The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1874-06-28
The New Finance Bill. Z
Houses and Approved 1y the rrcsi-
dent.

ton OF the national bank currency. and
for other purposes.
SEC |. The act entitled an act 10 pro-
vide fer the circulation and redemption
thereof, approved June 3, 1864, shall here
af,er be known rs the national bank act.
SIC 2. Thu, section thirty.one If the
nstional bank act be SO amended that the
several associations therein provided for
snail not hereafter be required to keep m
hand any amount OF money whatever, by
reason OF the amount of their respective
circulations; but the moneys required Sy
said section to be kept at all times on
hand, shall be determined by the amount
Of deposits IN all respects, as provided
for In the sid section.
SEC. 3. That every association organ
lied, or to be organized, under the prOvis-
ions of the said act and of the several acts
amendstory thereof, shsll stall times keep
and have on deposit in tho treasury OF
the United States, in the lawful money OF
the United States, sum equal TO i've per
centum OF its circulation, to be held and
used for the redemption of such circula-
ton, which sum shall be counted a part
of its lawful reserve, as provided in Sec
ton Of this act; and when the circula-
ting notes Of any such associations, as
sorted or unassorted, shall be presented
for redemption in sums Of $1,000 or any
multiple thereof to the treasury OF the
United States, the same shall be redeemed
10 United States notes. All notes so re-
deemed shall be charged by the treasurer
of the United States to the respective hs-
socistions issuing the same, and he shal.
notify them severally on the fret day OF
each month, or oftenor at MS discretion,
of the amount OF such redemptions, and
whenever such redemption for any sssoci-
auon shall amount TO $500, such associa-
ton so notified shall forthwith deposit
~" rtirrlss9 al the n'!s ,ls St q, sus
amount OF its circulating notes
go redeemed and all notes Of Ia
tonsl banks worn, defsced multiated or
unit for circulation shall, when received
by any assistant treasurer or at any dosig-
mated depository OF the United States,
be forwarded TO the treasurer OF the
United Gates for redemption, as provided
herein and when such redemptions
have been SO reimbursed tho circulating
notes 60 redeemed shall be forwarded to
the respective associations by which they
were Issued but, if any such notes are
worn, mutilisted, defuced or rendered
otherwise unfit for use, they shall DO for
wsrded TO the comptroller of the cur
rency, and destroyed and replaced as
now provided by law provided that
each of said associations shall reimbur
TO the treasury the charges for Transports
ton and the costs for asserting such
notes, and the associations hereafter or
gsniZed shall also severally reimburse to
the treasury the cost of engraving such
plates az shall be ordered by each sssocia-
ton respectively, and the amount as
sessed upon each association shall be in
proportion 10 tho circulation redeemed,
and bs charged to the fund on deposit
with the treasurer and provided further,
that so much of section 80 Of said national
bank act requiring or permitting tho re-
demption OF its circulating notes else
where than ut its own counter, except as
provided for in this section, is hereby re-
peaed.
SEC. 4. That any association organized
under this act, or any OF the acts of
which this is All amendment, desiring to
withdraw 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 SO, 900, |
take up the bonds which said ASSOCIATION |
has on deposit with the treasurer for the |
security OF such circulatln gnotes, which |
bonds shall be assigned to the bank in the |
manner specified in the nineteenth sec-
tiOu of the national bank act, and the out
standing notes of said association, to an
amount equal to the legal-tender notes
Deposited, shall Do redeemed ut the treas
ury of the United States md destroyed,
as now provided by law provided that
the amount of the bonds on deposit for
las, k..n L. L i
$4,000.
SEc, .. That the comptroller Of tho cur
rency shall, under such rules and regula-
tions as the secretary ef the treasury may
prescribe, cause the charter numbers of
the association to bo printed upon all ma
tional bank notes which may be hereafter
issued by him.
SEC. q That the amount of United
States notes outstanding and to be issued
as a part Of the circulating medium shall
not exceed tho sum Of S8Sz, 100000, which
said surn shall appear in each monthly
statement of the public debt, and no part
thereof shall be held or used MS reserve.
SIC. I. That so much Of the act ent-
lied Gan act to provide for the redemp-
tion Of the three per centum Temporary
loan certificates, aud for an ipcresse of
national bank notes as provides that no
circulation shall DO Withdrawn, under the
provisions of section of said act, until
after the $54, 900, 900 granted in section |
of said act shall have been taken up, is
hereby repealed, aud it shall be the duty
of the comptroller OF the currency, under
the direction Of the secretary Of the
treasury, to proceed forth with, and he 10
hereby authorized ana req aired, from
time to time, as application shall BIO duly
made therefore and until the full amount
Of tho s5i, 100000 shall be Withdrawn, TO
make requisiton on each OF the national
bsnks described in said section, and in
tie manner therein provided, organized
IN states having an oxcess of circulation.
to withdraw and return so much of this
circulation Ms by said act may DO appor-
toned TO DO withdrawn from them, or in
lieu thereof to deposit in the treasury OF
the United States lawful money sufficient
TO redeem such circulation, and upon the
return OF the circulation required, or the