SIXTY-TI-HRD CONGRESS. Sess. II. Ch. 6. 1913. 261 the Federal Reserve Board subject to its supervision, shall be the active executive officer. The Secretary of the Treasury may assign °“°°“·°‘°‘ omces in the Department of the 'l‘reasury for the use of the Federal Reserve Board. Each member of the Federal Reserve Board shall within fifteen da after notice of appointment make and subscribe to the oath of ego. The Federal Reserve Board shall have power to levy semiannuall ·'¤¤·¤¤¤¤¤¤ M ¤· upon the Federal reserve banks, in poroportion to 'l3l1€11‘ capital stock mm` and surplus, an assessment sufficient pay its estimated expenses and the salaries of its members and employees for the half ear succeeding the levyinghof such assessment, together with any drencit carried forward from e preceding half year. The iirst meeting of the Federal Reserve Board shall be held in 1¢••¤¤¤.•w. Washington, District of Columbia, as soon as may be after the passage g)this_tt°t, atl`; date tc; be bathe Reserve lgcank Oighgaznizcafion mm1 e. eSecre ary 0 e easury shall ex o cio air- ulmnmml man of the Federal Reserve Board. _No member of the Federal Dm ReserveBoardshall beanofficerordu·ectorof any bank, bamg instituticgkngniit company, (:1tI;`6d61'8.l retrrzesrve nor holdbd m any anl¤ng` msti `on or t compan · an ore
upon his duties as a member of the Federal Ri-iserve Board
. he certify under oath to the Secret%1of the Treasury that he vmmh has eoinpehed with this requirement. enever a vacancieshall occur,o rthanbyexpiratmnofterm amongthelivemem rsof . the Federal Reserve Board appomted the President, as above provided, a successor shall be appointed y the Preddent, with the advice and consent of the Senate to fill such vacanc , and when pginted he shall hold office for the unexpired term oz the member seglaeeheisselectedtofill. C II dum; The ent shall have §,wer to fill all vacancies that may hep- mamma sms. pen on the Federal Remrve ard during the recess of the Senate, by granting commissions which shall expire thirty days after the next ses§_ion of the Rai; gonvenes. be PW"! of othmg` m ° c c0ntamed' shall construe as tak1ng` away ,,, th .1.,,,,,,, any wers heretofore vested by law in the Secretary of the Treasury wr}- wm-
relate to the supervision, management, and control of the
Treasury Department and bureaus under such department, and wherever an power vested by this Act in the Federal Reserve Board or the Fedieral reserve agent appears to conflict with the powers of the Secretary of the Treasury, such tpowers shall be exercised subject to the supervision and control of e Secretary. · The Federal Reserve Board shall annually make a full report of *°°"“"°l’°"· its operations to the Sgzaker of the House of Representatives, who ' shall causethe same to printed for the mformation of the Congress. Om", compmk Section three hundred and twe;1§y-four of the Revised Statutes of as me cm-may. the United States shall be amend so as to read as follows: There Dum shall be in the De artment of the Treasury a bureau charged with n. s.,黤.¤z4,p.s4, the execution of all) laws passed by Coniess relating to the ISSUE and ““""°" regulation of national currency secured Ky United tates bonds and under the general supervision of the Fe eral Reserve Board, of all Federal reserve notes, the chief officer of which bureau shall_be called the Comlpgzlroller of the y and slgililh perform his duties under the gene tions 0 the retary o e'I‘reasury. Sec.;1. The Federal Reserve Board shall be authorized and em- ¤$L°;°i¥LY§Y°° P"' were : ' P0(a) To examine at its discretion the accounts books and r§_,;’§";':§“g;'g;: of each Federal reserve bank and of each member bank and to require mrs such statements and reports as it may deem necessary. The said board shall publish once each week a statement showing the condition of each ederal remrve bank and a consolidated statement for all HMM mtg Federal reserve banks. Such statements shall show in detail the ma.
