claims against such association to present the same, and to make legal proof thereof. And from time to time the comptroller, after full provision shall have been first made for refunding to the United States any such deficiency in redeeming the notes of such association as is mentioned in this act, shall make a ratable dividend of the money so paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in a court of competent jurisdiction; and from time to time, as the proceeds of the assets of such association shall be paid over to him, he shall make further dividends, as aforesaid, on all claims previously proved or adjudicated; and the remainder of such proceeds, if any, shall be paid over to the shareholders of such association, or their legal representatives, in proportion to the stock by them respectively held: Provided, however, That if such association against which proceed- If association ings have been so instituted, on account of any alleged refusal to redeem failed to redeem its circulating notes as aforesaid, shall deny having failed to do so, such its notes, it may association may, at any time within ten days after such association shall apply to the have been notified of the appointment of an agent, as provided in this act, junction. apply to the nearest circuit, or district, or territorial court of the United States, to enjoin further proceedings in the premises; and such court, after citing the comptroller of the currency to show cause why further proceedings should not be enjoined, and after the decision of the court Proceedings or finding of a jury that such association has not refused to redeem its circulating notes, when legally presented, in the lawful money of the United States, shall make an order enjoining the comptroller, and any receiver acting under his direction, from all further proceedings on account of such alleged refusal. denies that it has courts for an in Fees for pro SEC. 51. That all fees for protesting the notes issued by any such banking association shall be paid by the person procuring the protest to test and other expenses, how be made, and such banking association shall be liable therefor; but no to be paid. part of the bonds pledged by such banking association, as aforesaid, shall be applied to the payment of such fees. And all expenses of any preliminary or other examinations into the condition of any association shall be paid by such association; and all expenses of any receivership shall be paid out of the assets of such association before distribution of the proceeds thereof. in contemplation SEC. 52. That all transfer of the notes, bonds, bills of exchange, and Transfers, asother evidences of debt owing to any association, or of deposits to its signments, &c. credit; all assignments of mortgages, sureties on real estate, or of judg- of insolvency, ments or decrees in its favor; all deposits of money, bullion, or other val- &c. to be void. uable thing for its use, or for the use of any of its shareholders or creditors; and all payments of money to either, made after the commission of an act of insolvency, or in contemplation thereof, with a view to prevent the application of its assets in the manner prescribed by this act, or with a view to the preference of one creditor to another, except in payment of its circulating notes, shall be utterly null and void. Penalty upon directors for vioact. lations of this to be determined. SEC. 53. That if the directors of any association shall knowingly violate, or knowingly permit any of the officers, agents, or servants of the association to violate any of the provisions of this act, all the rights, privileges, and franchises of the association derived from this act shall be thereby forfeited. Such violation shall, however, be determined and ad- Violation, how judged by a proper circuit, district, or territorial court of the United States, in a suit brought for that purpose by the comptroller of the currency, in his own name, before the association shall be declared dissolved. And in cases of such violation, every director who participated in or assented to the same shall be held liable in his personal and individual capacity for all damages which the association, its shareholders, or any other shall have sustained in consequence of such violation. person, Personal lia bility. SEC. 54. That the comptroller of the currency, with the approbation Comptroller of the Secretary of the Treasury, as often as shall be deemed necessary may appoint per son to examine association. examiner. or proper, shall appoint a suitable person or persons to make an examinathe affairs of any tion of the affairs of every banking association, which person shall not be a director or other officer in any association whose affairs he shall be appointed to examine, and who shall have power to make a thorough examDuty of such ination into all the affairs of the association, and, in doing so, to examine any of the officers and agents thereof on oath; and shall make a full and detailed report of the condition of the association to the comptroller. And the association shall not be subject to any other visitorial powers than such as are authorized by this act, except such as are vested in the several courts of law and chancery. And every person appointed to make such examination shall receive for his services at the rate of five dollars for each day by him employed in such examination, and two dollars for every twenty-five miles he shall necessarily travel in the performance of his duty, which shall be paid by the association by him examined. Pay. Penalty upon