Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1863-06-11

tered or with giy aid or assist in falsely alter
ing, any such circulating notes, issued as afore-
said or shall pass, utter, or publish, or attempt to
pass utter, or publish, as true, any falsely altered
or spurious circulating no O. issued or purportng |
to have been issued as aforesaid, knowing the
same TO he falsely altered or spurious, every /
such person shall be deemed and adludged guilty |
Of felony, and being thereof convicted by due /
course of law, shah be sentenced 20 be impris-
ened and kept at hard labor for period not less |
than FIVE years nor more than fifteen years, and |
to be fined IN a sum not exceeding one thousand 1
dollars.
SEQ. So. And be il further enacted, That il any
person shall make or engraye, or cause or procure
10 be made or engraved, or shall have in his GUS
tody or possession any engraved plate or oioeR |
after the simltude OF any plate from which any |
circulating notes issued as aforesaid shall have
been printed, with intent TO use such plate of
block, or cause suffer the same TO be used, IN
forging or CONTRIBUTING any OF the notes issued
as aforesaid or shall have IN his custody or pos
session any INK note or notes engraved and
printed after the simitude OF any notes issued as
aforesaid with intent to use such blanks, or cause
suffer the same to be used, IN forging or eoun-
terfeting any OF the notes issued as aforesaid or
shall have in his custody or possession any paper
adapted to the making of such notes, and similar
to the paper upon which any such notes shall
have been sued with intent TO use such paper,
or cause or suffer the same to be used, in forging
or counterfctng any of the notes issued rs afore-
said, 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
less than five nor more than fifteen years, and
fined in sum not exceeding one thousand dol
Sec. 50. and be il further enacted, That suits
actions and proceedings by and against any assoc
citation under this act may be had IN any circuit,
district, or territorial court OF the United States
held within the district in which such association
Sec. 60. And be il farther enacted, That it shall
be the duty Of the Comptroller of the Currency TO
report annually to Congress- at the commencement
Gifts session
First A summary of the state and condition Of
every association from whom reports have been
received the preceding year. at the several dates to
which such reports refer, with an abstract OF the
whole amount of banking capital returaed BY them'
Of the whole amount Of their debts and liabilities,
the amount of circulating notes outstanding, and
the total amount of means and resources, specify
ing the amount of specie held by them at the times
of their several returns, and such other informa-
ton in relation to said associations as IN MS Juug
ment, may be useful.
second. statement Of the associations whose
business has been closed during the year with the
amount of their circulation redeemed, and the
amount outstanding.
Third. To suggest any amendment to the laws
relative to banking by which the system may be
improved and the security Of the bill holders and
depositors may be increased.
Fourth. To report the names and compensa-
ten of the clerks employed BY him, and the
whole amount Of the expenses OF the banking de.
partment during the year and such report
shall be made by or before the first day OF De-
cember IN each year, and the usual number o.
copies for the use Of the Senate and House, ano
shall be printed by the public printer and in rea
diness for distribution on the first meeting OF Con
gress.
banking association or corporation lawfully in ex
istence as bank Of circulation on the first day 0
Janu try ammo Dmini eighteen hundred and six
ty-three organized in any State, eithor rndsi
snec;al oct az incorporation, general banking
law, may, any time within - years after TN
passage Of this act become an association unde
the provisions of this act that in such case tn
certificate of ASSOCIATION provided for by this &C
shall be signed by the directors of such banking
association or corporation, and in addition to tn
specifications required by this act shall specif,
that such directors are authorized by the owner
Of tw0-thirds of the capital stock OF such bank
ing association or corporation to make such Ger
tificate of association and such certificate of as
ISOLATION shall thereafter have the same effect
and the same proceedings shall be had thereon
as ia provided for as to other associations organ
lied under this act And such association Q
corporation thereafter shall have the same pow
ers and privileges, and shall be subject to tn
same duties, responsibilities and rules, in all re
spects, is Iarel prescribed in this act 70
ether associations organized under it, and sha
be held and regarded as an association under TN
act.
Sec. So. And be It further enacted, That any ban
or banking association authorized by any stat
law to engage in the business OF banking and dull
organized under such State law at the time OF tn
pessage Of this act, and which shall be the holde
and owner Of United States bonds to the amour
If ffty uer centum OF its capital stock, may trans
fer and deliver to the Treasurer of the Unite
Ssates such bonds, or any part thereof, IN ia
manner provided by this act and upon maxim
such transfer and delivery, such b NIX or bankin
association shall be entitled to receive from tn
Comptroller Of the Cure cy, circulating notes,
herein provided, equal in amount t. eighty p'
centum of the amount ct the bonds so transferrc
and delivered. !,
Sec, 49, And be IL further enacted That upon Il
failure OF any such State bank or banking assoc
atom TO redeem any of Its circulating notes ISSUE
a,nder the provisions of the preceding section, Il
Comptroller of the Currency shall, when satish.
that such default has been made, and within thir
DAYS after notice of such default, proceed TO d
clare the bonds transferred and delivered to u
Treasurer forfeited to the United States, and Il
same shall thereupon be forfeited accordingly.
And thereupon the circulating notes which ma
been issued By such bank or banking associate
shall be redeemed and paid at the Treasury OF 4
United States, in the same manner as other elrci
lating notes issued under the provisions OF this D.
are redeemed and paid.
Sec "a. And be ii further enacted, That q
bonds forfeited, as provided in the last precedii
section, may be Cancelled 10 an amount equal
the circu ting notes redeemed and paid.
such bonds may be sold, under the direction OF q
Secretary of the Treasury, and after Tetalnil
out of the proceeds sum sufficient 10 pay u
whole amount of circulating notes tor the REDEEM
ton OF which such bonds are held, the surplus,
any remains, all be paid to the bank or ban
ing ASSOCIATION from which such bonds were r
oaived.
Sec SIS. .ind be At further enacted, That Co
gress reserves the right, at any time, to amen
alter, or repeal this act
Approved, February %, 1868.