Year: 1866

| Speaker OF the House OF Representatives.
CHAP. LVIu.-[CoNTINUED.l


Sec. 90 And be it further enacted That after


any such association shall have caused its prom
| ise to pay such notes on demand to be signed by


the president vice president and cashier there


promissory notes, payable demand, at its
place of business, such association is hereby


thoriZed to issue and circulate the same moh-
| ey; and the same shall be received at par in all
! parts of the United States in payment of taxes,
eXcises, public lands, and all other dues to the
United States, except for duties on imports, and
also for all salaries and other debts and demands
| owing by the United States to individuals, cor
Porations, and associations within the United
States, except interest on public debt; and no
such association shall issue post notes, any
other notes to circulate money, than such as


are authorized by the foregoing provisions OF this
act.


Sec. 81. And be it further enacted, That all
transfers of United States bonds which shall be
/ made by rny association security for circula-
ting notes under the provisions of this act shall
be made to the Treasurer OF the United States,
with memorandum written or printed on the


certificate OF such bonds, and signed by the cash
ier some other officer of the association ma


king the deposit, stating that it is held in trust


for the association Oh whose behalf such transfer
is made, and us security for the redemption and
payment of the circulating notes delivered to
such association; and transfer OF any such


bonds by the treasurer shall be deemed valid, or
OF binding force and effect, unless sanctioned by


the order or request of the comptroller of the
currency upon the treasurer. 1t shall be the dI-


ty of the comptroller of the currency to keep in


his office book i'll which shall be entered the


name Of every association from whose account


such transfer of bonds is made by the treasurer,


and the name of the party to whom such transfer


is made, unleSa such transfer is made in blank


in which case the fact shall be stated i'll said


book, and i'll either case the par value of the


bonds so transferred shall be entered thcrcin and


it shall be the duty of the comptroller, Immed-


ately upon countersigning and entering the same


to adv S by mail the association from whose ac-


count such transfer was made, the kind of bonds


and the amount thereof transferred.


Sec. -. And be it further enacted, That it shall


be the duty of the comptroller of the currency TO


counterSign and enter i'll the book, in the man


ner aforesaid, every transfer or assignment of any


bonds held by the treasurer presented for his sig


nature; and the comptroller shall have at all


times during Office hours access to the books of


the treasurer for the purpose of ascertaining the


correctness of the transfer assignment presen


ted to him to countersign and the treasurer


shall have the like access to the book above


mentioned, kept by the comptroller, during Of


flee hours to ascertain the correctness of the en-


tries in the same.


Sec. %. And be it further enacted, That it


shall be the duty of either the president cash


ier of every banking association having stocks


deposited in the office of the treasurer of the


United States, once or more in each fiscal year,


and at such time times during the ordinary


business hours rs said officer or officers may
lcct, to examine and compare tue bonds so


pledged with the books of said Department, and


il found correct, to execute the said


u certificate setting forth the different kinds and


the amounts thereof, and that the same are in the
possess ion and custody of the treasurer at the





be made by an agent of such association duly ap-
pointed i'll writing fOr that purpose, whose GER
tificate before mentioned shall be of like force
and validity as 1t executed by such president or
cashier.


Sec. "A. And be it further enacted, That every
association issuing circulating notes under the
provisions of this act shall make Il quarterly re-
| port to the comptroller of the currency cUmmcn-


cling on the first day of the quarter of the year


next succeeding the organization of such assOci-
| alton, and continuing on the first days of each
! succeeding quarter in every year thereafter, which


report shall be verified by the oath affirmation
| OF the president and cashier and all wful false
swearing in respect to such report shall he per-


jury, and subject to the punishment prescribed
by law for such offence. The report hereby re-


qulred shall be in the form prescribed by the


comptroller, and shall contain a true statement


of the condition of the association making such
report, before the transaction of any business on
the morning OF the day specified, next preceding
the date OF such report, in respect of the follow


ing items and arEiculars, to wit Loans and dis
counts, OVerdraftS due from banks, amount due
from the directors of the association, aea estate,
specie, cash items, stocks, bonds and promssory
notes, bills OF solvent banks bills of suspended
banks, loss and expense account, capital. crcu
latlon, profits, amount due to banks, amount due
to individuals and corporations other than banks,
amount due the treasurer of the United States,
amount due the depostors demand, amount
due not included under either of the abo We heads.
And it shall be the duty of the comptroller to
publish full abstracts of such reports together
in two newspapers to be designated by him for
that purpose, one in the city OF Washington and
the other in the city of New York, exhibiting the
items of capital circulation and deposits, specie
and cash items, public securities and private Sc
curities and the separate report of each associa
ton shall be published in a newspaper published
in the place where such association is established
or if there be no newspaper at such place, then
State, at toe expense of the association making
such report. In addition to the quarterly re-
ports reqnired by this section, every association
located and doing business in the cities of Bos-
ton, Providence, New York, Philadelphia, Balti
more, Cincinnati, Chicago, st. Louis, and New
Orleans, shall publish, cause to be published,
morning O Tuesday each month
in newspaper printed in the city in which the
association making such report is located to be
designated by the comptroller of the currency, a
under the oath of the president or
cashier, showing the condition of the association
making such statement, on the morning OF the
respect to the following items and particulars, to
wit: average amount of loans and discounts,
specie, deposits, 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
be lawfully demanded during the usual hours of
at the office of such association, the
holder may the same to be protested, in one
package, by notary public, unless the president
or chashier of the association shall offer to waive
demand add notice of the protest and shall, in |
pursuance of such offer, make sign, and deliver |
to the party making sucn demand an admission !
in writing stating the time OF the demand, the |
amount demanded, and the fact of the non-pay- |
ment thereof; and such notary public on making |
such protest, or upon receiving such admission, !
shall forthwith forward such admission ornotlce |
of yrotest to the comptroller of the currency: |
and after such default it shall not be lawful for
the association suffering the same to pay out any
of its notes, discount any notes or bills, or other
wise prosecute the business of banking, except |
to receive and safely keep money belonging to it,
and to deliver special deposits; Provided, how
ever, That if satisfactory proof be produced to |
such notary public that the payment of any such |
notes is restrained by order of any court of com
petent Jurisdiction, such notary public shall not
protest the same; and when the holder of such |
notes shall cause more than one note or package
to be protested on the same day, he shall not re-
ceive pay for more than one protest.


Sec. 26. And be it further enacted, That on re-
ceiving notice that any such association has failed
to redeem any of its circulating notes, speci- |


fed in the next preceding section, the comptroller