Year: 1869

to recommend the rejection of the Ala


bRma claim treaty.


An effort will be made tomorrow to
| go into an executive session to con-


slider these reports.


The President nominated to day,


General NJ. F. Smith, to be Consul
General at Havana and HoratiO Fox,


Consul at Trinidad, Cuba.


The following is the Banking bill as
| it passed the House:


Be IL enacted &C., That every National


Banking Association selected as a
depository OF public moneys'under the
provisions of section As of the act entitl-
ed Gan act to provide National Cur
rency, &C.," shall deposit United States
bonds with the Treasurer of the United
States as security for such deposits, and
whenever the public moneys deposited
in such Association shall exceed 80 per
cent. of the bonds so held by the Tresu-
rer as security, it shall be the duty OF
the Treasurer forthwith, by draft or
otherwise, to reduce the amount; such
amount not to exceeding 90 per cent. of
the bonds deposited as hereinafter
sociation In the city of Washington
or in any city or town where there Is an
Assistant Treasurer of the United
States or depository of public money,
designated under the act OF August 9th,
1864, shall not be selected as public
u6pOSlSOElGS anu TIE EO6SLOtAIy O4 LA0
Treasury shall require all public
moneys collected in any such city or
town to be deposited by the officers
having custody of such money with the
Treasurer or Assistant Treasurer or
depository in such city or town, under
such regulations as he may from time
to time prescribe, and if any officer or
agent of any Association designated as
depository of public moneys
shall pay or offer to pay any
money or other valuable consideration
directly or Indirectly, for the purpose
of obtaining or retaining deposits of
public moneys, or if any officer or
agent of the government shall receive
any money or other valuable consider
alton directly or indirectly for max
ing such deposits of public moneys,
such officer or agent shall be deemed
guilty OF misdemeanor, and on con-
viction in any Court having jurisdic
ton, shall be punished by fine of not
less than $1,000, or imprisoned for not
less than one year nor more than five
years, or both, in the discretion of the
Court.


SECTION 2, And be IL further enacted,
that section AZ of said act, be so amend
ed as to provide that within ninety
days from date of the notice served up
on the Comptroller of Currency by any
National Banking Association that It's
share holders have voted to go into
liquidation as provided in said section,
the said association shall pay over to
the Treasurer OF the United States the
amount Of its outstanding notes in law
full money of the United States and
take up the bonds which said associa-
ton has on deposit with the treasurer
for the security of it's circulating notes,
which bonds shall be assigned the
bank in the manner specified in the
10th section of said act. In default of
which tho Commit roller nf (fuFFPnRV
shall sell said bonds to the highest bid
ders at public auction at the Stock Ex-
change in the City of New York, and
from the proceeds thereof shall pay over
to the Treasurer of the United States
in lawful money, an amount equal to
ISOLATION, and shall pay over any
surplus remaining to officers ofthe as.
sociatiOn and any association which has
heretofore gone into liquidation under
the provisions OF section =, to which
this is an amendment, shall pay into
the treasurer, lawful money equal in
and to its outstanding circulation with
in 80 days from the date of the passage
of this act; In default of which its bonds
shall be sold as above provided and
from that time the outstanding notes
shall be redeemed at the treasury, and
thereof shall be discharged from all
liabilities therefor, provided that any
association dividing up its affairs for
the purpose of consolidation with
another bank, shall not be compelled
to pay to the treasurer the amount of
Its outstanding circulation in lawful
money, nor shall its bonds be sold as
above provided.


SECTIONS. Refer to the appointment,
the duties, &C.. of Receivers.


SECTION 4. Afd be it further enacted,
To insure better distribution of the
National Banking Currency, that there
may be issued circulating notes to
Banking Associations, organized in
States and Territories having less
banking circulation than their pro rata
above, rs herein authorized, shall,
within three years If required, be with
drawn pro rate from banks organized
in States having circulation exceed
Ing that provided for by the Act, entitled
An Act. to amend An Act entitled An
Act to provide for National Currency
secured by pledge OF United States
bonds, and to provide for the circula
ton and redemption thereof; approv- |
ed March 3rd, 1865; to ascertain which
the comptroller of currency, shall, un-
der the direction of the Secretary or the |
Treasury make statement showing
the amount of the circulation to be re-
tired by each of such banks, and shall,
when circulation is required make a
requisition for such amount on such
bank, commencing with the banks in
States having the largest excess of
circulation and reducing only the cir.
culation of those having the greatest
proportion in excess, leaving undis.
tur bed those having smaller proper
ton, until those in greater excess have
been reduced, and thus continue to
make the reduction having an excess
until the circulation OF such bank shall
be as nearly as possible equalized
among the States and Territories &C
cording to the appraised value of all
property, real and personal, within
such States and Territories; the same to
be ascertained by the certified state.
ment of the Governors of such States
and Territories, made by the Secretary
of the Treasury; provided that this act
shall not apply to over one hundred
and City million dollars of said cir
culation, which shall be distribu-
ted according to the representation
in Congress and upon the failure of
such bank to return the amount SO re-
quired within one year, as aforesaid, it
shall be the duty OF the Comptroller OF
the Currency to sell at public auction,
(having given twenty days notice in a
newspaper printed In Washington and
New York City,) an amount of bonds
deposited by said bank as security for
its circulation, equal to the circulation
to be withdrawn from such bank, and
with the proceeds to redeem SO many
notes of said bank as may come into
the treasury, as will equal the amount
required from it; provided the Circula-
ton herein authorized shall be issued
as the circulation is Withdrawn, SO that
the aggregate OF circulation shall not
at any time exceed three hundred mill
lions of dollars.