a § 102 , _ ~ 1*17*1.12: 12.·——-BANK fnrtker, That the circulating notes furnished to national banking awociatiena under the provisions of this section shall be of the denominations prescribed by law: And yirovided further, That. the total amount ot such netea issued to any such association may equal at any time but shall not exceed the amount at such time of its capital stock ·aetnal13»’ Dalddn: And. .1>z·o·vided’ further, That under regulations to be prescribed by the Secre- _ tary of the Treasnry any national banklng association may substitute the 2 mr centum bonds issued under the provisions of section 11 of chapter 41, of Act of March. 14, 1900 (Thirty- first Statutes; page 48), forany of the bonds deposited witlr the Treasurer. to secure circulation or to secure deposits of public money. (Mar. 14, 1900, ,c. 41, § 12, ‘31 Stat. 49; Oct. 5, 191'¥, e. 74;§ 2, 40 Stat. 3-12.) _` _ ' 192. "Un§ted_ States `bends·"‘ as , inclading ·regfistei·ed borgdase-—'1‘11e term ‘i United States bonds,*’ as uaed throughout this chapter. sliall be construed to mean registered bonds of the United States (R. S. § 5158.) ‘ ‘ , “ _ 163. Denominations of xnotesi limitation on amounf of $1 and $2 nntes.¥-TA113?-; national banking association, upon complianee with the provisions of law applicable . thereto, .shall » be ‘ entitled to receive froxn the Comptroller of the Currency, or to inane or reissue, or place in circulation notes in denominationajof $1, $2, $5, $10, $50; and»·$100 iw snch proportion as to each of said denominations as. the ·bank may} elect; ".Pmz:§ded, however, That no bank shall receive or have at circulation at any one ‘time·more tl1an`$25,000_in notes of the denominations of $1·'and $2. (Oct: 5, 1917, c. 74, § 3, 40 Stat.342.)'_ _' " ·- ._ 194. Printingaynotes; for1n.·+In order. to_ti1rnish suitable I notes for circulation, the Comptroller of the Currency shall, r' »u¤aer the direction of the Secretary of the Treasury, eauae plates and dies to be engraved, in the bestpmanner to guard against 'counterfeiting and fraudulent alterations, and shall haveprinted therefrom and neutnbered such quantity of ciriiv culating notes in blank, or bearing engraved signatures of oaleers as herein provided, of the denominations of $1, $2, $5, $10, $20, $50, $100, $500, and $1,000, as may be required to supply -the_ associations entitled to receive- the Same. Such notes shall express upon their face that they are secured by. ~ United States xmas deposited with the Treasurer of the ,United States, by the written orwengraved signatures of the Treasurer and register, and by the imprintfot the seal of the Treasury; and shall. also express upon their face the promise. ot the associationf receiving the same to pay on "deinand', attested by the written or engraved signatures at the president or vice president and cashier; and shall bear suelt devices and auch other statements and shall be in such form as_ the _Secretary of the Treasury shall, by regulation, direct. (R. S. § 5172; May 30, 19M, c. 229, §' 11, 35 Stat. 551; .23, 1913, c. 6, 5 27, 38 Stat. 274; Ang. 4, 1914, c. 2%, 38`Stat. 682; Mar. 3, 1919, c. 101, { 40 Stat. 1315.) " . , · . `, ._ 105. Qinting charter numbers on notes.--—-The Comptroller ot. the Currency. nhall, ynnder auch ·r{1le.s and regulations as · the Secretary of the? Treaanry may pxmcribe, canse_ the charter numbers o1_tbe;aaaoeiation.to be printed upon all national-bank netes which may be hereafter issued by him. (June 20, 1814, , c.·34.3, { 5,18Stat.*124.)‘ _ _ _- . ' Y 166. Distinctive jun: for printing.-·—-The. nationabbank notes aball be printed under the direction of the Secretary ot the Trmsnry, and upon the distinctive or specialypaper > which ‘ has been, or may hereafter lm, adopted by him. for printing United States -·notea'. (Mar. 3, 1875, c. 130, `§ 1, 18Stat.'372.) V · ¤ "‘ .—» . . 107. Caitcdy af plates md 'dics; payment of expenses.--- , The plata andepecial diea Qto be _;}r0c1iredby the Comptroller oft1{e‘.Currency for the printing ·ot anal; circnalating notes shall remain under his control '8.I!d'd}1'6€£i£§X1,·S.Hd the expenses
fs awp BANKQFG 266
necessarily incurred in executing thelaws respecting the pm.
