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SEC. 3. That every association organized, or to be organized, under Banks to deposit the provisions of the said act, and of the several acts amendatory in Treasury five thereof, shall at all times keep and have on deposit in the Treasury of per cent. on circulation, and counted the United States, in lawful money of the United States, a sum equal as reserve. to five per centum of its circulation, to be held and used for the redemp-R. S., § 5191, tion of such circulation; which sum shall be counted as a part of its 5192. lawful reserve, as provided in section two of this act;
tation at Treasury;
And when the circulating notes of any such associations, assorted or notes of, to be reunassorted, shall be presented for redemption, in sums of one thousand deemed on presendollars, or any multiple thereof, to the Treasurer of the United States, how disposed of, the same shall be redeemed in United States notes. All notes so re- &c. deemed shall be charged by the Treasurer of the United States to the 1875, March 3, respective associations issuing the same, and he shall notify them sev. ch. 130, § 3. erally, on the first day of each month, or oftener, at his discretion, of the amount of such redemptions; and whenever such redemptions for any association shall amount to the sum of five hundred dollars, such association so notified shall forthwith deposit with the Treasurer of the United States a sum in United States notes equal to the amount of its circulating-notes so redeemed.
And all notes of national banks worn, defaced, mutilated, or otherwise mutilated notes unfit for circulation shall, when received by any assistant treasurer or and destroyed, and of, to be redeemed at any designated depository of the United States, be forwarded to, the others forwarded Treasurer of the United States for redemption as provided herein. And to the banks. when such redemptions have been so re-imbursed, the circulating-notes so redeemed shall be forwarded to the respective associations by which they were issued; but if any of such notes are worn, mutilated, defaced, or rendered otherwise unfit for use, they shall be forwarded to the Comptroller of the Currency and destroyed and replaced as now provided by law:
Provided, That each of said associations shall re-imburse to the Treas--to reimburse ury the charges for transportation, and the costs for assorting such Treasury for cost notes; and the associations hereafter organized shall also severally re- and assorting imburse to the Treasury the cost of engraving such plates as shall be notes, engraving ordered by each association respectively; and the amount assessed upon plates, &c. each association shall be in proportion to the circulation redeemed, and 1875, March 3, ch. 130, § 3. be charged to the fund on deposit with the Treasurer:
And provided further, That so much of section thirty-two of said national-bank act requiring or permitting the redemption of its circulating notes elsewhere than at its own counter, except as provided for in this section, is hereby repealed.
not to redeem notes
than at their own counters.
R. S., § 5192, 5195, 5226.
how may withcirculation
and take up bonds
SEC. 4. That any association organized under this act, or any of the acts of which this is an amendment, desiring to withdraw its circulat. draw ing notes, in whole or in part, may, upon the deposit of lawful money with the Treasurer of the United States in sums of not less than nine R. S., § 5159, thousand dollars, take up the bonds which said association has on de- 5222. posit with the Treasurer for the security of such circulating notes; 16 Opin. Att'y which bonds shall be assigned to the bank in the manner specified in Gen., 663. the nineteenth section of the national-bank act; and the outstanding notes of said association, to an amount equal to the legal tender notes deposited, shall be redeemed at the Treasury of the United States, and destroyed as now provided by law:
Provided, That the amount of the bonds on deposit for circulation shall not be reduced below fifty thousand dollars.
SEC. 5. That the Comptroller of the Currency shall, under such rules and regulations as the Secretary of the Treasury may prescribe, cause to be printed on the charter-numbers of the association to be printed upon all nationalbank notes which may be hereafter issued by him.
SEC. 6. That 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
Limit to issue of United States notes.
R. S, § 3582.
1875, Jan. 14, ch. 15, § 3.
1878, May 31, ch. 146.
appear in each monthly statement of the public debt, and no part thereof shall be held or used as a reserve.
SEC. 7. (2) (Sup.) [That so much of the act entitled "An act to proapportionment of vide for the redemption of the three per centum temporary loan cerR. S., § 5179. tificates, and for an increase of national bank notes" as provides that 1875, Jan. 14, ch. no circulation shall be withdrawn under the provisions of section six (3) 15, § 3. of said act, until after the fifty-four millions granted in section one of said act shall have been taken up, is hereby repealed; and it shall be the duty of the Comptroller of the Currency, under the direction of the Secretary of the Treasury, to proceed forthwith, and he is hereby authorized and required, from time to time, as applications shall be duly made therefor, and until the full amount of fifty-five million dollars shall be withdrawn, to make requisitions upon each of the national banks described in said section, and in the manner therein provided, organized in States having an excess of circulation, to withdraw and return so much of their circulation as by said act may be apportioned to be withdrawn from them, or, in lieu thereof, to deposit in the Treasury of the United States lawful money sufficient to redeem such circulation, and upon the return of the circulation required, or the deposit of lawful money, as herein provided, a proportionate amount of the bonds held to secure the circulation of such association as shall make such return or deposit shall be surrendered to it.]
sition of Comptroller.
