Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-01-22

associations organized or 10
be organized in those States and
Territories having less than their
proportion under the apportion.
ment contemplated by the pro-
visions Of the ''act to amend an
act 10 provide a national currency
secured by q pledge Of United
States bonds, and to provide for
the circulation and redemption
thereof" approved March 81,
1865; but . new apportionment
shall be made as soon as practic
able, based upon the census of
1870.
SIC. ,. That q. the end Of each
month after the passage OF this
act it shall be the duty Of the
Comptroller Of the Currency to
report TO the Secretary of the
Treasury The amount Of circula.
ting notes issued 10 national bank
ing associations during the month,
w~hereupon the Secretary Of the
Treasury shall redeem and retire
an amount OF The three per cent
temporary loan certificates, issued
under the &C: of March II, 1867,
and July %, 1862, no; less than
the amount OF circulating notes
50 reported; and he..may, if nee.
essary, in order % procure the
presentation Of such temporary
loans certificates for redemption,
give notice 10 the holders thereof,
by publication or otherwise, that
certain Of said certificates, which
shall lie designated by number
date and amount, shall cease 70
bear interest from and after the
date of such notice; and that the
certificate 50 designated shall no
longer be available as any portion
of the lawful money reserve in tn
possession OF any national bank
and after slcL notice no interes
sl!al! be pa,l IN such certificates
and they ,ha.. 40 be co4a:ed q
q part OF lie reserve OF any bank
ing association,
SEC. 3. That upon the leposi
Of any United States bonds, bear
! ing interest payable in gold, wit
il the Treasurer Of the United STATE
in The manner prescribed in IL
nineteenth and twentieth section
Of the National Currency ac;,
shall he lawful 10: the Conn
r. tro!,er u the currency 20 issl
lie 70 the association making Ii
same circulating notes Of dife
., emf denomination, not less ,ha
five dol.ars, equal N amount
III ninety per centUm oil the 60.
Is value OF the bonds deposited, or
II, no- exceeding eighty per centu
Of their par yS.ie, which not
shall GEAR upon :heir face Il
y promise Of lie association
=" which hey .:e ..sled % p;
III them on presentation at the Oil
a. of the association in gold or $
yer coin of the United States, ~
shall he rcdeemabie upon su.
"e presentation in such coin.
nj SEC. Taa, every nation
r. bankGgas.Dcia,i0n formed and
he the provisions OF section thF
IN, Of this ac;, shall q. all times he
No on hand no. less than twenty Fl
, a per ceatnm Of It's outstanding C
~ cu.a;.oa IN gold OF silver coin
the Un.;el States, and shall
@' ce.ve 4: pa. IN the payment
debts the goll notes Of eve
he b~anking association which, nj
time Of sach payment, shall
~ redeeming is circulating no
l. in gold o: silver coin Of the L
~ led States.
iu' SEC. ). That every associat.
organized f)- the purpose Of is
ny, ing gold notes, as provided for
on, the preceding section, shall
20 subject 70 all the requigeme
+. and provisions oi the Natio
OF Currency ac;, except the
rn. clause OF section twenty-t'
which limits the circulation
national banking associations
ing $500, 100000; the first clause
on section thirty.two which, takel
connection with the proceed
section, would require matte
'',i' banking associations organizes
Ir!y the city OF San francisco to
cor deem their circulating notes
par in the city of New York,
der The last clause Of section tlli
two, which requires every nat
al banking association to rec,
III in payment of debts the note
every other national banking
ling ISOLATION at par, provided tbs
applying the provisions and
orirements of said act to
.,ha banking associations herein
'''' vided for the terms lawful me
aud lawful money of the Tn
Is States shall be held and con:
Tim. ed to mean gold or silver col
80 the United States.
-@a~-
'"'F THE LABOR MARKET.-A
Francisco paper reports tn
..-z ..n, 80 ,l.;lIa1 mnrEmau in