and four), directing that all bonds, notes, and checks shall be printed on hand-roller presses shall not apply to checks, the backs and tints of all United States bonds, the backs and tints of all United States paper money, and the backs and tints of bonds and paper money issued by any of the insular possessions of the United States, any or all of which shall be printed from intaglio plates and on such plate printing presses as may be directed by the Secretary of the Treasury, said presses to be operated by plate printers, except that checks and tints may be printed by any desired process: Provided, That the backs of all United States paper money shall be printed from four-subject plates, and the faces of all internal-revenue stamps now printed from intaglio plates on hand-roller or power plate printing presses shall continue to be printed from intaglio plates on hand-roller or power plate printing presses, as the Secretary of the Treasury may determine, said presses to be operated by plate printers: Provided further, That should the Secretary of the Treasury decide to print on the aforesaid power plate printing presses any of the classes of work hereinbefore permitted to be printed on such presses, not more than one-fifth of the total number of hand-roller presses required to produce the estimated quantity of such work in any fiscal year shall be displaced in such fiscal year: Provided further, That the Secretary of the Treasury may, in his discretion, apply motors to hand-roller presses that are now, or may hereafter be, operated in the Bureau of Engraving and Printing, but such presses, if equipped with motors, shall be regarded as hand-roller presses within the meaning of this Act. (37 Stat. 430.) These were provisions accompanying appropriations for engraving and printing in the sundry civil appropriation act for the fiscal year 1913, cited above. § 6557. (R. S. § 3579.) Reissue of United States notes. When any United States notes are returned to the Treasury, they may be re-issued, from time to time, as the exigencies of the public interest may require. Act Feb. 25, 1862, c. 33, § 1, 12 Stat. 345. Act July 11, 1862, c. 142, § 1, 12 Stat. 532. Act March 3, 1863, c. 73, § 3, 12 Stat. 710. Further provisions for the reissue of United States notes were made by Act May 31, 1878, c. 146, and Act March 14, 1900, c. 41, § 6, as amended, post, §§ 6562, 6567. § 6558. (R. S. § 3580.) Replacing mutilated notes. When any United States notes returned to the Treasury are so mutilated or otherwise injured as to be unfit for use, the Secretary of the Treasury is authorized to replace the same with others of the same character and amounts. Act March 17, 1862, c. 45, § 4, 12 Stat. 370. § 6559. (R. S. § 3581.) Destruction of notes. Mutilated United States notes, when replaced according to law, and all other notes which by law are required to be taken up, and not re-issued, when taken up, shall be destroyed in such manner and under such regulations as the Secretary of the Treasury may prescribe. Act March 17, 1862, c. 15, § 4, 12 Stat. 370. The destruction of national bank notes, United States notes, etc., by maceration instead of by burning, was authorized by Act June 23, 1874, c. 455, § 1, post, § 6560. § 6560. (Act June 23, 1874, c. 455, § 1.) Maceration of national bank notes, United States notes, etc. For the maceration of national bank notes, United States notes, and other obligations of the United States authorized to be destroyed * ; and that all such issues hereafter destroyed may be destroyed by maceration instead of burning to ashes, as now provided by law; and that so much of sections twenty-four and fortythree of the national-currency act as requires national bank notes to be burned to ashes is hereby repealed; that the pulp from such macerated issue shall be disposed of only under the direction of the Secretary of the Treasury. (18 Stat. 206.) This was a provision of the sundry civil appropriation act for the fiscal year 1875, cited above. The provisions of the national currency act mentioned in this paragraph, Act June 3, 1864, c. 106, §§ 24, 43, were incorporated in R. S. §§ 5184, 5225, post, §§ 9723, 9812. They provided for the destruction by burning of wornout or mutilated circulating bank notes and notes of insolvent banks. § 6561. (R. S. § 3582.) Reduction of the currency suspended. The authority given to the Secretary of the Treasury to make any reduction of the currency, by retiring and canceling United States notes, is suspended. Act April 12, 1866, c. 39, § 1, 14 Stat. 31. Act Feb. 4, 1868, c. 6, 15 Stat. 34. This section was practically superseded by a provision of Act May 31, 1878, c. 146, post, § 6562, which forbade the Secretary of the Treasury, or other officer under him to cancel or retire any more of the United States legal-tender notes. The amount of United States notes outstanding and to be used as a part of the circulating medium was not to exceed $382,000,000, by Act June 20, 1874, c. 343, § 6, post, § 6563. § 6562. (Act May 31, 1878, c. 146.) Further cancellation or retirement of United States legal-tender notes prohibited. From and after the passage of this act it shall not be lawful for the Secretary of the Treasury or other officer under him to cancel or retire any more of the United States legal-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. (20 Stat. 87.) This was an act entitled "An act to forbid the further retirement of United States legal-tender notes." This act practically superseded R. S. § 3582, ante, § 6561. At the time of the passage of this act, the amount of legal-tender nctes outstanding was $346,681,016. Other provisions for the reissue of United States notes were made by R. S. § 3579, ante, § 6557, and Act March 14, 1900, c. 41, § 6, as amended, post, § 6563. The appropriations for engraving and printing, made by the sundry civil appropriation acts for each fiscal year and by the various deficiency appropriation acts, are followed by provisions that no portion of the sum appropriated shall be expended for printing United States notes or treasury notes of larger denomination than those that may be canceled or retired, except in so far as such printing may be necessary in executing the requirements