Page:United States Statutes at Large Volume 54 Part 1.djvu/424

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PUBLIC LAWS-CH. 358 -JUNE 13, 1940 United States "275. FAITH OF UNITED STATES PLEDGED TO PAYMENT OF DEPOSITS.-- pledged to payment of depoits. The faith of the United States is pledged to the payment of postal- savings certificates issued as provided in this chapter, with accrued interest thereon, in the same manner as such faith is pledged by law with respect to deposits made in postal-savings depository offices in the United States. Control of money- "276. CONTROL OF MONEY-ORDER AND POSTAL-SAVINGS FUNDS.- The order and postal-sav- ings funds. funds received from the issuance of money orders and postal-savings certificates by the Canal Zone postal service shall be under the control of the Governor. Deposit of funds in "277. DEPOSIT OF MONEY-ORDER AND POSTAL-SAVINGS FUNDS IN U. S.Treasury. UNIED STATES TREAsURY.-The Governor is authorized to cause to be deposited in the United States Treasury for safekeeping but subject to his control all or any part of the funds, including interest thereon, received from the issuance of money orders and postal- Withdrawal. savings certificates, and such funds or any part thereof may be with- drawn from time to time under such regulations as may be prescribed by the Governor.. Deposit of funds in "278. DEPOSIT OF MONEY-ORDER AND POSTAL-SAVINGS FUNDS IN BANKS; SECURITY. -- The Secretary of the Treasury is hereby authorized to designate one or more national-banking associations to be deposi- tories, under such regulations as may be prescribed by him, of funds received from the issuance of money orders and postal-savings cer- Sepuilty for safe- tificates, including interest therefrom, and is hereby directed to keeping, etc. , of funds deposited. require the associations thus designated to give satisfactory security, by the deposit of United States bonds or otherwise, for the safe- keeping and prompt payment of the funds deposited with them, and such associations are authorized to give such security as may be required. All pledges of securities heretofore made for the safe- keeping and prompt payment of any such funds are hereby ratified, approved, and validated. in U. S . securities. inesitent~offsn "279. INVESTMENT OF MONEY-ORDER AND POSTAL-SAVINGS FUNDS IN sECURITIES OF THE UNITED STATES. - The Governor is hereby author- ized to invest all or any part of the funds referred to in the two preceding sections in bonds or other securities of the United States and to deposit such securities with the Treasurer of the United States for safekeeping, and to sell such securities, or any part of them, when such sale is necessary or desirable in the interest of the Prior advice of Se postal service. Before making such purchases or sales of securities, retyotheTreasury- the Governor shall request the advice of the Secretary of the Treasury. Use of interest and "280. USE OF INTEREST AND PROFITS ON MONEY-ORDER AND POSTAL- SAVINGS FUNDS. -T he interest and profits received from the deposit in banks or the investment, as provided in this chapter, of money- order and postal-savings funds shall form a part of the Canal Zone postal revenues and shall be available to pay the interest on postal- savings certificates, the expenses of operating the Canal Zone postal service, and the losses which are chargeable to the said service. gopiarotion of fore- "281. APPLICATION OF FOREGOING PROVISIONS TO DEPOSIT MONEY deposit money orders. ORDERs.- Al l the provisions of this chapter relating to postal-savings certificates and the funds received therefrom, including interest, shall apply equally to money orders issued in lieu of postal-savings certifi- cates prior to the effective date of this Act, and to the funds received therefrom, including interest." SEc. 3 . That section 843 of title 5 of the Canal Zone Code is amended so as to read as follows: biMdsog stBigns o "843. PLACING SIGNS ON LANDS OR STRUCTURES IN CANAL ZONE.- The Governor of the Panama Canal is hereby authorized to make rules and regulations in respect to the construction or placing of signs, bills, posters, or other advertising devices on any lands, build- [54 STAT.