Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-07-30
aailg gutRlIIgenfer,
OFFICIAL.
LAWS OF THE UNITED STATES.
Passsd at the FTrst Session Of the Thirty
eighth CoH0TeGs.
IPusL1c-No. ss.1

s,soI ~. United states bonds, and provide
ioT me circulation and redemption thereof
Ser. q. And be it further enacted, That upon the
uliS.d in the tgreRoing section the association
~ ng the same shall be entitled 70 IecelFefron
tLs d nUtrolIer Of the Currency circulating notes
- an rent denominations, in blank II gtstered and
counlersgned as hereinafter Rroyidea t9u sI,n1
anvuLT u ninety per eentum OF tue S
J,IiVeTed put LOT exceeding ninety per eentum q
lie amount Of said boDds at the PAR value thereof
Il beaTfnR interest at y rare MT lesa ttan nVe per
c.,,ts,, enl at no time shall the total amount OF
Sueh notes issued 70 any such association, exceed
the amount a. such time actually paid In oil It's CAPT
Sec 81 And be it further enacted That the 81 tire
amupI OF notes for circulation 10 be Issued under
tue act shall not exceed thee hu ndred millions OF
dIlars In oruer TO furnish suitable notes for crs
culAtion, Comptroller Of toe Currency IL hereby
authorized aud required, under the direction o. me
Secretary OF the Treasury TO cause plates Anu des
to he en- rAYsd in the best manner TO guard against
@ unIerIeitng and fraudulent alterations, aud 70
have printed theIefrC and NUMBERED, such qpantl'
" Cfcirculating notes, 10 bIauk of the denoDina'
tiouH OF one dollar, two dollAIHs three dolare nFe
dollars ten do'T twenty dollar MY dSS, ,o one
ana dollars, may be required 70 supply, under
this act the associations ent tied To sane
which notes shAl express upon thsir ace tnat
are srcuTed by UnieI Stairs bonds, deposited with
tue OF United States by the written or
epRraVtd signatures Of The Treasurer and
and by the imprint of the seal OF the Treasury; and
shall also express pom their face the promise OF the
association receiving the same TO pay on oenanu'
Presids.t AID Cashier. And the said notes shall
bear such devices and such other statements and
shall be in such form the SecretaFy OF the TreaA
Eury shall, by regulation, directs Provided, That mot
than one-siKth part Of the notes furnished 70
an association shall be Of less denomination ihHn
I'VE dollars that after specie payments snail DO
Fesua ed association shall furnished with notes
OF less denomination than hTe djlALs.
rec %. And be II further enacted That AFTER any
,uch asslcration shall have cansed Its promise TO
pay such demand TO be signed by the Presi'
dsnt or Vice President aud Cashier thereof in such
m. tn ma k,t en-
payable de and at its place OF business, such
association Is hereby authorized 70 Issue and eircu-
late the same money; AID the same ahau be re
ceiVed par in all parts Of she Uuited States Ia pa
neut OF taxes, excuses, public lands and all other
dues - the United States, except for duties on i'm
POI u.s. ALEC all salaries and other debts and
DEMANDS ng by the United States to tDdividuals,
Corporations aud associations within the, United
States except Interest on the public debt and In re
demptiUn Of the national curren y And no such
ASSOCIATION shall issue pot notes or any other notes
- circuate money than such as are authorized ~
the JF-gOing provisions of this act.
sec. "a Aud be be- 1t further enacted, That It
shah duty OF the Comptroller u the Currency
&c receive Worn-out or muTiated circulating notes
issued by any such banking association and also on
due proof Of the of any circulating
notes. deliver in place thereof to such association
other blank circulating notes 70 an equal amount
And such WORKOUT or mutilated nUtes, after q
ms.sorandum shall have been entered in the proper
books, in accordance with such regulations - may
be established by the Comptroller, as well all
circulating notes which shall have been paid or sur
rendered TO cancelled, sha be burned 70 ashes in
of four persons to be appointed by the
secL etary OF the Treasury one by tue Comptroller
The Currency, by the Treasurer of the United
States and by the association, under such regu-
lA,ions rs the Secretary Of the Treasury may pre-
scribe. Aud certificate Of such burning, signed
by the parties so appointed, shall he made 10 the
book, of the Comptroller and duplicate thereof for
Varted 10 the association whose notes are thus can
,elled.
