Smyrna times., 1863-05-21
OFFICIAL.
LAWS OF THE UNITED STATES,
Passed at the 1aird Session Of the IHirfy .Seeenh
Congress.
TPUBLIC-Nu. l9.1

lPUBIIc-Nu. 191
Vast to provide national currency, secured BY
pld re of United States stocks, aud to provide tor
the circu ltion and redemption thereof
Be IL tnqcted by thc Senate and House of Repre-
s.ntatices of the Uaied States of Anerica in Com
sss assembled, III L there shall be established in
th. rrea ury DapIIt ncnt sepcrate bucreIu, whIc.
shall be charged with the execution Of tins and
other laws that NAV b. passed by Congress respect
az the issue and regulation of national currency
scared by the United St ties bonds. The chief Of
er Of the said bureau shall be denominated the
C,mpeirOllcr of the Currency, and shall be under
the general direction OF the Secretary of the Treasu
~. He shall be appointed by the President on the
nomination of he Secretary of the Treasury, by and
with the advice and consent OF Il Senate, and shall
hold his office for the term of five years unless
removed by the President, bv and with the advice
and consent of the Senate he shall receive
mud salary of five thousand dollars he shall have
competent deputy, appointed by the SccT, ,tIry, whose
salary shall be thousand five hundred dollars,
and who shall possess the power and perform the
duties attached bylaw to the office Of Comptroller
during vacancy in such office and during his ab-
sceace iRabiiity; he shall employ, from tiue to
time, the necessary clerks 90 discharge such duties
as he shall direct, which clerks shall be appointed
ana classified by the Secretary of the Treasury in
the manner provided by law. Within fifteen
days from the time of notice of his appointment the
Comptroller snail take and subscribe the oath Of
Nes prescribed by the institution and laws OF the
United States and he shall give to tae United States
u bond in the penalty OF one hundred thousand dol
aarS, with not less than responsible treehDders
as surties. to be approved by the Secretary Of the
Treasury, conditioned for the faithful discharge OF
abe duties Of his Office. the Deputy Comptroller
aPpsinsd shall also take the oath of office prescribed
by tbs Constitution and laws Of the United States,
and shall give like bond in the penalty of fifty
Thousand uo,lars. The C0np,roller aud ID putty Comp
her ind ha in
'ied in any ,ssociatinn issuing national currency
under the provisions of this act.
> cttIn =. And te it fHrther enacted, That the
Comptroller of the Currency. with approval of the
Secretary of the Treasury; shall devise seal, with
suit ible insert tons, for his otire, Description OF
which, with certificate ofappro.a by the Sccretlry
of the Treasury shall be filed in the office OF
the Secretary of State with impression there
CT, which shall thereup0n become the seal of of
flee of the Comptroller of the Currency, and the
sane may bo renewed when necessary. Every GER
hhcafe, assignment, and conveyance executed by the
comp lrulier, IN pursuance OF anY gulhprItT der
red Oh him By law, and sealed with his seal Of ollie.
shall be received in evidence in all places and court,
wiatsocver and ali c,pes Of pIprrs in the Oif:e ui
the Comptroller certified by him and authenticated
by the said SEAL shalt in all be evidence equal
aud IN ike manner as the original. An impression
OF such seal directly the paper shall be as valid
as II made wax or wafer.
Section 3. And be 1t further enacted That there
SHALL be assign ID 10 the Comptroller OF the CnrTenc,
BY the Secretary of the Treasury suitable il
the Treasury building for cordnctin. the businc j.,
oI tn currency bureau, in which shall BE- sif' an.
sssnre ire-proOf vaults, in which shall b III daily
OF The L 'InProller to deposit and safely keep All In
.tes and other valuable things helongiag o his de
Psrtmcnt; and the Comptroller shall from t,mt I
me furnish tho necessary furniture, Statncry, fuel
hight, and other proper cOnvenisnces for the tr.n.
Action of the said business.
S 'ctIoa 4. And be IL further en0eted, That tb
term "United States bonds as used in this aci sha
be construed to mean all coupon and registered bond
now issued or that may hereafter be issued on IN
faith Of the United States by the Secretary of III
Treasury in pursuance of law.
Section 5. And be II further enacted That assoc
stIons Tor carrying on the business of banking ma
be Eorned 10y any number of persons, not less
aiy case than hve
Section 6. And be il further enacted, That person
uniting to form such association shall, undt
their hands and seals, make a certificate which sha
specify
Frst, The name assumed by such associati N.
Second. The place where its operations Of discour
and deposite are To be carried on designating ii
State, Territory, district, and also the partlcala
city, town village.
Third The amount Of It's capital sock, and Ii
number Of shIres into which the same sslall he div
ded which capital stock snail npt be less than FIJI
thousand dolldr'; and IN cite, whose pnpul t,ion
be ls's ihin oue hundred thousand dollars.
Fourth. The names and places of residence
tis shareholders, aud the number of .hures held
each of tIe.n,,
Fifth. Tie time when such association shall cor
mence.
Sixth. dcclartion that said certificate is ma
th'nable snch persons TO avail themselves of Z
advantages of this act.
ihs said certIiicate shall be acknowledged bcf,
Ja1ge oil some csuFt of record nstIry pub
anl tho acknowledgement thereof certified the g.
OF Fuch court or notary aud sh III be transmitted
getler with a copy of the articles OF associ .ti
wnIeh shall have been adopted To the COMPTROLLER
the Currency, who shall recurd and carefully d,
ssfVo the sImc ia his Office. Copies Of such crrti
eat. duly certified by tile Comptroller, and autheu
cate BY his seal OF oice shall be legal and su .ie
tsidence IN all courts and places within the Uni.
STATES, or the lursdicton OF the Government thore
OF 'ne existence ct such as, s,ocation, and Of eve
siher matter or thing which could be proved by .
PFodsct'on Of the original certificate.
SecuJn !, And be Il further enacted That Of LEI
snirty per centum Of the capital stock of such as
s'aaoa iiall be paid in at the time of the commsn,
mena OF It's banking business, and the remainder
IS capital stock OF snch association shall bo mid
s.s@uments Of Mt least ten per centuin each ON ,
afiount to which the association shall he Ii,
frequently as one instsllment at the end
-. seeeoing Two months from the time Of 1
49,. "S oi ITS Banking operations, until
so's oi the capital stock shall be paid in.
o'Suon Q. AHd be IL further enacted Th,, ;r n
afsaoidefs' or his assignee, shall iail TO nav :
,1s'ai'sont on the stock when the sam, IL r',n;,
y the foregoing section to be paid tho directors
,.n ao association may sell the stock held bv snch
s,alaent shareholder, at public auction. bay;or a;'
aaas. weeks previous notice thereof in no,
he e;,x published aud Of general circua,oo
DO ooa,ss e's the association is located, if the sa
thrn " city, asd il NOT so Ioea,
ers ,,., ~ a newspaper printed. a, Of ~eas ~ano
ios,y aors. % S .as county where the same Is ioe,,
'ei, and not less than the amnuasssit price the
ne expenses Of advertisement az aae There
- II any. shall be paid 20 th. SsI,n"; .ale; and
sues AZ no bidder can be fousd who Win sa
,ss..sss soek tho amount due thereon 10 a., pay
so and such stock may sabssqasntIy H. .as arsO'
s'rsesors mar order. "i'e"'y se spid as
'oa ro,'s !, Asd se q farther enacted. Tina, xh
ss'''assis shan have boon ira,lsn,ittod ID to ."