The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-07-09
THE CURRENCY H11I.
WAsHIN0ToN, July ., 1870.
The following IL the Currency bill agreed to by
the Committee Of Conference. 1t now awaits tho
,y~esdent,s spnature 10 become law

The following 10 the currency Dill as agreed TO by
the Committee OF Conference. 1t now awaits tho
Presidents signature TO become iaw:-
ercTroN l. That nnyfour millions OF dollars IN notes for
circulation may b. ssaed TO national banking associations II
Addoa 70 The three hundIsd millions Of dollar. authorized
currency secured BY pledge o. United states bona; and
=, ns and ress%pSn 20 I'D
shall Be Furnished 70 banking associations organIsa or
tSsr proportion under The superintendent coas@paisd BY
the provisions Of the "Act 10 anend az act TO proyds
sssa bon snd prosd.
s sssd ws he
secure the additional circulating notes herein auho,zea
bearing inere. in coin but new tporonmsn. Of The in.
Grease. herein provided for .na 3: msds T.
ha, q application fer The crc.on herein .; Sa
ss.s: Ssyss .S;n .ssiI IogeIG. AZ. LAWFUL
70 banking a..oe.ton: aPpyag fcr the same in other
ss r. sss PsSSnsiSa
provided further that no banking association hereafter or
sIo AND b further snsGsd Tls. atihs end q each
he ss 10 ss 10 The ss aa
the Treasury the amount Of circulating notes issued under
s.soc.,,on. during the Psyo: month whsIeapon he
der the scts March 1857 and July - 1859
i orasr iSs p
cehcales which shall be desgna.sd BY number and they
w
SEC And be further enacted That upon the deposit of
with tho Treasurer Of The United States IN The manner pre-
Be-
70 o less sa
ye dollars no. exceeding IN amount eighty per cenm OF
upon their face the promise OF the association which they
70 pay So coin 5 M sS the os ss Il
redeemabe upon such presentation In such COIN provided
SEQ T. And be II further enacted That every national
ceding section of this shall all times hand not
gold coin Of the United states and shall receive At in The
81 debts ne gold notes OF every other si:h bsnk
.deeming IT. circulating poIes In gold coin Of the United
sSo And be further enacted Tha. every association
organized for the OF issuing gold PROVIDED
~ @ .s s ns e uS 70 s as % na
section twenytwo which limits the circulation Of national
the 6f.t clause Of section ,hlrtyiwo, which, taken
in with : pssn .sSon woa Ss
e sH:.cS to redeem their srcuag nos at
receive in paymen. debts every other national
p:s,ssa. snS f. SsSssaiss
and Lawful money Of the United States shall be held and
construed to mean gold silver coin q the United States
equitable s.rSuon the national banking
there be ssa n e r.. s
proportion as herein set forth And the amount Of circua
purpose. be Withdrawn. as herein provided, from
sssss sanss sa 4 sas ), hs ss
entitled can act to amend an act entitled AN act
OF United States bonds and to provide for the circulation
sas out
and territory
retired by each banking association In accord
with this Section and SHALL when such redistribution OF
circulation 10 required make requistion for such amount
culaton exceeding ~ States having Of
culaton and Withdrawing their crcustion in excess: Of
Ing circulation exceeding $500 00l in States having lsrg
and reducing the circulation such
ing undsurbed the banks 10 States having smaller proper
until those have been reduced the
grade and continuing thus to make the reduction provided
Tor by this act until the full amount Of 900 herein
provided for shall be withdrawn and the circulation
drawn shall be distributed among the States and Territories
And il shall duty the Comptroller Of the Currency
under the direction OF the Secretary of the Treasury forth
make requlsiton for the thereof upon the
banks above indicated herein described And upon fail
required within year. It shall be the duty OF
the Comptroller Of the Currency to sell at public auction
paper printed in Washington and in New York city
Of bonds deposited by said association security
from said association returned in compliance with
such requson and the Comptroller OF the Currency shall
ng association as they into the Treasury as viii equal
the amount required and not returned and shall the
no shall be me proyou
this section until after the $UOOO granted In the first
Hs Ssfa That after tn.
Of sa month: from the Of this act ANY banking
circulation may be removed State having
its proportion of circulation under such rules and
lions the Comptro of the Currency with the approval
of the Secretary of the Treasury utre provided that
the amount the banks shall not deducted
from the amonn of the new issue provided for In this act