The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1897-12-24
my national banking association unner 49,.

! any national banking association under ,,v,
shall not exceed the amount ~ It's capital ~.
/ provided, further, that nothing herein aa
tanned shall be construed To modify d, ~, ~,
the provisions Of section hibs and SECTION 4 4.
OF the revised statutes. authorizing IN. conr
trollrr OF the currency 10 require auaitl .nsi
pOsit Of bonds or of lawful money M r.s, NJ,
rnarket value of the bonds held 10 s..en, ~. ie
circulating notes shall fall below the par -
OF the circulating notes outstanding IN at'o
such bonds may be- deposited as security
SIC . That any national banking as,,., I,.I
whose deposit OF bonds Is less than the af,a,,.
| OF it, capital, may deposit with a. tf,.l,,'
~ the United States, under such rcxniatl.a-
the secretary of the treasury NAV nttg, -
nited STATES notes, treasury notes ~ l,lu ane
silver certificates. and shall bc entitls,l f,re
eeive from the comptroller OF the currrnty .rs
10 Issue an equal amount OF It's cIr,rl,,f..'.
notes nut the aggregate am unit Of h0aIS
! United states notes. treasury notes of issl AVA
silver certificates deposited by any uatis,.i
banking association, shall not exceed ~
amount OF It's capital. provided. that tbe f.,-I
amount OF United states notes. trcaSur, noi,'
OF 800 ana silver certificates deposited g,h
the treasurer OF the United States. under ~
thoriiy q tn section shall not exceed .hp ,usa
SIC. d That the secretary OF the treasure
shah issuse fron time To time. 10 M,
discretion. bonds q. the same elias, a-s
character as those described Ia the tlIri
section Of this act. and shall substitute th.
same with the treasurer Of the United State,
for equal amounts Of United States notes tress-
ury votes % 1851 and silver certificates dep.,it-
/ Ell by national banking associations and TIE
bonds so issued and substituted shall be chlr,,t
To the respective nstional banking assOclAtYu,
and be accounted for by them at such pr.e...
not less than par as shall represent the m4rAe.
va4ue of sucn bonds and the unitsd STATES
notes, treasury notes OF 1900 and silver t,ril-
Gates released a. herein provided shall become
part OF the general redemption fund. ani IN.
secretary OF the treasury Is hereby authorized
To exchange any of SAID treasury notes of issl
and said silver certificates for like amount ~
United states notes; provided that The amount
OF bounds ISSUED under the authority OF tnis
section shall not exceed the sum Of - OuuuO
SEC !. When any national bank now existing
or hereafter organized shall have deposited
such United states bonds, United States notes
treasury notes OF 1880 or silver certificate, n an
amount OF not less than 30 per centum W M,
capital II shall be entitled To receive from ~.
comptroller OF the currency ana 10 issue nations
al bank notes. in addition 10 the 80 Der c.ntur,
thus provided u the amount OF . per cent oI
such deposits, but the circulation is, ued br asv
national banking association shall never be b
excess OF It's pa.d-up capital stock and thu az
ditiOnal notes 50 issued shall not be SECURED ~
said deposit. but shall ccnstit ate tir,t leiu a
on all tue remaining assets OF the asSoc.atl-n
issuing such notes. Upon the failure OF any a.
sOcation TO redeem It's circulating notes above
provided. whether the same are issued against
deposited security or general assets the same
snail DC promptly redeemed by the treasurer "
the United States To secure the United states
against any loss arising from its guarant. 10
pay and redeem such additional circuL,iin,
note, II shall be the duty OF the comptroller ~
the currency To levy upon and collect from every
national banking association issuing such un.