sec 25 And be It further enacted, That It shall |
be this DUTY of Svery banki association hay ng |
bonds deposited in the office the Treasurer of the
United State Oftener in each fiscal year, and
at such time tunes curing The ordinary buainesI
houGs said officer or officers may select to exam
Inc and the bonds 50 pledged with the books
of the Conn., nolIer and the accounts OF the assoca.
ton and, IL found correct, to execute to the said
Treasu or certificate SeItipE forth the different
in the possession and custody Of tine Treasurer
at the date OF such certificate. Such examination
ito du appointed in writing for that purpose, |
whose certificate before mentioned shall be OF like
force and validity If executed by such President
or OashIer and duplicate signed by the Treasurer
shall be retained by the association
Sec. 20. And be further enacted, That the binds
transferred aud deposited with the Treasurer of
the Unite, States hereinbe ore provided by any
banking Hssocat for he security Of Its circulating
notes. shall be held exc usiyey for that purpose,
until such notes shall be red emed except as pro-
Vided in this act; but the Comptroller of the Cur
rency shall give to any such banking association
own use the the bonds hich It shall have
so transferred to the Treasurer; but sueh powers
shall become ncp .ratVe whenever such banking as
hUeiAtion shall redeem its circulating notes
afJreaAia. Whenever the market or cash value Of
any bonds deposited with the TreAsurer Of the Uni
teS States, Aforesaid shBl be reduced below the
AmounE OF the circulation issued for the same, the
Comptroller of the Currency is hereby authorized
to demand and receive the amount OF such deprecf-
alton In other United states bonds at cash value or
In money, frUm the association ceivlng bills,
70 be dep sited with the Treasurer Of the United
Stat As long such depreciation continues. Aud
IaId Comptroller, upon the terms prescribed by the
Secretary Of the Treasury, may permit an exchange
to be made Of any OF the bonus deposited with the
Treasurer by an association for other bon, Of the
United STATES authorized by this act TO be received
as seeuiity Tor circulating notes, If he shall be Of
opinion that such an HchAnge can be made without
prejudice 10 the United stATeF and he may direct
the return OF any Of said nds TO the banking
ISOLATION which transferred the same in 9 Of not
less than Thousand do Ia ., upJn the surrender
to hun and the cancellation OF a pToportionAte
amount Of such circul ating notes: Provided That
the Remaining bonds which shall have been trans
feIred by the banking association Offering surren
der eircu Ating notes shall be equal to the amount
reqnUed toi the circulating notes not surrendered
By such banking association. and that tn OF
bonds in the hands Of the Treasurer shall not be d.
minished below the amount required be X pit on
deposit With him by this act: Aud provided That
there shall have been by such association
to redeem It's crcu atng notes and other violation
bJ such ociation OF the provisions Of this act aud
that the market cash value Of the remaining
bonds shall not Ne below the amount required for
the circulation issued for tbs Eame.
Sec. "a. And be It farther enacted, That 4. ShAn
be unlawful for any officer acting under the provis-
isons Of this act 70 cOuntersign deliver 10 any
assoeiato on or TO any other company or person. any
circulating tea contemplated by this act except
as heI einbefore provided aud ia accord nee with the
true intent and meaning OF this act. And any ON,
Ger who shall violate the prOyisons Of this section
shall be deemed guilty Of . hikh misdemeanor, and
on conviction thereof shall be punished by Ane not
exceeding double the amount counters gued and
delivered, and imprisonment not less than one year
and not exceeding hteen years, ut the discretion Of
the court In which he shall be tried.
Bee Is. And be Il further enacted, That it shall
be lawful TOR any such association 70 purchase, hold
and convey real estate IS follows:
FIRST. Such bhall be necessary for Its immediate
accommodation IN the Transaction Of its busines..
Second Such a. shall Dc mortgaged to &c in good
faith BY way Of security for debts previously con-
tTaeted
Third su'h as shall be conveyed to it in satsfac-
ton OF dtbts previously contracted In Of its
deal nEs.
Fourth. sueh as It shall purchase at sales under
Judgment, DEGREES or mortgages held by such assot
eatou shall purchase to stcure debts due to said
association.
sueh association shall not purchase or held real
estate in any other case or for any other purpose
than specified in this section Nor shhll it hold
the possession OF any real estate under mortgage
hold the tide and pOsseIon Of any real estAte pnr