| Show HOUSE CURRENCY BILL PASSED BY till tili U M S HOUSE OF BE APRIL 14 4 be it enacted ac f that section three of the act ennit entitled ed an act to secure a national cur currency reney rendy by a pledge or of united states bonds and to provide for the circulation and reduction thereof approved the tlde third day of june in the year 1864 be so amended that the several as therein provided for shall not hereafter be required 1 to keep on hand han d any amount of money whatever by reason or of the amount limous of their respective circulations but the money required by said section 11 to be kel kei kepl kept at all times on hand shall shail be by the amount of deposits in all ali respects as provided for in the said section sed SEC EC 2 that section 22 of the said act and tile the several amendments thereto so far tar ar as they restrict the amount of notes for circulation under said act bo be and the same are hereby repealed and that section I 1 1 of the act entitled an act to provide for the ther redemption of the t three bree per cent temporary loan certificates and for an llie lile increase rease tease of national bank notes api apt approved roved july 1870 be amended by repealing the second provision provis ion lon in said section con to taine aine dand the abt abbt entitled an act to amend i an jan act to provide provides W national currency secured by pledge of united states bonds and find to provide for circulation the and AD hed fed redemption emption thereof approved on the 3rd ard of march 1865 IW he be and tile tiie same ame is hereby repealed and sec see tion ign 21 of the original act flet to which the act last aforesaid is ann ank amendment be ad and the same ia hereby Y ie re enacted SEC 3 that every overy very or abbe to be organized under tile tiie provisions of the said wd act and of the several acts in amendment shail shall at all times keep and sud have on deposit ill hi the treasury of the united states in lawful money monty of the united states a eum kuhn equal to five beld ber bei et cent of its it circulation t R be held heid and used only nor non the redemption emp of guch sueh circulation ardd aad when the circulating notes of any any such association or associations shall be prese arese presented anted assorted or for redemption in sums of 1000 or orr a multiple thereof to the treasurer or any assistant treasurer of the united states the same samo shall ba redeemed in united states notes all notes redeemed shall be charged by the comptroller of the currency to the respective associations isau issuing the same and he shall notify r them severally on the first day 0 of f each month or oftener at his discretion of the amount of suchire dempt ions lons whereupon each assoil association so notified shall forthwith deposit with the treasurer of the united states a sum in united states state notes equal to the amount of its circulating notes so redeemed and when such redemptions ons have been so reimbursed the circulating cu notes so redeemed or if worn mutilated or defaced de faced new notes instead shall be forwarded to the respective associations 1 provided that each of the said associations shall reimburse 0 to o the treasury the costs bests of rede redemption haption and of supplying new notes note inthe place of those redeemed and the associations hereafter organized shall also severally reimburse to fo the treasury the costs of engraving or printing their circulating notes and provided further that the entire amount of united states notes notis outstanding and in circulation at any one time shall shail not exceed the sum of now authorized by existing law SEC 4 that any association organized under tinder this act or any of the acts of which this is an amendment desiring to withdraw its circulating cu notes in whole or in part may upon deposit of lawful money within the meaning of said sald acts in sums of not less iless than 1000 with the treasurer of the united states state withdraw a proportionate proportionate amount of bonds deposited in pledge for such circulation and an lie he shall bhail TC deem cancel and ana an d destro destroy y an amount of the circulating notes ot of such association equal to the amount issued upon such bonds SEC 5 that sections 31 and 1 32 3 2 of the said sald act be amended by requiring that each of the associations shall keep its lawful money reserves within lits town vaults at I 1 the place where J its fits operations of disco discount tint and aeed deposit are carri carrl c aff arnd annd all the provisions or of the sald said md requiring or of the said associations to keep nily ariy portion of its lawful money reserves elsewhere than at its own coun counter tel tei except a provided forin this act are hereby repealed gre s SEC 0 O that daoa all clitu circulating lating notes hereafter issued whenever neven the same shall shail come in aral treasury r u ry in in payin payment ent or deport kit alt for redemption demp tion or otherwise there shall bo be printed i anted under such rules and re regulations u pirt eions as the secretary or of the trea Trva treasury ury may prescribe the charter numbers of the associations by which they are severally issued |