officers, &c. of association for embezzlement, &c. of funds. District attor SEC. 55. That every president, director, cashier, teller, clerk, or agent of any association, who shall embezzle, abstract, or wilfully misapply any of the moneys, funds, or credits of the association, or shall, without authority from the directors, issue or put in circulation any of the notes of the association, or shall, without such authority, issue or put forth any certificate of deposit, draw any order or bill of exchange, make any acceptance, assign any note, bond, draft, bill of exchange, mortgage, judgment, or decree, or shall make any false entry in any book, report, or statement of the association, with intent, in either case, to injure or defraud the association or any other company, body politic or corporate, or any individual person, or to deceive any officer of the association, or any agent appointed to examine the affairs of any such association, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be punished by imprisonment not less than five nor more than ten years. SEC. 56. That all suits and proceedings arising out of the provisions of neys to conduct this act, in which the United States or its officers or agents shall be parties, shall be conducted by the district attorneys of the several districts, under the direction and supervision of the solicitor of the treasury. certain suits. In what courts, this act may be prosecuted. SEC. 57. That suits, actions, and proceedings, against any association suits, &c. under under this act, may be had in any circuit, district, or territorial court of the United States held within the district in which such association may be established; or in any State, county, or municipal court in the county or city in which said association is located, having jurisdiction in similar Proceedings for cases: Provided, however, That all proceedings to enjoin the comptroller injunctions to be under this act shall be had in a circuit, district, or territorial court of the United States, held in the district in which the association is located. in what courts. Penalty for SEC. 58. That every person who shall mutilate, cut, deface, disfigure, or mutilating notes perforate with holes, or shall unite or cement together, or do any other thing to make them unfit for reissue. to any bank bill, draft, note, or other evidence of debt, issued by any such association, or shall cause or procure the same to be done, with intent to render such bank bill, draft, note, or other evidence of debt unfit to be reissued by said association, shall, upon conviction, forfeit fifty dollars to the association who shall be injured thereby, to be recovered by action in any court having jurisdiction. Penalty for counterfeiting notes; SEC. 59. That if any person shall falsely make, forge, or counterfeit, or cause or procure to be made, forged, or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting, any note in imitation of, or purporting to be in imitation of, the circulating notes issued for knowingly under the provisions of this act, or shall pass, utter, or publish, or attempt uttering, &c. to pass, utter, or publish, any false, forged, or counterfeited note, purporting to be issued by any association doing a banking business under the provisions of this act, knowing the same to be falsely made, forged, or counterfeited, or shall falsely alter, or cause or procure to be falsely altered, or willingly aid or assist in falsely altering, any such circulating notes, issued as aforesaid, or shall pass, utter, or publish, or attempt to pass, utter, or publish, as true, any falsely altered or spurious circulating note issued, or purporting to have been issued, as aforesaid, knowing the same to be falsely altered or spurious, every such person shall be deemed and adjudged guilty of felony, and being thereof convicted by due course of law shall be sentenced to be imprisoned and kept at hard labor for a period of not less than five years, nor more than fifteen years, and fined in a sum not exceeding one thousand dollars. &c. plates for with intent; SEC. 60. That if any person shall make or engrave, or cause or pro- for engraving, cure to be made or engraved, or shall have in his custody or possession forging notes, any plate, die, or block after the similitude of any plate, die, or block from &c.; which any circulating notes issued as aforesaid shall have been prepared or printed, with intent to use such plate, die, or block, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, or shall have in his custody or possession any blank note or for having notes engraved and printed after the similitude of any notes issued as blank notes, &c. aforesaid, with intent to use such blanks, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, or shall have in his custody or possession any paper adapted to the making of such notes, and similar to the paper upon which any such notes shall per, &c. have been issued, with intent to use such paper, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, every such person, being thereof convicted by due course of law, shall be sentenced to be imprisoned and kept to hard labor for a term not less than five or more than fifteen years, and fined in a sum not exceeding one thousand dollars. SEC. 61. That it shall be the duty of the comptroller of the currency to report annually to Congress at the commencement of its session for having pa Comptroller to report annually to Congress. Contents of re First. A summary of the state and condition of every association from whom reports have been received the preceding year, at