Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1863-06-11
(oFFICIAll
LAWS or THE UNITED STATES.


c,ao IyII.-An Act TO provide a National Cur.
map, - ssc,,red by pledge OF United States
s Ienvy, ~, 10 provide for the circulation and
resumption th,. WV
ne enacted by o.. S'@ets az House q Repre-
,'gGtipes ofthe UEite6 = shall be ostablisbed IN
rrsss sssemt|ed, That Their. separate bureau,
ybe Tr,>Sspry Department /. Necuuon OF this
S;cb shall BE- charged with the, 4 NV CONGRESS
md ali other icws that may be pass. : national
respecting the issue and regulation d IS. The
1Trrenoy secured by United States bonn omi-
rbief officer Of the said bureau shall be te. Ill
mated the Comptroller Of the Currency, and Sh>
he under the general dlIcctlon Of the Secretary oi
,be Treasury. lie shall be appointed b. the
PT,qdent on the nomination vi the Secretary Of the
Treasury by and with the advice and consent of the
senate and shaa hold his Office ior the term OF i've
rcars unless sooner removed by the President, by
,,d with the advice ana consent OF the Senate
he shall receive au annual salary Of hye thousand
f,Iari He shall have competent deputy, ap-
POINTED by the Secretar! whose salary shall be
ivo thousand five hundred dollars, and who shall
nogsess the power and perform the duties attached
XIV law TO the Office OF comptroller during a va
clucy in sueh oinee' aud during ms absence or m
ability lie s!all employ, from time 10 time, the
necessary cleric 20 discharge such duties as he
shall direct, which clerks shah be appointed and
classified by ghe Secretary of the Treasury in the
manner nov provided by law. Within fifteen
days from the time OF notice Of his appointment,
the Comptroller shall take and subscribe the oath
Of gthco pres 1acd by the Constitution and laws
OF tue Unite, States; and he shall give to the Unl-
tea states a nd ia the penalty Of one hundred
thousand do trs, with not less than two response
BILE ferhOldere as surcuos, 20 be approved by the
Secretary OF thc Hrcususy, conditioned Ton the
mithiui discharge of the duties Of his Office. The
Deputy Comptroller 30 appointed shall also take
the oath OF Office prescribed by the Constitution
and Jaws OF the United States, ana shall gave
like bond IN thopenaity of fifty thousand dollars.
The Uompiro yr and DeputyC Comptroller shall not,
either directly indirectly, be interested in any
association lSsuluS national currency Nn0Cr the
Soc q And Je Il .tarttc, oaoo,ed, That the
Comptroller Of the currency, with the approval Of
the Secretary Of the Treasury, shall devise lseal,
with Suitable inscriptions, for his othce doSellp-
tion OF which, with a certificate 81 approval 9y the
Secretary OF the Treasury, shal! be MED N the Oh
nee Of the Secretary OF state with an impression
thereof, which shall thcreupou become the seal Of
Office OF the Comptroller OF the Currency, and the
SAINT may be renewed when necessary. Livery
certificate, assignment, and conveyance executed
by the Comptroller, IN pursuance Of any authors
" Cou1eJryl on him 10y law and sealed win MS
seal OF Office, shall be received IN evidence IL an
places and courts whatsoever; and all copies Of
fat,Crs iu :hr oflvc OF the Comptroller, certified
tv HIM, and authenticated by the sand seal, shall
in ali cases be evidence equally and in like man
uer as the OllgsusL An impression o. sNch sea-
directly the paper shall he as valid as Il made
Sec s And be IL further enacted That there
shall be assigned TO the Comptroller OF the Cur
rency by the Secretary Of the Treasury suitable
rooms III the Treasury building tor conducting
the business Of the Currency Bureau, in which
shah he sate and secure fre-pTooi vaults, ia which
a II shall be- the duty OF the Comptroller to deposit
81 and safely keep all the plates and other valuable
& things belonging to his department; and the Comp
w ROLLER shall from time 10 time furnish the neCes-
# sarv furniture, stationery, fuel, lights, and other
"a proper CoEYencnecs for the transaction ct the SAID
~ business.
s term Unite. States bonds used IN this
act, shall be Construed to mean AL coupon and
81 registered bonds now issued or that may here
NJ after be Issued on the faith Of the United States
by the Secretary OF the Treasury III pursuance OF
Sec. g. .nd be Il lgile, enacted, Tint assoeia-
Il tons for carrying on the business Oh banking may
n be formed by any number OF persons, not less in
n any case than hVe.
