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notes it shall be lawful for said corporation to make || payable at any time not exceeding sixty days from the date thereof.

13. Half yearly dividends shall be made of so much of the profits of the bank, as shall appear to the directors advisable; and once in every three years the directors shall lay before the stockhold-|| ers, at a general meeting, for their information, an exact and particular statement of the debts which shall have remained unpaid, after the expiration of the original credit for a period of treble the term of that credit, and of the surplus of the profits, if any, after deducting losses and dividends. If there shall be a failure in the payment of any part of any sum subscribed to the capital of the said bank, by any person, co-partnership or body politic, the party failing shall lose the benefit of any dividend which may have accrued prior to the time for making such payment, and during the delay of the same

monies deposited therein; of the notes in circulation, and of the specie in hand; and shall have a right to inspect such general accounts in the books of the bank as shall relate to the said statement; Provided, that this shall not be construed to imply a right of inspecting the account of any private individual or individuals with the bank.

16. No stockholder, unless he be a citizen of the United States, shall vote in the choice of directors.

17. No note shall be issued of less amount than five dollars.

and lose treble the value of the goods, wares, merchandize and commodities in which such dealing and trade shall have been; one half thereof to the use of the informer, and the other half to the use of the United States, to be recovered in any action of law with costs of suit.

SEC. 13. And be it further enacted, That if the said corporation shall advance or lend any sum of money for the use or on account of the government of the United States, to an amount exceed.

SEC. 12. And be it further enacted, That if the said corporation, or any person or persons, for or to the use of the same, shall deal or trade in buying or selling goods, wares, merchandize or commodities whatsoever, contrary to the provi. sions of this act, all and every person and persons by whom any order or direction for so dealing or trading shall have been given; and all and every 14. The directors of the said corporation shall person and persons who shall have been conestablish a competent office of discount and de-cerned as parties or agents therein, shall forfeit posite in the District of Columbia, whenever any law of the United States shall require such an establishment: also one such office of discount and deposite in any State in which two thousand shares shall have been subscribed or may be held, whenever, upon application ot the legislature of such state, congress may, by law require the same: provided, the directors aforesaid shall not be bound to establish such office before the whole of the capital of the bank shall have been paid up. And it shall be lawful for the directorsing five hundred thousand dollars; or of any par of the said corporation to establish offices of dis- ticular state, to an amount exceeding fifty thoucount and deposite, wheresoever they shall think sand dollars; or of any foreign prince or state, fit, within the United States or the territories (unless previously authorized thereto by a law of thereof, and to commit the management of the the United States,) all and every person and persaid offices, and the business thereof, respectively, sons, by and with whose order, agreement, conto such persons, and under such regulations as sent, approbation and connivance, such unlawful they shall deem proper, not being contrary to advance or loan shall have been made, upon conlaw or the constitution of the bank. Or instead viction thereof shall forfeit and pay for every such of establishing such offices, it shall be lawful for offence, treble the value or amount of the sum or the directors of the said corporation, from time sums which have been so unlawfully advanced or to time, to employ any other bank or banks, tolent; one fifth thereof to the use of the informer, and be first approved by the Secretary of the treasury, the residue thereof to the use of the United States. at any place or places, that they may deem safe SEC. 14. And be it further enacted, That the and proper, to manage and transact the business bills or notes of the said corporation originally proposed as aforesaid, other than for the pur-made payable, or which shall have become payaposes of discount, to be managed and transacted ble on demand, shall be receivable in all payby such offices, under such agreements, and sub-ments to the United States, unless otherwise diject to such regulations as they shall deem just || rected by act of congress. and proper. Not more than thirteen, nor less SEC. 15. And be it further enacted, That during than seven managers or directors, of every office the continuance of this act, and whenever reestablished as aforesaid, shall be annually ap-||quired by the secretary of the treasury, the said pointed by the directors of the bank, to serve one corporation shall give the necessary facilities for year: they shall choose a president from their transferring the public funds from place to place, own number: each of them shall be a citizen of within the United States, or the territories thereof, the United States, and a resident of the state, and for distributing the same in payment of the territory or district wherein such office is esta-public creditors, without charging commissions blished: and not more than three-fourths of the || or claiming allowance on account of difference of said managers or directors, in office at the time exchange, and shall also do and perform the seof an annual appointment, shall be re-appointed veral and respective duties of the commissioners for the next succeeding year; and no director of loans for the several states, or any one or more shall hold his office more than three years out of of them, whenever required by law. four, succession; but the president may be always re-appointed.