the several dates port. to which such reports refer, with an abstract of the whole amount of banking capital returned by them, of the whole amount of their debts and liabilities, the amount of circulating notes outstanding, and the total amount of means and resources, specifying the amount of lawful money held by them at the times of their several returns, and such other information in relation to said associations as, in his judgment, may be useful. Second. A statement of the associations whose business has been closed during the year, with the amount of their circulation redeemed and the amount outstanding. Third. Any amendment to the laws relative to banking by which the system may be improved, and the security of the holders of its notes and other creditors may be increased. Fourth. The ames and compensation of the clerks employed by him, and the whole amount of the expenses of the banking department during the year. And such report shall be made by or before the first day of December in each year, and the usual number of copies for the use of the senate and house, and one thousand copies for the use of the department, shall be printed by the public printer and in readiness for distribution at the first meeting of Congress. SEC. 62. That the act entitled " An act to provide a national currency, secured by a pledge of United States stocks, and to provide for the circulation and redemption thereof," approved February twenty-fifth, eighteen hundred and sixty-three, is hereby repealed: Provided, That such repeal shall not affect any appointments made, acts done, or proceedings had, or the organization, acts, or proceedings of any association organized or in the process of organization under the act aforesaid: And provided, also, That all such associations so organized or in process of organization shall enjoy all the rights and privileges granted, and be subject to all the duties, liabilities, and restrictions imposed by this act, and with the approval of the comptroller of the currency, in lieu of the name specified in their re Repeal of act of 1863, ch. 58. Vol. xii. p. 665. Saving clauses. Executors, trustees, &c. holding stock, not to be personally liable. Act may be altered or re spective organization certificates, may take any other name preferred by them and duly certified to the comptroller, without prejudice to any right acquired under this act, or under the act hereby repealed; but no such change shall be made after six months from the passage of this act: Provided, also, That the circulation issued or to be issued by such association shall be considered as a part of the circulation provided for in this act. SEC. 63. That persons holding stock as executors, administrators, guardians, and trustees, shall not be personally subject to any liabilities as stockholders; but the estates and funds in their hands shall be liable in like manner and to the same extent as the testator, intestate, ward, or person interested in said trust-funds would be if they were respectively living and competent to act and hold the stock in their own names. act. SEC. 64. That Congress may at any time amend, alter, or repeal this pealed. No. 38. - JUNE 8, 1864. Stat. at Large, CHAP. CXIV. — An Act to punish and prevent the Counterfeiting of Coin of the United Vol. XIII. p. 120. States. Penalty for counterfeiting coin of the United States. Be it enacted, &c. That if any person or persons, except as now authorized by law, shall hereafter make, or cause to be made, or shall utter or pass, or attempt to utter or pass, any coins of gold or silver, or other metals or alloys of metals, intended for the use and purpose of current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design, every person so offending shall, on conviction thereof, be punished by fine not exceeding three thousand dollars, or by imprisonment for a term not exceeding five years, or both, at the discretion of the court, according to the aggravation of the offence. Stat. at Large, CHAP. CLXXII. Vol. XIII. p. 218. able. No. 39. JUNE 30, 1864. An Act to provide Ways and Means for the Support of the Govern ment, and for other Purposes. Secretary of Be it enacted, &c. That the Secretary of the Treasury be, and he is Treasury may hereby, authorized to borrow, from time to time, on the credit of the Unitborrow $400,000,000, and is- ed States, four hundred millions of dollars, and to issue therefor coupon sue bonds, &c. or registered bonds of the United States, redeemable at the pleasure of When redeem- the government, after any period not less than five, nor more than thirty years, or, if deemed expedient, made payable at any period not more Denominations. than forty years from date. And said bonds shall be of such denominations as the Secretary of the Treasury shall direct, not less than fifty Interest semi- dollars, and bear an annual interest not exceeding six per centum, payannually in coin. able semi-annually in coin. And the Secretary of the Treasury may dispose of such bonds, or any part thereof, and of any bonds commonly may be disposed known as five-twenties remaining unsold, in the United States, or if he shall find it expedient, in Europe, at any time, on such terms as he may deem most advisable, for lawful money of the United States, or, at his discretion, for treasury notes, certificates of indebtedness, or certificates All obligations of deposit issued under any act of Congress. And all bonds, treasury notes, and other obligations of the United States shall be exempt from taxation by or under State or municipal authority. How bonds of the United States to