The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1866-12-13
DECEMBER 13, 1866.

Sec. II. And be it further enacted, That the
! entire amount of circulating notes to be issued
| under this act shall not exceed three hundred
| millions of dollars. One hundred and fifty mill
| ions of which sum shall be apportioned to asso-
Citations in the States in the District of Columbia,
and In the Territories, according to representa-
tive population, and the remainder shall be ap-
portioned by the Secretary of the Treasury among
associations formed in tine sever i States in the
District OF Columbia, and in the Territories, hav
ing due regard to the existing banking capital,
resources, and BUSINESS of such States, District,
and Territories
Sec 49, And be it further enacted That in or
der to furnish suitable notes for circulation, the
comptroller of the currency is hereby authorized
and required, under the direction of the Secretary
OF the Treasury, to cause plates to be engraved
in the best manner to guard against counterfeit
ing and fraudulent alterations, and to have prin-
ted therefrom, and numbered, such quantity of
circulating notes, in blank, of the denominations
of five dollars, ten dollars, twenty dollars, fifty
dollars, one hundred dollars, five hundred dol
lars, and one thousand dollars may be required
to supply under this act the associations entitled
TO receive the same; which notes shall express
upon their face that they are secured by United
States bonds deposited with the treasurer of the
United Sta es, and issued under the provisions of
this act which statement shall be attcsted by the
written or engraved signatures OF the treasurer
and register and by the imprint of the seal of the
treasury; aud shall also express upon their face
the promise of the association receiving the same,
to pay demand, attested bv the signatures of
the president, vice president. and cashier; and
the said notes shall bear such devices and such
other statements, and shall be in such form,
ton, direct
Sec. 10. And be it further enacted That the
plates and special dies to be procured by the
comptroller of the currency for the printing of
such circulating notes shall remain under his
troll and direction, and the expenses necessarily
incurred in executing the provisions OF this act
respecting the procuring of such notes, shall be
audited and paid contingent expenses of the
Treasury Department.; and for the purpose Of re-
| imbursing the same, and all other expenses in
CURED under this act, and in lieu of ali taxes up
on the circulation authorized by this act, OF up
on the bonds deposited for the security OF the
same, such association organized under this act
shall semi ANNUALLY, on the first days of January
and july after its organization pay to the comp
troller OF the currency, i'll lawful money Of the
United States, one per centum on the amount of
circulating notes received by such association,
and in default thereof, the treasurer of the Uni
ted States is hereby authorized to reserve and re-
tain one per centum on the amount of said bonds
bonds So deposited, at each semi annual payment
OF interest theIeon; and all sums reserved and
retained shall be paid into the treasury under the
direction of the Secretary, and every bank, bank
under the provisions OF this act, issuing notes
calculated or intended to circulate money,
shall, on the first day of July next, and regularly
on the first days of January and July thereafter,
make and deliver to the comptroller of the cur
rency j true and accurate return of the gross
amount of notes issued by it, whether in circula
lon, or in its vaults, or on deposit elsewhere and
Ill default Oh any such return, the bank, banking
association, corporation failing to make
turn, shall pay to the United States penalty of
two per centum upon its entire capital stock, to
be recovered, for the use of the United States, in
any court of competent jurisdiction.