Page:United States Statutes at Large Volume 31.djvu/101

 FIFTY-SIXTH CONGRESS. Sess. I. Ch. 41. .1900. 49 ‘ sum not exceeding one-fifteenth of one per centum of the face value of said bonds, to pay the expense of preparing and issuing the same and other e enses incidentt ereto. - · ·SEo. 12. That upon the deposit with the Treasurer of the United m},f;*$0<{fag*{j“g;'i;*K States, by any national banking association, of any bonds of the United posit or imag. °` States in the manner provided by existing law, such association shall be - entitled to receive from·the Comptroller of the Currency circulating notes in blank, registered and countersigned as provided by law, equal in amountto the par value of the bonds so de osited; and any national banking association now having bonds on dldposit for the security of circulating notes, and upon which an amount of circulating notes has been issued less than the par value of the bonds, shall be entitled,u(pon_ due application to the Comptroller of the Currency, to receive a di- \_ tional circulating notes in b ank to an amount which will increase the ` circulating notesheld by suchassociation to the pai; value of the bonds deposited, such additional notes to be held and treated in the same wav as circulating notes of national banking associations heretofore issued, and subject to all the provisions of law affecting such notes: Hovided, féoggvv- I d, That nothing herein contained shall be construed to modify or repeal rgqunedodli aicpiggdl the provisions of section fifty—0ne hundred and sixty-seven of the “‘}§§f §§,f‘§f‘é, p‘_9,,8_ Revised Statutes of the United States, authorizing the Comptroller of o’ . the Currency to require additional deposits of bonds or of lawful money in case the market value of the bonds held to secure the circulatin notes shall fall below the par value of the circulating notes outstanéng for which such bonds may be deposited as. security: Andi provided fvvtfwr, That the circulating notes furnished to national ciggngggnlglqna of anking associations under the provisions of this Act shall be of the g ° °S' i denominations rescribed by law, except that no national banking association shall; after the passage of this Act, be entitled to receive from the Comptroller of the Currency, or to issue or reissue or place in circulation, more than one-third in amount of its circulatin notes of the denomination of five dollars: And provided further, That the Llmlwf issue. total amount of such notes issued to any such association may equal at any time but shall not exceed the amount at such time of its capitalstock actually paid in: And provided further, That under regulations t pagka may anbsli- ' to be prescribed by the Secretary of the Treasury any national bank- rg écuggrcicxgslldaklldlrlls ing association may substitute the two per centum bonds issued under the provisions of this Act for any of the bonds deposited with the Treasurer to secure circulation or to secure deposits of publicmoney; and so much of an Act entitled "An Act to enable national banking Repeal. associations to extend their corporate existence, and for other pu1·— V°‘22’p‘1°3‘ poses," approved July twelfth, eighteen hundred and eighty-two, as prohibits any national bank which makes any deposit of lawful money in order to withdraw its circulating notes from receiving any increase of its circulation for the period of six months from the time it made _ s such de osit of lawful money for the purpose aforesaid, is hereby repealed? and all other Acts or parts of Acts inconsistent with the provisions of this section are hereby repealed. ‘ ' Sec. 13: That every national banking association having on deposit, mx on circulating as provided by law, bonds of the United States bearing interest at the ""“`“‘ · rate of two per centum per annum, issued under the provisions of this Act, to secure its circu ating notes, shall pay to the Treasurer of the United States, in the months of January and July, a tax of one·fourth of one per centum each half year upon the average amount of such of its notes in circulation as are based upon the depositof said two per cvntum bonds; and such taxes shall be inrlieu of existing taxes on its n.s.,see.s214,p.1oos. notesin circulation imposed by section fifty-two hundred and fourteen. . of the Revised Statutes. A Sec. 14. That the provisions of this Act are not intended to preclude International pi- ' the accomplishment of international bimetallism whenever conditions S§$§_‘mSm “"m°` vox. xxxr—--4 1 o