Year: 1863




the United States penalty of two per eentum up


on its entire capital stock to be recovered for the


Of the United States in any court OF competent
T Jurisdiction.


5 Sec. 80. And be it further enacted, Tha. after


any such association shall have caused its promise
D TO pay such notes On demand to be signed by the


president viee-presidsnt and cashier thereof in
e such manner as to make them obligatory prOmis-
sorry notes, payable demand at its place Of bust


ness such association Is hereby authorized to issue
and circulate the same as money! and the same
shall be received at par all parts Of the United


States in payment of taxes excises public lands and


all other dues Of the United States except for du-


ties on imports and also for Il salaries and other


debts and demands owing by the United States ex-


eept interest public debt; and no such association


shall issue post notes any other notes TO crcuats
money, than such are authorized by the f0rgo-
ing provisions of this act.


Sec. q And be it furthes enacted, That all


transfers Of the United States bonds which shall be


made By any association security for circulating
notes under the provisions Of this act shall made
to the treasurer ef the United States, with mem


Orandum written printed the certificate Of such


bonds and signed by the cashier or sum olher officer


OF the ASSOCIATION making the deposit stating that it
Is held trust for the ISOLATION whose behalf
such transfer is made, and security for the re-
demption and payment Of the circulating notes de-


vered to such association; and no transfer Of any
such bonds by the treasurer shall be deemed valid


OF Of binding force and effect unless sanctioned By
/


rency upon the treasurer. 1t shall be the duty of
the comptroller of the currency to keep in his Office
book In which shall be entered the name Of every
association from whose account such transfer is
made unless such transfer is made in blank in which
case the fact shall be stated IN said book, nd In
either case the par value Of the bonds so transferred
shall be entered therein and it shall be the duty of
the comptroller Immediately upon cOunterSigniDg
and entering the same, to advise by mail the assO-
citation from whose account such transfer was mlde
hal ind h,r- Il -,
ferred.


Sec. 21. And be it further enacted, That it shall
be the duty Of the comptroller of the currency to
cOuntersign and enter. in the book in the manner
aforesaid every transfer assignment of any bonds
held by the treacurer presented for his signhture
and the comptroller shall have at all times during
oee hours to the books Of the treasurer for
the purpose Of ascerGining the correctness of the
transfer assignment presented to him to counter


sign; and the treasurer shall have the like access to
the book above mentioned, kept by the comptroller
during Office hours to ascertain the correctness Of
the entries in the same


Sec. %, And be it further enacted, That it shall
be the duty of either the president or caShier Of
every banking association having stocks deposited
In the office of the treasurer of the United States
once In each fiscal year. and at such time or
times during the ordinary business hours said
| officers may select TO examine and compare the
bonds so pledged WI the books of said Department
and if found correct execute to the said treasurer
Il Bcdl6 stbllL8 IouIAH Inc uiuoTeul hluus
| the amounts th reOf and that the same are in the
possession and custody OF the treasurer the date
| of such certificate. Such examination may beagent
of such association duly appointed in writing for
that purpose, whose certificate before mentioned
shall be of Ike and validity as if executed Ky such
preSidvnt or cashier.


/ Sec. "a. And be it further enacted, That every
association Issuing circulating notes under the pro-
visions Of this act shall make quarterly report to
the comDtroller of the currency commencing on the
1a,- of
the organization of such association, and eOntinu-
ing the first days Of cacG succeeding quarter in every
year sheresfter which 1cport shall be-gerifsd by
the oath Affirmation Of the president and cashier
| and all Wiful false swearing in Tespec to such
port shall be perjury and subject e the punishment
prescribed by law for such Offnee. The report
hereby required shall be In the form prescribed by
ohe comptroller, and shall contain true statement
Of the condition OF the assOcaton making such re-
port before the transaction of any business on the
morning Of the day specified next preceding the
date ofsuch report Of the following items and par
ticulars to wit: Loans and discounts oYerdrafts due
! from banks amount due from the directors of the
| association real estate specie bash items stocks
bonds, and promssory notes, bills Of solvent banks
bills of suspended banks, loss and expense accounts
capital circulation, profits, amount due 20 banks,
amount due to individuals and corporations other
than banks. amount due the treasurer Of the United
! States amount due to depOsitOrs demand amOnnt
due not included under either of the avove heads.
And it shall be the duty Of the comptroller to pub


Sh full abstracts of such reports together in two
newspapers to be designated by him for that pur-
pose one in the city Of Washington and the other
in the city of New Y Ork exhibiting the items of
capital circulation. and deposits, specie and cash
items public securities and private seaurities and


the separate report of each association shall be pub
lished in newspaper published in the place where
| such association is established If there be no
newspaper at such place, tnen in a newspaper pub


shed at the capital nf the State at the expense of
the association making such reyOrt, In addition to


the quarterly reports required by this sectiOn every
association located and doing business in the cities
! Of Boston, Providence, New York, Philadelphia,
Baltimore Cincinnati, Chicago, St. Louis and New
Orleans shall publish or cause to be published, On
the morning of the first Tuesday in each month, in
each month in a newspaper printed IN the city In
which the association making such seport Is located
to be designated by the comptroller OF the currency
statement, under the oath Of the president or
cashier, showing the condition of the association
making such statement, on the morning of the day
next preceding the date of such statement, res
pect the following items and Particulars to wit:
average amount Of loens and discounts specie, ee-
pOsits, and circulation.


Sec, 25. And be it further enacted. That if any
such association shall at any time fail to redeem IN
! the lawful money of the United States, any OF 1t
circulating notes, when payment thereof shall be
/ lawfully demanded during the usual hours Of busl-
nrss the Office of such assoca tion. the holder may
cause the came to be protested in one package, by
a notary public unless the pesident or cashier OF
the association shall offer to waive demand and no.
tee of the protest, and shall in pursuance Of such
offer make: sign and deliver to the pHrty making
such demand an admission in writing, stating the
time Of the demand the amount demanded and the
fact of the nonpayment thereof; and such notary
public, on making sush protest, upon receiving
such admission, shall forthwith forward such ad-
mission shall fothWi th forward such admission or
notice Of protest to the comptroller of the eurrency
and after such default it shall not be lawful Tor the
association suffering the same to pay out any OF Its
notes. discount any notes or bills otherwise prose-
the business Of banking Texcept to receive and
safely keep money belonging to it. and TO deliver
special deposits, Provided however; Tnat II salts
factory proof be produced to such notary puOc tnat
the payment of any such notes is restrained by or
der Of any court Of competent Jurlsdicslon s1eh no
tsrv public shall not protest the same; and when
the holder of such notes shall cause than one
noe or package to be protested the same day, he
shall not receive pay for more than one protest.
Sec. 10. And be it further enacted, That on re-
ceivng notice that any such association has failed
to reieem any Of It's circulating notes, as specIhed
in the next preceding section the comptroller OF
the currency, with the concurreEee OF the Secretary
Of the Treasury, may appoint special agent. OF
whose appointment immediate notice shall be given
to such association, who shall Immediately pToeeed
to ascertain whether such assOcsati0n has refused to
pay its circulating notes. the lawful money Of the
United States when demanded as aforesaid and re-


port to the comptroller the facts so ascerained and
if from such pratest or the reports so made the
ptrOer shall be satisiep that such association has
refused to pay its circaatn notes aforesaid and
is in default he shall within thirty days after he
shall have received notice Of such failure, declare
the United States bonds and securities pledged by