The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-05
Acts Suggested for the Consideration OF
Congress.


AN ACT AUTHORIZING THE FORMATION OF NATIONAL RANKS
OF DISCOUNT AND DEPOSIT
the business Of banking discount deposit exchanse
s9S
which its business shall be conducted the amount Of the
'e .
ans s'es and Of aSs s 'Ran
control the affairs OF the corporation for the first
scrber to such articles Of association shall also subscribe
thereto his place Of residence post office address and
Upon complying with the conditions specified n the
ton who shall endorse thereon The day they are aled
purpose and thereupon the parties who have 50 sub
with
BE-
snS nn the woe Of the
have paid in lawful money Of the United States
o Or 81 ay made
said officers that said amount has been paid In as aore
SEC ga copy of any articles of association fled and
and ~ the
Or her and Ser 3D. to be by the
sumptye evidence Of the incorporation OF such company
SEC Avery corporation formed underthis act ST. all
elect annually in such manner as its bylaws shall pre-
president and treasurer who shall control ne affairs
q the % IN &c are o ae IN
unless he shall be absolute owner therein and
on
SEC n-Each stockholder in such corporation shall be
upon every share q stock held By him; o,-., ,.
this shah Be- r @
transferable in the manner prescribed by the bylaws Of
SEC. mo corporation formed under this act shall
loan sc a1 with
act shall lend money to any OF Its directors or
sEc Sine o1hcers may use such portion Of the
= o S
bearing four per cent interest! and the bonds 80 pur
SEC a-Said officers may borrow, the notes Of such
&C g
cent giving United States bonds Of - as collateral
SEC oSo corporation formed under this act shan 20
pos but each ssaI g subject 10 taxation
sa the S o oo. be By fSs
shall have been paid In Is provided for IN section Of
SEC i2-Esch ohacer of the corporation SHAH be per-
spencs Of his neglect q duty Of any violation By
5 amy snd III @ S S Ss
for keeping except such received by vote Of
given BY the President Of the corporation specifying said
make semi returns signed certified to by the
Of Of is
n also the nj IN Hd SUn
DESIGNATED By the Secretary OF the Treasury ,
consistent with the provisions of this act
AN TO srcuRH TO THE PEOPLE yNIroRx CURRENCY.
10 OF ss h s
several States and and 70 provide the requ
'n' na @ sSs
And the Of S the to BE
bis duties Si q the President shall approve ' u
printed an
any time the whole amount Of outstanding bonds bear.
tom. q not than Than siSS !Ss
with the ocsrs Of the several s1d by
them loaned 70 any person applying tor the same re-
@ al
-Four cent Sosu The for
amount drawing ike rate OF interest pledged col
loan in the same kind Of money received or in
section of h. act shall.
m o e IN s
except for customs and interest on the pub
SEQ xrhe Secretary is also hereby directed to print
noa as Ss g be than
sSs Of sysf
payable on demand at the place Of issue.
issue? 81 sSs ss
eG aecYeS O s sS
SEC 6-Tne Secretary Is further directed to issue bs
authorized by this act to extent not exceeding the
amount Of the gold and silver coin on deposit In the
to any @ or RS Tn sd OF rSs s G
the redemption Of the bills 30 issued
AN ACT NATIONAL DEBT.
and Srsstee issue and sell man
iSsr R, so Ssss ~ SSsS s :aPs
beaSng interest at the rate of four per cent PEI
paid in gold Its equivalent SAID bonds snan beregis
tered issued with coupons attached tine opuon OF
ssc Smfie il also hereby directed receive in pay
rcncy legal tender notes and bonds OF The United States
Issued prior 70 the ps;sagS OF ns nce ~ tne par value
Tency legal tender notes and b?nds received shall Be
Smme dafely audited and cancelled.
enc AL acts and parta Of acts authorizing the issue
oegal tender notes and fractional currency which have
not already gone Into ensst ere hereby rspSalsd.