Page:United States Statutes at Large Volume 40 Part 1.djvu/555

 SIXTY-FIFTH CONGRESS. Sess. II. Cns. 63, 64. 1918. 537 excee one year at any one extension and ma, at his o tion a such dlelrlitigrhcates of indebtedness prior to maturitgrr, whether? or nblalsg ` extended. The deposit of United States certificates of indebtedness .n£l$?t°”°° °' °°°` by Federal reserve banks as security for Federal reserve bank notes under authority of this Act shall be deemed to constitute an agreement on the part of the Federal reserve bank making such deposit that the Secretary of the Treasruy may so extend the time of pay- ment of such certifdcates of indebtedness beyond the original maturity date or beyond any maturity date to which such certihcates of indebtedness may have been extended, and that the Secretary of the Treasury may pay such certificates in advance of maturity, whether or not so extended. Rem Sec. 6. That as and when standard silver dollars shall be coined am noxtrebsndn 3innig°é out of bullion Slpurchased under authority of this Act, the Federal §fm‘},‘j{‘§’,,§nt§fQm P“'· reserve banks all be required by the Federal Reserve Board to retire Federal reserve bank notes issued under authoréigy of section five of this Act, if then outstanding, in an amount eq to the amount of _ standard silver dollars so coined, and the Secretary of the Treasury cu$§',EY°""°‘°“ °' “" shall pay off and cancel an United States certificates of indebtedness de osrted as security for byederal reserve bank notes so retired. Tu Om gmc. 7. That the tax on any Federal reserve bank notm issued under nmn¤3$.° mm authority of this Act, secured b the deposit of United States certiii- V°*·38·P·““· cates of indebtedness or Uniteg States one-year gold notes shall be · so adjusted that the net retiun on such certificates of indebtedness ‘ or such one-year gold notes, calculated on the face value thereof, shall be equal to the net return on United States two per cent bonds, used to secure Federal reserve bank notes, after deducting the amount of the tax upon such Federal reserve bank notes so secured. LB me Sec. 8. That except as herein provided, Federal reserve bank notes va°Y%§°{;g.;m,'m; issued under authority of this ct shall be subject to all existing v‘j}f§·g;m_ provisions of law relating to Federal reserve bank notes. Expim H Sec. 9. That the provisions of Title VH of an Act approved June appu¤¤n.»¤t¤s'mn fifteenth, nineteen hundred and seventeen, entitled "An Act to pim- °°j‘,,§§f“pP‘§§'§f’°· ish acts of interference with the fore` relations, the neutrality, and the foreign commerce of the United glitters, to unish espionage, and better to enforce the criminal laws of the United States, and for other 1u·poses," and the {powers conferred upon the President by subsection "‘"· "‘ “°· lb) of section five o an Act approved October sixth nineteen hundred and seventeen, known as the "l‘r·ading with the Elnemy Aot," shall, ‘ H in so far as applicable to the exfportatron from or shipment from or Mmm" °°' taking out of the United States o silver coin or silver bullion, continue ,,,,6 ,,_ 53,, until the net amount of silver required by section two of this Act shall have been purchased as therein provide . Approved, April 23, 1918. .4 m, ms. CHAP. 64.-·An Act To authorize the Secretary of the Navy to increase the facili- [*FR· *°”‘*·l ties for the proof and test of ordnance material, and for other purposes. [rnbuc, No.140.] Be it enacted by the Senate and House ofR'1eI*presentatives ejthe United New States of America in Congress assembled, at the Secretary of the 0¤{g=¤¤¤¤ x>r¤v¤¤z Navy is hereby authorized to expend the sum of $1,000,000 or only part thereof, in his discretion, for the purpose of increasing the fac' - md - _ mes for the proof and test of ordnance material, including necessary buildings, construction, equipment, railroad, and water facilities, land and damages and losses to tpersons, firms, and corporations resulting from the procurement of e land for this purpose, and also all nccessairhy expenses incident to the procurement of said land: ,,,,,,,,,_ Pmmded, at such lands and appurtenances and improvements