CONGRESS, U. 6. 



299 



money ; and the same shall be received at par in all 

 parts of the United States in payment of taxes, ex- 

 cises, 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, corporations, and associ- 

 ations within the United States, except interest on 

 public debt ; and no such association shall issue post 

 notes, or any other notes to circulate as money, than 

 such as are authorized by the foregoing provisions of 

 this act. 



SEC. 21. And be it further enacted, That all transfers 

 of United States bonds which shall be made by any 

 association as security for circulating notes under the 

 provisions of this act, shall be made to the Treasurer 

 of the United States, with a memorandum written or 

 printed on the certificate of such bonds, and signed by 

 the cashier, or some other officer of the association 

 making the deposit, stating that it is held in trust for 

 the association on whose behalf such transfer is made, 

 and as security for the redemption and payment of the 

 circulating notes delivered to such association ; and 

 no 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. It shall be the 

 duty of the Comptroller of the Currency to keep in his 

 office a book in 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, unless such 

 transfer is made in blank, in which case the fact shall 

 be stated in said book, and in either case the par value 

 of the bonds so transferred shall be entered therein ; 

 and it shall be the duty of the Comptroller, immedi- 

 ately upon countersigning and entering the same, to 

 advise by mail the association from whose account 

 such transfer was made, the kind of bonds and the 

 amount thereof so transferred. 



SEC. 22. And be it further enacted, That it shall be 

 the duty of the Comptroller of the Currency to coun- 

 tersign and enter in the book, in the manner aforesaid, 

 every transfer or assignment of any bonds held by the 

 Treasurer presented for his signature ; and the Comp- 

 troller shall have at all times during office hours ac- 

 cess to the books of the Treasurer for the purpose of 

 ascertaining the correctness of the transfer or assign- 

 ment presented to him to countersign ; and the Treas- 

 urer shall have the like access to the book above men- 

 tioned kept by the Comptroller during office hours to 

 ascertain the correctness of the entries in the same. 



SBC. 23. 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 of- 

 fice of the Treasurer of the United States, once or more 

 in each fiscal year, and at such time or times during 

 the ordinary business hours as said officer or officers 

 may select, to examine and compare the bonds so 

 pledged with the books of said Department, and, if 

 found correct, to execute to the said Treasurer a cer- 

 tificate setting forth the different kinds and the 

 amounts thereof, and that the same are in the posses- 

 sion and custody of the Treasurer at the date of such 

 certificate. Such examination may be made by an 

 agent of such association, duly appointed in writing 

 for that purpose, whose certificate before mentioned 

 shall be of like force and validity as if executed by 

 such president or cashier. 



SEC. 24. And be it further enacted, That every asso- 

 ciation issuing circulating notes under the provisions 

 of this act shall make a quarterly report to the Comp- 

 troller of the Currency, commencing on the first day 

 of the quarter of the year next succeeding the organi- 

 zation of such association, and continuing on the first 

 days of each succeeding quarter in every year there- 

 after, which report shall be verified by the oath or af- 

 firmation of the president and cashier ; and all wilful 

 false swearing in respect to such report shall be per- 

 jury and subject to the punishment prescribed by law 

 for such offence. The report hereby required shall be 

 in the form prescribed by the Comptroller, and shali 



contain a true statement of the condition of the asso- 

 ciation 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 

 ibllqwing items and particulars, to wit : loans and dis- 

 counts, overdrafts due from banks, amount due from 

 the directors of the association, real estate, specie, cash 

 items, stocks, bonds, and promissory notes, bills of 

 solvent banks, bills of suspended banks, loss and ex- 

 pense account, capital, circulation, profits, amount due 

 to banks, amount due to individuals and corporations 

 other than banks, amount due the Treasurer of the 

 United States, amount due to depositors on demand, 

 amount due not included under either of the above 

 heads. And it shall be the duty of the Comptroller 

 to publish full abstracts of such reports together in 

 two newspapers, to be designated oy him for that 

 purpose, one in the city of Washington and the other 

 in the city of New York, exhibiting the items of cap- 

 ital, circulation, and deposits, specie and cash items, 

 public securities and private securities ; and the sepa- 

 rate report of each association shall be published in a 

 newspaper published in the place where such associa- 

 tion is established, or, if there be no newspaper at such 

 place, then in a newspaper published at the capital, of 

 the State, at the expense of the association making 

 such report. In addition to the quarterly reports re- 

 quired by this section, every association located and 

 doing business in the cities of Boston, Providence, 

 New York, Philadelphia, Baltimore, Cincinnati, Chi- 

 cago, St. Louis, and New Orleans, shall publish or 

 cause to be published, on the morning of the first 

 Tuesday in each month, in a newspaper printed in the 

 city in which the association making such report is lo- 

 cated, to be designated by the Comptroller ot the Cur- 

 rency, a statement, under the oath of the president or 

 cashier, showing the condition of the association mak- 

 ing such statement, on the morning of the day next 

 preceding the date of such statement, in 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 law- 

 ful money of the United States, any of its circulating 

 notes, when payment thereof shall be lawfully demand- 

 ed, during the usual hours of business, at the office of 

 such association, the holder may cause the same to be 

 protested, in one package, by a notary public, unless 

 the president or cashier of the association shall offer 

 to waive demand and notice of the protest, and shall, 

 in pursuance of such offer, make, sign, and deliver to 

 the party making such demand an admission in writ- 

 ing, stating the time of the demand, the amount de- 

 manded, and the fact of the non-payment thereof; and 

 such notary public, on making such protest, or upon 

 receiving such admission, shall forthwith forward such 

 admission or notice of protest 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 otherwise 

 prosecute the business of banking, except to receive 

 and safely keep money belonging to it, and to deliver 

 special deposits : Provided, however, That if satisfacto 

 ry proof be produced to such notary public that the 

 payment of any such notes is restrained by order of 

 any court of competent jurisdiction, such notary pub- 

 lic shall not protest the same ; and when the holders 

 of such notes shall cause more than one note or pack- 

 age 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 receiv- 

 ing notice that any such association has failed to re- 

 deem any of its circulating notes, as specified in the 

 next preceding section, the Comptroller of the Cur- 

 rency, with the concurrence of the Secretary of the 

 Treasury, may appoint a special agent (of whose ap- 

 pointment immediate notice shall be given to such as- 

 sociation), who shall immediately proceed to ascertain 

 whether such association has refused to pay its circu- 

 lating notes, in the lawful money of the United States, 



