470 THE IMPENDING REVOLUTION. 



"Approved January 19, 1873. See Laws relating to 

 Loans and the Currency, p. 212. ' ' 



SECTION 3. That section five thousand one hundred 

 and seventy-seven of the Revised Statutes, limiting the 

 aggregate amount of circulating notes ol national banking 

 associations be, and is hereby repealed; and each existing 

 banking association may increase its circulating notes in 

 accordance with existing law without respect to said aggre- 

 gate limit; and new banking associations may be organ- 

 ized in accordance with existing law without respect to 

 said aggregate limit. Approved January 14, /<?7J. See 

 Laws relating to Loans and the Currency, page 144. 



SECTION 5150. Every association, after having com- 

 plied with the provisions of this title, preliminary to the 

 commencement of the banking business, and before it shall 

 be authorized to commence banking business under this 

 title, shall deliver to the Treasurer of the United States, 

 any United States registered bonds, bearing interest, to an 

 amount not less than $30,000 and not less than one- third 

 of the capital stock paid in. 



SECTION 5. * * * The comptroller of the cur- 

 rency shall give to any such association powers of attorney 

 to receive and appropriate to its own use the interest on 

 the bonds which it has so transferred to the Treasurer. 



SECTION 5171. Upon a deposit of bonds as pre- 

 scribed by sections fifty-one hundred and fifty-nine and fifty- 

 one hundred and sixty, the association making the same 

 shall be entitled to receive from the comptroller of the 

 currency circulating notes of different denominations, in 

 blank, registered and countersigned as hereinafter provided, 

 equal in amount to ninety per centum of the amount of 

 bonds at the par value thereof, if bearing interest at the 

 rate of not less than f:ve per centum per annum. 



Be it resolved, etc. , That the secretary of the treasury 

 be authorized to anticipate the payment of interest on the 

 public debt, by a period not exceeding one year, from time 

 to time, either with or without a rebate of interest upon 



