, 1863-02-24
THE NATIONAL BANKING BILL.
As Passed by Congress and
to Become a Law.
Abstract Of it's ProvisionS-..
Associations for Bank"
ing, &C., &c.


shall be established In the Treasury Depart
mtnt separate bureau, # hich shall be charged
with the execution Of this and au other laws
that may be passed by Congress respecting
the issue and regulation Of national cur
chief officer Of the said bureau shall be demo
minated the Controller Of the Currency, and
shall be under the general direction Of the
Secretary Of the Treasury. He shall be ap-
pointed by the President, on the nomination
Of the Secretary Of the Treasury, by aud with
the advice and consent Of the Senate, and
unless sooner removed by: the President, by
and with the advice and consent Of .he Senate;
he shall receive an annual salnry Of 5000;
he shall have competent Deputy, appointed
by the secretary, whose salary shall
be $3.50, md who shnll possess the power
office Of Controller during p VACANCY in such
office ia ia during bis absence Of Inability; be
ehall employ, from time to time, the necessary
clerks to discharge such duties as he shall diI
rect, which clerks shall be appointed Ind clas-
eiflcd by She Secretary 6f the Treasury In the
manner now provided by law: Within fifteen
days from the time Of notice Of his appoint
ment, the Controller shall take and subscribe
the oath Of office prescribed BY the Constitu-
tiop and laws Of fhc United States; aud he
shall give to the United States bond in the
penalty of S100,0 ,00n with not less than two
Responsible frecho1ders as suFetics, to be ap-
proved By the Secretary Of the Treasury, CON
ditioned for the faithful discharge Of the du-
ties Of bis Office: The Deputy Controller, SO
prescribed BY the Constitution and laws of
the United s4atcs, and shall give like bond
in the penalty Of $4,000. The Controller
and Deputy Controller shall not ,eitAer direct
ly or Indirectly, be interested in any associa-
ton Issuing a national currency under the
provisions Of this act.
SEC. 2. And be it further enacted, That the
Controller Of tile Currency, with the approval
ofthe Secretary Of the Treasury, shall devise d
seal, with suitable inscriptions; for his Office,
a description Of which, with certificate Of
approval by: the Secretary Of the, Treasury,
shall be filed In the office Of the Secretary Of
State with an impression thereof, which shall
thereupon become the seal Of office Of the
Controller Of the Currency, and the same may
be renewed when necessary. Every certid-
cate, assignment, and conveyance, executed
by the Controller, in pursuance Of fany author
ity conferred on him By law, and sealed with
his seal of Office, fhall be received In evidence
copies Of papers in the office of the Controller,
certified By him and authenticated by the
said seal. shall in all cases be evidence equally
and in like manner rs the original. An i'm
preston Of such seal directly on the paper
shall be as valid as ifmade on wax or wafer.
d.
there shall be assigned 10 the Controller OF
the Currency By the Secretary Of the Treasu.
~ suitable rooms in the Treasury building for
conducting the business Of the Currency bu'
rcAu, in which shall be safe and secure fire.
proof vaults, in which it shall be the duty Of
| the Controller to deposit and safely keep all
| the plates mud other valuable things belonging
| to his department; and the Controller shall
| from time to time furnish the necessary furni
ture, stationery, fuel, lights, and other proper
| conyeniences for the transaction Of the said
business,
term "United States bonds,H us used In this
net, shall be construed to mean all coupon
| and registered bonds now issued or that may
| hereafter be issued on the faith Of the Unitet
States by the Secretary Of the Treasury IL
pursuance Of law.
sociations for carrying on the business Of bank
ing mny be formed by any number ofpersons
not less in any ease than five.
SEC. 6. And be It further enacted, Tint per
sons uniting to form such an association shall
under their hands and seals, make ccrtifcat
| which shall specify
| Tiryi. The name assumed By such assocla
tion.
Second The place where It's operations 9
discount and deposit Arc to BE- carried on, dc!
ignating the State. Territory, OF district, an
also the particular city, town, Or village.
| 1H'f0. Ing amount y! ~ caliitA1 stuch, An
1nc; nnmper ol snaeea lnlu "uleI w sau!
be less than $4,000; and In cities whose pol
ulation is over 10000 persons, the capitl
stock shall not be less than 800, COO.