curing of- such notes, and all other expenses or the bureau or
the currency, shall be paid out of the proceeds of the taxes or
duties assessed and collected on the circulation ot national
banking. associations under this ehapter. » (H. S. 5 5173.) 8 108. Examination of plates, dies, and other material; destruction of obsolete·~inaterial.-—'1fhe Comptroller ot the.`(`ur- · yyrency shall cause to he examined, each year, the plates, diesbed pieces, and other material trohrwhleh the nationahbenh U circulation. is printed;_ in whole or in part, and tile in his Omce ¤;mus11yta¤ correct list of. the same. Such materm as shall have been used in the printing of. the notes ot. associations which are in liquidation, or hare elmed business, slmll be destroyed under such regulations as shall be prescribed by the Comptroller ot_ the Currency and approved by the Soc- ‘ retary of the 'Treasury. The expensmot any such examinas tion, or qdestruction shall be paid out of any appropriation jnade by` Congress for the special exahination ot national banks and 'bank·note plates}- .(,R, S. 5 5174 ;— Feb. 27, 1877, c. 69, { 1, 1‘9 Stat. 252.) I , " ‘ 109. Issuaneeof notes by banks; obligation; signatures of officers; demands for which shall be. reeeivedé-Any association nrecelhving circulating notes · under this ehapter may; __iE its promise to pay such notes on cdemud is eipressed there-. on attested by the. written or `engraved ai®tures ot a the president or vice presidenf and _» the cashier thereof in such manner. as to make obligatory mlwory notes payable on demand at its place of husinesspmue, and cir late the same as money. 'Such written or eesgmee si@atur% sr the "presldent or vice president and the cashier ot. such associa- ` tioufmay We attached to such notes either before or after the receipt of such notes by such association. And such notes I sha1l··l»e. received atpar in all partsjot Qthe United States in payment of taxes, excises, public. lands,-— and all other dues to the United States, except duties on imports; and also for all .: salariesfand other e s a _ exnands owing, by the United gStates· to individuals,. corporations, and associations within . the United States, escept interest on the public dent, and in redemption ot the national currency. ~(B. S. { 5182; Jan. l3, 1920, c. 38, 41 Stat. 387.) . _. · .‘‘` ‘ ` 110. Issue byfbanlrs ~of~vunauthorized· notes; prohibition.-·· ·No national banking association shall issue post notes or any other notes to circulate as money than such as are authorised by the provisions ot `this chapter. (R: `S. { 5183; Feb. 18, 1875, c.— 80,; 81, 18 Stat. 320.) ‘" r U · `_ . REDEMPTION AND ‘REPLAQEMENT` OF CIRQULATISG
· [ ·· NOTES ° I
_121. Redemptionlof notx by Treasurer- of United States: reserve in Treasury; disposition of notes unit for expenses.-—·—·Erery. national banking association organized under the provisions of `this chaptersshsll at all times keep and have on deposit in the Treasury of the United·`8tates, in law-» ‘ ful moneyof the United States" a' sum equal to 5 per eentum jot its circulation, to he held and used for the redemption er such circulation, which sum shall in no ease be `counted as a part ot its legal reserve; and when the circulating notes ot any spch associations, assorted or una@orted, shall be presented for L redemptioni in jsurns `ot $1.000, ter any multiple thereof, to the Treasurer of the United States; the same shall be redeemed. in United Stntesnotes., All notes so redeemed shall he charged, by the Treasurer of they United States -to·‘ the respective as soelatlous-issuing the sarne. and he shall notify them several}.? on the lst day of each month, or oftener, at his discretion, of a the amount of such- redemptions; and whenever such redemlr tions 1'orany association shallsruount to the sum of $590+ · such association so notided shall forthwith deposit with the Treasurer or the United 8t.ates_·a*sum» in United States notes \ . `
