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1863-NationalCurrencyAct-12Stat665

1863-NationalCurrencyAct-12Stat665

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THIRTY-SEVENTH
CONGRESS.
Sass.
IML
Ca.
56,
58.
1868.
665
the
pointwhere
the
southwest
corner
of
the
Territory
of
Colorado
joins
the
northern
boundaryof
the Territory
of
NewMexico
to
the
southernBoueuie.
boundaryline
of
said
Territory
of
New
Mexico
be,and
the
same
is
hereby,
erectedinto
a
temporarygovernment
by
the
name of
theTerritory
of
Arizona:
lProvie
That
nothing
contained
in
the
provisions
of
this
act
m
e
divided
shall
be
construed
to
prohibit
the
Congress
of
the
UnitedStates
from
her.
dividing
saidTerritory
or
changingits
boundariesin
such
manner
and
at
such
timeas
it
may
deem
proper:
Po/vided
fuather,
That
smid
govern-
gov-
mentshall
be
maintained
and
continued
until
sech
timeas
the
people
re-
T,
to
.
siding
in
said
Territory
shall,
with
the
consent
of
Congress,form
a
State
main
unti,
te.
government,
republican
in
form,
as
prescribed
in
the
Constitution
of
the
UnitedStates,
andapply
for
and
obtainadmission
intotheUnion
as
a
State,
on
an
equal
fboting
with
the
originalStates.
Sac.
2.
And
be
it
fiwther
eacted,
That
thegovernmenthereby
au-
Government,
thorizedshall
consist
of
an
executive,legislative,
and
judicial
power.
eetive,
le&,
The
executive
power
shall
be
vested
in
a
governor.
The
legislative
power
shall
consistof
a
council
of
nine
members,
and
a
house
of
repre-
sentatives
of
eighteen.
Thejudicial
power
shallbevested
in a
supreme
court,to
consist
of
three
judges,and
such
inferiorcourtsas
the
legislative
council
may
by
law
prescribe;there
shall
also
be
a
secretary,
a
marshal,
Offien_
how
a
districtattorney,
and
a
surveyor-general
forsaid
Territory,
who,
aPPoiftf
,
e.
together
withthe
governor
and
judges
of
thesupremecourt,shall
be
appointed
by
thePresident,
by
and
with
the
adviceand
consent
of
the
Senate,
and
the term
of
offiee
for
each,
themanner
of
their
appointment,
and
the
powers,
duties,
andthe
compensation
of
the
governor,
legislativeassembly,
judges
of
the
supremecourt,
secretary,marshal,district
attor-ney,and
surveyor-general
aforesaid,
with
their
clerks,
draughtsman,
depu-
ties,
and
sergeant-at-arms,
shallbe
suchas
are
,
iferred
upon
the
same
officers
by
the
act
organizingthe
Territorial
government
of
New
Mexico,which
subcrdinate
officers
shall
beappointed
inthe
same
manner,and
notexceed
in
number
those
created
by
said
act;
and acts amendatory
Aetsgvernng
thereto,togetherwith
all
legislative
enactments
ofthe
Territory
of
New
e
to
this
ter-
Mexico
not
inconsistent
with
the
previsions
of
this
act,
are
hereby
ex-
ritoy.
tended
to
and
continued
in
force
in the
said
Territoryof
Arizona,
until
repealed
or
amended
by
futurelegislation:
Provided,
That
nosalary
PmvOY.
shall
be
due
or
paid
the
officers
created
by
this
actuntiltheyhave
en-
tered
upontheduties
of
their
respective
offices
within
the
said
Territory'.
Szo.
8.
And
b
it
further
enacted,
That
there
shall
neitherbeslavery
Slavew
not
to
norinvoluntary
servitude
in
the
said
Territory,
otherwise
than
inthe
02i4
theW'
punishment
of
crimes,
whereoftheparlies
shall
have
been
duly
con-
victed;and
allactsandparts
of
acts,
either
of
Congress
orof
the
Ter-
ritoryof
New
Mexico,
establishing,
regulating,
or
in
anyway
recognizing
the
relation
of
masterandslave
in
said
Territory,
are
hereby
repealed.
