Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1874-07-02

| Treasury the charges for transportation and the
costs for asserting such notes, and The associa-
tons hereafter organized shall also generally re-
| imbursc to the Treasury the cost of engraving
| such plates shall be ordered by each associa-
| ton respectively, and the amount assessed upon
each association shall be in proportion TO the cir
culation redeemed, and be charged To the fund on
! deposit with the Treasurer And pro0ided
further, That so much of Sec. 32 of said National
Bank act recognizing or permitting the redemp-
ton of its circulating notes elsewhere than at ts
own counter, except a. provided for i'll this sec
| ton, is hereby repealed.
| SEC 4. That any association organized under
| this act or any Of the acts to which this il an
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 not less than $4,000, take up
| the bonds which said association has on de
post with the Treasurer for the security of such
| circulating notes which bonds snail be assigned
| to the banks in the manner specified in the nine
teenth section OF the National Bank act, and the
| outstanding notes of said association to an
| amount equal to the legal tender notes deposited
| shall be redeemed nj the Treasury of the United
| States and destroyed now provided by law:
| PrOJided, That the amount of the bonds on de
| post for circulation shall not be reduced below
| $4,000.
| SEC B. That the Comptroller Of the Currency
| shall, under such rules and regulations as the
| Secretary Of the Treasury may prescribe, cause
| the charter number Of the association to be
| printed upon all National Bank notes which may
be hereafter issued by him,
| SIG g. That the amount Of the United States
notes outstanding and to be issued IA a part of
! the circulating medium shall not exceed the
sum of S3S2 nO,DDD, which said sum shall appear
in each monthly statement of the public debt,
| and no part thereof shall be held or used al a
reserve.
SEC r. That so much of the act entitled 4" An act
| to provide for the redemption Of the per ccnum
temporary loan certificates. and for an increase of
| National Bank notes a. provided that no circu-
| laion shall be Withdrawn under the provisions of
Sec. of said act until after the S540IO,0o0 grant
| ed in Sec. of said act shall have been taken up
| il hereby repealed and it shall be the duty of the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 Il hereby authorized and required,
| from time TO time, as application shall be duly
made therefor, and until the full amount of the
| S5i,UoOOD shall be Withdrawn, to make requisi-
| ton each of the National Banks described in
snid section, and in the manner therein provided,
| organized in States having an excess of circula-
ton. to withdraw and return so much Of this cir
! culation a. by said act may be apportioncd to be
| withdrawn from them, or. in lieu thereof, to de
posit in the Treasury of the United States lawful
| money sufficient to redeem such circula-
| ton, and, upon the return of the circula-
ton required, or the deposit of lawful
| money, herein provided, proportionate
| amount OF the bonds held to secure the circula-
| tion of such association as shall make such re.
turn or deposit shall be surrendered 10 it..
| SEC. g. That upon the 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,
| within thirty days. the Comptroller of the Cur
rcncy shall at once sell, as provided in Sec. 40 of
| the National Currency act, approved June 3,
| 1864, bonds held To secure the redemption of the
| circulation of the association or associations
which shall 50 fail, to an amount sufficient to re-
deem the REGULATION required of such association
| or associations, and with the proceeds, which
! shall be deposited i'm the Treasury of the
| United States, so much of the circulation of
| said association or associations shall be re-
| deemed as will equal the amount required and
not returned, and If there be any excess or pro-
| ceeds over the amount required for such redemp-
tion II shall be returned to the association or az
9 jciations whose bonds shall have been sold and
| 1t shall be the duty of the Treasurer, Assistant
Treasures, designated repositories and National
Bank repositories of the United States, who
| shall he kept informed by the Comptroller of the
Currency of such associations as shall fail to re-
urn circulation required, TO assert and return
to the Treasurer for redemption the notes of such
| associations a. shall come into their hands until
| the amount required shall be redeemed, and in
like manner vo assert and return To the Treasury
| for redemption the notes of such National Banks
| as have failed or gone into voluntary liquidation,
| for The purpose of winding up the affairs of such
as shall hereafter so fail or go into liquidation.
| SEC. 9. That from and after the passage of this
act ii shall be lawful for the Comptroller of the
| sulating notes without delay, applications
| therefor are made not to exceed the sum of
S55eUDt1o, 10 associations organized, or to be
| ganizcd in those states and Territories having
| less than their proportion of circulation under an
| apportiUnmcnt made ON the basis of population
and of wealth shown by the returns of the cen
sus of 1870 aud every association hereafter organ
| lied shall be subject to and be governed by the
rules, restrictions and limitations, and possess
| the rights, privileges and franchises now or
| hereafter to be prescribed by law to national
banking associations, with the same power to
amend, alter and repeal provided by the
National Bank act: Pr0Ei8ed, That the
whole amount of circulation Withdrawn ana re-
deemed from the banks transacting business
shall not exceed S350C1NtD, and that such circu-
lation shall be Withdrawn and redeemed a. shall
be necessary To supply the circulation previously
issued to the bank, in those States having less
than their appurtionment: ipd DyOriisd. fHyfhey.
That not more than S3O,N0,O,1 shall be withdrawn
and redeemed H. herein contemplated. during the
fiscal year ending June 20, 1873.
The title of the bill is amended to read
as follows;
| " An act to fix the amount of United States
notes, provide for the redistribution of the VA.
| tiona. Bank currency, and for other purposes"