River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1897-12-23

authorized by said act than the silver hul-
cha sed with said notes.
Sec 8. That the secretary Of the treas
ceive at the treasury any Of the outstaud-
ing bonds known as the five pCTceutuu
bonds OF tsJ4 ana me IoLf IGn con
act approved January T. 1879. and the acts
approved July u. $50, end January =.
coupon or registered bonds Of the United
States ia sNCl form a. he may prescribe in
denomiratious Of $50 or some multiple of
ss'ESs99aiIv and redee.nab.e al The pleasure
Inc date III their issue. and the bonds here
by authorized shall he payable, principal
OF the present STANDARD value, and shall
he exempt from all taxation by or under
state, municipal or local authority; pro-
shall he received at 4 valuation greater
than u present worth 70 yield an IN
come Of 2i4 percentum per annum, and that
the bonds hereby authorized SHAH be issued
at not less than par.
Sec. = That the bonds authorized by
this act, and any other bonds Of the
United States. may be deposited with the
treasurer of the United States as security
ms associations: ana aay national A1nt.ts
association WEicu may deposit tbs houts
.rUrity for its circulating notes SAHl be ea-
titled 10 receive from the comptroller Of
20 an amount equal 70 ne face value OF
such bonds, provided that the aggregate
amount Of bonds deToslted 5y any ma
tioEal banking ASSOCIATION unoer any law
shan not exceed the amount of its capltal.
and proVi1td further that nothing herein
contained shall he construed tc modify or
reUeal the provisions Of section 5l61 and
section SIN OF the REVISED Statutes, au-
fhorizing the comptroller OF the currency
~ ~ tnrs Ma Ia secure tbe ciTctIlat5ngs
aFaa "a. tnf 81 ~ u
circulating notes outstanding Tor Mhich
ruch bonds uay De deposited as security
sOciatiUu. whose deposit Of bonds is less
than Tie amount 81 its capital, may Ce-
post with the treasurer Of the United
States. under sucn regulations as the Sec
rotary Of the treasury may approve, Ihited
States notes, treasury notes Ct 1879 ana
silver certificates, ana sHait be emitted 10
receive from the comptroller OF the cur
reuCy ana to issue an equal amount OF its
sn'otiSt 81 bonds United States notes.
deposited BY any national banking as
ISOLATION shall net exceed the amount Of
of United States ugt.s. treasury notes of
1890 and silver certiicates deposited with
authority Of this section SHAH not exceed
the sum Of 500 eco
See .. Tuat IBr secretary OF the treas
ury snail issue from time TO time. Ia his
discretion. bonds Of the same class and
character as those described IN tie third
section OF this ACT Gnd small substitute
the same Nth the treasurer Of the Uuiteg
States Tor tqua, amounts of tile United
States notes. treasury notes Of 1890 and
silver certificates deposited by national
banklu- associations, and the bonds 50 is
sued and substituted shau be charged TO
the respective national banking ussUcia-
tons and be accounted for By them, at
such prices. mol less than par, a. shall
represent tle EafSe' Waite q sucl bonds,
and the United States notes, treasury
notes CT 1899 AID silver CERTIFICATES re-
leased as hrren provided sral hscume q
he secretary Of the treasury IS hereby uu-
thOrized to exchange any Uf said treasury
notes of 1922 and said silver certificates
Tor like amount of United states notes.
