Entered according to Act of Congress, in the year 1872, by

WILLIAM A. RICHARDSON,

In the Office of the Librarian of Congress, at Washington, D. C.

CHAPTER II.

Debt which has ceased to bear interest; coin certificates; certin.

cates of deposit; debt bearing interest in currency--

25

CHAPTER III.

United States notes and fractional currency; distinctive parer:

exchange of mutilated and defaced notes, etc...

35

CHAPTER IV.

Registered and coupon bonds, how transferred; issue of dupli-

cates in case of loss or destruction; conversion of bonds; pay-

ment of interest..

55

CHAPTER V.

Coin in the treasury; sale of gold; purchase of bonds; redemp-

tion of bonds; monthly debt statement...

72

CHAPTER VI.

Obligation to pay principal and interest in coin; the sinking

fund; taxation of United States bonds.

79

CHAPTER VII.

Established policy of the country, coeval with the constitution,

to maintain the public credit, to gradually pay the principal of

all loans, and to avoid a permanent national debt.

88

PART II,

The National Banking Laws of the UNITED STATES, WITH Notes

AND REFERENCES TO THE Decisions of the CourtS AND OPINIONS

OF THE ATTORNEYS GENERAL THEREON.

1. Preliminary observations ....
2. Act of June 3, 1864, authorizing the formation of national

banks..

IOI

3. Act of June 30, 1864, section 110, taxing State banks, &c.- 142

4. Act of March 3, 1865, taxing notes of State banks, &c., and

relating to State banks converted into national banks.---- 145

5. Act of March 2, 1867, in relation to three per cent. certifi-

cates which

may

be held by banks as part of their reserves. 147

6. Act of March 26, 1867, section 2, taxing the notes of towns,

cities, and municipal corporations...

148

7. Act of February 19, 1868, defining the "place" where banks

may be taxed.

148

8. Act of February 19, 1869, to prevent the loaning of money on

United States notes and the withholding of them from use. 149

9. Act of March 3, 1869, requiring returns from banks------ 149

10. Act of March 3, 1869, in relation to certified checks.---- 151

11. Act of April 6, 1869, to punish persons aiding or abetting

officers of banks in embezzling funds.-

151

12. Act of July 8, 1870, declaring what officers are subject to the

penalties against embezzlement.--

152

13. Act of July 12, 1870, to provide for the redemption of three

per cent. certificates, for an increase of national bank notes,

and for the formation of national gold banks.--

152

14. Act of July 14, 1870, requiring national banks going into

liquidation to retire their circulating notes.-

157

15. Act of June 6, 1872, amending act taxing State banks, &c.- 158

16. Regulations as to payment of duties by national banks.----- 160

INDEX

165

PAYABLE.

Total.
1. Funded Loan of 5 Feb., May, $128,809,750 00 $71,190,250 00 $200,000,000 00 May 1, 1881
1881.

14,155,500 00 24,472,900 00 38,628,400 00 July 1, 1873 July 1, 1888
5-20's of 1868.
3. Consols of 1867, or 6 Jan., July,

90,902,100 00 224,776,100 00 315,678,200 00 July 1, 1872 July 1, 1887
5-20's of 1867.
4. Consols of 1865, or 6 Jan., July, 58,807,000 00 148,784,150 00 207,591,150 00 July 1, 1870 July 1, 1885

5-20's of 1865.
5. Five-twenties of 6 May, Nov. 36,454,250 00 119,199,600 00 155,653,850 00 Nov. 1, 1870 Nov. 1, 1885

1865.
6. Five-twenties of 6 May, Nov. 32,707,750 00 34,413,000 00 67,120,750 00 Nov. 1,1869 Nov. 1, 1884

2,298,000 00 Nov.1, 1869 Nov. 1, 1884
March, 1864.
8. Ten-forties

5 Mar., Sept. 140,026,300 00 54,541,000 00 194,567,300 00 Mar.1,1874 Mar. 1, 1904
9. Loan of 1863, or 6 Jan., July, 53,495,450 00 21,504,550 00 75,000,000 00|Jun 30,1881

6's of 1881.
10. Five-twenties of 6 May, Nov. 30,797,350 00 233,292,800 00 264,090,150 00 May 1,1867 May 1, 1832

1862.
11. Loan of July and 6 Jan., July, 125,513,550 00 63,807,800 00 189,321,350 00 Jun 30,1881

July 1, 1881
13. Loan of Feb., 1861, 6 Jan., July, 13,759,000 00 4,656,000 00 18,415,000 00

Dec.31, 1880
or 6's of 1881.
14, Loan of 1858. 5 Jan., July,

BONDED DEBT NOT MATURED, PAYABLE IN COIN.

CHAPTER 1.