AnPnOVZD,
February
24,
1868.
Cnave.
LVIIL
-kA
Act
to
prvd
a
natkn
o
wn
eewy.
sw
by
aP*1g.
of
thnt
Feb.
g6
,
1M5
States&l,
and
to
proe
for
the
Circulaijon
and
Riedmso
I
thmrof~
Be
it
enacted
by
the
&seate
and
House
of
Repreentatives
of
do
Visited
taes
of
America
in
Congress
auembUe4
That
there
shall
be
established
Burmu
of
oeur.
in
theTreasury
Department
a
separatebureau,
which
shall
be
charged
rency.
with
the
execution
of thisandall
other
laws
that
may
be
passed
by
Con-
gress
respecting
the
issue
andregulation
of
a
national
currency
secured
by
United
States
bonds.
Thechief
officer
of
the
said
bureau
shallbe
denominated
the
comptrollerof thecurrency,andshall
beunder
the
Comptrole
of
general
direction
of
the
Scretary
of
theTreasury.
He
shall
be
ap-
eueney;
-
pointed
by
thePresident,
on
the
nomination
oftheSecretary
of
the
m
t
Treasury,
by
and
with
the
advice
and
consent
of
the Senate,
and
shall
WW_
hold
his
office
for
the
termof
five
years
unless-'sooner
removed
by
the
VOL.
an.
Pu&.-84
HeinOnline -- 12 Stat. 665 1855-1863
 
686
TIitTY-SEVE14TH
CONGflESS.-
Szss.
U
.
Dr.
58.
1868.
President,
by
and
with
the
advice
and
consent
of
the
Senate;
he
shall
receive
an annual salary
of
five
thousand
dollars;
he
shall have
a
com-
Oeputy
eomp-
petentdeputy,
appointed
by
theSecretary,
whose
salary
shall be
two
troller;
salary;
thousand
five
hundred
dollars,andwho
shall
possess
the
power
and
per-
duties.
form
the
dutiesattached
by
law
to
the
office
of
comptroller
during
a
vacancy
in
such
office,
and
during
his
absence
orinability;
he
shall
em-
ploy,
from
time
to
time,
the
necessary
clerks
to
discharge
such
duties
as
Clerks.
he
shall
direct,
which
clerks
shall
be
appointed
and
classified
by
the
Secretary
of
the
Treasury
in
the manner
now
provided
by
law.
Within
fifteen
days
from
the time
of
notice
of
his
appointment,the
comptroller
Oath
and
bond
shall
takeand
subscribe
the
oath
of
office
prescribed
by
the
Constitution
of
Comptroller
and
laws
of
the United
States;
and he
shall
give
to
the
United
States
a
and
deputy.
bond
in
thepenalty
of
one
hundred
thousand
dollars,
with
not
less
than
two responsible
freeholders
as
sureties,to
be
approved
by
the
Secretary
of
the
Treasury,
conditioned
for
the
faithful
discharge
of
the
duties
of
his
office.
The
deputy
comptroller
so
appointed
shall
also
takethe
oath
of
office
prescribed
by
the
Constitution
and
laws
of
theUnited
States,
and
-shall
give
a
like
bond in
the penalty
of
fifty
thousanddollars.
The
comptroller
and depyty
comptroller
shall
not,
either
directly
or
indi-
rectly,
be
interestedin
any
association
issuing
national
currencyunder
the
provisions
of
thisact.
Seal
of
ofice,
.
SEc.
2.
