, 1874-06-21

nnture.
THE BILL As FINALLY PASSED.
SECTION ]. The act entitled IAN net to provide 4
| national currency. secured by pledge OF United
States bonds AMI to pr ovde for the circulation and
REDEEM ptlon thcreof approved June 3 1861 shall be
hereafter known IL the Nation IL Bank act.
SEQ g That SEC. 81 Of ths National B. Ink act be
amended that the several associations therein provided
for shall not hereafter be required to keep hand
any amount Of money Whatever, by reason Of tho
amount Of their respective Circu:atons; but the
moneys required BY said section to be Kept At al times
on hand shall be determined By the amount OF de-
posits. In al respects ~ provided for In the said
BeCilon.
SEQ. 3. That every association organized or to be
organized under the provisions Of the ad ac and Of
the several acts aeudatory thereof shall ut Ill times
ksep and have deposit in the Treasury Of the United
States, in lawful money Of the United States, sum
equal to per ceutu Of Its circulation. to Be held and
used for the redemption Of such circulation which
Is provided d. in see o. It's sct and when The cr
cnl4ting notes of az such associations. assorted
Or ii ,h u 81 sa7 19F 1s 1
thereof to tho Treasurer OF tho United Slater, the
same shall be redeemed in United States notes. All
notes redeemed shall be charged by tho Treasurer
OF tho United States to tbs respective associations
fSSuing the same, and he sh1u notify them severaly
discretion, Of the amount Of such redcnpsions and
Whenever such redemptinns Of any ASSOCIATIONS shall
amount to the Of $500 such associations notified
shall forthwith deposit with tho Treasurer Of tie
United Statos in United States equal to
the amount OF its circulating notes redeemed aud
I'll notes o. National snks worn, aefaeed mutiated,
or otherwise unfit for circulation shall when re-
eetved by any Assistant Treasurer, or at my
designated dep,story Of tae United States, 10 for
wArded to the Treasurer Of the United Stats for
dt.npton, provided herein and when such redemp
tions hAye been ,ursed the circulating notes
70 redeemed shall be fo wArded to the RESPECTIVE
ctatous by which :h:y issael: but If any alch
notes worr, mutilael, def.ced, rendered other
~1se unfit for use, they shall be for satded the Comp
tIoaer OF the currency and des royed and Replaced
III new provided by law Provided. that each OF said
associations shln reimburse to tho Treasury
the charges for transport and tho costs for
notes. heres aftern
g1nzed shall also generally reimburse to ths Treasury
tue cost OF engraving such plates shall be ordered
by eAch association respectively aud the amount
sesscd upon association shall be IN proportton to
the circulation rede med, and be charged the fund
deposit with the Treasurer; and provided further
that SO much OF Sec. 81 Of said National-Bank act
lst1ns notes el=ewhers than a. its own counter er
cept ~ provided for In this section, is hezebJ re-
pe4led.
SEC. l. That ans Association organized under this
act or any Of the acts to which this is amendment
desiring to withdraw s circulating notes. in whole or
N part, may upon the deposit Of avful money with
less than - 0oo take up bonds which said Associa
ton has deposit with the Treasurer for tho security
o1 such circulating notes. which bonda shall te assigned
to the banks In the specified in tbs nineteenth
section OF the National B.nk act, and The ou;s,ant
Ing notes OF said Association to amount equal 10
tbs eRaltender notea deposited, shall be redeemed Ut
now provided by law; provided that the amount Of
the bonds on deposit for circulation shall not b.
reduced below $50, ,00O.
SEC. $. Tnat the Comptroller Of the Carreucv shs
undr such ru]es and regulations tho Secretary OF
the Treasury may prescribe, ths charter num-
lecs OF ths Association to Ia printed upon all National
8tnk notes which may be hereafter issued by him.
SEC s. That the amount OF the United SsateA notes
outstanding. and to be issued par: Of tho circu-
a:inR 'nesum, shall not exceed the Of sa52 ooo-
ooo, which said shall appear in each monthly
statement f the public debt and no part thereof aha
be held OF used reserve
sEo. 7. That 80 much Of thu &c. entitled, An act