1 of Title 14, Coast Guard. § 487a. Disposal of scientific or technical equipment, etc., by Office of Scientific Research and Development; disposition of proceeds. The Office of Scientific Research and Development may sell, lease, lend, or otherwise dispose of, under such terms and conditions as it may deem advisable, devices, scientific or technical equipment, models, or other articles of personalty, developed, constructed, produced in or purchased for the performance of its scientific or medical contracts, except articles acquired for administrative purposes, and all receipts from such dispositions shall be covered into the Treasury as miscellaneous receipts. (July 12, 1943, ch. 228, § 1, 57 Stat. 530; June 28, 1944, ch. 301, title I, § 1, 58 Stat. 539; July 17, 1945, ch. 319, § 1, 59 Stat. 476; July 23, 1946, ch. 591, title I, § 101, 60 Stat. 606.) AMENDMENTS 1946-Act July 23, 1946, amended section by omitting "The Director of" preceding "Office". § 487b. Repealed. Aug. 4, 1949, ch. 393, § 20, 63 Stat. 561. Section, act Aug. 2, 1946, ch. 756, title I, § 29, 60 Stat. 857, related to crediting of proceeds from sales of Coast Guard rations, supplies and clothing. § 488. Proceeds of sale of surplus cuttings. The proceeds derived from the sale of surplus cuttings of material for clothing manufactured by the branch, office, or officers of the Army the Secretary of the Army may from time to time designate shall be deposited to the credit of that appropriation out of which the material was purchased. (Aug. 29, 1916, ch. 418, § 1, 39 Stat. 635; June 28, 1950, ch. 383, title IV, § 402 (m), 64 Stat. 273.) AMENDMENTS 1950-Act June 28, 1950, substituted "branch" office, or officers of the Army the Secretary of the Army may from time to time designate" for "Quartermaster Corps of the Army." SECRETARY OF THE AIR FORCE For transfer of certain functions insofar as they pertain to the Air Force, and to the extent that they were not previously transferred to the Secretary of the Air Force from the Secretary of the Army, see Secretary of Defense Transfer Order No. 40 [App. A (54)], July 22, 1949. CROSS REFERENCES Credit to be made to account for replacing clothing and equipage of only such amounts as represent sales of stores, materials, and supplies at actual cost to the Department of Defense, see sections 2208 and 2210 of Title 10, Armed Forces. § 488a. Deposit of fees collected under regulations relating to "Smokey Bear”; availability. The Secretary of Agriculture shall deposit into a special account to be available for furthering the nation-wide forest-fire prevention campaign all fees collected under regulations promulgated by him relating to "Smokey Bear" under the provisions of section 711 of Title 18. (May 23, 1952, ch. 327, § 3, 66 Stat. 92.) |