Nebraska advertiser., 1863-07-30
OFFICIAL L.
LAWS OF THE UNITED STATES,
Passed at the Third Session Of the Thlrty-seUeHh
Congress.
CONTINUED from first page.)

Continued from first page
Sec. so. And be it further enacted, Mhat the
bonds transferred to the treasurer of the United
States, as hereinbefoTe provided by any banking as
ISOLATION for the security Of its circulating notes,
shall be held exclusively for that purpose, until such
notes shall be redeemed, except as provided in this
act; but the comptroller of the currency may give to
any such banking association powers of attorney to
receive and appropriate TO its own use the interest
on the bonds which shall have been so transferred
to the treasuls or by it; but such powers shall be-
come imperative whenever such banking association
shall fail to redeem its circulating notes as afore-
said, and said comptroller may direct the return of
any Of said bonds to the banking association which
transferred the same. upon the surrender to him
ana the cancellation OF 4 propOrtIOnate amount Of
such circulating notes: Provided, That ninity per
centum Of the current market value of the remain
ing bonds which shall have been transferred by the
banking association offering TO surrender such q :
~OUiating notes shall be exual to the amount Of all
the eircuatiOng notes retained by such banking as
ISOLATION: And provided further, That there shall
have been no failure by such association to redeem
its circulating notes and that there shall have been
nc other violation by such association of any of the
provisions of this act for the security of the credi-
tors Of such association; nor shall the treasurer be
re CURED to surrender such bonds in fractional sums
Of less than one thousand dollars; and if, at any
time after said bonds shall be deposited with the
treasurer of the United States, as aforesaid the mar
ket or cash valae shall be reduced. the comptroller
OF the currency is hereby authorized to demand and
receive the amount of such depreciation in other
United States bonds at cash value, or in money,
from the association receiving said bills, to be de-
posted with the treasurer eff the United States, as
long as such depreciation continues.
Sec. q. And be it further enacted, That when
ever the price of any Of the bonds pledged as afOre-
SAID Ter the redemption Of the circulatiOng notes Of
any such banking association shall be, at the stock
exchange in the city Of New York, for 70 ur consecu-
tive weeks, at a rate less than that at which they
shall have been estimated when so pledged and such
depreciation shall not have been made good by a
deposit Of other bonds or money, it SHALL be the du-
V ef the comptroller Of the currency to notify the
treasurer Of the United States Of such fact, and the
payment Of interest upon such deprecated bonds
shall be suspended and such ~intereat shall be retain
ed by said treasurer until the same, when added to
the current market value Of the bonds so pledged,
to be ascertained as before provided shall be equal
70 the amount for which such bonds we're pledged:
f~rcvlded, That Il shall be the duty Of the comp
trouer Of the currency, at the expiration of every
period OF three months, to cause the whole Of the
sums so reta'ne and then remaining in the trea-
sury Of the United States, to be invested in United
states bonds, in the name Of the cOmstrO Her Of the
currency, in trust for the respective associations by
which the bonds on which such interest shall have
accrued shall have been pledged; and whenever Oh e
price OF such deprecated bonds at the stock eX-
change in New York shalt rise to the price at which
lucy were pledged and SO remain for four cOnsecu-
I'VE weeks, such investment shall be assigned to
sUcn association, and all ACQUIRING interest on such
. reaged ooLds shall thereafter be pad to such accO-
S 0Tslon on demand thereof.
r o. and be it further cnacted, Tpat it shall
1 = oaty Of the comptroller Of the currency to
r snoS turnout or mufilated circul- ting notes is
az - y any such banking association and to deliv-
Q o;ranip 49, thereof 30 suth association other blank
wo-n-ont no'es TO an equal amount; and such
{ sboU - I4ulnted notes, after a memorandum
- Ooe1 enteredin the urooks In Accordance
> ~ -seuAuons as may be established bv the
: sbnh Lome = wen as all circulating notes which
sbsU - - surrender to be cancelled.
Z no-sanS = - sues IN the presence of three
| the Treasury, one by the eonrs- ocISO4A5 "a
4 recy, and one by the treasurer pf ~. r-:.I5 60
1nter such regulations as the So.H.4E
S Treasury may prescribe; aud in caS"- u ~
shall have been delivered to the cow-trIuI nO.es
! ~ofieerOr agent Of such association. tben = u. = "
sence, also OF sueh officer or agent, and a cer4;ef.to
Of such burning, signed by the parties !, oDno;-.AS
shall be made in the books Of the comnfTaIa.
y duplicate thereof given 60 such Officer oro-~-N
Sec. 80. And be it further enacted, That i sbsn
be unlaSful for any officer acting under the urovi
sions Of this Set to countersign or deliver tn arr
z such association or 20 any other company or perso1
any circulating notes contemplated by this act ex-
eept as hereinbefore provided, and in accordance
the true intent and meaning of this act. and anv
ofieer who shall violate the proEisins Of this section
shall be deemed guilty Of high misdemeaner. and
on conviction theraof SD all be punished by fne not
exceeding double che amount SO c0untersigned and
delivered, and imprisonment not exceeding fifteen
years, at the discretion Of the court in which he
shall be tried.
} See.3A. And be "a further enacted. That all fees
Tor PROTESTING the notes issued by any saeh banking
association shall be paid by tbs PERSON procuring