The herald and news. [volume] (Newberry S.C.) 1903-1937, 1908-06-16

Occ. IL. lnat section Oll2 OF the
revised statutes be, and the same is
hereby, amended to read as fol-
lows:
"Sec. 5172. In order to furnish
suitable notes for circulation, the
comptroller Of the currency she'll, un-
der the direction of the secretary of
the treasury, cause plates and dies
to be engraved, in the best manner to
guard against counterreiting and frau
dulent alterations, and shall have
printed -thcrcfrom, and numbered,
such quantity of circulating notes, in
blank, of the denominations of $5,
$40, $50, $50, 800, $500, 81 900 and
$4,000, as may be required 10 supply
the associations entitled to receive
the same. Such notes shall state up
on their face that they are secured
by United States bonds or other Sc
curitics, certified by the written or en-
"ravcd signatures of the treasurer
and register and by the imprint of
the seal of the treasury. They shall
also express upon their face the pro
mise Of the association receiving the
same to pay on demand, attcstcd by
the signature Of the president or vice
president and cashier. The comptrol-
lcr Of the currency, acting under the
direction Of the secretary Of the trca-
Sury, shall as soon as practicable
cause to he prepared circulating notes
III blank, registered and countcrsiwn-
cd, as provided by law, to an amount
equal to fifty per ccntum of The capi-
tai stock of each national banking
associations: such notes to be deposit
cd in the treasury or in the Subtrca-
Sury of the United States nearest the
and to be held for such association,
subject to the order Of the comptrol-
Ter of the currency. for their delivery
as provided by law: Provided, That
the comptroller of the currency may
issue national bank moycs of the pre-
sent form until plates can be pre-
pared and circulating notes issued as
above provided: Provided, however,
That in no event shall bank notes Of
the present form be issued to any
bank as additional circulation pro-
vidcd for by this act
See. ~. That circulating notes of
national banking associations, when
presented to the treasury for rcdemp-
ton, as provided in section 3 Of the
act approved June 20, 1874, shall be
redeemed in lawful money of the
United States.
See. l3. That all acts and orders of
the comptroller Of the currency and
the treasurer Of the United States all
thorizcd by this act shall have the ap-
proval of the secretary of the trca-
! sury who shall have power, also, to
make any such rules and regulations
and exercise such control over the or
%anizat!on and management of ma
tlonal currency associations as may
poses of this act.
Sec. IT. That the provisions of sec
ton 5l9l Of the revised statutes. with
reference to the reserves Of national
banking associations, shall not apply
to deposits of public money by the
United States in designated dcposi-
tarics.
See. =. That all national banking
associations designated as regular de-
positaries of public money shall pay
upon all special and additional de-
posits made by the --crctary Of the
treasury in such depositaries, and all
such associations designated as tenn
porary depositarics or public money
shall pay upon all sums of money de,
posted in such associations interest
at such rate as the secretary of the
treasury may prescribe, not less
however, than one per centum pei
annum upon the average monthly
amount Of such deposits: Provided
however, That nothing contained il
this act shall be construed to change
or modify the obligation Of any asso,
citation or any of its officers for the
safe-keepins of public money: Pro
vidcd further. That the rate of in
tcrcst charged upon such deposits
shall be equal and ".rf"Im through
ont the United States.
Sec. l6. That sl,.:i sufficient tr
carry ont the purposes Of the pre-
ccding sections Of this act, is hereby
appropriated out Of any money ir
the treasury not otherwise apprO