1875, Jan. 14, ch. 15, § 3.
SEC. 8. (Sup.) [That upon the failure of the national banks upon when bank fails to which requisition for circulation shall be made, or of any of them, to comply with requi- return the amount required, or to deposit in the Treasury lawful money to redeem the circulation required, within thirty days, the Comptroller of the Currency shall at once sell, as provided in section forty-nine of the national-currency act approved June third, eighteen hundred and sixty-four, bonds held to secure the redemption of the circulation of the association or associations which shall so fail, to an amount sufficient to redeem the circulation required of such association or associations, and with the proceeds, which shall be deposited in the Treasury of the United States, so much of the circulation of such association or associations shall be redeemed as will equal the amount required and not returned; and if there be any excess of proceeds over the amount required for such redemption, it shall be returned to the association or associations whose bonds shall have been sold. And it shall be the duty of the Treasurer, assistant treasurers, designated depositaries, and national bank depositaries of the United States, who shall be kept informed by the Comptroller of the Currency of such associations as shall fail to return circulation as required, to assort and return to the Treasury for redemption the notes of such associations as shall come into their hands until the amount required shall be redeemed, and in like manner to assort and return to the Treasury, for redemption, the notes of such national banks as have failed, or gone into voluntary liquidation for the purpose of winding up their affairs, and of such as shall hereafter so fail or go into liquidation.]
1875, Jan. 14, ch. 15, § 3.
SEC. 9. (Sup.) [That from and after the passage of this act it shall of circulation be lawful for the Comptroller of the Currency, and he is hereby required, to issue circulating-notes, without delay, as applications therefor are made, not to exceed the sum of fifty-five million dollars, to associations organized, or to be organized, in those States and Territories having less than their proportion of circulation, under an apportionment made on the basis of population and of wealth, as shown by the returns of the census of eighteen hundred and seventy; and every association hereafter organized shall be subject to, and be governed by, the rules, NOTES. (2) Sections 7, 8, and 9 are superseded and rendered inoperative by the act of 1875, January 14, ch. 15, § 3.
(3) The provision of the act of 1870, ch. 252, § 6 (16 Stat. L., 253), here referred to, is incorporated into Revised Statutes in section 5179, noted in the margin.
restrictions, and limitations, and possess the rights, privileges, and franchises, now or hereafter to be prescribed by law as to national banking associations, with the same power to amend, alter, and repeal provided by "the national bank act:" Provided, That the whole amount of circulation withdrawn and redeemed from banks transacting business shall not exceed fifty-five million dollars, and that such circulation shall be withdrawn and redeemed as it shall be necessary to supply the circulation previously issued to the banks in those States having less than their apportionment: And provided further, That not more that thirty million dollars shall be withdrawn and redeemed as herein contemplated during the fiscal year ending June thirtieth, eighteen hundred and seventy-five] [June 20, 1874.]
AN ACT TO PROVIDE FOR THE ESTABLISHMENT OF LIFE-SAVING STATIONS AND HOUSES
June 20, 1874. 18 Stat. L.,
[SECTION 1], That the Secretary of the Treasury is hereby authorized to establish life-saving stations, life-boat stations, and houses of refuge, and houses of reffor the better preservation of life and property from shipwreck, at or in uge to be estabthe vicinity of the following-named points upon the sea and lake coasts lished on coast of. of the United States, namely: 1881, March 2, ch. 111. R. S., § 4242-4251.
ON THE COAST OF DELAWARE.
Cape Henlopen, a complete life-saving station; Indian River, a com- ch. 265, § 1. plete life-saving station.
ON THE COAST OF MARYLAND.
Green Run Inlet, a complete life-saving station.
ON THE COAST OF VIRGINIA.
Chincoteague, a complete life-saving station; Watchapreague Inlet, a complete life-saving station; Hog Island, a complete life-saving station; Sandy Shoal Island, a complete life-saving station; Smith's Island, a complete life-saving station.
ON THE COAST OF FLORIDA.
Maryland; 1878, June 18, ch. 265, § 1.
Virginia; 1878, June 18, ch. 265, § 1.
About eighteen miles north of Indian River Inlet, a house of refuge; Florida; Gilbert's Bar, a house of refuge; near Orange Grove, a house of ref uge; between Hillsborough and New River Inlet, a house of refuge; about ten miles south of New River Inlet, a house of refuge.
ON THE COAST OF WASHINGTON TERRITORY.
Neah Bay, a life-boat station; Shoalwater Bay, a life-boat station; Territory; Cape Disappointment, a life boat station.
ON THE COAST OF OREGON.
Cape Arago, a life-boat station.
See 1878, June 18, ch. 265, § 1.
Lake Huron; 1878, June 18, ch. 265, § 1.
ON THE COAST OF CALIFORNIA.
Humboldt Bay, a life-boat station; (Rep.) [Point Reyes,] a lifeboat station; between Point Lobos and Point San Pedro, a life-boat station; Point Concepcion, near the light house, a life-boat station.