of the Parity Act of March 14, 1900, c. 41, ante, §§ 6480-6486. The provisions for the fiscal year 1914 were by Act June 23, 1913, c. 3, § 1, 38 Stat. 19. Provisions for the issue of United States notes of small denominations whenever the outstanding silver certificates of such denominations should be insufficient to meet the public demand therefor, and for the retirement of an equal amount of United States notes of higher denominations, accompanied with a proviso that the aggregate amount of United States notes at any time outstanding should remain as at present fixed by law, were made by Act March 4, 1907, c. 2913, § 2, ante, § 6489. § 6563. (Act June 20, 1874, c. 343, § 6.) Limitation of amount of United States notes in circulation. The amount of United States notes outstanding and to be used as a part of the circulating-medium, shall not exceed the sum of three hundred and eighty-two million dollars, which said sum shall appear in each monthly statement of the public debt, and no part thereof shall be held or used as a reserve. (18 Stat. 124.) This section was part of an act fixing the amount of United States notes, providing for a redistribution of national bank currency, etc., other sections of which are set forth post, under Title LXII, "National Banks." § 6564. (R. S. § 254.) Deposits of gold. The Secretary of the Treasury is authorized to receive deposits of gold coin and bullion with the Treasurer or any assistant treasurer of the United States, in sums not less than twenty dollars, and to issue certificates therefor, in denominations of not less than twenty dollars, each, corresponding with the denominations of the United States notes. The coin and bullion deposited for or representing the certificates of deposit shall be retained in the Treasury for the payment of the same on demand. And certificates representing coin in the Treasury may be issued in payment of interest on the public debt, which certificates, together with those issued for coin and bullion deposited, shall not at any time exceed twenty per centum beyond the amount of coin and bullion in the Treasury; and the certificates for coin and bullion in the Treasury shall be received at par in payment for duties on imports. Act March 3, 1863, c. 73, § 5, 12 Stat. 711. Gold bars transferred from the assay-office at New York might be applied to the redemption of coin certificates, by Act June 22, 1874, c. 419, ante, § 6525. Certificates of deposit issued under this section were not to be paid in silver by any construction of the Bland-Allison Act to authorize the coinage of the standard silver dollar, and to restore its legal-tender character, by Act Feb. 28, 1878, c. 20, § 1, ante, § 6453. The use of coin certificates issued under this section for payment to depositors of bullion at the mints and assay-offices, was authorized by a provision of Act June 19, 1878, c. 329, § 1, ante, § 6513. But so much of this act as authorized the issue of coin certificates in exchange for bullion at mints and assay-offices other than those mentioned in Rev. St. § 3545, the mints and the assay-office in New York, was repealed by Act March 3, 1879, c. 182, § 1, ante, § 6514. The provisions of this section may be regarded as superseded, to some extent, by Act July 12, 1882, c. 290, § 12, and Act March 14, 1900, c. 41, § 6, as amended, post, §§ 6566, 6567. Duties on imports were payable in gold and silver coin, coin certificates, or demand-treasury notes, by Rev. St. § 3473, ante, § 6379. § 6565. (Act June 8, 1878, c. 170.) Deposits of gold to be received by superintendents of mints or assayers of assay-offices. The Secretary of the Treasury be and he is hereby authorized to constitute any superintendent of mint or assayer of any assayoffice, an assistant treasurer of the United States without additional compensation, to receive gold coin and bullion on deposit for the purposes provided for in section two hundred and fifty-four of the Revised Statutes. (20 Stat. 102.) R. S. § 254, mentioned in this section, is set forth ante, § 6564. § 6566. (Act July 12, 1882, c. 290, § 12.) Deposits of gold coin. The Secretary of the Treasury is authorized and directed to receive deposits of gold coin with the Treasurer or assistant treasurers of the United States, in sums not less than twenty dollars, and to issue certificates therefor in denominations of not less than twenty dollars each, corresponding with the denominations of United States notes. The coin deposited for or representing the certificates of deposits shall be retained in the Treasury for 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; and such certificates, as also silver certificates, when held by any national-banking association, shall be counted as part of its lawful reserve; and no national-banking association shall be a member of any clearing-house in which such certificates shall not be receivable in the settlement of clearing-house balances Provided, That the Secretary of the Treasury shall suspend the issue of such gold certificates whenever the amount of gold coin and gold bullion in the Treasury reserved for the redemption of United States notes falls below one hundred millions of dollars; and the provisions of section fifty-two hundred and seven of the Revised Statutes shall be applicable to the certificates herein authorized and directed to be issued. (22 Stat. 165.) This section was part of the act to enable national banking associations to extend their corporate existence, etc.; in connection with which general subject the above provisions as to the use of the certificates as part of the lawful reserve, etc., were enacted. The other sections of the act are set forth post, under Title LXII, "National Banks," c. 1. R. S. § 5207, post, § 9769, mentioned in this section, declared the offering or receiving of United States notes by national banks as collateral security, etc., for loan of money, a misdemeanor, punishable by fine and penalty. The provisions of this section may be regarded as superseded, to some extent, by the similar provisions of Act March 14, 1900, c. 41, § 6, post, § 6567. § 6567. (Act March 14, 1900, c. 41, § 6, as amended, Act May 26, This section was part of the Parity Act of 1900, cited above. |