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Reports to be
Comptroller of the Currency not less than five reports during each and every year, according to the form which may be prescribed by him, verified by the oath or affirmation of the president or cashier of such association, and attested by Details of reports. the signature of at least three of the directors; which report shall exhibit, in detail and under appropriate heads, the resources and liabilities of the association at the close of business on any past day to be by him specified, and shall sent to the Comp- transmit such report to the Comptroller within five days after the receipt of a request or requisition therefor from him; and the report of each association above required, in the same form in which it is made to the Comptroller, shall -also to be pub- be published in a newspaper published in the place where such association is established, or if there be no newspaper in the place, then in the one published nearest thereto in the same county, at the expense of the association; and such proof of publication shall be furnished as may be required by the Comptroller.
Additional reports of dividends and net earnings.
And the Comptroller shall have power to call for special reports from any particular association whenever in his judgment the same shall be necessary in order to a full and complete knowledge of its condition.
Any association failing to make and transmit any such report shall be subject to a penalty of one hundred dollars for each day after five days that such bank shall delay to make and transmit any report as aforesaid; and in case any association shall delay or refuse to pay the penalty herein imposed when the same shall be assessed by the Comptroller of the Currency, the amount of such penalty may be retained by the Treasurer of the United States, upon the order of the Comptroller of the Currency, out of the interest, as it may become due to the association, on the bonds deposited with him to secure circulation; and all sums of money collected for penalties under this section shall be paid intc the Treasury of the United States.
SEC. 2. And be it further enacted, That, in addition to said reports, each national banking association shall report to the Comptroller of the Currency the amount of each dividend declared by said association, and the amount of net
earnings in excess of said dividends, which report shall be
ACT OF MARCH 3, 1869, CHAPTER 135.
AN ACT IN REFERENCE TO CERTIFYING CHECKS BY NATIONAL BANKS.
Checks not to be
drawn against ac tual deposits.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That it shall be unlawful for any officer, clerk, or agent of any national bank to certify any check drawn upon said bank unless the person or company drawing said check shall have on deposit in said bank at the time such check is certified an amount of money equal to the amount specified in such check; and any check so certified by duly authorized officers Certified checks shall be a good and valid obligation against such bank; and any officer, clerk, or agent of any national bank violating tion of law. the provisions of this act shall subject such bank to the liabilities and proceedings on the part of the Comptroller as provided for in section fifty of the national banking law, approved June third, eighteen hundred and sixty-four. Approved, March 3, 1869.
to be valid. Penalty for viola.
ACT OF APRIL 6, 1869, CHAPTER 11.
AN ACT TO AMEND AN ACT ENTITLED "AN ACT TO PROVIDE A NATIONAL CUR-
Aiding or abetting officers &c. bezzlement of
of banks, in em
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That every person who shall aid or abet any officer or agent of any association in doing any of the acts enumerated in section fifty-five of an act entitled "An act to provide a national punishable.
funds and other unlawful acts,
currency secured by a pledge of United States bonds, and
ACT OF JULY 8, 1870, CHAPTER 226.
AN ACT TO DECLARE THE CONSTRUCTION OF SECTION FIFTY-FIVE OF AN ACT
Be it enacted by the Senate and House of Representatives To what officers of the United States of America in Congress assembled, That
penalty against embezzlement
section fifty-five of the act entitled "An act to provide a na-
Approved, July 8, 1870.
ACT OF JULY 12, 1870, CHAPTER 252.
AN ACT TO PROVIDE FOR THE REDEMPTION OF THE THREE PER CENT. TEMPOR-
Be it enacted by the Senate and House of Representatives Additional circu- of the United States of America in Congress assembled, That fifty-four millions of dollars in notes for circulation may be issued to national banking associations, in addition to the
three hundred millions of dollars authorized by the twentysecond section of the "Act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof," approved June three, eighteen hundred and sixty-four;
And the amount of notes so provided shall be furnished How distributed. to banking associations organized or to be organized in those States and Territories having less than their proportion under the apportionment contemplated by the provisions of the "Act to amend an act to provide a national currency, secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof," approved March three, eighteen hundred and sixty-five, and the bonds deposited with the Treasurer of the United States, to secure the additional circulating notes herein authorized, shall be of any description of bonds of the United States bearing interest in coin, but a new apportionment of the increased circulation herein provided for shall be made as soon as practicable, based upon the census of eighteen hundred and seventy: Provided, That if applications for the circulation herein authorized shall not be made within one year after the passage of this act by banking associations organized or to be organized in States having less than their proportion, it shall be lawful for the Comptroller of the Currency to issue such circulation to banking associations applying for the same in other States or Territories having less than their proportion, giving the preference to such as have the greatest deficiency;
And provided further, That no banking association hereafter organized shall have a circulation in excess of five hundred thousand dollars.
SEC. 2. And be it further enacted, That at the end of each month after the passage of this act it shall be the duty of the Comptroller of the Currency to report to the Secretary of the Treasury the amount of circulating notes issued, under the provisions of the preceding section, to national banking associations during the previous month;
Circulation currency banks
not to exceed $500,000 each.
Comptroller to report, monthly,
amount of issue.
Whereupon the Secretary of the Treasury shall redeem Three per cent. and cancel an amount of the three per centum temporary
certificates to be
redeemed and canceled.
Notice to holders of three per cent.
No longer to be held as part of the bank re. serves.
loan certificates issued under the acts of March two, eighteen hundred and sixty-seven, and July twenty-five, eighteen hundred and sixty-eight, not less than the amount of circulating notes so reported, and may, if necessary, in order to procure the presentation of such temporary loan certificates for redemption, give notice to the holders thereof, by publication or otherwise, that certain of said certificates (which shall be designated by number, date, and amount) shall cease to bear interest from and after a day to be designated in such notice, and that the certificates so designated shall no longer be available as any portion of the lawful money reserve in possession of any national banking association, and after the day designated in such notice no interest shall be paid on such certificates, and they shall not thereafter be counted as a part of the reserve of any banking association.
Banks may have circulation redeemable in gold coin.
NATIONAL GOLD BANKS AND GOLD NOTES.
SEC. 3. And be it further enacted, That upon the deposit of any United States bonds, bearing interest payable in gold, with the Treasurer of the United States, in the manner prescribed in the nineteenth and twentieth sections of the national currency act, it shall be lawful for the Comptroller of the Currency to issue to the association making the same circulating notes of different denominations, not less than five dollars, not exceeding in amount eighty per centum of the par value of the bonds deposited, which notes shall bear upon their face the promise of the association to which they are issued to pay them, upon presentation at the office of the association, in gold coin of the United States, and shall be redeemable upon such presentation in such coin: Provided, That no banking association organgold banks not to ized under this section shall have a circulation in excess of one million of dollars.
Reserve of 25 per
tion to be kept in coin.
SEC. 4. And be it further enacted, That every national cent. of circula- banking association formed under the provisions of the preceding section of this act shall at all times keep on hand not less than twenty-five per centum of its outstanding circulation in gold or silver coin of the United States, and