New-York tribune., 1869-03-19
MIR. coBuRNs CURRENCY BILL.

WASHINGTON, ID. c., March 18.-The bill in
troduced by Representative Coburn Of Indiana last Mon
day. to amend the National Currency act and referred
70 the Committee Banking and Currency, Is as fol-
lows:
Re enncied 6c That 10 secure better distribution
OF tie National Banking Currency there may be Issued
circulation banking ASSOCIATIONS organized or to
be organized IN the states ana territories having Tess
banking circulation than their due proportion, as here
after set FORTH and the circulation herein anth9ilzed
shall, under the direction OF the Secretary OF the
Treasury may De required for this purpose be with
drawn from banks organized In States aud the District OF
Columbia having circulation In excess OF their proper
proportion hereinafter set FORTH beginning With banhs
therein having eSaeGn St lGiS on ca;ng tn ~ S @ COO
and then from banks therein having circulation OF less
100000 and more than 100000 OF such clfcuau0n
40 per centum Of their padup capitals; and then from
ard more than 100000 reducing tho eroHiSoon Of such
banks TO the amount OF 80 per oehu or 1neii pnlnp
ne crcnlaon Of such banks TO the amount Of co per
centum OF their paId-up capital; and then from
banks therein having circulation OF 100000 and
less, and reducing tho circulation OF such banks
10 the amount OF 20 per ccntum Of their paid
up capital And, In case the amount required to com
piee the distribution be not thus obtained then tho
amount Of circulation required shall be withdrawn from
all the banks said States pro rotd ana the CoHtrOle
OF the Currency, under tho direction Oi he on
the Treasury, when circulation Is required, sha make
requston for the amount thereof upon tho DaKs @
indicated, as herein prescribed iorthwitn anu iii
ure OF such bank or banks to return the anOut 80 re-
Quired within one year. 1t shall DC the duy OF te UE %
given twenty days notice thereof In day neWspape
prnted In Washington ana in new 1OrK, an amount VI
bonds deposited by said bank security for said cc-
ation equal to the circulation to be Withdrawn from
said bank and not returned In cOmpliance win
such reouistlOn and the Controller shall with the pro-
ceeds redeem so many OF the notes Of such bank as they
come into the Treasury, will equal the amount acquired
from It. and not returned and snail pay the balance
there be any TO such bank and tho circulation herein
authorized shall be issued only the circulation Is Win
drawn so that the aggregate Of circulation sl NOT NJ
any time exceed $500 OOOOO0 and tho banking crcualo
foresaid shall hereafter be distributed as follows VIZ
OF such circulation shall be accor
ing 10 representation in Congress, ana SjOOOO accOr
ing 10 the appraised value OF all property real or PERSONAL
within such States and Territories, the same 70 De ascer
taped as soon as practicable by the Secretary OF to
treasury from the certified official statements OF the
Governors thereof; and the banks IN the Dstrlce o
Columbia shall not DO allowed circulation 10 eAceea
a. 900: and IL shall be the duty OF the secretary o
e treasury as soon rs practicable, TO make an esa
Of the amOuntIof circulation 10 DC distributor q"
urOvided,