The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-02-24
FINANCE
CONTINUED from First Page,

national banking association, of any
bonds of the United States in the manner
| provided by existing law, such asSocia-
ton shall be entitled to receive from the
comptroller of the currency circulating
notes in blank, registered and counter
signed as provided by law, equal in
amount TO the par value Of the bonds so
deposited; and any national banking as
ISOLATION now having bonds on deposit
for the security of circulating notes, and
upon which an amount of circulating
notes has been issued less than the par
value of the bonds. shall be entitled upon
due application TO the comptroller of the
currency, TO receive additional circulating
notes in blank to an amount which will
increase the circulating notes held by
such association TO the par value of the
bonds so deposited, such additional notes
to be held and treated in the same way
as circulating notes of national banking
associations heretofore issued and sub
ject TO all the provisions Of the law af-
fecting such notes:
Provided, that nothing herein contained
shall be construed TO modify or repeal the
provisions of section 5167 of the revised
statutes of the United States, authoriz-
ing the comptroller of the currency to re-
quire additional deposits of bonds or Of
lawful money in case the market value of
the bonds held TO secure the circulating
notes shall fall below the par value OF
the circulating notes out standing for
which such bonds may be deposited as
security.
And provided further, that the circulat-
ing notes furnished to the national bank
ing associations under the provision of
this act shall be of the denominations pre-
scribed by law, except that no national
banking association shall after the pas
sage of this act, be entitled to receive
from the comptroller of the currency or
to issue or reissue or place in circula-
ton more than one-third in amount of its
circulating notes of the denomination of
five dollars.
And provided further, that the total
amount of such notes issued to any one
such association may equal at any time.
but shall not exceed, the amount, at such
time. of its capital stock actually paid in
And provided further, that under regu-
lations to be prescribed by the secretary
Of the treasury, any national banking as
ISOLATION may substitute the per centum
bonds issued under the provisions of this
act for any of the bonds deposited with
the treasurer TO secure circulation 1T TO
secure deposits of public money, and so
much of an act entitled, IAN act to enable
national banking associations to extend
their corporate existance, and for other
purposes" approved July u. 1882, as pro-
hibits any national bank which makes
any deposit of lawful money in order
to withdraw it's circulating notes, from
receiving any increase of its circulation
for the period of six months from the
time it made such deposit of lawful
money for the purpose aforesaid, is here
by repealed. and all other acts or parts
of acts inconsistent with the provisions
of this section are hereby repealed.
Section 10 That every national bank
ing association having on deposit, as pro-
vided by law, bonds or the United States
bearing interest at the rate of per CEN
tum per annum, issued under the provis-
ions of this act, to secure its circulating
notes, shall pay to the treasurer OF the
United States, in the months of January
and July, a tax of one-fourth of / per
centum each half year, upon the average
amount Of its notes in circulation as are
based upon the deposit of said per cen
tum bonds; and such taxes shall be in
lieu Of existing taxes on it's notes in cir
culation imposed by section 5214 Of the re-
vised statutes
Section I-That the provisions of this
act are not intended to preclude the ac-
complishment of international bimetal-
lism whenever conditions shall make II
eXpedient and practical to secure the
same by concurrent action of the lead
ing commercial nations of the world and
at a ratio which shall insure permanence
of relative value between gold and silver.
The title to be: "An act to define and
fix the standard of value: to maintain
the parity Of all forms of money issued
or coined by the United States; to refund
the public debt, and for other purposes"