And
be
it
further
emaed
That
the
comptroller
of the-
cur-
rency,
with
the
approval
of
the Secretary
of
the Treasury,
shalldevise a
seal,
with
suitable
inscriptions,for
his
office,
a
description
of
which,
with
A
certificate
of
approval
by
theSecretary
of
the
Treasury,
shall be
filed
in
the
office
of
the Secretary
of
State
with
an
impression
thereof,
which
Certificates,
shall
thereupon
become
theseal
of
office
of
the
comptroller
ofthe
cur-
&c.,
under
seal
to
rency,
and
the
same
may
be
renewed
when
necessary.
Every
certificate,
be received
in
assignment,
and
conveyance
executed
by
the
comptroller,
inpursuance
evidence,
of
any
authority
conferredon
him
by
law,
and
sealed with
his
seal
of
office,
shall
be
received
in
evidence
inall
places
and
courts
whatsoever;
and
all
copies
of
papers
in
the
office
of
the
comptroller,
certified
by
himandauthenticated
by
the
said
seal,
shall
in
all
cases
be
evidence
equally
impreson
may
and
inlike
manner
as
the
original.
An
impression
of
suchseal
directly
be on
paper.
on
the
paper
shall
be as
valid
as
if
made
on
wax
or
wafer.
Rooms
in
Treu-
SEC.
8.
And
&e
it
further
enacted,
That
there
shall
be
assigned
to
the
ury
building
for
comptroller
of the
currency
by
the
Secretary
of
the
Treasu
suitable
bureau.
I~
rooms in
the treasury
building
forconducting
the
business
o
the
cur-
Fire-proof
vaults.
rency
burpau,
in
which
shall
be
safe
and
secure
fire-proof
vaults, in
which
it
shall be
the duty
of
the
comptroller
to
deposit
and
safely
keep
all
the platesandother
valuable
things
belonging
to his
department;
andthe
comptroller
shall fromtime
to time furnish
the
necessary
furniture,
stationery,
fuel,lights,
andotherproper
conveniences
for
the
transaction
of
the
said
business.
"Unitedptates
SEC.
4
And
be
it
further
enacted,
That
the
term "United States
bonds,,tobe-
bonds,"
asused
in
this
act,
shall
be
construedto
mean
all
coupon
and
what.
registered
bonds
nowissued
orthat
mayhereafter
be
issued
on
the
faith
of the United States
by
the
Secretary
of
the
Treasury
in
pursuance
of
law.
Bankingasso-
SEC.
5.
And
be
it
further
enacted,
That
associations
for
carrying
on
elations,
how
the
business
of
bankingmay be
formed
by
any
number
of
persons,
not
formed.
lessin
any
case
than
five.
Certificate
to
SEC.
6.
And
be
it
further
enaced
That
persons
uniting
to
form such
specify
what.
an
association
shall,under
their
hands
and
seals,
make
a
certificate which
shall
specify-
First.
The
name
assumed
by
such
association.Second.
The
place
where
its
operations
of
discount
and
deposits
are
to
be
carried
on;
designating
the
State,
Territory,
or
district,and
also
the
particularcity,
town,
or
village.
HeinOnline -- 12 Stat. 666 1855-1863
 
THIRTY-SEVENTH
CONGRESS.
Szss.
III.
C
58.
1863.
667
Third.
The
amount
of
its
capital
stock,
and
the number
of
shares
into
which
the
sameshall
bedivided;
which
capital
stock
shall
not
be
less
than
fifty
thousand
dollars;
and
in cities
whose
populationis
over
tenthousand
persons,
the
capital
stock shall
not be
less
than
one
hundredthousand
dollars.
Fourth.The
names and
places
of
residence
of
the shareholders,
andthe number
of
shares
held
by
each
of
them.
Fifth.
The
time when
such
association
shall
commence.
Sixth.
A
declaration
that
said certificateis made
to enable such
per-
sons
to
avail
themselves
of
the
advantages
of
this
act.