Sec. g. And be IL FURTHER enacted That persons
n uniting to form such an ASSOCIATION shall, under
their hands and seals, make certificate which
shall specify
First The name assumed 10y such association.
Second The place where its operations of dis
count and deposit TO be carried on designating
HI the State Territory, or DISTRICT and also the par
III IiculaT city, town, or village.
Third The amount Gifts capital stock, and the
NJ number oil shares INTO which the same shall be di-
"a yldod which capital stock shall not he less than
hfy thousand dollar, and ia cities whose popula-
ton is ten thousand Pelsons,thc capital stock
shall not be less than one hundred thousand dol
Fourth The names and places OF residence OF
the shareholders, and the number of shares held
by each OF them.
Fifth. The time when such association shall
commence.
sixth. a declaration that said certificate is made
TO enable such persons 20 avail themselves of the
advantages Of THIS act
The sald certificate shall be Acknowledged before
a nudge of some court of record or notary public,
and the acknowledgement thereof certified under
L the seal OF such court or notary, and shall be
transmitted, together with a copy Of the articles OF
association which shall have been adopted, to the
COMPTROLLER of the Currency, who shall record and
II carefully preserve the same IN his office. Copies
Of such gcrthCae. duly certified by the Comptroll-
er, and authenticated g. hs seal of office, shall be
legal and sufficient evidence in all courts and pla-
WI within the United states or the jurisdiction OF
A the government thereof Of the existence OF such
MI association, and OF every other matter or thing
when could be proved by the production Of the
glal certificate
Sec :, ARd Be at fuythsy. eaacted, That at least
thirty per eentum OF the capital stock Of such as
I'D ISOLATION shall be paid at the time Of the com.
IT, mencement OF Its banking business, ANA the re.
NH maluder Of the capital stock Of such association
shall DO pad IN insta meuts Of at least ten pei
a centun each on the whole amount to which The
# ASSOCIATION shall b. limited frequently as one
nstallment AT the end OF each succeeding two
months from the time Of the commencement of if,
AL banking operations, until the whole OF the capita
M stock shall be paid in.
& Sec. g. AID be a fGFtheT enacted, That if any
shareholder, or his assignee, shall fail to pay any
instalment on the stock when the same is reuuir
cd by the foregoing section to be paid, the direo
tors Of such association may sell the stock held by
IL such delinquent shareholder ut public auction
NJ having given three weeks previous notice thereo
& in newspaper published and of general circuls
M ton III the city where the association is loeat
led if the same be located in city, and if not SC
located, then III newspaper printed, or of gener.
fE43& III ClTCulAtlon, IN the county where the
8 located 10 any person who will pay the highes
price therefor, and not less than the amount ther
due thereon with the expenses OF advertisement
and sae and the excess, if any, shall be paid tc
the delinquent shareholder. II no bidder can be
found who will pay for such stock the amount
due thereon 10 the association, and the costs OF
advertisement and sale, the amount previously
paid shall forfeited to the association and such
stock may subsequently, be SOLD the directors
T## may order.
- Sec. 9. Ind be IL further enacted, That when
L ever certificate shall have been transmitted 10
H. The Comptroller of the Currency as provided in
this ACT and the association transmitting the Same
shall notify the Comptroller that at least thirty
per centum OF its capital stock has been paid as
aforesaid, and that such association has complied
Pith all the provisions of this act required to be
complied With before such association shall be au-
horned 70 commence the business of banking
IND that such association is DESTROYS OF conmenc-
ng such business, the Comptroller shall immedi-
tely proceed, IN such manner as he shall nv yer
ral rules prescribe, to examine the condition AZ
uch association TO ascertain especially the
mount OF money paid in on account of its capital
took the name and place of residence of each Of
he directors OF such association, and the amount
the capital stock Of which each is the bona fde
wner, land generally whether such association has
pnphed with all the requirements of this act to
nttlG u 70 in the business of aDxug. and