Page:United States Statutes at Large Volume 40 Part 1.djvu/257

 238 SIXTY-FIFTH CONGRESS. Sess. I. Ch. 32. 1917. substitute therefor other collateral of equal amount with the approval of the Federal reserve agent under regulations to be prescribed by D*;P°¤“ ‘°’ '°“‘°‘ the Federal Reserve Board. Any Fe eral reserve bank ma§_ retire mm any 'of its Federal reserve notes by depositing them with the ederal reserve_agent or with the Treasurer of the _ mted States, and such R°‘“”‘ °‘ °°“"“’”l‘ Federal reserve bank shall thereupon be entitled to receive back the collateral deposited with the Federal reserve agent for the security of such notes. Federal reserve banks shall not be required to maintain _ the reserve or the redemjition fund heretofore provided for against R°l"“" '°““°"°‘ Federal reserve notes whic have been retired. ederal reserve notes so deposited shall not  reissued except upon compliance with the conditions of an original 1ssue." _ Nm md 8**** *1** All Federal reserve notes and all gold, Bgold certificates, and lawful wm` money issued to or de ited with any ederal reserve agent under the provisions of the Illsderal reserve Act shall hereafter e held for _ such agent, under such rules and regulations as the Federal Reserve B‘Zf,Q' Board may prescribe, in the joint custodg of himself and the Federal _ reserve bank to which he is accredited. uch aglagnt and such Federal m“m‘t" reserve bank shall be jointl liable for the safe- eeping of such Federal reserve notes, old, gollll certificates, and lawful money: Nothmld th ingiherein containid, hoylvever, shall lis constiiged trcz 1t s;hFp1d- D°§°““§,.,° 5 mf era reserve agent rom e ` 0I' go ce V 08 Wl 6 Bm or Federal Reserve Board, to g0such board subject to his order gr vgth the Treasurer of the United States for the purposes authorized w. · ‘ $°,§‘{ f’§Pg’“*§· ,68 ySzc. 8. That section sixteen be further amended by adding at the ¤r¤Ag1¤d¤d- '. end of the sectionthe following: _ m¤¥Z.?dmY3$.;,.m¤ "That the Secretary of the Treasury is herebty authorized and °'“g°"" directed to receive deposits of gold coin or of gol certificates with the Treasurer or any assistant treasurer of the United States when B,,,,,,,,,,,_ tendered by any Federal reserve bank or Federal reserve Sgent for credit to its or his account with the Federal Reserve Bo ._ '1‘he Secretaariy shall prescribe by regulation the form of receipt to be issued by the reasurer or Assistant Treasurer to the Fedora reserve bank or Federal reserve agent making the delposit, and a du licate of such receipt shall be delivered to the Federa Reserve Boardp by the Treas- Pa is www urer at Washington upon proper advices from any assistant treasurer mm that such deposit has been made. Deposits so made shall be held subject to the orders of the Federal Reserve Board and shall be pay- able in gold coin or lgold certificates on the order of the Federal Reserve Board to any ederal reserve bank or Federal reserve agent at the Treasury or at the Subtreasury of the United States nearest the rmm. place of business of such Federal reserve bank or such Federal reserve ,,,,fg*'°°"”°’ °' "“°’ agent: Provided hmvecer, That any expense incurred in shipping gold to or from the Treasury or Subtreasuries in order to make such pa - ments, or as a result o making such payments, shall be paid by the Federal Reserve Board and assessed against the Federal reserve banks. °"’°" "" *"""‘°“‘· The order used by the Federal Reserve Board in making such pay- ments shall be signed by the governor or vice governor, or such other ofiicuers or members as the board may by regulation prescribe. The form of such order shall be approved by the Secretary of the Treasury. Assessment of ex- H Th · · · - - ,,,,,5,% _ _6 QXSQHSBS necessarily mcurred in carrying out these rovisions, mclu_ Eg the cost of the certificates or recei ts issued fldr de- §0S1lSS·1‘B(38lV,  all expenses incident to the handling of such itgpgsggséssgliggltsbiéxmd  the Fednirlglbilfiescirve Board and included in _ ams e severa era reserve banks. ...‘§~.°°;"‘““°° “ “* ."G<>ld d¤p<>¤¤~·> Standing w the credit of my Fedmi reserve bank with the Federal Reserve Board shall, at the option of said bank, be counted as part of the lawful reserve which it is required to maintain