Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1899-11-29

amount the same will produce In new
coin from any moneys in the treasury
not otherwise appropriated. So much of
the joint resolution approved July 26,
1876, relating to the issue Of silver coin
as limits the aggregate amount of sub
sidiary silver coin and Of fractional cur
.rency outstanding at any time to $780,
100000, be and the same is hereby re-
pealed.
Sec. Z. That the United States notes
or treasury notes issued under the act
of July IA, 1890, hereafter issued or reis-
sued shall be of such denominations, not
less than 81, as the secretary of the
treasury may prescribe. Silver certifi-
Gates shall hereafter be issued or paid
out only in denominations of 81, 50 and
S., against silver dollars deposited in
the division of issue and redemption, or
in exchange for silver certificates of de-
nominations exceeding S..
Sec. s. That section 5,159 of the re-
vised statutes be and the Same is
amended so as to read as follows:
Every association after having
complied with the provisions of this ii
tie, preliminary to the commencement
of the banking business, and before it
shall be authorized to commence bank
ing business under this title, shall
transfer and deliver to the treasurer of
the United States as security for its cir
culating notes, any United States regis
tered bonds bearing interest, to an
amount where the capital is $l50,000 or
less, not less than one-fourth of the
capital, and $4,000 where the capital is
in excess of s150,000. Such bonds shall
be received by the treasurer upon de-
post and shall be by him safely kept in
his office until they shall be otherwise
disposed of in pursuance to the provis-
ions of this title; and such of these
banks having on deposit bonds in excess
OF that amount are authorized to reduce
their circulation by the deposit of law
full money as provided by the law; pro-
vided, that the amount of such circulate
ing notes issued to any national bank
ing association having on deposit Unit
ed States bonds to secure circulation at
the passage of this act, or which may
/ hereafter be deposited such bonds to
secure circulation, shall not exceed In
] any case the par value of the bonds de-
/ posted as herein provided
TANES ON BANKS.
Section - That every national
/ banking association Shall pay to the
| treasurer of the United States, in adj
/ dition 10 the taxes imposed by an act
approved July 10, 1898, enrtled An Act
/ TO Provide Ways and Means to Meet
4 War Expenditures and for Other Pur-
4 poses, each half year in the months of
January and July, on or before the 30th
day thereof, tax of one-tenth OF per
hcentum upon the value of its franchise,
as measured by the aggregate amount
of its capital, surplus and undivided
\ profits, upon the last day the calendar
! month next preceding. Sections 5,2l4,
/ 5,2l5, 5,216 and OF. of the revised stat
4 utes are hereby repealed. But nothing
4 contained in this section shall be 50
! construed as in any manner To release
any national banking association from
any liability for taxes or penalties IN
Cured prior to the passage of this act.
In order TO enable the treasurer TO as
sess the taxes imposed by the proyls-
ions of this section, each association
shall within ten days from the first
days OF january and July of each year.
make return. under the oath of its
president or cashier, TO the treasurer OF
the United States, in such form as the
trea surer may prescribe, of the amount
of its capital, surplus and undivided
profits upon the last day of the calen-
dar month preceding. Every associa-
tion which fails to make such return
shall be liable 10 penalty of 500, to
be collected either out of the interest as
ii may become due such association on
the bonds deposited with the treasurer
or al his option, in the manner in which
penalties are TO be collected of other
corporations under the laws OF the
United states Whenever any associa-
ton fails 10 make the return herein re-
quired the taxes to be paid by such as
saciaTion shall be assessed upon such
an amount as the treasurer may deter
mine 10 be the true amount Of capital
surplus and undivided profits OF such
association. Whenever an ASSOCIATION
, fails to pay the taxes imposed by this
section, the sums due may be collected
. in the manner provided for the collec-
: ton of United states taxes from other
t corporations; or the treasurer may re-
, serve the amount out Of the interest as
: it may become due on the bonds depos.
t tied with him by such defaultlng as
9 ISOLATION.
g Section 10-That section 5,l3s of th'
e revised statutes is hereby amended 81
: as to read as follows:
il No association shall be organized
~ -,fstr toll Jtlt1 IN