New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-02-21
TIE NATIONAL CURRENCY BILL.
AN ACT 10 proyide national secured by pledge
Of rnd States klock. aud TO proyl. or We .noIai0n

Of United States socks, anu 10 pfoNi" ' w. sHod"iVn
~ tnSete9 bv The Senae acd House Of Re~eatanres 81
ne Uned States Of Afieren COH|e's css-mtid mot
~ he established in the TeqsutJ 0rpa'turut sepa-
"a burau which sha be charged " ho execution o. TINS
AVID ell other laws that may he a'ed by Cons .. ieeGng
issue sod regulation Of arst9nal currency sttueu 10y
United States bonds The e5ef officer OF the iaii bureau
shal he denomnaed the ontI9ueI S' e -, 9a
Treasury lie shall be- SpPoiniod by the fIesdeht on We
sd cps-nt o. the Senate aud shall hold his office fox
Che term years unless sooner removed by the Pres
shall receive annual sslay Of S5Vo0 lie shall have
eompetoat Degaty, pointed BY tho secretary whose
rowSr .nd reriorn the duties attached by law to the
Office Of Controller during vacancy in such office aud
&c N, o. clerks dschsrsc such duties he
shs direct which clerks ha be appointed aud csssil,d by
the Secretary Treasury in the provided by
lew within hNeen days irom the time Of notice OF his ep.
pon,rea the Controller shell take AID rbe The oath Of
cre rescr hcl by the Constitution aud laws OF tho United
ates he sal give tbs United Sts'es be ID in tn,
pensty Of $o' 600 with NOT less ln two responsible ree
Treasury conditioned for he aul discharge Of the duties
Of bis ciice The Depu.y Controller appointed shall also
take oath of office pescbed by the Constitution sud
eSs OF the United States and oa give like bord in the
penalty Of 800 The Controller and Depsly Coatrci or
shsi not either directly Indirectly, bs inerese. in
association ssnrg national currency under the provisions oi
SIC p Are be further enacted, Tha, 'ls Controller Of
a. Currency with the aTri3ysI OF ne Se.iy ., 5s
ofices decsipon H wh c1, with cefti-se 81 approval
b. the Secretary Of the Tressury snail he He'd IN the o 81
the Secretary OF safe with an ne @ W sus
ercupon be,one the seal cf Office 0f the Co ot o. thc
Every certificate. Assignment nn5 eonyeyan, executed by
Che CoHoles ia puf,9scGs o. cay $1,000 eJn T 90
ceved IN evidence IN an secs anu Sou's az"
all copies of papers IN the office Ct the Controller ceruhed y
r .jd s1S stv and in Ike as II cisus in.
preston su seal directly on The paper sa be a. valid as
Size A. be (aytr sasefed, That there shil be a'.
scns to the Controller Of the Currency by be Secretary o.
th Iessur, tui Die in the Treasury diac for con,
ductn le business the Currency tueau 10 winch .haI
rrroilc sGft all
>es o1d other ysusb things belonging TO HI department.
All Go,roler an Iom tins 10 time furnish The neces
s.r rrure stationery, fuel lights sud other proper
-rieucos TO- the trsnssctioa OF the saS business.
Sro 4 ind De Cg'ter enaeeG That the tenn United
States honas use& ~ his act shall b. construed TO mean
couroa and registered bonas now issued or tha may
keeser ssue Oh the fai'h Of t"e United States oy the
Secretary u ee T'ss,sT: IN PoIso:oee 81 law. g.,
number OF Pc, s0Ds. net less in Guy case than FIVE
Spc &. Aad be tJg,ne, enacted. ralt persons uniting to
SoIm association shall under tLeir hands sad sea!'.
m.aEe 2 ce-..acs.e which stall specify
Fi,s.: The name assumed by such association.
