Smyrna times., 1871-05-24


or to be orsanzed in those States and Territories less
thn their proportion under the appotionment contemplated
ny ie Provisions OF tue Act to amend an act to provide
anu 10 provide for circulation and redemption thereof app
ComGs deposited with the T1easurer Of the Emitted States
Je OF any drrDm of Soad M % d si9 bsn
IN COM but new OF the Increased CIR
herein provided or shall be made AS soon as paca
e ased upon the census OF eighteen hundred and seventy
oEne; Lna, nppcti3S Tor Ihe circulation m herein ao f
his G bx M KY 70 yl9 Ii1i ar 10 hs pryaniI.d
in States 2ayn@ less R1n their proportion it shall be lawful
Tor h Comptroller o the Currency TO issue such crcu alton
to banking associations applying tor the same ~ other states
or Territories having less than their proportion glyng ne
dd further That banking association hereafter Ogan5ed
shall have circulation in eAces OF i've hundred thousand dol
be it further enacted That at the end Of each
Comptroller the Currency to report Of the Secretary of the
provisions preceding section national banking
tSry OF the Treasury shall redeem
three centum loan issued under the
twenty-five hundred and xtyeight. not less than
in order the presentation Of such temporary
thereof by publication otherwise that said
teates (Which shall be DESIGNATED by numSer date and
designated in such notice and that tho Certificates desig
mSney reserve in Of any national banking Ssoca
shall he paid on such certiicate and they shall not there
be counted part OF the reserve OF any banking
SEE And be it further enacted, That upon the deposit Of
the Treasurer the United in the manner prescribed
rency shall be lawful ComprOee OF the Currency
issue to the association making the same circulating notes
dsrent denominations not less than five dollars not
eeeLng in amount eighty per cenum OF the par value OF the
%e"n U at the Office of in ecI
presentation IN such cen Provided That no banking
tOn organized under this section shall have circulation in
excess "i one million OF dollars. mt. Al -,
SEC And ee further enacted Iha every national bank
his .cI sl nj ali times kerp ON hand noi LIS thaS
tvtS i've nr rrfm Of its oustanlPr ri i'm ~cd ar
silver cc OF the Cnted states and shall receive a par IN the
association which the time Of such payments shall be
states.
SECS be it further enacted That assocation
this shall be subject to all the requirementS and provisions
OF the latOna currency act except he h clause Of section
Twenty-Five which limits the circulation o national banking
cause OF section thirty two which, taken With
,I' glecfu'Ls
at par IN tS cry c" New lGrk ana hS last
ing association TO receive III payment OF debts the notes o
That in applying and requirements of said
the banking associations herein prOyidsd tor tho
shall be held and construed to gold ver coin Of the
SEC And be further enacted That NOR,
10 ] ei9ns sG notes n " to bRnsS S Sseoh or
anize in and Territories having less than their
this section shall under the direction Of the rcr
ar Of the Treasury as II may be required or this purpose D.
Withdrawn as herein provided from banking association
organized IN States having circulation eNceelng that provt
~ .! 'ue ~ ~ ~ ~ 81, a" Het
pledge OF tnitcd states bonds and to p1oye r i@ crcu
ton and redemption thereof approved March three, eigh
shall evceed twenty-five million dollars The CGmptroe
Treasury make statement showing the circnl
tiOn and Territory and the etirv
by with this
and SNAIL when such >trbuun OF calculation required
make such amount such banks
with the banks "a circulation
Withdrawing oi million
lars and then proceeding rata with other banks having
circulation executing three hundred Thousand dollars
aud
the circulation Oi such banks in States having the
portion leaving unsurOed the banks
ing smaller proportion, until those greater
reduced to grade
reduction provided this iul
the circulation withdrawn shall be distributed
and Territories having less than thsr proportion
eQuaize the Aud shall be the
Oer OF The Currency under the direction OF the
above herein
And failure OF such OF them.
the required within shall he the
the Comptroller O the Currency to sell at pubic
printed III Washington and New York city, amour
OF bonds deposited by said association security
to the circulation withdrawn
association and lot returned in compliance with such
tom and the Comptroller OF tho Currency shall with
ceedS redeei OF the OF said banking
they into the will equal the
qured and nor returue and shall the balauce If
such PROVIDED, That crculatio
after the ty-our millions granted the frat section sha
4 have BEEN taken
And be further enacted That alter the sxpiratio
OF SlA months from the Of this banking
located State having
be removed State having less than pr0porto
crculaun under such rules and regulations Com
frOsr OF the Currency, viii the approval
the Treasury require Provided That the
banks shall be deducted the anon
. issue provided for in this
. Approved, July l2, 1870.