Ante, p. 11. p. 130. ver bullion. vided in the act of January eighteenth, eighteen hundred thirty-seven, on which shall be the devices and superscriptions provided by said act; which coins together with all silver dollars heretofore coined by the United States, of Legal tender. like weight and fineness, shall be a legal tender at their R. S., 3586, ante, nominal value, for all debts and dues public and private, except where otherwise expressly stipulated in the contract. Purchase of sil. And the Secretary of the Treasury is authorized and directed to purchase, from time to time, silver bullion, at the market price thereof, not less than two million dollars worth per month, nor more than four million dollars worth per month, and cause the same to be coined monthly, as fast as so purchased, into such dollars; and a sum sufficient to carry out the foregoing provision of this act is hereby ap propriated out of any money in the Treasury not otherwise Seigniorage to appropriated. And any gain or seigniorage arising from be paid into the Treasury. this coinage shall be accounted for and paid into the Treasury, as provided under existing laws relative to the subsidiary coinage: Provided, That the amount of money at any one time invested in such silver bullion, exclusive of such resulting coin, shall not exceed five million dollars: And provided further, That nothing in this act shall be construed to authorize the payment in silver of certificates of deposit issued under the provisions of section two hundred and fifty-four of the Revised Statutes. Proviso. Ante, p. 109. The President of the United the countries Latin Union and countries to a con United States, to adopt a common ratio between SEC. 2. That immediately after the passage of this act, States to invite the President shall invite the governments of the countries composing the composing the Latin Union, so-called, and of such other other European European nations as he may deem advisable, to join the frence with the United States in a conference to adopt a common ratio between gold and silver, for the purpose of establishing, ingold and silver, ternationally, the use of bi-metallic money, and securing fixity of relative value between those metals; such conference to be held at such place, in Europe or in the United States, at such time within six months, as may be mutually agreed upon by the executives of the governments joining in the same, whenever the governments so invited, or any three of them, shall have signified their willingness to unite in the same. &c. Commissioners, how appointed. Compensation. The President shall, by and with the advice and consent of the Senate, appoint three commissioners, who shall attend such conference on behalf of the United States, and shall report the doings thereof to the President, who shall transmit the same to Congress. Said commissioners shall each receive the sum of two thousand five hundred dollars and their reasonable expen ses, to be approved by the Secretary of State; and the amount necessary to pay such compensation and expenses is hereby appropriated out of any money in the Treasury not otherwise appropriated. Silver dollars may be depos ted with Treasurer treasurers, in and assistant what sums. SEC. 3. That any holder of the coin authorized by this act may deposit the same with the Treasurer or any as sistant treasurer of the United States, in sums not less than ten dollars, and receive therefor certificates of not less than Issue of certifi ten dollars each, corresponding with the denominations of cates of deposit. the United States notes. The coin deposited for or repre- for redemption of senting the certificates shall be retained in the Treasury for certificates. the payment of the same on demand. Said certificates shall be receivable for customs, taxes, and all public dues, and, when so received, may be reissued. SEC. 4. All acts and parts of acts inconsistent with the provisions of this act are hereby repealed. SAM. J. RANDALL, Speaker of the House of Representatives. Vice-President of the United States and President of the Senate. IN THE HOUSE OF REPRESENTATIVES U. S. February 28, 1878. The President of the United States having returned to the House of Representatives, in which it originated the bill, entitled "An act to authorize the coinage of the standard silver dollar, and to restore its legal-tender character," with his objections thereto; the House of Representatives proceeded in pursuance of the Constitution to reconsider the same; and Resolved, That the said bill pass, two-thirds of the House of Representatives agreeing to pass the same. Attest: GEO. M. ADAMS Clerk. IN THE SENATE OF THE UNITED STATES February 28, 1878. The Senate having proceeded, in pursuance of the Constitution, to reconsider the bill entitled "An act to authorize the coinage of the standard silver dollar, and to restore its legal-tender character," returned to the House of Representatives by the President of the United States, with his objections, and sent by the House of Representatives to the Senate with the message of the President returning the bill; Resolved, That the bill do pass, two-thirds of the Senate agreeing to pass the same. Attest: GEO. C. GORHAM, Secretary of the Senate. Coin to be held May 2, 1878. pieces.coinage of, Ante, p. 146. [PUBLIC-No. 51.] AN ACT TO PROHIBIT THE COINAGE OF THE TWENTY CENT PIECE OF SILVER. Be it enacted by the Senate and House of Representatives of Silver 20 cent the United States of America in Congress assembled, That prohibited. from, and after the passage of this act, the coinage of the twenty cent piece of silver, by the Government of the United States be, and the same is hereby prohibited. And all laws in conflict with this act are hereby repealed. Approved, May 2, 1878. May 31, 1878. Legal tender notes, further re [PUBLIC-No. 65.] AN ACT TO FORBID THE FURTHER RETIREMENT OF UNITED STATES LEGAL-TENDER NOTES. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That tirement of, pro- from and after the passage of this act it shall not be lawful See act of Feb- for the Secretary of the Treasury or other officer under him rus ry 4,1868, ante, p. 78. R. S., 3581, to cancel or retire any more of the United States legal hibited. ante, p. 129. tender notes. And when any of said notes may be redeemed or be received into the Treasury under any law from any source whatever and shall belong to the United States, they shall not be retired cancelled or destroyed but they shall be re-issued and paid out again and kept in circulation: Provided That nothing herein shall prohibit the cancellation and destruction of mutilated notes and the issue of other notes of like denomination in their stead, as now provided by law. All acts and parts of acts in conflict herewith are hereby repealed. Approved, May 31, 1878. June 8, 1878. of mints and as constituted 28 ers. [PUBLIC-No. 79.]-AN ACT TO AUTHORIZE THE SECRETARY OF THE Be it enacted by the Senate and House of Representatives of Superintendents the United States of America, in Congress assembled, That sayers may be the Secretary of the Treasury be and he is hereby authorsistant treasur-ized to constitute any superintendent of a mint or assayer of any assay-office, an assistant treasurer of the United States without additional compensation, to receive gold coin For what pur- and bullion on deposit for the purposes provided for in section two hundred and fifty-four of the Revised Statutes. Approved, June 8, 1878. pose. LAWS RELATING TO NATIONAL BANKS AND BANKING ASSOCIA. TIONS. CHAP. CVI-AN ACT TO PROVIDE A NATIONAL CURRENCY, SECURED June 3, 1864. Vol. XIII, p. 99. bu reau established. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That Currency there shall be established in the treasury department a separate bureau, which shall be charged with the execution of this and all other laws that may be passed by congress respecting the issue and regulation of a national currency secured by United States bonds. The chief officer of the said bureau Comptroller of shall be denominated the comptroller of the currency, and shall be under the general direction of the Secretary of the Treasury. He shall be appointed by the President, on the Appointment. recommendation of the Secretary of the Treasury, by and with the advice and consent of the Senate, and shall hold the currency. Salary. Deputy comp troller. Clerks. his office for the term of five years unless sooner removed Term of office. by the President, upon reasons to be communicated by him to the Senate; he shall receive an annual salary of five thousand dollars; he shall have a competent deputy, appointed by the Secretary, whose salary shall be two thousand five hundred dollars, and who shall possess the power and perform the duties attached by law to the office of comptroller during a vacancy in such office and during his absence or inability; he shall employ, from time to time, the necessary clerks to discharge such duties as 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 shall take and subscribe the oath of office prescribed by the constitution and laws of the United States; and he shall give to the United States a bond in the penalty of one hundred thousand dollars, with not less than two responsible sureties, to be approved by the Secretary of the Treasury, conditioned for the faithful Comptroller to what time. take oath within Bond. 153 Oath and bond discharge of the duties of his office. The deputy comptrolof deputy comptroiler. ler so appointed shall also take the oath of office prescribed by the constitution and laws of the United States, and shall give a like bond in the penalty of fifty thousand dollars. Not to be in- The comptroller and deputy-comptroller shall not, either banking associa directly or indirectly, be interested in any association issuing national currency under the provisions of this act. terested in any tion. Seal of currency bureau, kept. SEC. 2. And be it further enacted, That the comptroller of the currency, with the approval of the Secretary of the Treasury, shall devise a seal, with suitable inscriptions, for and where to be his office, a description of which, with a certificate of approval by the Secretary of the Treasury, shall be filed in the office of the Secretary of State with an impression thereof, which shall thereupon become the seal of office of the comptroller of the currency, and the same may be renewed when Certain papers necessary. Every certificate, assignment, and conveyance to be evidence executed by the comptroller, in pursuance of any authority conferred on him by law, and sealed with his seal of office, shall be received in evidence in all places and courts whatsoever; and all copies of papers in the office of the comptroller, certified by him and authenticated by the said seal, shall in all cases be evidence equally and in like manner as Impression may the original. An impression of such seal directly on the paper shall be as valid as if made on wax or wafer. under such seal be upon paper. Rooms for currency bureau. vaults. SEC. 3. And be it further enacted, That there shall be assigned to the comptroller of the currency by the Secretary of the Treasury suitable rooms in the treasury building for conducting the business of the currency bureau, in which Fire-proof 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 plates not necessarily in the possession of engravers or printers, and other valuable things belonging to his department; and the comptroller shall from time to time. Furniture, &c. furnish the necessary furniture, stationery, fuel, lights, and other proper conveniences for the transaction of the said business. Term "United States Bonds" to include what. SEC. 4. And be it further enacted, That the term "United States Bonds," as used in this act, shall be construed to R. S., 5158, post, mean all registered bonds now issued, or that may hereafter be issued, on the faith of the United States by the Secretary of the Treasury in pursuance of law. p. 190. Banking asso. ciations, how SEC. 5. And be it further enacted, That associations for may be formed. carrying on the business of banking may be formed by any number of persons, not less in any case than five, who shall |