>NNAitA LILA rate OF cent. LIZ
annum on sucn unsecured circulation: which
said Tax OF per cent. per anuum shall be u4it
to the treasurer OF the United States IN eluAl
semi-annuAl payments in January ana Iulv ~
each year, ana when 80 collected it shall cons,t-
tint safety fund, out OF wnicn the United
states shall be reimbursed for any REDEMPTION
OF said unsecured circulation it may make ~
herein provided. 1his safety fund tnus creat-
ed shall be invested by the secretary Of the
treasury IN such government bonds a. he may
consider advisable said tax OF > per cent i,er
annum shall be In addition 10 the Ia OF one
half one per ccntum per annum on circulating
notes hereinafter authorized.
SEC :. That eacn nationa. banking assoria-
ton snail deposit and maintain IN tue treasury
OF the United states u sum Of money aggreeat-
IN ~ pr centum OF its aggregate eircuiatlon
SAID sum 10 b. IN lieu OF tue ) per centuul e.
ductioa iund now required by section 8 " L.
act approved June ~. l,ss to bs maintained \
10 be subject To ali the provisions OF eNi,tlug
laws respecting said redemption fund NOT in
consistent with the provisions OF tni, act Ana
IA consideration 81 the deposit, OF bonds
United states notes treasury notes OF isy and
silver certltcate> am the tax OF per centurn
on the unsecured circulating notes Of national
banking associations and OF the depost OF law
iul money PROVIDED Ia this secti. the faith ~
the United states Is hereby pleuStd To tho re-
demption ia lawful money OF the United StateS
OF All the circulating notes Of said national
banking associations
SEC v That the comptroller OF the currency
shaii not Issue 10 any national banking assoc
ton, after the date when this net shall tax
feet. any OF the circulating notes OF sucr &c
clatlon OF less denomination than ten aseo-
ana whenever any circulating no. uou.rs.
denomination than ten dollars IS IS u les
deemed or received into the { small oe re-
United States they shall be .~asury OF the
stroyed and other notes Of ,~4ncessd and de-
lions shall De issued IN tn ar nlsc senouihA
act shall take eject no. the dase when this
national bansinga suiaLihr n4'Ies OF me
a. .ne once =, IN sta.teI states srns
other suo-tr s@ .ew YORK. AMI aLsc.at such
by the ..,.. $500 odces as may ne designated
~ -ts-tf "a
the s.w she secretary of the treasury ana
o s'rse.a'ing notes OF which National Bank
ssoetsucn so redeemed shall be charged 10
we 70 per centun redemption OF the aSsocia-
toe Nn .er sucn rules a. may be prescribed by
zee comptroller OF the currency with the APP
pfsJyal of the secretary of the treasury.
SEC H. That in leu OF ali existing taxes
every national banking association issu-
M, ,hg ,I no,es All prs 70 the treasury q
uary and July o; IA year tax Of one
fourth OF | per o.-tum for each half year
upon the average amount of its notes in
circulation; Presided. however. that during an
the period OF time intervening between the de-
post OF United States notes. treasury notes
and silver CERTIFICATES, and the substitution Of
bonds by the secretary Of the treasury IN
this act provided the circulating notes speci-
ncally issued therefore ana secured by SAID
United States notes, treasury notes or silver
certificates shall be exempt from taxation IN
der the provisions OF thisact
SIC L. section 5i3s OF the Revised Statutes
shall be amended to read as follows. No assoc
citation shaii be organized with less capital
than stODvJJ. except thai BANKS with a capital
OF not less tnan $4,000 may. with the approval
OF the secretary or the treasury be ORGANIZED
In any place. the population 81 when does
not exceed 6,JvO inhabitants: and except taat
banks with capital Of not ness than
s-SUDJ may. wi the approval OF the
sec etary 81 the treasury he organized in any
place. the population OF whicn does not exceed
2OJJ inhabitants. No association shall BE-
ganized IN city. the population OF " lien eX-
eeeds 5000 persons. with less capital than
$4,000
rms act shall take cffest on and after the
day OF -----. i-s--. and all acts and parts ~
acts inconsistent with the provisions OF this act
are hereby repealed.