15. The officer at the head of the treasury department of the United States shall be furnished, from time to time, as often as he may require,|| not exceeding once a week, with statements of the amount of the capital stock of the said corporation and of the debts due to the same; of the

SEC. 16. And be it further enacted, That the deposites of the money of the United States, in places in which the said bank and branches thereof may be established, shall be made in said bank or branches thereof, unless the secretary of the treasury shall at any time otherwise order and direct; in which case the secretary of the treasury shall immediately lay before congress, if in session, if not, immediately after the com

mencement of the next session, the reasons of || thereof convicted by the due course of law, shall such order or direction.

be sentenced to be imprisoned and kept to hard labor for not less than three years, nor more than ten years, or shall be imprisoned not exceeding ten years, and fined not exceeding five thousand dollars. Provided, that nothing herein contained, shall be construed to deprive the courts of the individual states of a jurisdiction under the laws of the several states, over any offence declared

SEC. 19. And be it further enacted, That if any person shall make or engrave, or cause or procure to be made or engraved, or shall have in his custody or possession, any metallic plate, engrav

SEC. 17. And be it further enacted, That the said corporation shall not at any time suspend or refuse payment in gold and silver, of any of its notes, bills or obligations; nor of any monies received upon deposite in said bank, or in any of its offices of discount and deposite. And if the said corporation shall at any time refuse or ncglect to pay on demand any bill, note or obliga-punishable by this act. tion issued by the corporation, according to the contract, promise or undertaking therein expressed; or shall neglect or refuse to pay on demand any monies received in said bank, or in any of its offices aforesaid, on deposite, to the personed after the similitude of any plate from which or persons entitled to receive the same, then, and any notes or bills issued by the said corporation in every such case, the holder of such note, bill or shall have been printed, with intent to use such obligation, or the person or persons entitled to plate, or to cause or suffer the same to be used in demand and receive such monies as aforesaid, forging or counterfeiting any of the notes or bills shall respectively be entitled to receive and re issued by the said corporation; or shall have in cover interest on the said bills, notes, and obli- his custody or possession, any blank note or notes, gations or monies, until the same shall be fully bill or bills, engraved and printed after the simipaid and satisfied, at the rate of twelve per cen- litude of any notes or bills issued by the said cortum per annum from the time of such demand as || poration, with intent to use such blanks, or cause aforesaid: Provided, That congress may at any or suffer the same to be used in forging or countime hereafter enact laws enforcing and regulat-terfeiting any of the notes or bills issued by the ing the recovery of the amount of the notes, bills, said corporation; or shall have in his custody or obligations or other debts, of which payment possession, any paper adapted to the making of shall have been refused as aforesaid, with the bank notes or bills, and similar to the paper upon rate of interest above mentioned, vesting jurisdic- which any notes or bills of the said corporation tion for that purpose in any courts, either of law shall have been issued, with intent to use such or equity, of the courts of the United States, or paper, or cause or suffer the same to be used in territories thereof, or of the several states, as forging or counterfeiting any of the notes or bills they may deem expedient. issued by the said corporation, every such person, being thereof convicted, by due course of law, shall be sentenced to be imprisoned, and kept to hard labor, for a term not exceeding five years, or shall be imprisoned for a term not exceeding five years, and fined in a sum not exceeding one

thousand dollars.

funds thereof, the sum of one million and five hundred thousand dollars, in three equal payments; that is to say: five hundred thousand dollars at the expiration of two years, and five hundred thousand dollars at the expiration of three years, and five hundred thousand dollars at the expiration of four years, after the said bank shall be organized, and commence its operations in the manner herein before provided.

