The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-01-30
The Greenback Bill.

The following is the full text Of Mr..
Randall's bill, now under consideration in
the House. There is confessedly stronger
feeling iu the House for it this session than
last, and ii behooves the national banks to
exert their influence vigorously if they
wish to defeat measure SO inimical to
their interests: s. s...
SECTION /. From and after the passage
Of this act it shall be unlawful for any in
dividual, association, or corporation, to
issue as money any note or bill not autho-
rized by act of Congress, and the Secre-
tary of the Treasury is hereby authorized
to issue on the credit of the United States
such sums as may be necessary for the
purposes set forth in this act, not exceed
iGg in the aggregate amount $300,000,0 900
Of United States notes, not bearing inte-
rest, Of such denominations as he may
deem expedient, none Of which notes shall
be for fractional part of adollar; and
,sad notes shall be lawful money and legal
tender for debts, in like manner as pro-
vided in the first section of an act entitled
An act to authorize the issue of United
States notes, and for the redemption or
funding thereof, and for funding the float
ing debt of the United States" passed
February Is, 1852. and the provisions of
the sixth and seventh sections of said act
are hereby reenacted and applied to notes
herein authorized.
SECTION 2. That notes authorized under
this act shall be issued only in exchange
for circulating notes of national banking
associations, issued under She provisions
of an act Of Congress approved March 3,
1864, entitled An act to provide ma
tioDai currency, secured by o pledge of
United States bonds" &C., and for the
purchase Of such amounts of United States
bonds as may be necessary to carry out
the true intent of this act. 80
SECTION 8. That all circulating notes Of
national banking associations which may
hereafter be paid into the Treasury of the
United States shall be retained in the
Treasury, and not again put in circulation,
and the Secretary of the Treasury may
pay out for circulation, as the wants of the
Government may require, an equal amount
Of the United States notes hereby autho-
rized to be issued, and the Secretary of
the Treasury may exchange United States
notes issued under authority Of this act
With any person or persons for like
amount of circulating notes of national
banking associations; and the Secretary of
the Treasury shall notify any banking as
ISOLATION Of the amount of its notes SO &C.
cumulated when such amount is not less
than 5000; and the said banking associa-
ton is hereby required, within thirty days
after the issuing of said notice, to redeem
sad notes at the Treasury of the United
Ssates in lawful money, and to present the
notes so redeemed to the Treasuryfor can
collation.; and the Secretary of the Trea-
sury is hereby directed to cancel the said
notes and to return to the said banking
association the proportionate amount of
united States bonds deposited as security
ior the same.
SECTION 4. That in case any national
banking association shall neglect or de-
cine to redeem its circulating notes as
provided in the preceding section within
Inc thirty days therein specified, the Sc
ctetary of the Treasury is hereby autho-
med and directed to cancel said notes,
1ac to pay said banking association in the
United States notes authorized by this act
'ae market value Of the proportionate
amount Of United States bonds deposited
.sssecurity for said circulating notes, ana
transfer said bonds to the commission
ITS OF the sinking fund which is herein
tiler established, first furnishing to said
SaaEing association list Of the numbers.
saseS, and denominations Of the notes so
Cancelled.
SECTION 5. That when the circulating
notes Of any national banking association
sasll have been so far redeemed and can
eelled at the Treasury that theremaining
notes shall not exceed three per censnm of
.ae whole amount OF circulating notes
originally issued to said banking associa-
h sVa .ae Secretary Of the Treasury is here
"a authorized and directed 10 return TO
SOU psnk tue bonds deposited ~ security,