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falsely made, forged, or counterfeited, or shall falsely alter, or cause cr procure to be falsely altered, or willingly aid or assist in falsely altering, any such circulating notes, issued as aforesaid, or shall pass, utter, or publish, or attempt to pass, utter, or publish, as true, any falsely altered or spurious circulating note issued, or purporting to have been issued, as aforesaid, knowing the same to be falsely altered or spurious, every such person shall be deemed and adjudged guilty of felony, and being thereof convicted by due course of law shall be sentenced to be imprisoned and kept at hard labor for a period of not less than five years nor more than fifteen years,

and fined in a sum not exceeding one thousand dollars. Making, procur

Sec. 60. And be it further enacted, That if any person ing, or having

shall make or engrave, or cause or procure to be made or false plates, dies, &c.

engraved, or shall have in his custody or possession, any plate, die, or block after the similitude of any plate, die, or block from which any circulating notes issued as aforesaid shall have been prepared or printed, with intent to use such plate, die, or block, or cause or suffer the same to be used,

in forging or counterfeiting any of the notes issued as aforeHaving false said, or shall have in his custody or possession any blank notes,

note or notes engraved and printed after the similitude of any notes issued as aforesaid, with intent to use such blanks, or cause or suffer the same to be used in forging or coun

terfeiting any of the notes issued as aforesaid, or shall have --or paper adapt- in his custody or possession any paper adapted to the maked to making

ing of such notes, and similar to the paper upon which any such notes shall have been issued, with intent to use such paper, or cause or suffer the same to be used, in forging or counterfeiting any of the notes issued as aforesaid, every such person, being thereof convicted by due course of law, shall be sentenced to be imprisoned and kept to hard labor for a term not less than five or more than fifteen

years,

and fined in a sum not exceeding one thousand dollars.

notes.

REPORT OF COMPTROLLER.

Comptroller's re-
port, when to be
made and what
to contain

SEC. 61. And be it further enacted, That it shall be the duty of the Comptroller of the Currency to report annually to Congress at the commencement of its session

First. A summary of the state and condition of every association from whom reports have been received the preceding year, at the several dates to which such reports refer, with an abstract of the whole amount of banking capital returned by them, of the whole amount of their debts and liabilities, the amount of circulating notes outstanding, and the total amount of means and resources, specifying the amount of lawful money held by them at the times of their several returns, and such other information in relation to said association as in his judgment may be useful.

Second. A statement of the associations whose business has been closed during the year, with the amount of their circulation redeemed and the amount outstanding.

Third. Any amendment to the laws relative to banking by which the system may be improved, and the security of the holders of its notes and other creditors may be increased.

Fourth. The names and compensation of the clerks employed by him, and the whole amount of the expenses of the banking department during the year. And such report shall be made by or before the first day of December in cach year, and the usual number of copies for the use of the Senate and House, and one thousand copies for the use of the Department, shall be printed by the Public Printer and in readiness for distribution at the first meeting of Congress.

FORMER ACT REPEALED.

SEC. 62. And be it further enacted, That the act entitled Repeal of act of "An act to provide a national currency, secured by a pledge February 25, 1863of United States stocks, and to provide for the circulation and redemption thereof,” approved February twenty-fifth, eighteen hundred and sixty-three, is hereby repealed: Provided, That such repeal shall not affect any appointments Saving clause. made, acts done, or proceedings had, or the organization, acts, or proceedings of any association organized or in the process of organization under the act aforesaid: And provided, also, That all such associations so organized or in Privileges of this process of organization shall enjoy all the rights and priv

banks organized ileges granted, and be subject to all the duties, liabilities, under former act and restrictions imposed by this act, and with the approval

act conferred on

of the Comptroller of the Currency, in lieu of the name specified in their respective organization certificates, may take any other name preferred by them and duly certified to the Comptroller, without prejudice to any right acquired under this act, or under the act hereby repealed; but no such change shall be made after six months from the passage of this act: Provided, also, That the circulation issued or to be issued by such association shall be considered as a part of the circulation provided for in this act.

LIABILITY OF EXECUTORS, TRUSTEES, &C.

be liable.

Estates hold by

SEC. 63. And be it further enacted, That persons holding executors, &c., to stock as executors, administrators, guardians, and trustees,

shall not be personally subject to any liabilities as stockholders; but the estates and funds in their hands shall be liable in like manner and to the same extent as the testator, intestate, ward, or person interested in said trust funds would be if they were respectively living and competent to act and hold the stock in their own names.