provided that the amount OF bonds issued
under The authority .2f this section SHAH
not exceed tNe sam Of s. Gee
Sec. l. " hen any Aa,.-t..I bank BOW
existing or hereafter organized shaI have
States notes, Ltea 1ly notes o. 49, " sd
tban % per ceniun q us capital, u s5Dt
be eutittd u receive from the ceHiptTolIer
OF tie currency. ana 10 issue ratiOaat bank
notes, n addition to the 50 Per ceatu5a tnus
sue. GepCsts, but the circular On ssled
by any 0rt!OEai bai.-.Tg association shall
stock. ana tnc sIdi3iouai noe Is issutd
an not be secured y SAID deposit, but
maiGjrs assets OF tre association is-dius
such notes. Upon tire iaitus- q any aseCCi-
aton 70 redeem rs cittga!s5,Ts #9.ez .s
against DEPOSITED security 90 aSa LIST -"u-
eTal assets tie same SHAH Sc 3 gtly re-
deemed b. tae treasurer Of the United
res 70 secure the Emitted States against
any Joss arising ircin T, guar anty 20 pay
notes il shall! be the du:y ct tae conn rqiier
Ct tie currency 10 levy r@cn ana collect
issuing such unsecured circulation tax -
The rate OF Two per Centum Der aHAnin
Of two pr cerium perananm shall 81 paid
TO he treasurer II tie IHttq states 20
eqnll semi-aunual payne. KS u January
aud July Of eacn year ana Whca SO col
iect "a IL shall constitute safety tCEL gNi
Of l. nich the Emitted States shall! he reim-
cured circulation ii may make herein
provided. The safety fuad thus created
Shall be Invested by the secretary Of tge
may consider advisable. SAD lax OF .%'
Tcr centum per anuum shall De IN add
centum per auuum en- circulating notes
hereinafter authorized.
Sec. s. That each national banking as
the treasury Of the United States sum
If lawful money tfual 10 yen W egnsui4
Of its aggregate. circulation said SUN ~
ba In lieu of The five Eyreeutum redemption
fund now required ~ section : q the act
approved June 20. 1873. 20 be maintained
ana 10 lie subject TO all the provision of
fiHnd not Inconsistent with The provisions
OF this act. and In cc1stleratiuu of itc
deposits IL bonds, United States noses.
treasury notes IL 1919 and SILVER cer;.H-
ne unse cured circuiatirc notes q tie-4l
banking associations, ana Cf tne deposit
q r. ia tsi,5 m tSs g ged sa,es Is hereby
pledged 90 the redemption -u lawful money
- the United states % ait lHe fFGN4-tl-
ing notes Of SAID national haHh'A- as-9----
see j. That The comptroller of tn- cuI-
reucy snail rot issue 10 any national la4k-
this act shall tdEe eject, any 90 if,s rt4tt'-
lating notes oI such association of less ue-
domination man TEL dollars. ana whenever
amy circulating noses 90 less -e..-ti.4. att|a
tbS3n len dollars shat. be- redeemed or re-
tF.fa III fl
states, they shall be Cancelled aud de-
stroyed. and other notes u lawful den0m-
'na s s.oh7 I5 SIN That On and tier tie date when
this act snail sake effect. ife c!rcuiauuS
STATES assistant treasurer, ID the. city Of
ury Offices as tnes ~ ues'eA aste ~ We
comptroller Of the currency N4t4 the ap-
prevail Of The secretary Of { ls treasury
And the circulating notes OF Wnieh nal0nat
6aukfu- associations 50 redeemed shall he
charged - the ten per cchtun redemption
fund OF such Associations under such rsgG-
isfi6rs ss may be prescribed by he comp
rroller al the currency with Use appFOFal OK
tbe secretary Of the treasury.
sec ia mat ia iiru ~ di4 eAlsiit4s taAta
every usai0uai banking association lssulhs
notes shall pay 70 the treasure q -
- Jily 81 each year tax o. One-fourth
Of one uerceutum for eaca -all year uPyA
c-1IiIation. Provided. however, that during
all the period % -iIne j ~ st--i-.-s -.
z ia =
my notes and silver certificates, and the
Substitution Of bonds by the secretary q
16S treasury, al IN this act prov}oe4 tne
circuIsring notes specifically issued mere
f@r and secured by said United states
notes. treasury notes OF sltEeI sIt5il.a ~, ~
sb5u be exemp; from taxation under the
provisions Of this act. r.-s s,..+
ttes SHAH be amended 20 read as follows;
NO association saaI De G5S6aal~ea ~lyis
shat banks with a capital OF not less
tbsn s50Gg may, with the approval OF the
secretary Of the treasury. be orfsa nized ~
e1v piace. the population OF hich does
az eEySsed 600 Inhabitants, and except
fSat banks with capital Of nt less tnan
S95 mn may. with the approval or the sec
rsfarv on The treasury. be organized 70 any
MAJ he population % which does not
sxreed 2 ESQ inhabitants.
.'-This act snail take effect cn ana aIler
the day oils. and ~ acts ana pafLs
~ acts Inconsistent WITH ii.e pFoFlsi9fs
OF this act are hereby repealed