SEC. 18. And be it further enacted, That if any person shall falsely make, forge or counterfeit, or cause or procure to be falsely made, forged or counterfeited, or willingly aid or assist in falsely || making, forging or counterfeiting any bill or note in imitation of or purporting to be a bill or note issued by order of the president, directors and SEC. 20. And be it further enacted, That in concompany of the said bank, or any order or check sideration of the exclusive privileges and benefits on the said bank or corporation, or any cashier conferred by this act, upon the said bank, the thereof; or shall falsely alter, or cause or pro-|| president, directors and company thereof, shall cure to be falsely altered, or willingly aid or as-pay to the United States, out of the corporate sist in falsely altering any bill or note issued by order of the president, directors and company of the said bank, or any order or check on the said bank or corporation, or any cashier thereof, or shall pass, utter or publish or attempt to pass utter or publish as true any false, forged or counterfeited bill or note purporting to be a bill or note issued by order of the president, directors and company of the said bank; or any false, forged or counterfeited order or check SEC. 21. And be it further enacted, That no other upon the said bank or corporation, or any cashier bank shall be established by any future law of thereof, knowing the same to be falsely forged or the United States during the continuance of the counterfeited; or shall pass, utter or publish, or corporation hereby created, for which the faith of attempt to pass, utter or publish, as true any the United States is hereby pledged: Provided, falsely altered bill or note issued by order of the congress may renew existing charters for banks president, directors and company of the said bank, in the district of Columbia, not increasing the caor any falsely altered order or check on the said pital thereof, and may also establish any other bank or corporation, or any cashier thercof, bank or banks in said district with capitals not knowing the same to be falsely altered with in- exceeding in the whole six millions of dollars, if tention to defraud the said corporation, or any they shall deem it expedient. And notwithstandother body politic or person; or shall sell, uttering the expiration of the term for which the said or deliver, or cause to be sold, uttered, or deliv- corporation is created, it shall be lawful to use ered, any forged or counterfeit note or bill in the corporate name, style and capacity, for the imitation, or purporting to be a bill or note issu-purpose of suits for the final settlement and lied by order of the president and directors of the quidation of the affairs and accounts of the corsaid bank, knowing the same to be false, forged,poration, and for the sale and disposition of their or counterfeited; every such person shall be estate, real, personal, and mixed; but not for any deemed and adjudged guilty of felony, and being "other purpose, or in any other manner whatsoever,

nor for a period exceeding two years after the expiration of the said term of incorporation.

SEC. 22. And be it further enacted, That if the subscriptions and payments to said bank shall not be made and completed so as to enable the same to commence its operations, or if the said bank shall not commence its operations on or before the first Monday in April next, then and in that case congress may at any time within twelve months thereafter declare by law this act null and void.

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facility and ease, from the centre to the extremities of the nation, and returning again through the veins of commerce, impart health and vigor to the body politic; whilst others equally confident in their opinions, assert it will produce either a leprosy, or a dropsy. Experience must settle the question. For the purpose of handing down the names of the advocates, and opponents of the bill, we subjoin the yeas and nays on its || passage in both branches of the national legislature. But the yeas and nays not having been called for in the house, on the adoption of the amend||ments of the senate, we give them only on its first passage.

HOUSE OF REPRESENTATIVES, Mar. 14, 1816. The yeas and nays being called for, they were, YEAS-Messrs. Adgate, Alexander, Atherton, Baer, Betts, Boss, Bradbury, Brown, Calhoun, Cannon, Champion, Chappell, Clark, N. C. Clark, Ky. Clendenen, Comstock, Condict, Conner, Creighton, Chrocheron, Cuthbert, Edwards, Forney, Forsyth, Gholson, Griffin, Grosvenor, Hawes, Henderson, Huger, Hulbert, Hungerford, Ingham, Irving, N. Y. Jackson, Jewit, Kerr, Va. King, N. C. Love, Lowndes, Lumpkin, Maclay, Mason, M'Coy, M'Kee, Middleton, Moore, Mosely, Murfree, Nelson, Ms. Parris, Pickens, Pinkney, Piper, Robertson, Sharpe, Smith, Md. Smith, Va. South

