CONGRESS, U. S. 



303 



pal debtors, and the gross amount of indorsers or 

 sureties. 



The statement thus made shall forthwith be trans- 

 mitted to the Comptroller of the Currency. 



SEC. 46. And be it futher enacted, That every asso- 

 ciation may take, reserve, receive, and charge on any 

 loan or discount made, or upon any note, Dili of ex- 

 change, or other evidence of debt, such rate of interest 

 or discount as is for the time the established rate of 

 interest for delay in the payment of money in the ab- 

 sence of contract between the parties, by the laws of 

 the several States in which the associations are respec- 

 tively located, and no more : Provided, however, That 

 interest may be reserved or taken in advance at the 

 time of making the loan or discount, according to the 

 usual rules of banking ; and the knowingly taking, re- 

 serving, or charging of a rate of interest greater than 

 that allowed by this section shall be held and adjudged 

 a forfeiture of the debt or demand on which the same 

 is taken, reserved, or charged ; but the purchase, dis- 

 count, or sale of a bill of exchange drawn on actually 

 existing values, and payable at another place than the 

 place of such purchase, discount, or sale, at the current 

 discount or premium, shall not be considered as tak- 

 ing, reserving, or charging interest. 



SEC. 47. And be it further enacted, That the total 

 liabilities of any person, or of any company or firm 

 (including in the liabilities of a company or firm the 

 liabilities of th several members thereof), to any asso- 

 ciation, including liabilities as acceptor of bona fide 

 bills of exchange, payable out of the State where the 

 association is located, shall at no time exceed one 

 third ; exclusive of liabilities as acceptor, one fifth ; 

 and exclusive of liabilities on such bills of exchange, 

 one tenth part of the amount of the capital stock of 

 such association actually paid in. 



SEC. 48. And be it further enacted, That no associa- 

 tion shall, at any time, pav out on loans or discounts, 

 or in purchasing drafts or bills of exchange, or in pay- 

 ment of deposits, nor shall it in any other mode put in 

 circulation the notes of any bank or banking associa- 

 tion, which notes shall not at any such time DC receiv- 

 able, at par, on deposit, and in payment of debts by 

 the association so paying out or circulating such notes ; 

 nor shall it knowingly pay out or put in circulation 

 any notes issued by any bank or banking associa- 

 tion which at the time of such pacing out or putting 

 in circulation is not redeeming its circulating notes in 

 lawful money of the United States. 



SEC. 49. And be it further enacted, That all transfer 

 of the notes, bonds, bills of exchange, and other evi- 

 dences of debt owing to any association, or of de- 

 posits to its credit; all assignments of mortgages, 

 sureties on real estate, or of judgments or decrees in its 

 favor ; all deposits of money, bullion, or other valuable 

 thing for its use, or for the use of any of its share- 

 holders or creditors; and all payments of money to 

 either, made after the commission of an act of insol- 

 vency, or in contemplation thereof, with a view to pre- 

 vent the application of its assets in the manner pre- 

 scribed by this act, or with a view to the preference of 

 one credUor to another, except in payment of its cir- 

 culating notes, shall be utterly null and void. 



SEC. 50. And be it further enacted, That if the direc- 

 tors of any association shall knowingly violate, or know- 

 ingly permit any of the officers, agents, or servants of 

 the association to violate, any of the provisions of this 

 act, all the rights, privileges, and franchises of the asso- 

 ciation derived from this act shall be thereby forfeited ; 

 such violation shall, however, be determined and ad- 

 judged by a proper circuit, district, or territorial court 

 of the United States, before the association shall be de- 

 clared dissolved ; and in case of such violation, every 

 director who participated in or assented to the same 

 shall be held liable in his personal and individual capa- 

 citv for all damages which the association, its share- 

 holders, or any other person shall have sustained in 

 consequence of such violation. 