AMENDMENT AND REPEAL OF ACT.

Congress may re- SEC. 64. And be it further enacted, That Congress may at peal or alter act. any time amend, alter, or repeal this act.

Approved June 3, 1864.

ACT OF JUNE 30, 1864, CHAPTER 173.

AN AOT TO PROVIDE INTERNAL REVENUE FOR THE SUPPORT OF THE GOVERN

MENT, TO PAY INTEREST ON THE PUBLIC DEBT, AND FOR OTHER PURPOSES.

TAXES ON BANKS AND BANKERS, OTHER THAN NATIONAL BANKS.

Sec. 110. And be it further enacted, That there shall be levied, collected, and paid a tax of one twenty-fourth of one per centum each month 31 upon the average amount of the deposits of money, subject to payment by check or draft, or represented by certificates of deposit or otherwise, whether payable on demand or at some future day, with any person, bank, association, company, or corporation engaged in the business of banking;

Tax on average deposits.

31. Taxes imposed by this section are now payable semi-annually, on the first day of January and July, by the act of June 6, 1872, chapter 315, section 37. (See page 158.)

And a tax of one twenty-fourth of one per centum each On capital. month, 31 as aforesaid, upon the capital of any bank, association, company, or corporation, and on the capital employed 3 2 by any person in the business of banking beyond the average amount invested in United States bonds.

And a tax of one-twelfth of one per centum each month 3 1 On circulation. upon the average amount of circulation issued by any bank, association, corporation, company, or person, including as circulation all certified checks and all notes and other obligations calculated or intended to circulate or to be used as money, but not including that in the vault of the bank, or redeemed and on deposit for said bank; and an additional tax of one-sixth of one per centum, each month, upon the average amount of such circulation, issued as aforesaid, beyond the amount of ninety per centum of the capital of any such bank, association, corporation, company, or person.

And a true and accurate return of the amount of circu- Returns to be lation, of deposit, and of capital, as aforesaid, and of the amount of notes of persons, State banks, or State banking associations, paid out by them for the previous month, shall be made and rendered monthly by each of such banks, associations, corporations, companies, or persons, to the assessor of the district in which any such bank, association, corporation, or company may be located, or in which such person has his place of business, with a declaration annexed thereto, and the oath or affirmation of such person, or of the president or cashier of such bank, association, corporation, or company, in such form and manner as may be prescribed by the Commissioner of Internal Revenue, that the same contains a true and faithful statement of the amounts subject to tax as aforesaid; and for any refusal or neglect to make

made.

31. See note on preceding page.

32. The act of June 6, 1872, chapter 315, section 37, provides that" capital employed” shall not include money borrowed or received from day to day, in the usual course of banking business, from any person not a partner of, or interested in, the said bank, association, or firm.

On banks with branches.

or to render return and payment, any such bank, association, corporation, company, or person so in default shall be subject to and pay a penalty of two hundred dollars, besides the additional penalty and forfeitures in other cases provided by law; and the amount of circulation, deposit, capital, and notes of persons, State banks, and banking associations, paid out as aforesaid, in default of the proper return, shall be estimated by the assessor or assistant assessor of the district as aforesaid upon the best information he can obtain; and every such penalty may be recovered for the use of the United States in any court of competent jurisdiction.

And in the case of banks with branches, the tax herein provided for shall be assessed upon the circulation of cach branch severally, and the amount of capital of each branch shall be considered to be the amount allotted to

such branch; Repeal of former And so much of an act entitled "An act to provide ways provisions.

and means for the support of the Government," approved March three, eighteen hundred and sixty-three, as imposes any tax on banks, their circulation, capital, or deposits, other

than is herein provided, is hereby repealed: Act not to apply Provided, That this section shall not apply to associato national banks. tions which are taxed under and by virtue of the act “to

provide a national currency secured by a pledge of United

States bonds, and to provide for the circulation and redempSavings banks, tion thereof." And the deposits in associations or com

panies known as provident associations, savings banks, savings funds, or savings institutions, having no capital stock, and doing no other business than receiving deposits to be loaned or invested for the sole benefit of the parties making such deposits, without profit or compensation to the association or company, shall be exempt from tax on so much of their deposits as they have invested in securities of the United States, and on all deposits less than five hundred dollars 33 made in the name of any one person; and the returns required to be made by such provident institutions and savings banks after July, eighteen hundred

&c., how taxed.

33. The exemption is extended to two thousand dollarg by the act of June 6, 1872, chapter 315, section 37.

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