Nebraska advertiser., 1863-07-30

notes engraved aud printed after the smilitnde o.
any notes Issued as aforesaid with intent to use
such blanks, or cause or suffer the SANE TO be used,
IN FORGING or c0untsrteitiug any Of tie notes issued
as Aforesaid, or shall have Ia his custody or posses
sion any paper adapted to the making o. such notes,
and similar 70 the papsr upon which any such notes
shall have qeen issued with intent 10 use s0sh pa
1 per OF cause or suffer the sEne to be used in foTgo-
ing or eOonterfeitiHs any of the notes issaai as
aforesaid. every such perscn. being thereof convict
ted bv due course Of laws, shall be sentenced 70 Be
imprisoned and kept to hard labor for a tern not
less than five nor mpre than fifteen years, and Hned
in q sum not exceeding one THOUSAND dollars:
See. 5e. And be il further enacted; That suits,
actions and proceedings hy and sghist any GssOcis-
ton this act Eay be bad IN any circuit. district or
territorial court ofthe tinted states held within
the district in which such association may be estab-
lished.
Sec. 60. And be il further enacted, That it shall
be the duty Of the comptroller of the currency 10
report annually to Congress, at the commencement
of rs session
First. A Summary of the state and condition Of
every association fron whom reports have been re-
ceived the proceeding year, at the several dates to
which sush reports refer with an abstract Of the
whole amount Of banking capital returned By them
of the whole aialunt Of their debit and liabilities
the amount Of circulating notes outstanding and
the t0tRl amount Of means ana resurees, Specifying
the amount Of spe;ie held By them at the times Of
their several returns and such other information In
relation to said associations Is in nis Judgement,
may be useful.
Second. A statement Of the associations whose
business has been closed during the year, with
amount Of tbeiI circulation -redsenea, and the
outstanding.
Third. To suggest any amendment to the laws re-
latIVe to banking by whi5h the system may Be i'm
proved, and the security Of the bill holders and de-
pOsitors may be increased.
Fourth. To report the nsmes and compensation
OF the CLERKS employed by him end the whole amount
OF the expenses OF tbs banking department during
the year; and such report shall be male by or be-
for the first day Of December in each year, aud the
usual number Of copies for the use Of the senate and
house and one thousand copies for the use of the
Department, shall bd printed by the public printer
and in readiness for distribution on the first meet
ing Of congress.
Sec. 81. And be it further enacted, That any
banking association OF corporation lawfully in ex-
istence as a bank Of circulation on the first day of
January A. ID. eighteen hundred and sixty three,
organized in any state, either under a special act of
Incorporation or a general banking law may, at any
time Eithin-years after the passage Of this act be-
come an association under the provisions of this
act. but in such case the certificate of association
provided by this act shall be signed by the directors
OF such banking association or corporation and in
addition to the specifications requiree by this act,
specify that such directors are authorized by the
owners OF two thirds Of the capital stock Of such
banking association OF corporation to make such
certificate Of association, and such certificate Of as
ISOLATION shall thereafter have the same efest, and
the same proceedings shall be had thereon, ASH
provided for as to other associations organized IN
der this act. And such association or corporation
tberaafter shall have the same powers and Privileg-
es and shall be subject to the same duties, response
bilities. and rules, In all refpeets as is pretcribOd in
this act for other associations organized under it,
and shall be held and regarded as an association
under this act.
Sec. 81. And be it further enacted. That any
bank or banking association, authorized by any
State law at the time of the passage of this act, and
which shall be the holder and owner Of United
States bonds to the amount of fifty per centum Of
its capital stock mry transfer and deliver to the
treasurer Of the United States such bonds, or any
part thereof, in the manner provided by the act; and
upon making such transfer and delivery; such bank
OF banking association shall be entitled to receive
from the comptroller of the currency, circulating
notes, as herein provided, equalin amount to eighty
per centum Of the amount Of the bOndf so transfer
red and delivered.
Sec. o.. And be it Further enacted, That upon
the failu4e of any such State bank or banking assO-
citation to redeem any of its circulating notes issued
under the provisions of the preceding section, the
comptroller of the currency shall when satisfied that
such default has been made, and within thirty days
after notice Of such defanlt, proceed to declare the
bonds transferred and delivered TO the treasurer,
forfeited to the United States, and the Same shall
thereupon be forfeited accordingly. And theTeup-
on the circulating notes which have been issued by
such bank or banking association shall be redeemed
and paid at the treasury Of the United States, Ia
the same manner as other circulating notes Issued
under the provisions Of this act are redeemed and
paid.
Sec. g.. And be it further enasted; Tn at the
bonds forfeited as provided in the last preceding
section may be cancelled to an amount equal to the
to the circulating notes redeemed ang paid or sneb
bonds may be sold under TIE direction of the Sc
cretary Of the treasury, and after retaining out Of
the proceeds a sum Sufficient to payt he whole amOut
of circulating notes for the redemption of which
such bonds are held, the surplus, if any remains,
shall be paid to the bank, or banking association
from which such bonds were received.
Sec. So. And be it further enacted, That Con-
gress reserves the right at any time to amend alter,
or repeal this act.
APPROVED, February %, 1858.