Evening star. [volume] (Washington, D.C.) 1854-1972, 1870-08-31
IOYFICIAL,I
LAWS OF THE UNITED STATES
Psssed at Second Session Of Forty. arxt cmgr,.
IPuRLIc-Nn. I'LL


IPusLrc-No, ISL
AN AcI to provide for the redemption ox tina ,h-s.
Per cent, temporaIy loan certificates, and for an
Bs q sracted y i1e Ss.a. asS House Of Rc,re.e.,
ass,,ssi,s' Thai ssars, q Anaer,sa IN COnsrsss
& =, IN addition % the three hundred mil
e0n 81 the Act to provide national currency Sc.
vide for the circulation and n th 40 pfo
sppIosed Jpoe three, eighteen hundred and sixty
furnished to banking associations oPSsnn or TO be
organzea in those Territoris, having less
II 81 the %
At 60 provide nation Al currency secured by pledge
pson ana redemption M Safea
deposited with the Treasurer Of the United states to
sscnIe me additional circulating notes herein
United states bearing interest in coin, but a new
apportionneu@ q the Increased circulation herein
based upon Of eisSiesn hundred aud sew
snE PIoridsd, That IL Applications for the circu--
one YEAR after the passase II this act, by banking
ron Srg.nined or TO be organized in States
iQr the Comptroller Of the Currency to issga such
in other states or Terrorier hsy lug less than
! .ner Hrop0ruen, giving the preference TO such
That no banking association her safter organized
.iall hayea circulation IN excess OF five hundred
Sac. . And b At further enacted. That At the end
q esce month after the passage Of this 1t shall
be the duty OF the Comptroller Of the Currency TO
report TO the Secretary Of the Treasury the amount
81 circulating notes issued, under the provisions OF
the preceding section, to national banking sssoci
ATOMS during The previous month; whereupon the
Secretary oil the Treasury shall redeem and lncel
an sIrount Of the three per centum temporary loan
certificates issued under the acts OF March two.
i've, eighteen hundred and sixty eight, not les.
than the amount Of circulating notes 30 report
presentation Of such temporary loan csrsestes for
redemption, give notice to the holders thereof, BY
Gates, (which shsli be designated By numorr. date
and am9untl shall cease 20 bear interest from aud
tee Certificates 80 deslg1s,ed shall no longer be
s1 ~ Fl 5ns
AID after the day DESIGNATED in such notice inter
not thereser be counted as part OF the reserve OF
4 any banking association.
deposit Of any United states bonds bearing IDteresi
able in gold, with the Treasurer Of the United
d NATIONAL es
shs be lawful for the SoTDrUIls5 Of tbs Our
circulating Of different denominations not less
per csntum Of par value Of the bonds dspe.1 e
mich notes shall bear ppSn their face the promise
them upon presentation at the Office Of The assoeis
iion in sold coin OF the United States, and shall be
That n saSa ~ such Coin
under this section shall have circulation In excess
sEc. 4. And beu further enaetsd, That every ma
tional banking association formed under the proyi
sIons Of the preceding section OF this shall at all
times keep on hand not less than twenty five per
sss aad sa s fsds Gs
par in the payment Of debts the gold notes of every
srch payments ssall be rede-ming its ciGculsiins
notes IN gold coin of the United States.
sccaton organized for the purpose Of issuing gold
notes provided in this act shall be subject 10 ali
se @ esmss o. the
two: hi;h limits the circulation Of national bank
ihe bret cisuse Of section thirty two which talsn
| national capixa in
the city OF San Francisco redeem their crc uatine
at d in 'es s e New YORK Sn .pd
IniI rf-. every national banking association to
ether g ess ss
par; PsOr,d.d, That in applying the, provi
assoc stions :; rein provided Tor the Lawful
nopey and lawful money Of the United States,
| shall be held and construed to mean gold or silver
coin of the United States.
more equitable distribution Of the national bank
there may be issued ers1ating notes e
the f 81 RfFSR2eSR h't fSi'
the Sssrstsry of the Treasury. s a, Is msg
be required for this purpose be withdrawn, herein
having eircnaon exceeding r. provided cd
t the se, entitled act to amend an act en-
Iensy sfsufsd Sy pledge of United States bond and
o. approved March three: eighteen hundred and
sl1iy hye, but the amount 80 withdrawn shall
recupD Of the Secretary of the Treasury, make a
state ard Territory and the amount BE- retired by
each tsnking association in s.cordauce with this
circulation is required, make a requisition fer
such amount upon such banks, Commencing
ing one mian u Dollars in stases having
IN eHcess OF circulation, and Withdrawing
hsyiI circulation exceeding three hundred thous
sDt collars IL States having tine largest excess Of
70 states having the greatest Proportion in excess
.maler proportion, until those in greater Excess
have teeR reduced 10 the grade and continuins
until the full amount Of twenty-five millions, herein
provided for, shall be wthdra En; and the circuia
tscs ard Territories having less than their Drspor
tiCn 60 as TO eausize the same And il sh an te the
direction eretary Of the TreasuTy IN
70 make re9uisition for the amount thereof upor
And upon failure of such associations, or any
OF them, to return the amount so required
ptroIer ofthe Currency to sci al pnTis nj ts
hang given twenty days notice thereof In ono
Nv 1.fh city, an amount OF bonds deposited by
said association, g. security for said circulation
association and not returned in compiiaoce viii,
sueh reaIsition; and the Comptroller Of the Cur
n te, II said banking association, a. they come nto
the treasury will equal the amount required And
bstns p a TSss
isilcn shall be vthdr awn under the provisions OF
in the first section shall haze been taken up.
SIC AHd Be u JTrtnsr enacted, That after the
ban king association loc sted Ia any State hayina
noi than its proportion Of circulation may b. re
OF circuation, under such rules and regulations a.
ne - nIroller Of the Currency, with approval
r.afd That ,bs amount Of the is.us Of said bank.
Approved, July Il. lS70.