Page:United States Statutes at Large Volume 38 Part 1.djvu/285

 266 SIXTY-THIRD CONGRESS. Sess. II. C1-1. 6. 1913. be accompanied with a tender to the local Federal reserve agent of collateral m amgunt egual to the sum of the Federal reserve notes thus °”3£¥cd if “‘lr*.i“;`.i°.hP.i“‘r h‘2“.€‘§cE.E ;'§3hr$h.%‘§§?cc ?23°c§3£2E$£’£ sec us o "“"""”` under the provisions of section thirteen of this Act, and the Federal rssu an wrt w o er reserveno can e e er ·*“‘““°“**‘ °°°“'“’· rosegre bank to which he is accredited. The card Fccicccr Reserve Board may at any time call upon a Federal reserve bank for additional  to protect the Federal reserve notes issued to 1t. ,,,,‘§,°,,‘;;,f'“,,g§Z,‘§°§,§§,{’_ Every F eral reserve bank shall ma.1ntam reserves m gold or ¤¤¤<>¤· lawful mon of not less than thi.rty-five per centum against its deposits any reserves in gold of not less than forty per centum its Federal reserve notes in actual circulation and not Dg,g,,,,,,,,,,,,,,,,,,,,,_ o by gold 1`pr lawful mgney  with the hllledriral reserve agent. otes so pai out ear u n their aces a Raerve hccxcrcrc distinctive letter and serial number, which shoall be asgégred §,,,{‘°‘°’ "° "'““" by the Federal Reserve Board to each Federal reserve bank. enever Federal reserve notes issued through one Federal reserve bank shall be received biy another Federal reserve bank they shall be ,,,,,,,1,, ,,,, ,,,,,,8 promptly returned or credit or redemption to the Federal reserve ¤¢¤¤¤=¤¤¤- ank through which they were origigall issued. No Federal reserve 1;,,,,,,,,,, ,, ,1,,, bank shall pay out notes issued t ugh another under penalt of a mm! tax of ten per centum upon the face value of notes so paid out. llotes `  or redemption at the Treasury of the United States shall R t by paid out of the redelapltion fund and retruned to the Federal l'§l’V8bl¤k. rwerve banks through w thei were originally issued, and thereupon such Federal reserve bank s all, upon demand of the Secretary o the Treasury, reimburse such redemption fund in lawful money or, 1f ipch Fedgral reservaxpopgs havedlieien rgsdmlidbby the ?G8S51I°61‘ ID or o c ca, t com to be theggxtent deemed necessary b mihlauSecria1flary of the 'l"rIe 8gold mg "‘°"" or gold certi’ricates, and such Federal reserve bank shall, so long as ialpy lg? 1bS Federal rpserve notes remain outstanding, maintain with e asurer m an amount sufficient in the udglment of the Secretary to provid; for all redemptions to be mad li t Tr. Federal reserve notes received by the Treasury, gthyerwide tlrasnurfadlr redemption, may be exchanged for gold out of the redemption fund pteremafter proyigpld and ggtmnedlgo the regerve bank through which ,,0 °YW°1'°°}’18¤¤ YBS1} ct t dt hbnk .,.,¤····—····,.,_ ~· ······* for the predxt of ec ucsc stccsl ‘i—ZiccZr ?c.`§’c’$2 c0‘Zc§“.`i..c&.,. · circulation shall be returned by the Federal reserve agents to the mg dolg,-r§;1•R;:i·;: Comptroller of the Currency for cancellation and destruction. rcccmy, TheFcderal Reserve Board shall require each Federal reserve bank to maintain on deposit in the Treasury of the United States a sum m gold sufficrentm the ]udgment of the Secretary of the Treas for- the redemption of the Federal reserve notes issued to srlilzrli bank, but m no event less than five er centum; but such dc— Ream Bm to posit of gold shall be counted and includgd as part of the forty per ccmcrmasccc. piegiglm he1§in§>efdre’3uired. The board shall have the _,acing ugte er reserve entto f hl
 * °“°"" “§°"’ ih`? °.i.?h ?i{c"°$" “‘° F°d°{Z3‘ER°S°.i"i? i§“t’~ Yi “.}i
 * S81;1v9pl=:;tnk0i_•0toFe1;1e;ect entirely the apriicatibn <§md1nymF;1ei·)a‘l

_ _ r eral reserve notes; but to the extent that such application may be granted the Federal Reserve Board shall thro h itgnliocal Federal reserive a§eEt;¤iup]pIlH Federal reserve notes tolibhe c _ S°°PP5’mg¤—¤ $*16 be h d 'th h ‘"°“"· mai be established by the ederal Reserve Board and the amount of suc_ Federal reserve notes so issued to an such bank shall, upon PM, p_ R delrveryhtogether with such notes of such hederal reserve bank as may be issued under section eighteen of this Act upon security of
 * °m°b°P°id of such notes  shall pag; such rate of i1fte;;¥orlv;aidtai’11gId1h)ii]J2i.;