The
said
certificate
shall
be acknowledgedbefore
a
judge
of
some
Cerdficate
to
be
court
of
record
or
a
notaW
public,
and
the
acknowledgement
thereof
acknowledged,
certified,
and
pro-
certified
under
the
seal
of such
court
or notary,
and
shall
be
transmitted
served
noof
together
with
a
copy
of
the
articles
of
association
which
shall
have
been
comptroller.
adopted, to
the
comptroller
of
the
currency,
who
shallrecord
and
care-
fully
preserve
the
same
in
his
office.
Copies
of
such
certificate,
duly
Autheticated
certified
by
the
comptroller,
and
authenticated
by
his seal
of
office,
shall
e'
be
legal
and
sufficient
evidence inall courts
and
places
within
the UnitedStates,
or
the jurisdiction
of
the
Government
thereof,
of
the
existence
of
such
association,
and
of
every
othermatter
or
thing
which could
be
proved
by
the
production
of
the
original
certificate.
SEC.
7.
And
b6e
it
frlAer
enacted,
That
at
least
thirtyper centun
of
Cap,
Wdtck,
the
capital
stock
of
such
association
shall
be
paid in
at
the
time
of
the
how
pald
'a
commencement
of
itsbanking
business,
andthe
remainderof
the
capital
stock
of
such association
shall
be
paid
in instalments
of
at
least ten
percentum
each
on
the
whole
amount
to which
the
association
shall
be
lim-
ited,
as
frequently as
one
instalment
at
the
end
of
each succeeding
two
monthsfrom thetime
of
the
commencement
of its
banking
operations,
until the
whole
of the
capital
stock
shall
be
paid in.
SEC.
8.
And
be
it
further
enacted,
That
if
any
shareholder,
or
his
as-
Stockof
delin-
signee,shkll
fail
to
payany
instalment
on
the
stockwhen
the
same
is
quest
sharehold"
required
by
the
foregoingsection
to
bepaid,
the
directors
of
such
asso-
eay
besold.
clation
may sell
the
stock
held
by
such
delinquent
shareholder,
at
public
Mode
of
sale.
auction,
having
given
three
weeks'previous notice
thereof
in
a
newspaper
published
and of
general
circulation in
the
citywhere
the
association
is
located,
if
the
samebelocatedin
a
city,
and
if
not
so
located,
then
in
a
newspaperprinted,
or of
general
circulation,
in
the
county where
the
same
islocated,to
any
person who
will
pay
the
highest price
therefor,and
not less
than
the
amount
then
due thereon, with
the
expenses
of
advertisement
and
sale;
and the
excess,
if
any,
shall be
paid to
the
de-
linquent
shareholder.
If
no
bidder
canbe
found
who
will
pay
for
such
stock
the
amount
due
thereon
to
the
association,
and
the
costs
of adver-
tisement
and
sale,
the
amountpreviously paid shall
be forfeitedto
the
association,
and
such stock
maysubsequently
be sold
as
the
directors
may
order.
Se.
9.
And
he
it
further
enacted,
That
whenever
a
certificate
shall
Comptrolle
r
to
have
been
transmitted
to
the
comptroller
ofthe currency,
as
provided in
if
neuisiuons
of
this
act,
and
the
association
taransmitting
the
same shall
notify
the
comp-
this
act
are
com.
trollerthat
at
least
thirty
per
centum
of
its
capital
stock has
been paid
as
Plied
with.
aforesaid,
and
that
such
association
has
complied
with
all the
provisions
of
this
act
required
to be complied
with
before
such
association
shall
be
authorized to
commence
the
business
of
banking,
and
that
such association
is
desirous
of
commencing
such
business,
the
comptrollershall immedi-
ately
proceed,
in
such
manneras
he
shall
bygeneral
rules
prescribe,
to
examine
the
condition
of
such association;toascertain especially
the
amount
of
money paid
in
on account
of
its
capital
stock;the
name
andplace
of
residence
of
each
of
the
directors
of
suchassociation,
aind
the
amountof
the
capital
stock
of
whicheach
is
the
bona
fide
owner,
andgenerally whether
such
association
has
complied
with
all the require-
HeinOnline -- 12 Stat. 667 1855-1863

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