Evansville daily journal. (Evansville, Ind.) 1863-1866, 1864-07-20
OFFICIAL.
LAWS OF THE UNITED STATES
Passed al the first Session Of The Thirty
eighth Congress.
TPuBLIo No. Sc I


AN ACT to provide national currency, secured
BY pledge Of United States b. nds, aad to pro.
vide for the circulation and redemptfo the reof
Sec. &c. Aad BE- Il farther enacted, That no asso
eiation shall at any time be indebted, or In any
way liable, TO an amount exceeding the amount Of
hs capital stock such time actually paid In and
remaining undiminishsd by los es or otherwise,
except os the folio wing accounts that is TO say;
First. On account Of Its notes Of circulation.
bccc d. On account Of moneys deposited with
or collected by. such association.
Third. On account OF bills of exchange or drafts
drawn against money actually ON deposit to the
credit Of such association, or due thereto.
Fourth. On account Of liabilities to its stock
hslders for dividends and reserved profits
Sec 81 dad BE- u further eHaetal, That ne asso.
citation she'll either directly Indirectly, pledge
or hypotheeate sny OF its notes Of circulation for
the purpose OF procuring money TO DO paid in on
It's capital stock, or to be used in It's banking
operations or otherwise; nor shall any associa-
tion use Its circulating notes, any part thereof
In .ny manner or form, to create or increase its
capital stock.
SEQ. IS. And b Il further saaessf. That no asso-
ciatiou, or any member thereof, shall, during the
time II shall continue Its banking operations
withdraw, or permit to be withdrawn, eth er in
Term 81 diEidsnds or otherwise, any portion Of its
sApiai. anu II loasss shall at any time have been
sustained BY any such association equal to or ex-
eseding Its undivided prOhts then on hand no
Civ iusnd shall be made and no dividend shall ever
- nads oy any association, while IL shall co Ne
tts baaking opeT stioas, to amount greater than
tts nett preAts then hand, dedneting therefrorn
fss losses and bad debts. And all debts due to any
ASSOCIATION, on which interest IL past due and nm.
pais for period Of six maaths, ualsss the sama
shall DO well scared, and shall be in process Of
eollsction, shall be considered bad debts within
tas msaning OF this act: Provided, That nothing
In "a section shalt prevent the reduction Of the
capital stock Of the association under the thir-
Ssenth section sf this act.
Sc :. 20. Aad b Il farther enacted, That no asso.
citation shall Al any time pay out on loans or dis
counts, or In purchasing drafts or bills of ex-
ehangS or IN payment OF deposits, or In any other
node y or put in circulation the notes Of any
bank or banking ssseci ,tion which shall not. az
S1y snch time. ls n ceivt at par on post aud
in payment % debts sy the association o paving
out or circulating such notes; shall Il < now.
iagly pay cat er pat in circulation a y notes is
sued By any baBk or banking association which at
tns tnav u such Pc lug cut or putting in circula-
sa Is not rsdeenling is circulating notes in law
tnl n Sney OF the Uuited 81 ts.
Sec. 20. lad Be afsrtAer enacted, That the presi.
osnt ana cashier Of every association shall cause
te % Kept at all times full and correct list Of the
n ae aud residences Of all the shareholders in
me association, and the number of shares held by
each, In the oGee where It's bu. insss Is transaeted
sun INST shall Be subject to the Inspection of
'"e snat eholuers aud creditors of the assoeia-
nnds' snS emeers authorised to assess taxes
S $50 Au.horlty, during business hours of
each day IA which business my b. laraily trans
- ana copy ofsueh list, on the nrst Monday
o. ~ y In each year. verified by the oath of such
president or cashier, shall he n'i,,i a. a.
Comptroller OF the Currency ~ '-'
Sec. Al fad Be n fssrtAsy saacsei That tha ri.,.a
- 4@a otes 20 DC procured by the Com hfrollar
81 the currency for the printing Of such eirrn
laung aotes shall remain under his eoatrol ana
direction, and the ex enses necessarily inenrro5
n sxscniiag the provisions Of this act resnssiin
ths procuring Of such notes, aud all othsr sx
psnsss OF the bureaus shall be paid out of the nro
eeeds OF the taxes or duties hereafter 10 h.
assessed on the circulation, and collected from as
soeiations organized under this act And in lieu
81 All existing taxes, every association shall nav
20 the Treasurer of the United States, in the
months Of January and July, duty Of one half
o. the per eentum each half year from and after
tAe nrst day Of January, eighteen hundred and
sky -tour, upon the average amount Of its notes
u circulation, and q duty Of one-quArter of one
per centum each half year upon the average
smoant Of its deposits and duty Of one-quar-
sSr OF one per centum each half year, aforesaid
90 the avarags amount Of its capitAl stock
ssyond the amount invested in United
SsAtss bonds. ami ia case Of default IN
s'e payment thereof by any association, the
duties Aforesaid may be collected In the manner
psotded Tor the collection Of United States duties
% otner corporations, or the Treasurer may re-
serve the amount Of said duties out Of the interest
ee u may become due, on the bends deposited
with him BY such defAulting association. And II
snail De the duty OF each association, thin ten
days from the hrst days of January and July OF
each year, TO m Ike return under the oath Of its
president or to the Treasurer Of the Unit.
States, in such form hs may prescribe Of The
average amount Of its notes in circulation aud al
ths average amount Of It's deposits ana Of ths
average amount Of its capital stock, beyoud tbs
amount invested in United States bonds, for ths
six months next preceding said first days Of Jan.
sAry aud July a. aforesaid and in default OF such
Sea1xn, and for each dstAat thereof Zach default,