SEC. 23. And be it further enacted, That it shall at all times be lawful for a committee of either house of congress, appointed for that purpose, to inspect the books, and to examine into the proceedings of the corporation hereby created, and to report whether the provisions of this charter have been, by the same, violated or not, and whenever any committee as aforesaid shall find and report, or the president of the United States shall have reason to believe that the charter has been violated, it may be lawful for congress to direct, or the president to order a scire facias to be sued out of the circuit court of the district of Pennsylvania, in the name of the United States, (which shall be executed upon the president of the corporation for the time being, at least fifteen days before the commencement of the term of said court,) calling on the said corporation to show cause wherefore the charter hereby grant-ard, Taul, Taylor, N. Y. Taylor, S. C. Telfair, ed shall not be declared forfeited; and it shall be lawful for the said court, upon the return of the said scire facias, to examine into the truth of the alleged violation, and if such violation be made appear, then to pronounce and adjudge that NAYS-Baker, Barbour, Bassett, Bennett, Birdthe said charter is forfeited and annulled: Pro- sall, Blount, Breckenridge, Burnside, Burwell, vided, however, Every issue of fact which may be Cady, Caldwell, Cilley, Clayton, Clopton, Cooper, joined between the United States and the corpo- Crawford, Culpepper, Darlington, Davenport, ration aforesaid, shall be tried by jury. And it Desha, Gaston, Gold, Goldsborough, Goodwyn, shall be lawful for the court aforesaid to require Hahn, Hale, Hall, Hanson, Hardin, Herbert, Hopthe production of such of the books of the corpo-kinson, Johnson, of Va. Kent, Langdon, Law, ration as it may deem necessary for the ascer-Lewis, Lovett, Lyle, Lyon, Marsh, Mayrant, tainment of the controverted facts; and the final judgment of the court aforesaid, shall be examinable in the Supreme Court of the United States, by writ of error, and may be there reversed or affirmed according to the usages of law. H. CLAY,

Speaker of the House of Representatives
JOHN GAILLARD,

President of the senate pro tempore.

April 10, 1816—approven,

JAMES MADISON.

The above law to establish a National Bank, we publish from a corrected copy from the trea sury department, it may therefore be relied on as strictly correct. As to the probable effect such an institution will have upon this republic, we will not attempt to conjecture. We have heard a variety oppinions expressed on the subject, in the formation of which, no doubt prejudice, hopes, or fears, took a very considerable share. Some suppose they see the letter and spirit of the constitution violated and yielding to speculative expediency; whilst others say that it is no infringement of that instrument. Some believe it will be a great political artery, through which the finance of the country will flow with

Thomas, Throop, Townsend, Tucker, Ward, N.
J. Wendover, Wheaton, Wilde, Wilkin, Wil-
liams, Willoughby, Thos. Wilson, Wm. Wilson,
Woodward, Wright, Yancey, Yates,-80.

M'Lean of Ky. M'Lean of Ohio, Milnor, Newton,
Noyes, Ormsby, Pickering, Pitkin, Randolph,
Reed, Root, Ross, Ruggles, Sargeant, Savage,
Sheffy, Smith, of Penn. Stanford, Stearns, Strong,
Sturges, Taggart, Tallmage, Vose, Wallace,
Ward of Ms. Ward of N. Y. Webster, White-
side, Wilcox-71.

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FROM THE FEDERAL REPUBLICAN.

add to the wealth of the rich man. While the

ON COTTON FACTORIES IN THE UNITED poor man could add to the value of his farm and stock only the small gains arising from his individual labour.

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STATES. The capital improvements in manufacturing cotton wool, consist in the carding and spinning of it by machinery moved by water.

At a common wheel, a woman draws out and twists one thread. In a cotton mill, a woman, or a girl a dozen years old, can attend ninety spin-facturing establishments in Europe. A manufacdles, drawing and twisting ninety threads at the same time.

Thread, or yarn, is distributed in the country around, among the farmer's wives, and daughters and other industrious families, who fill up their vacant hours in weaving. The cloth thus woven is returned to the factory; and the women are paid in cotton yarn for their weaving, at the rate of seven or eight cents a yard. The cotton yarn so obtained for their wages, they carry home and weave into cloth, which supplies the famlies with shirts, shifts, and all other articles for which linen was formerly used.

The case here supposed is exemplified in the southern states, where planters of equal skill and industry, attain incomes and wealth in proportion to their respective numbers of labouring slaves. A like exemplification is afforded by the manu turer with a capital of a hundred, two hundred, or five hundred thousand dollars, collects labourers to work for him in proportion to that capital. The labourers obtain "meat, clothes, and fire:" but all the profits of their labour, go into the coffers of their employer.

