New-York tribune., 1874-07-04
THE REDEMPTION OF NATIONAL BANK
NOTES
A CIRCULAR ISSUED BY THE TREASURY DEPARTMENT
PRESCRIBING REGULATIONS.

A CIRCULAR ISSUED BY THE TREASURY DEPARTMENT
PRESCRIBING REGULATIONS.
WASHINGTON, July "a circular was issued to-
day from the Treasury Department prescribing
regulations governing the redemption Of National
bank notes. The notes of National banks other
than gold banks may be forwarded to the Treasurer
of the United States for redemption under the Gov
ernment contract with the Adams Express Com
pany in sums OF $1,000 OF any multiple thereof, by
any person, company, firm, or corporation, situated
within the territory covered by the contract Re
mittances NAV be made up of the notes of various
banks from banks and other parties situated
without the territory covered by the contract and
should be marked under Government contract
with the Adams Express Company, from" - The
point Of connection with that Company. The
charges should be prepaid to that point, and the
bills therefor should be sent to the Treasurer for
reimbursement to the cOnsignOrs Remlttances of
any other amounts than multiples of $1,000
will not be received under Government con-
tract but the charges thereon must be
paid by the consignOrs. Assistant TTeasurers
and designated repositories of the United States
will select from the funds in their custody and from
those which shall hereafter be received by them all
notes Of National banks other than gold banks,
which are worn defaced mutilated, OF otherwise
unfit for circulation, and viii forward them 30 the
Treasurer from time TO time, under the Government
contract with the Adams Express Company. When
practicable, the remittances should be made In sums
of 81 600, even multiple thereof. Notes equal
ing or exceeding three-fifths of their original pro-
portions if in such condition that their genuineness
can be clearly ascerained, and If the name of the
bank and the signatures of of its officers are
dstinguishable will be redeemed for their full face
value Fragments less than three-hfths will not be
redeemed by the Treasurer but should DO presented
for redemption 10 the banks by which the notes
were issued Should such fragments as those last
mentioned be received by the Treasurer, they will
be- returned TO the parties Gby whom they were for
warded
The Government contract with the Adams Ex-
pre IS Company extends 10 and includes all points
within the United States accessible through estab
lshed express lines, reached by continuous railway
connection " but does not extend westward beyond
Omaha and Nebraska City, IN Nebraska, aud Atch-
son and Lawrence, in Kansas, nor include the lines
OF Wells. Fargo q Co., in Missouri aud Iowa. The
contract covers the lines Of the following express
conpapies: Adams American, American Mer-
chants Union, Central. Earl's, Eastern, Harndens
Hone HoWard's National, New-Iersey, South
erp. Union. United States, and United States
and Canada. Returns for Temittauces from
orivate parties WILL in all cases he made
bv express to the parties from whom the bank
notes have been received, in new legal tender notes
OF fractional currency of such denOmina-
lions as may be asked for The proceeds
of remittances from Assistant Treasurers
and designated repositories Will be placed
to their credit in the general account,
unless a request shall accompany the remittance,
that return he made in new ,egal-tender notes or
fractional currency. The regulations also contain
explicit instructions regarding the manner of in
closing and sending the notes. The packages must
be- put up in boxes in wrappers OF stout paper or
cloth tied with strong twine, secured by careful
scaling. and plainly marked GA the outside, with
the amouut aud nature of the contents. the full
name and post-oilice address Of the conHgnor, aud
the fact that they forwarded under the Govern
ment contract with the Adams Express Company
letter of advice written on not less than half
,heet of commercial note-psper must be put inside
the package, and duplicate letter should De sent
by mail to the Treasurer on the day that the remit
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