The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-07-09

The following IL the Currency bill as agreed TO by the
Committee OF Conference. II now awaits the Presi.
dents signature TO become a law
SECTION /. That lny four IN lions Of do lars In notes
for circulation may ne issnot 20 natiolo ban ing
doas autI0lCd by tie twenty soc M section u the
nc 10 PROVIDE = national e1nehcy secured by =
cllat 90 aic redemption thereof approved JuncS. 1856
10 6ansns sSociatSns organsei or to pe orrSnled
~ those Statcs ana territories having less than their
~ rrov ion. Of TIC at 70 aacnd 70 pToyide
saes 6onds and 10 provide o ,e cTeui S nsd
redemption the. COT" approved March g. 1865 and the
States TO t,eure The adatona ercSs'insiuose, herein
authorized shah % OF any description Of bonds OF the
United states bearing Htercst la coin but new APP
portionment OF the increased circulation hersin pro
upon the census Of l,'J Provided that Il appcations
for the circulation nerein authorized shal
act banking associations eahlzed or TO be organ
be lawful 10; he tompif6er OF he cnresey 70 issue
,scn escqSSn g eansng .ppyng for
TIER gvns inc rreierencs 20 such as have
banking associntion hereafter organr.a sa III" h. NO
circulation In excess OF ave hundred thousaDd dot
SEC Q Aiti Be q yCirther enacted, That At the end
o. eSGh nSnh Mter We pssaye OF hs ac. Il shall Dc
70 the secretary OF the Treasury the amount OF
ns ec,5n to naoha 6aSsrs Ssocasons ' dSrns iSe
p.evou, month whcrcupon the secretary Of the Treas
Ivy that redeem and cancel an amount Of the cen
March < ISL; and Juy s. is not ess than the amSunt
u odcr 70 procure the prefcntAuon OF such smporly
holders hereof " pubiesnon O. Otherwise, mat e Sg
number and they san not BE- e9unted as part vi the
reserve O.; any banking association.
ro:t Of any uul,cd ,st,s bonds bearing Interest pay
hoe ~ 70 e. WIN t' lTea,ntef o. we Inled STATE.
tctn sections pl the Nauol1l Currency act, IL sha be
The a.s,oiaio1 mixing the ianc circulating rotes of
different dononn,tllls lot less than ave dollars. nos
eEcecdinc In amount eighty FER centum OF the par
vat 81 the tuLis deposit Il, VII Oh LOtc- shall Il
iicy issued paw tHcni. upSn SrcseiiatSn at the
sae al Sn s Be- ~ gS oS SS .c 81 ,eS United
N such coin IISrnel That no banking association
sEe Ard % q Iertho, sn1ecd, Tina, every
Nsioas Of toe preceding section u us shal al
on oatSnee circulation I N o Coin OF is 'SGiuS
= 9nd tha tcgciyc % par n le payment OF debts
whcn ny Ne Tine OF such ay nents seal! b. redeem
~ INA Ge y iSSr Je ' fS, ever cyety a, e.
e'I a =. tpi@,t lo t"e ppfiesc Of ',nn+ sgIi lvles
a.. rmeuts and PROV sions OF The ia,ioual currency
Unite he circulation OF national banking it"ns
- three hundred millions OF dol IN IN" lt clause OF
section hUtytNo, which, taNer Ia connection with the
socsons organized in me ely Of san Franc .eo 10 re-
York and the last cisu'c OF section thirty two WI "a
n payment q debts the nStcs Of every older nSiSn
the pT and req urements Of ssi @ct to TX banS
ing associations herein provided for, the terms law
sna be hcd and construed to mean gold Of slVsT com
SIC. O. And De q ntrtaer Enacted, That to secure
more EQUITABLE distribution q the national banking
SINKING orsabFsd IN shc sss sh SYi fer p
torres having less Than their proportion ss nercn
Shall under Tie direction Of he Secretary Of he TreS.
proyod ISr Ssas' % SS Ss
organted in STATE. havlng eiircnlstlon exceed
@ tS'osHsSd 40 S s ss ei' an sa''i se3
~ unteG ss sona and 70 pTo
vide Tor me circulation sno redemption thereof APP
than not exceed IS 10000. Tle compu olIer OF the
& & make snssr tat VI sd
circulation In each state ana Territory ami the
accordance with tnif section, and snal, wien such re-
dlstT button Of circulation Is required make
bank, CSnimencng Ti,h 10, me bans; having
exc~s OF circulation and with irawirg TIER cifcuia
uon IN exec, Of tigp,v1i and then proceeding pro
n taSs 9SyH e, S lars; SAse Of sra
ing S1cistur6cd :hc banks n States havSs Smaller
duced 10 he ade, and continuing IhG, 70 make
the rsdue,'n PrSIIdei ior by th; Iet VAIN ts full
Withdrawn and the circulation 20 Withdrawn shall
Gaving less lhan thcF proportion, 50 a. to esaSise
tne Same and shall be me duty OF SIC Comprjlcr Of
The Treasury, forthwith 70 maze reqnisluon Tor the
IN dcscrio,d. Aud upon failure OF such associations.
o. any Of them 20 return the smountso require wlhin
Currency sell at pu0llc auction having gwen twenty
%,hngtos and one IN NeS YORK cy an amount OF
bonds dnpotited by said on VA security for said
circulation equal TO the circulation TO b. Withdrawn
from sad association ana not returned u compliance
with such IeQulsluon; and the Comptroller Of The Cur.
SHAH with the procee Is re ,eem MANI Of the
noes OF said bankng association AZ they come into the
treasury viii equal the amount required not
returned ana shall pay toe balance, II any, TO tuch
banklnL association provided that no circulation shall
be withdrawn undcT the provisions OF this section unu
after the Ss4,OOVC0O granted IN the Irst section lsha
have been taken Lp.
sEc 4 And be 4 furth, enactaA that after the ex.
piHt on OF SIX months from the passage NJ this act
any banking association located IN Any state having
more than its proportion OF circu alton may BE- r.
moved TO any state having iesa thAn s proportion Of
circulation, such rules Aud regulations as the
Ipmptrol or of tnc Currency, with the apo oval ot the
Secretary Of the Treasury, may require provided.
tEat the II the issue OF sad banks sNi not be
dcdactvl iron the amount VI new issue PROVIDED lor
a. I'm