Hence we perceive the inducements to set up great manufactories in the United States. Those who perform the labour (inen, women, and children) will thereby obtain "meat, clothes and fire: while the profits of their labour enrich their employers. And hence we may infer, as a maxim, that where there is a very rich man, there must be many poor. Wealth gained by persons engaged in foreign commerce, alises partly from the labour of people in foreign countries, and partly from that of the people in the country where the commercial man resides, to whom that commerce

It is cheaper for industrious housewives to obtain, in this way, cotton yarn at the factories, than as formerly, to buy the raw cotton, and pick and card it, and spin it on a common wheel; and of course, they can, at the same expense, furnish their families with more, and probably with bet-gives employment. ter cloth. In this view the cotton factories are These considerations may account for the zeal highly valuable, and of extensive importance to of the manufacturing applicants to congress for the country, and they will never want employment "protecting duties and prohibitions." By excludwhile shirts, shifts, and other comfortable arti-ing foreign manufactures which interfere with cles made of conton cloth, pertaining to house- their own, they will acquire the power to employ keeping, shall be in fashion. multitudes of men, women, and children, by the profits of their labour to grow rich, or to add to wealth alre. dy in their possession.

The persons (many of whom are capitolists, that is men, of large property) who have erected these factories, have for sale the cotton cloths woven in the manner before mentioned. They wish to increase the quantity, so as to supply not their neighbours only, but all the people of the United States; and they even now look forward to the time when they may supply at least all the American world.

But who will enable the manufacturers to pay the wages of the persons they employ, and reap the profits of their labour? The consumers, the people of the United States, who will in effect, be taxed for that purpose. to the amount of all the differences between the prices (according to their intrinsic values) of the imported manufactures Here it may be pertinent to ask, how men in-and the higher prices of the cloths made at the crease their property, or grow rich? The answer is, by the labour of others.

American manufactoies.

And what, in this matter, does sound policy, or the true interest of the people of the United States require? Will any one question the correctness of the rule of exchange?"That it is every man's interest to buy cheap and sell dear? And if this be the interest of one individual, will it not be equally the interest of two, of ten, of a hundred, of a thousand individuals, and of course of the nation?

Were two men of equal age, bodily strength, industry, and dexterity, to enter a forest, each to clear and cultivate the land if one had ten, twenty, or fifty thousand dollars, besides the do`mestic animals, and husbandry tools, necessary | for the work and if the other alike possessed of domestic animals and husbandry tools, had no more money than would furnish him with food and clothing, until his own farm would supply If indeed, there be a country, where without both :-Then, if there were no labourers to be the introduction of manufactures, a multitude of hired, the monied man would make no greater its inhabitants must be idle, unemployed, there, progress, in rendering his land productive than unquestionably, manufactories may be establishthe man without money. His gold and silvered; at least so far as to give employment to those (in respect to husbandry improvements) beyond who otherwise would be idle; and whose labour the sum at first equally necessary to both, would must consequently be cheap. But are the United be of no more use to him than the stones scattered States that country? particularly in regard to over his fields. But if labourers were to be had, cotton manufactures; when those imported from and he hired one to assist him, his progress in im-foreign countries, though loaded with chargprovements, during an equal length of time, would es and duties incident to their importation to an be double that of his neighbour. If he hired amount equal to half, or three quarters of their two labourers, and he continued to exert his own original cost, can yet be sold (with a reasonable industry, his improvements would be trebled; and profit to the merchant) at prices much below so on, in proportion to the number of labourers those demanded for the cotton cloths of the employed. And the gain from which all this la- United States? Ought not the consumers-the bour exceeded the expense of procuring it, would citizens of the United States to be left free to p:

chase where they please? that is, to consult their own interests, by buying at the cheapest shop?

If the high price of labour in the United States, so enhances the prices of American cotton cloths that these cannot stand a competition with those of other countries,-what does this prove, but that the American labourers can find more profitable employment in other occupations, and that the attempts to establish the cotton factories to the extent contemplated by their proprietors, are pre

mature?

citement, in conformity to the wishes of the So-
ciety for the promotion of Agriculture in this
state, will I trust, induce you and some of your
typographical brethren, to insert these questions
in your papers.
D. HUMPHREYS.