Sse.d: The aco here its operations Of discount and de-
osi, caed o. designating the State Territory
ao: end eo Tie P,f g., e @~n OF Ns:9
ol-re int. winch the shell he divided Which capital
s:ocs sh. es5 than $1,000 and in cities whoEe pop
f. oger 1000 .sFsons, the capital stock shAl not be
les 'lsu $4,000
carik Inc nsmes and Places Of residence Of the share
kOe aad tie number Of shares held ny eacn Of item
r4 TIE time when such association shall commence,
deeAta,ion At said cethca.e Is made 70 eue e
shy Iou Gvs themselves Of tine advantages Of i, act
Gns ssj certificate hs be ackIow edged before Judge Of
mel thereof certified under tue seal Of such Court Notary
shall be transmitted together with copy OF the articles
of a.socs ion which shall have been adopted 70 the Control
LEI the Currency VINO shall record ana carefully
in his ONCE Copies Of such certificate daily ce
ed by the CONTROLLER aud by mis- seal Of Office
cha lie esa and sufficient evidence IN al courts ana places
,ui ,bs United sts,es or the jurisdiction OF the Govern
wet Thereof 4 the esisee 4 such association end Of
otner s'ier or thing winch could he proved by ,be
Sc : III Jt il Jtri>,, nae,el That at least 90 per
ee,;u ,he capital O. 81 suL ci,tiou shall paid
su ,r emaoder Of tie caritL stock Of such asocsor
,h. he paid in s'aIenis OF ct least 10 per ceam each
a. eqaerty iutson. the end Of each .ucoecdint
from the timc Of the commencement Of its
iDg oeea,On. until tho whole Of the csPrsl stock shall b
pa IN r,,,,,,
or his s,gee shall s to pay Any nstalrne, s,oc
~heo the required by the foregoing section to DO pat
such delinquent shsTohodef at public on, having give
three weeks previous noce tAe'eoi in Newspaper put
citation is ocned tie located If
oS ia the eoun Were the i5csie to ang
who VII pay tno ghe.t pi,e IT,, ard nS lees An Ia
and sac any shall be paid to the delin
Qusut sha holder II 2dJeI b found VINO will pay
n sach amount due thereon to the association and
a." o't. q sdsen.sn ext ana sale the s9onn Previously
sut,eqaeusly 5e sold as tho directors may oroer
SEos inc BE- ii vTtcr enacted That whenever certif.
.a haze ben Transmitted 20 the Controller Of the Car-
reuo provided n this act aud the association transmit log
thr snail notify tAe Controller that least thirty PEI
su.L association has complied w.t. oil the provisions OF this
so required to be Piled with before such association shsl
b. the bushes: o banking and that
such association Is desous Of commencing such business tho
Controller shall Immediately proceed ia such ss he
sue association 20 ascertain especially the amount Of money
paid account q M capital stock; the and ao Of
Of each Ell the directors OF such associa
Of sll stock Of hcA each Is tue pons hie oaer
generally wheie: such association has compiled with ali
tie requirements Of this act to eIe 10 engage in the bu.i.
barking; ana shall cause 10 be made sud gttesed by
the eaths M oity Of the directors and by tbe ~
Cs-e q s1cL association, statement II the facts neces
a.. clGUe Ire Controller 20 determine Whether such ass5
cis,n l. s~iu entitled to e0neIce :he business. VI 6auk.
~ andeI TIA, act
So 10 ind Be Jurtiey enacted That t. upon careful
eSsnso9 u .ae lac, reported and Of any other i1cs
which may t. knowledge Of the Controller whether
b. .; sptcsl commission appointed by him for the
pufpOe Of inqung O The condition Of such iton
oisc Es appear thst such association l. lawfully
tiea the bu,iness OF banking tho Controller
sas give zach associations certificate undeI his hard and
SIT zeal showing Wat arch association Las comp led gith
=. tho provision. Of this AT required to be complied Win b..
fore icing entitled TO Commence the business Of bsni--
ppder -, ~ that sueb associsoS &. ."'"-- . -
san 'u'ipe'. a'so'' ana it shall be the duty Vi ,ueS
.'eeSi. raid cethcs;e 10 be pn5..sLel in some
oi4Aon located sky day. eT set tie iair
thecci Ffoeee IAst II no Ee".laPeT is pub i'hed in
Ce-:'oher Q. tle Cure ICY anal direct
&c a. AA4 he 1t JaraeI e'td That every sssociuti9
fored pursuant to tile ,royons Of tits aci lsay maze aD
com non sea-. aHd shs have succession by the
dtt.nai.d attcrs Of sscocston ana foT e period
hunted therein not however eIceens twenty years from
The Pse Of ts act by such name may make Contracts
ssd cgu.psn and defend sny court Of law or
equity a. fully % nataai psloDs snd LAY maze bylaws,
sYoTei Jy tho Controller Of tie Currency, not aconsent
as avs q ;h~ ted States the proyiion. Of This
'o - erection OF aJecors. tho Of IT, prop.
eiy ar regulation Of is aai ald OI the transfer u ia
stock nd Anavs tScary the hu.ness Of bsaAios
o. oO'sn'ns aud -lNg circulating notes IN sccofderce WIFI
We f"'sn ts scs Oy dscounlins 0ls, notes EAd other
e'S~"ets - dr5fs by receiving deposits, 10y buying aud
sr'o. vVtl Tld ,hS-r bullion. foreign coins aud balls Of
rttri - "sAlx money real aud personal security in
IRE manner specified IT, Ls sces Of association for t1-
PO'po ''Aoit-i " t. act and By rXecisng such Incl.
ss"' COVE sds - necessary CARY tuc business
E C"'s ore VI tArif lumber PRECEDENT Of such s.sJca
va sI 70 alpoint cashier such other officers and
%" hs' pOI~n may require; aud to remove such
P'''o, t1sI Officers, euo SCENTS e, pleasure aud 81.
Yous oA-f Ia tief a0d their u.ial u.iuos, m
Ia ssced iG bShkis oncs. located az IN. 10 :,