capital, the name and place of residence of each of its directors, and the amount of the capital stock of which each is the owner in good faith, and generally whether such association has complied with all the provisions of this Title required to entitle it to engage in the business of banking; and shall cause to be made and attested by the oaths of a majority of the directors, and by the president or cashier of the association, a statement of all the facts necessary to enable the Comptroller to determine whether the association is lawfully entitled to commence the business of banking."

SECT. 5169. [Comptroller's Certificate of Authority]. “If, upon a careful examination of the facts so reported, and of any other facts which may come to the knowledge of the Comptroller, whether by means of a special commission appointed by him for the purpose of inquiring into the condition of such association, or otherwise, it appears that such association is lawfully entitled to commence the business of banking, the Comptroller shall give to such association a certificate, under his hand and official seal, that such association has complied with all the provisions required to be complied with before commencing the business of banking, and that such association is authorized to commence such business. But the Comptroller may withhold from an association his certificate authorizing the commencement of business whenever he has reason to suppose that the shareholders have formed the same for any other than the legitimate objects contemplated by this Title."

See Casey v. Galli, 94 U. S. 673. Where the existence of the corporation is denied, the certificate of the Comptroller of the Currency under this section is competent evidence in proof of the disputed fact. Mix v. Bank of

Bloomington, 91 Ill. 20. The Comptroller's certificate is conclusive evidence of the incorporation. Citizens' Nat. Bank v. Great Western El. Co., 13 So. Dak. 1.

SECT. 5170. [Publication of Certificate of Authority]. "The association shall cause the certificate issued under the preceding section to be published in some newspaper printed in the city or county where the association is located, for at least sixty days next after the issuing thereof; or, if no newspaper is published in such city or county, then in the newspaper published nearest thereto.

SECT. 5171. [Repealed]. - See § 10 of the Act of 1882, and 12 of the Act of 1900, stated under § 5133, supra. The Act of March 3, 1875, ch. 130, § 1 (18 St. 372), provided

...

"That the national bank notes shall be printed under the direction of the Secretary of the Treasury, and upon the distinctive or special paper which has been, or may hereafter be, adopted by him for printing United States notes. .. Provided, That the above-named notes, currency, and other securities of the United States be executed with not less than three plate-printings: And provided further, That the Secretary of the Treasury shall have executed one or two of such printings by such responsible and capable and experienced bank-note companies or bank-note engravers as may contract for the same at the lowest cost to the Government, and at prices not greater than those heretofore paid for the same class of work; no company or establishment executing more than one printing upon the same note or obligation, and the final printing and finishing to be executed in the Treasury Department."

The Act of Aug. 13, 1894, ch. 281 (28 St. 278), provided

"That circulating notes of national banking associations and United States legal tender notes and other notes and certificates of the United States payable on demand and circulating or intended to circulate as currency and gold, silver or other coin shall be subject to taxation as money on hand or on deposit under the laws of any State or Territory: Provided, That any such taxation shall be exercised in the same manner and at the same rate that any such State or Territory shall tax money or currency circulating as money within its jurisdiction.

SEC. 2. That the provisions of this Act shall not be deemed or held to change existing laws in respect to the taxation of national banking associations."

SECT. 5172. [Preparation of Bank Circulation]." In order to furnish suitable notes for circulation, the Comptroller of the Currency shall, under the direction of the Secretary of the Treasury, cause plates and dies to be engraved, in the best manner to guard against counterfeiting and fraudulent alterations, and shall have printed therefrom, and numbered, such quantity of circulating notes, in blank, of the denominations of one dollar, two dollars, three dollars, five dollars, ten dollars, twenty dollars, fifty dollars, one hundred dollars, five hundred dollars, and one thousand dollars, 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 bonds, deposited with the Treasurer of the United States, by the written or engraved signatures of the Treasurer and Register, and by the imprint of the seal of the Treasury; and shall also express upon their face the promise of the association receiv

ing the same to pay on demand, attested by the signatures: of the president or vice-president and cashier; and shall bear such devices and such other statements, and shall be such form, as the Secretary of the Treasury shall, by regulation, direct."

By § 12 of the Act of 1900, stated under § 5133, notes cannot be issued under the value of five dollars each. See § 5 of the Act of 1874, cited, § 5191, note; Ex parte Houghton, 8 Fed. 897; Re Aldrich, 16 Id. 369, 371. The imprint of the seal of the Treasury forms no part of the contract. United States v. Bennett, 17 Blatch. 357.

SECT. 5173. [Control of Plates and Dies]."The plates and special dies to be procured by the Comptroller of the Currency for the printing of such circulating notes shall remain under his control and direction and the expenses necessarily incurred in executing the laws respecting the procuring of such notes and all other expenses of the Bureau of the Currency [except as provided by sec. 3, Act June 20, 1874, and secs. 6 and 8, Act July 12, 1882] shall be paid out of the proceeds of the taxes or duties assessed and collected on the circulation of national banking associations under this Title."

SEC. 5174. [As amended by 19 St. 252.] [Examination of Plates and Dies].-"The Comptroller of the Currency shall cause to be examined, each year, the plates, dies, bed pieces, and other material from which the national bank circulation is printed, in whole or in part, and file in his office annually a correct list of the same. Such material as shall have been used in the printing of the notes of associations which are in liquidation, or have closed business, shall be destroyed, under such regulations as shall be

prescribed by the Comptroller of the Currency and approved by the Secretary of the Treasury. The expenses of any such examination or destruction shall be paid out of any appropriation made by Congress for the special examination of national banks and bank-note plates.

The Act of Feb. 27, 1877, ch. 69 (19 St. 252), changed in the second line "but pieces" to "bed pieces."

SECT. 5175.-"Not more than one-sixth part of the notes furnished to any association shall be of a less denomination than five dollars. After specie payments are resumed, no association shall be furnished with notes of a less denomination than five dollars."

See § 12 of the Act of 1900, stated under § 5133, supra. SECT. 5176. Repealed by § 10 of the Act of 1882, stated under § 5133, supra.

SECTS. 5177-5181. Repealed by the Act of Jan. 14, 1875, ch. 15, § 3, which provided that

"each existing banking association may increase its circulating notes in accordance with existing law without respect to said aggregate limit; and new banking associations may be organized in accordance with existing law without respect to said aggregate limit; and the provisions of law for the withdrawal and redistribution of national bank currency among the several States and Territories are hereby repealed."

The last clause just quoted repeals §§ 7, 8, 9 of 18 St. 123, ch. 343. The original acts cited on § 5177 comtemplated an apportionment altogether future, and the first part of § 7 of 13 St. 484, ch. 78, was omitted in the Revision as no longer operative. 2 Commissioners' Draft