Page:United States Statutes at Large Volume 35 Part 1.djvu/569

 SIXTIETH CONGRESS. Sess. I. C11. 229. 1908. 55] an additional tax of one per centum per annum for each month until a tax of ten per centum per annum is reached, and thereafter such tax of ten per centum per annum, upon the average amount of such notes. Every national banking association having outstanding circulating _M¤¤th1y returns of notes secured by a deposit of other securities than United States bonds €K(§°:,“t{¥Et§f §E,1{§§ shall make monthly returns, under oath of its president or cashier, to ‘°°“dS· the Treasurer of the United States, in such form as the Treasurer may prescribe, of the average monthly amount of its notes so secured in circulation; and it shall be the duty of the Comptroller of the Currency to cause such reports of notes in circulation to be verified by examination of the banks’ records. The taxes received on circulating notes U¤•¤<>f¤t3=<>¤¤¤ notes secured otherwise than by bonds of the United States shall be paid iiliiigiidsiiiitiéghiititdgf into the Division of Redemption of the Treasury and credited and added to the reserve fund held for the redemption of United States and other notes." Sec. 10. That section nine of the Act approved July twelfth, eight- 1Qf;ifi¤gjim¤l¤gg>g¤_;· een hundred and eighty-two, as amended by the Act approved March amended.p' ’ foarth, nineteen hundred and seven, be further amend)ed to read as fo ows: "Sn0. 9. That any national banking association desiring to with- S€Vgjj¥g3¤*{)¤l0,tE;s draw its circulating notes, secured by deposit of United States bonds sums bonds? in the manner provided in section four of the Act a proved June hgi£oi»i£¤p`d24iswru1 twentieth, eighteen hundred and seventy-four, is hereby authorized ¤¤<>¤¤>’· for that purpose to deposit lawful money with the Treasurer of the United States and, with the consent of the Comptroller of the Currency and the approval of the Secretary of the Treasury, to withdraw a proportionate amount of bonds held as security for its circulating notes‘in the order of such deposits: Provided, That not more than grwm 1, mn nine millions of dollars of lawful money shall be so deposited during ·°° Y 1 ' any calendar month for this purpose. "Any national banking association desiring to withdraw any of its alotés secured by circulating notes, secured by the deposit of securities other than bonds °t °"°’°°“"°S` of the United States, may make such withdrawal at any time in like manner and effect hy the deposit of lawful money or national bank D*’P°°*”- notes with the Treasurer of the United States, and upon such deposit a proportionate share of the securities so deposited may be withdrawn: [’w»,·id€d, That the deposits under this section to retire notes secured K9;¢g¤g·mm O, dg by the deposit of securities other than bonds of the United States shall posits toredeemnotcs, not be covered into the Treasury, as required by section six of an Act V"’· “‘°· *’· ““’· entitled ‘An Act directing the purchase of silver bullion and the issue of Treasury notes thereon, and for other purposes,’ approved»July fourteenth, eighteen hundred and ninety, but shall he retained in the Treasury for the purpose of redeeming the notes of the bank making such deposit." Sec. 11. That section fifty-one hundred and seventy-two of the };‘f’“S‘jf’§{,‘gf"§,,.,_ ,,_ Revised Statutes be, and the same is hereb ·, amended to read as follows: 1000. ¤¤¤·=·¤¤<1<+<1· "Sr;c:. 5172. In order to furnish suitable notes for circulation, the Er:;zr¤vi¤s Md Comptroller of the Currency shall, under the direction of the Score- pm mg' tary of the Treasury, cause plates and dies to be engraved, in the best manner to guard against counterfeiting and fraudulent alterations, and shall have printed therefrom, and numbered, such quantity of _ _ circulating notes, in blank, Of the denominations of five dollars, ten D°“°““““"°“· dollars, twenty dollars, fifty dollars, one hundred dollars, five hundred dollars, one thousand dollars, and ten thousand dollars, as may be required to supply the associations entitled to receive the same. Such _ notes shall state upon their face that they are secured by United C*““’·°""°""°“"‘Y· States bonds or other securities, certified by the written or engraved signatures of the Treasurer and Register and by the imprint of the seal of the Treasury. They shall also express upon their face the promise of the association receiving the same to pay on demand. attested by the signature of the president or vice-president and