The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1874-06-25

respective associations by which they
were issued; out II any such notes are
worn, mutilated. defaced, or rendered
otherwise unfit for use, they shall be for
warded to the Comptroller Of the Cur
rency and destroyed and replaced as now
provided by law. Provided, that each
of said associations shall reimburse to the
Treasury the charges Of transportation
and the costs for asserting sucn notes, and
the associations hereafter organized shal4
also generally reimburse to the Treasury
the cost Of engraving such plates IS shall
be ordered by each association respective
Ily, and the amount assessed npon each rs
ISOLATION shall be in proportion 10 tie
ejaculation redeemed, and be charged to
the fund on deposit with the Treasurer;
and, provided further, that SO much Of
section 50 Of said National Bank net
recognizing or permitting the redemrtioo
| oi lis circulating notes elsewhere thar 1T
its own counter, except as provided for N
this section, is hereby repealed.
SEC 4. That any association organized
under this act, or any of the acts to which
this is an amendment, desiring to with
draw its circulating notes. in whole or in
part, may, upon the deposit Of lawful
money with the Treasurer Of the United
States, in sums of not less than $4,000,
take up the bonds which said association
has on deposit with the Treasurer for the
security Of such circulating notes which
bonds shall be assigned to- the banks in
the manner specified in The nineteenth
section of the National Bank act, and tie
outstanding notes Of said association to an
amount equal to the legal-tendor notes de-
posted, shall be redeemed at the Treas
ury Of the United States and destroyed
as now provided by law; provided that
the amount of the bonds on deposit for
circulation shall not be reduced below
I$5O,oOO
SEC g. That the Comptroller nf tile
Currency shall, under such rules and reg
ulatlons as the Secretary Of the Treasury
may prescribe, cause the charter numbers
of the Association to be printed upon all
national bank notes which may DE here
after issued by him.
! SEC. That the amount Of the United
States notes outstanding, and to be issued
as part of the circulating medium, shall
not exceed the sum of $382,O00,000, which
said sum shall appear in each monthly
statement of the public debt, and no part
theI eof hall be held or used as a reserve.
Sec. z. That so much of the act en-
titled, an act to provide for the redemp-
ton of the per centum temporary loan
certificates, and for an increase of national
brink notes, as provided, that no Giro ula-
ton shall be Withdrawn under the pro
visions of section of said act, until after
the $54,000,000 granted in section / of
said act shall have been taken up,is here
by repealed, and it shall be the duty of
the Comptroller of the Currency, under
the direction of the Secretary Of the
Treasury, to proceed forthwith, and he is
hereby authorized and required from
Time to time, as application shall be only
made therefor, and until the full amount
of the $54,O00,OO0 shall be withdrawn, to
make o requisition on each of the national
banks described in said section, and in
the manner therein provided, organized
in states having an excess of circulation,
to withdraw and feturn 30 much of the
circulation as by said act may be appor-
TONED to be withdrawn from them, or,in
lieu thereof. deposit in the Treasury of
the United States lawful money sufficient
u AoasaiA sach circulation, and, upon the
return of the circulation required. or the
|deposlt of lawful money, as herein pro-
lyided, proportionate amount of the
bonds held to secure the circulation of
tsuch association as shall make such return
lordeposit shall be surrendered to it.
/ SEC 8. That upon1the failure of the
national banks upon which acquisitions
for circulation shall be made, or of any of
them, to return the amount required. or
to deposit in the. Treasury lawful money
to redeem the circulation required with
in thirty days. the Comptroller of the