be exempt from taxation. issue in lieu of SEC. 2. That the Secretary of the Treasury may issue on the credit Secretary may of the United States, and in lieu of an equal amount of bonds authorized by the preceding section, and as a part of said loan, not exceeding two hundred millions of dollars, in treasury notes of any denomination not less than ten dollars, payable at any time not exceeding three years from and when paya- date, or, if thought more expedient, redeemable at any time after three years from date, and bearing interest not exceeding the rate of seven and treasury notes. Denominations, ble. Interest paya ble in lawful money. issue. not to exceed of notes not to exceed, &c. Interest-bear ing notes not legal tender for redemption of cir culation of banks. Interest of paid semi-an three tenths per centum payable in lawful money at maturity, or, at the discretion of the Secretary, semi-annually. And the said treasury notes may be disposed of by the Secretary of the Treasury, on the best terms that can be obtained, for lawful money; and such of them as shall be disposed of. made payable, principal and interest, at maturity, shall be a legal tender How far to be to the same extent as United States notes for their face value, excluding legal tender. interest, and may be paid to any creditor of the United States at their face value, excluding interest, or to any creditor willing to receive them at par, including interest; and any treasury notes issued under the authority of this act may be made convertible, at the discretion of the Secretary Treasury notes of the Treasury, into any bonds issued under the authority of this act. to be convertible into bonds. And the Secretary of the Treasury may redeem and cause to be cancelled May be suband destroyed any treasury notes or United States notes heretofore issued stituted for the under the authority of previous acts of Congress, and substitute, in lieu notes of previous thereof, an equal amount of treasury notes such as are authorized by this act, or of other United States notes: Provided, That the total amount Amount of of bonds and treasury notes authorized by the first and second sections bonds and notes of this act shall not exceed four hundred millions of dollars, in addition to $400,000,000; the amounts heretofore issued; nor shall the total amount of United States notes, issued, or to be issued, ever exceed four hundred millions of dollars, and such additional sum, not exceeding fifty millions of dollars, as may be temporarily required for the redemption of temporary loan; nor shall any treasury note bearing interest, issued under this act, be a legal tender in payment or redemption of any notes issued by any bank, banking association, or banker, calculated or intended to circulate as money. SEC. 3. That the interest on all bonds heretofore issued, payable annually, may be paid semi-annually; and in lieu of such bonds authorized to bonds heretofore be issued, the Secretary of the Treasury may issue bonds bearing interest, issued, may be payable semi-annually. And he may also issue in exchange for treasury nually. notes heretofore issued bearing seven and three tenths per centum inter- Bonds may be issued in exest, besides the six per centum bonds heretofore authorized, like bonds of change for seven all the denominations in which such treasury notes have been issued; and and three tenths the interest on such treasury notes after maturity shall be paid in lawful notes. money, and they may be exchanged for such bonds at any time within three months from the date of notice of redemption by the Secretary of the Treasury, after which the interest on such treasury notes shall cease. And so much of the law approved March third, eighteen hundred and sixty-four, as limits the loan authorized therein to the current fiscal year, §1. Ante, p. 795; is hereby repealed; and the authority of the Secretary of the Treasury to borrow money and issue therefor bonds or notes conferred by the first section of the act of March third, eighteen hundred and sixty-three, entitled "An act to provide ways and means for the support of the government," ch. 73, §1. Ante, shall cease on and after the passage of this act, except so far as it may effect [affect] seventy-five millions of bonds already advertised. SEC. 4. That the Secretary of the Treasury may authorize the receipt, Secretary of as a temporary loan, of United States notes or the notes of national bank- Treasury may ing associations on deposit for not less than thirty days, in sums of not rary loan. less than fifty dollars, by any of the assistant treasurers of the United States, or depositories designated for that purpose, other than national banking associations, who shall issue certificates of deposit in such form as the Secretary of the Treasury shall prescribe, bearing interest not exceeding six per centum annually, and payable at any time after the term of deposit, and after ten days' subsequent notice, unless time and notice be waived by the Secretary of the Treasury; and the Secretary of the Treasury may increase the interest on deposits at less than six per centum to that rate, or, on ten days' notice to depositors, may diminish the rate of interest as the public interest may require; but the aggregate of such deposits shall not exceed one hundred and fifty millions of dollars; and the Secretary of the Treasury may issue, and shall hold in reserve for Repeal of part of 1864, ch. 17, and of 1863, p. 791. receive tempo Certificates of deposit to be is sued therefor. When payable, and interest. Aggregate not to exceed, &c. |