SEC. 51. And be it further enacted, That the Comp- 

 troller of the Currency, with the approbation of the 

 Secretary of the Treasury, as often as it shall be deem- 



ed necessary or proper, shall appoint a suitable person 

 or persons to make an examination of the affairs of 

 every banking association, which person shall not be a 

 director or other officer in any association whose affairs 

 he shall be appointed to examine, and who shall have 

 power to make a thorough examination into all the 

 affairs of the association, and, in doing so, to examine 

 any of the officers and agents thereof on oath, and shall 

 make a full and detailed report of the condition of 

 the association to the Comptroller ; and the associa- 

 tion shall not be subject to any other visitoria! powers 

 than such as are authorized by this act, except such as 

 are vested in the several courts of law and chancery. 

 And every person appointed to make such examina- 

 tion shall receive for his services at the rate of five 

 dollars for each day by him employed in such examina- 

 tion, and two dollars for every twenty-five miles he 

 shall necessarily travel in the performance of his 

 duty, which shall be paid by the association by him 

 examined. 



SEC. 52. And be it further enacted, That every presi- 

 dent, director, cashier, teller, clerk, or agent of any 

 association, who shall embezzle, abstract, or wilfully 

 misapply any of the moneys, funds, or credits of the 

 association, or shall, without authority from the direc- 

 tors, issue or put in circulation any of the notes of the 

 association, or shall, without such authority, issue or 

 put forth any certificate of deposit, draw any order or 

 bill of exchange, make any acceptance, assign any 

 note, bond, draft, bill of exchange, mortgage, judg- 

 ment, or decree, or shall make any false entry in any 

 book, report, or statement of the association, with in- 

 tent, in either case, to injure or defraud any other 

 company, body politic or corporate, or any individual 

 person, or to deceive any officer or agent appointed to 

 examine the aifairs of any such association, shall be 

 deemed guilty of ^misdemeanor, and upon conviction 

 thereof shall be punished by imprisonment not less than 

 five nor more than ten vears. 



SEC. 53. And be it further enacted, That the presi- 

 dent and cashier of every such association shall cause 

 to be kept at all times a full and correct list of the 

 names and residences of all the shareholders in the as- 

 sociation in the office where its business is transacted ; 

 and such list shall be subject to the inspection of all 

 the shareholders and creditors of the association dur- 

 ing business hours of each day in which business may 

 be legally transacted ; and a copy of such list, verified 

 by the oath of such president or cashier, shall, at 

 the beginning of every year, be transmitted to the 

 Comptroller of the Currency, commencing on the first 

 day of the first quarter after the organization of the 

 association. 



SEC. 54. And be it further enacted, That the Secre- 

 tary of the Treasury is hereby authorized, whenever, 

 in his judgment, the public interest will be promot- 

 ed thereby, to employ any of such associations doing 

 business under this act as depositories of the public 

 moneys, except receipts from customs. 



SEC. 55. And be it further enacted, That all suits 

 and proceedings arising out of the provisions of this 

 act, in which the United States or its officers or agents 

 shall be parties, shall be conducted by the district at- 

 torneys of the several districts, under the direction and 

 supervision of the Solicitor of the Treasury. 



SEC. 56. And be it further enacted, That every per- 

 son who shall mutilate, cut, deface, disfigure, or per- 

 forate with holes, or shall unite or cement together, or 

 do any other thing to any bank bill, draft, note, or other 

 evidence of debt issued by any such association, or shall 

 cause or procure the same to be done, with intent to 

 render such bank bill, draft, note, or other evidence of 

 debt, unfit to be reissued by said association, shall upon 

 conviction, forfeit fifty dollars to the association who 

 shall be injured thereby, to be recovered by action in 

 any court having jurisdiction. 



SEC. 57. And be it further enacted,That if any per- 

 son shall falsely make, forge, or counterfeit, or cause or 

 procure to be made, forged, or counterfeited, or will- 

 ingly aid or assist in falsely making, forging, or coun- 

 terfeiting any note in imitation of, or purporting to be 