Humphreyville, March 13, 1816.

QESTIONS.

1st. Has the moon any influence on the growth of vegetables; or in other words, does the sowing and planting of vegetables at any particular times of the moon, make any difference in the increase. If the moon has any influence on the growth of vegetales, is this the same on all vegetables; or should the seed of some be committed to the ground at one time of the moon and others at another, to mprove a good crop?

To a certain extent, the cotton factories are highly important to the United States, they can furnish some kinds of thread, and be so increased as to supply cotton yarns sufficient to employ all the looms in the country. The wives and daughters of the farmers and other industrious citizens, accustomed to fill up all their vacant hours in carding spinning and weaving, can be freed from the laborious exercise of the first, and the te2d. At what time of the year should vegetables diousness of the second, and occupy all their time be cut, which we intend to destroy or root out? in the last-weaving: the carding and spinning 3d. At what time of the year should vegetables being now performed by the machinery of the be cut, which we wish to have grow again? cotton-mills, with an immense saving of manual 4th. Does every kind of manure contribute to labour. the growth of vegetables in proportion to the When these factories shall have their machine-strength, or is any particular kind of manure betry so improved, that in the article of weaving, one woman can attend two or three looms, and weave as many yards of cloth in a day, as three women at three common looms (and this is known to be practicable) then the proprietors will bring their cloths into the market at such cheap rates as to come into full competition with, if not to exclude those usually imported. Some competition, however, might be useful; to keep our own fabrics at reasonable prices, to preserve their good qualities and to encourage exertions to excel, in order to gain a preference to those imported.

In regard to the manufacture of woolens, it may be remarked, that all the wool formerly produced in the United States was worked up in domestic, chiefly household manufactures. If the quantity of wool now grown, by the multiplication of sheep, especially of the fine wooled sort, be so increased that the quantity exceeds the demands for household manufactures,-it follows, that woolen factories may be established with a prospect of reasonable gain to the proprietors. And for fine cloths finished in the best style, such factories will be necessary: and doubtless the demands of the country will sustain them; if their proprietors should not make too much haste to be rich.

AGRICULTURAL.

P.

Highly important to the agricultural and economical improvement of the community.

Mr. Stecle.-At the commencement of the season of vegetation, it is judged expedient to reprint in the newspapers, the questions concerning our farming business, which were proposed to the public in the first number of the Connecticut Agricultural and Economical Almanack.

Should one valuable fact or observation be elicited by these inquiries, and communicated for publication, an interesting object will be accomplished. It is hoped, at least, they may have a tendency to excite investigation.

The prospect of a public benefit, which may result from an attempt to produce such an ex

ter adapted to the growth of certain vegetables than others; and if so, what are the kinds of manure best adapted to each vegetable?

5th. Will all vegetables grow equally well on the same ground after each other; if not, what are the vegetables which should annually succeed to each other on the same ground?

6th. How should the seed for planting and sowing be selected

7th. What is the most eligible method of destroying canker worms, and other hurtful vermin

and insects?

that are to be worked; taking into account the 8th. What is the best method of feeding horses expense of keeping, and the labor the horse can perform, under different modes of feeding?

9th. What is the best method of feeding fat cattle?

10th. What is the cheapest and best feed for fattening swine?

11th. From what animal can be produced the greatest quantity of human sustenance with the least expense?

12th. What animal can be made the greatest improver of soils?

13th. What breed of horses, neat cattle, sheep, or swine, will yield the greatest profit?

14th. Is it not best, at all times, to feed all animals to the full, to keep them fat; those kept for labour, and perhaps a few others excepted?

15th. In what month is it preferable that sheep should yean or cast their lambs?

16th. How ought young lambs to be treated, when their dambs have not a supply of good milk?

the seasons of gestation and sucking lambs?
17th. What is the best feed for sheep, during

18th. What are the several diseases of sheep, and what are the most effectual remedies for them? 19th. Is it best to let swine run at large in a pasture, or confine them in a close pen?

20th. To what age should swine be kept, to make the best pork, and yield the greatest profit?

21st. Is any root, or other green food, equally good with Indian corn, or some dry food, for growing and fattening swine?

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