Fourth. The names and places Of rcsidcnt
OF Inc snatehoiuer6, auu lue nuluoef u snait
hela ~ easn T; o. PIN mem. H. o,, zao,,+;o .,,,
fy.n. lne tlae "ne'' 7neA "eooe'A'4on en0
Si1th. A declaration that said certificate
made to enable soen persons 10 a'ah lnen
selves OF tne anFaniagcs u LUIS NY.
, Inc sa1a cerlneaae suait " ackuo"leuE' ~
pslore LIME VI so,n1 Gouss ~ .sGIuro ~
no1ary fupnc, ana he ny achaom ~ ehT miehsn1 sTaC
| thereof certified uaaer me seq o. sucn a,' Con
, OF Notary, and shall be transmitted, togeth
with a copy OF me art1cles o1 assocla1l' ~
: which shaH nave oeen aaoptea, 70 Tue ~
trouer OF the currency, VINO snali [eeoFu ~
carefully preserve ine same IN ms onlt
Copies OF such ccrtlncate, guy cesuaeo
the Controller, and authenticated ny.Ms st
OF once, ehall De iegal anu suIc'ent e11aJ. .s,4
sin all courts ana places W1tnan !ne onls
States, or ne )urlsdiction 9! Tue aoseanMe
thereof OF Tue exstenee u eucn Issusi.i,t ,,s
anu OF every otner matter Ut .nlns -.
J. conid PC pIoseo ny tac pfouuF'1on VI
l. or1g1na1 eefIlaGate; ..h onootoa That
Ia. ao f. nu H;rn, nI IL ~ 1ho canits1 stocS
u leAst ~ pel Ceu.lH " ~ Il, - 9ba Z;
d snen assoclAtlon enan oe Pttn ~ haat;1 h1 a
Is u tne eoMnencensnt M VI - f n;taf ~ ~
ness, anu tuc 1gnnanu9i " ~ t". o..
Of sacn assoelatioq g saaal ~ paa a.dh IL tnst am
st mems OF at least ~ pr Gensam Gatn on :,
%hG,e 10 ~ one Snstament
- inc cnd Of eacn succeeding MY 9t4a 4uAtns r.
the time Of the commencement OF Its bank
10 opcfntions, untA the "noleo VI lueeaplIA sl'
In shall oe paid u. r,,...r,
SEC. .. ana DC II lai1nef e1aGtea, tAa1u
Ps shafGnoloel nts ~, ~ paR
lnstalneni on me stoch "aGu ~ ~ s1mG ;i =
" quircd By the foregoing sectlon TO De PAID
~ directors Of such association may seli
ae stock held By such delinquent snafenolde
ce public auction, having gwen 1hree wee
at previous notlce tnsreo1 N ne"spapes
he ,',n.a tha s6csatinn ia jocafed r. tha so
belocatea in a CITY, and if7not so located, t
IN n newspaper printed or OF genera cifc1
tton, IN the county where 1ne same 10 local
TO any person who VIII pay the highest P
therefor, and not less than tue amount tnen
thereon, with the expenses Oh advertising
!, sale; aud the excess, II any, shall De paid
- the delinquent shareholder. II no bidder
Gu be found who will pay for such stock
&c, ! amount due thereon to the association,
ro- the cost Of advertisement and sale, the amo
es : previously paid shall be eforfeitcd to the q
=. citation, and such stock may subsequently
49, SOLD as me dlese1ofs may 9toef: y
be whenever certlheatG shall nave peen u
ct, nrnriJe1 - IN e th}s l ant and ~ ths nssoc;a
re, iransmIttipe the same shall notify the {
or trol1er that 1t least thirty per centum
en stoek nas Geen pa eais as With
1no the provisions OF this Get required to 20 6
lily piled With before such a association lat shall all
ION auanizeu - ~ e.,a1e assoc,at;o,, T. dss;
Ju- oa1hins, anu .na. h,,s;,,osa t'a Tontr
y! CutuMeuStne 1ueo ost4I9s, - s-S No11.A ~