Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1864-12-10

bsn - eeka ess1eace e a~A2 kas 10 Sua-
AID the kssvi.eay t.kiae. s~e-iviag- s-sers-
ing. q chasying q rate Il isseresc gre.fs4
sAaa sfose.sid shall be heA md s1jsAgrA q
fsr3rifsre II the eueis< insesess whirA the
sose, blL q o,hsr ~sidence a deat carris
vish it, OF which has br~n agreed 10 be paid
thereoa- And in case . greater rate oi inter.
est has been paid. the P+rson OF persoos pay.
ing the ssae. ss their legal rprsseatatives
nay rscossr back. IN any action of debt
twice the amount Of the interest thus paid
from he association taking CT receiving the
same: Prcrided. That such action is com.
menced within two years from the time the
usurious transaction occurred. But the pur.
chase, discount, o. sale Of bona fide bin oi
exchange, payable at another place than the
place Of such purchase, discount. or sale. at
not more than the current rate of exchange
for sight drafts in addition to the interest,
shall not be considered as taking or receiv-
ing greater rate Of interest.
Sec. 81. And be Il .fxrklcr enacted, That
every association in the cities hereinafter
named shall, at all times, have on hand, in
lawful money Of the United States, an amount
equal to at least twenty-five per centum Of
the aggregate amount Of it's notes in circu.
lation and its deposits; and every other as
sociation shall, at all times. have on hand, in
lawful money of the United States, an amount
equal to at least fifteen per centum Of the ag.
gregate amount of it's notes in circulation,
and ofits deposits. And whenever the law.
full money Of any association in any of the
cities hereinafter named shall be below thu
amount oftwenty-fve per centum of it's cir
culation and deposits, and whenever :he law
full money of any other association shall be
below fifteen per ccntum Of it's circulation and
deposits. such associations shall not increase
its liabilities by making any new loans or dis
counts otherwise than by discounting or pur-
chasing bills of exchange payable at sight. nor
make any dividend Of its profits until the re-
quired proportion between tue aggregate
amount Of its outstanding notes Of circulation
and deposits and its lawful money of the
United States shall be restored: Proridcd,
That three .fifths of said fifteen per ccntum
may consist of balances due to m associa-
ton available for the redemption Of its circula-
ting notes from associations approved by the
comptroller of the currency. organized under
this act. in the cities of Saint Louis, Louis
vile, Chicago, Detroit, Milwaukee. New Or
leans, Cincinnati, Cleveland, Pittsburg, Bal.
timore. Philadelphia, Boston, New York, Al
bany. Leavenworth, San Francisco, and
Washington City: Providcd, also. That
clearinghouse certificates. representing specie
or lawful money specially deposited for the
purpose Of any clearing -house association,
shall be deemed to be lawful money in the
ne l~1@~~srr -
such clearing house holding and owning
such certificate, and shall b. considered to be
part Of the lawful money which such asso.
citation is required to have under the foregoing
provisions of this section: Pr0ridcd, That
the CITIES Of Charleston and Richmond may
be added to the list Of cities in the national
associations of which other associations may
keep three.ffths of their lawful money, when
ever, in the opinion of the comptroller of the
currency. the condition of the southern states
will warrant it. And it shall be competent
for the comptroller Of the currency to notify
any association, whose lawful money reserved
as aforesaid shall be below the amount to be
kept on hand as aforesaid, to make good such
reserve; aud if such association shall fail for
thirty days thereafter 90 to make good its re-
serve oflawful money Of tho United States,
the comptroller may, with the concurrence Of
the Secretary the Treasury, appoint re-
ceiver to wind up the business Of such asso-
citation. as provided iu this act.
Sec. 80. And be It further enacted, That
each association organised iu any Of the
cities named in the foregoing section shall &C.
lect. subject to the approval Of the comptrol-
ler Of the currency, IN association in the city
of New York. at which it will redeem its cir
culating notes at par. Aud each Of snch a..
sociations may keep one-half Of ito lawful
money reserved 10 cash deposits in the city Of
New York. And each association not organ
lied within the cities named in the proceed.
ing section shsll sslsct. subject to the appro-
val Of the comptrollrs Of the currency. IN as-
sociaiion in either Of the cities named in the
preceding section At which it will redeem its
eir-ulating notes It par, and the comptroller
shsll give psb1ie pstice q th~ names of the
saseciafisas - aslecsrd 1t which redeapeioss
arc to Be made By the respective asasciaiinas.
asd Of any change thas may be made Il The
ssssria,i . at which the nos-s a any asso-
cisfis. ars rede<1ea- 1f any asssciafisa
sl.sn Salse nske tie sraecsisa q - r~asra
iss nss~s - alsrssaic. tA< esopsssR~ q shs
ewrr.ey nay. upaa reeri~irg ~sspfses~y ev-
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hz1ev - ra~<s - eisruineing sss0 - -
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