ON THE COAST OF LAKE ONTARIO.
Mexico Bay, about seven miles westward of Stony Point, a complete life-saving station; Mexico Bay, about seven miles eastward of Nine Mile Point, a complete life-saving station; Oswego, a life-boat station; Charlotte, a life-boat station.
ON THE COAST OF LAKE ERIE.
Buffalo, a life-boat station; Presque Isle, a complete life-saving station; Fairport, a life-boat station; Cleveland, a life-boat station; Marblehead, (Sandusky,) a life-boat station.
ON THE COAST OF LAKE HURON.
Point aux Barques, a complete life-saving station; Tawas, a complete life saving station; Sturgeon Point, a complete life-saving station; North Point, Thunder Bay, a life-boat station; Forty-Mile Point, a complete life-saving station.
Lake Michigan; ON THE COAST OF LAKE MICHIGAN. 1878, June 18,
ch. 265, § 1.
1878, June 18,
ch. 265, § 1.
Beaver Island, a life boat station; North Manitou Island, a life-boat station, Point aux Bec Scies, a complete life-saving station; Grande Pointe au Sauble, a complete life-saving station. Grand Haven, a life-boat station; Saint Joseph's, a life-boat station; Chicago, a lifeboat station; Grosse Point, a complete life-saving station; Racine, a life-boat station; Milwaukee, a life-boat station; Sheboygan, a life-boat station; Twin Rivers Point, a life-boat station.
ON THE COAST OF LAKE SUPERIOR.
Between White Fish Point and Point au Sauble, four complete lifesaving stations.
SEC. 2. That the Secretary of the Treasury is hereby authorized, whenon the coasts and ever, in his opinion, it may become necessary for the proper administrakeepers of stations, tion of the Life-Saving Service, and the protection of the public property at the stations and houses of refuge herein authorized to be established, to appoint one superintendent for the coasts of Delaware and Virginia, one for the coast of Florida, one for the coasts of Lakes Erie and Ontario, one for the coasts of Lakes Huron and Superior, and one for the coast of Lake Michigan, and also a keeper for each of said stations and houses of refuge;
- their compensation.
And the said superintendents shall have the powers, and perform the duties of inspectors of customs.
SEC. 3. That the compensation of each of the superintendents, to be appointed under the provisions of the preceding section, shall not exceed one thousand dollars per annum; and the compensation of the keepers shall not exceed two hundred dollars per annum, except that those employed at the houses of refuge on the Florida coast shall reside in said houses and receive a compensation at the rate of forty dollars per month. SEC. 4. That the Secretary of the Treasury is hereby authorized to apintendent for coast point an assistant to the superintendent of the coast of Long Island and of Long Island and Rhode Island, who shall perform the duties required of the superintendent at the life-saving stations within the State of Rhode Island, and reside on Block Island, and for his services he shall receive an annual salary of five hundred dollars.
Crews and surf
SEC. 5. That the Secretary of the Treasury is hereby authorized to employ crews of experienced surfmen at such of the stations herein denom. inated complete stations and at such of the life-boat stations on the Pacific coast as he may deem necessary and proper, for such periods, and at such compensation, not to exceed forty dollars per month, as he may deem necessary and reasonable.
SEC. 6. That the Secretary of the Treasury may accept the services of may be accepted, volunteer crews at any of the life-boat stations herein authorized, who
shall be subject to the rules and regulations governing the Life-Saving paid, and given Service; and a list of the names of each crew shall be kept in the office medals in certain of the Secretary of the Treasury.
1878, June 18, ch.
Such volunteers shall receive no compensation except a sum of not more 265, § 10. than ten dollars each for every occasion upon which they shall have been instrumental in saving human life, and such of the medals herein authorized as they may be entitled to under the provisions hereinafter made: Provided, That no payment shall be made to any person who shall not have actually participated in the efforts to save the life or lives rescued. SEC. 7. That the Secretary of the Treasury is hereby directed to cause to be prepared medals of honor, with suitable devices, to be distinguished may be given to as life-saving medals of the first and second class, which shall be bestowed persons who enupon any persons who shall hereafter endanger their own lives in saving, lives to save others danger their own or endeavouring to save lives from perils of the sea, within the United at sea. States, or upon any American vessel:
Medals of honor
1878, June 18, ch.
Provided, That the medal of the first class shall be confined to cases of 265, §12. extreme and heroic daring; and that the medal of the second class shall be given in cases not sufficiently distinguished to deserve the medal of the first class:
Provided, also, That no award of either medal shall be made to any person until sufficient evidence of his deserving shall have been filed with the Secretary of the Treasury and entered upon the records of the Department.
SEC. 8. That the Secretary of the Treasury is hereby authorized to make all necessary regulations for the government of the Life-Saving Service life-saving service. not inconsistent with law.
SEC. 9. That the Secretary of the Treasury is hereby authorized to dispose of, to the best advantage, after due condemnation by board of survey, such articles or materials belonging to the Life-Saving Service as may, from long continued use or other cause, become unserviceable and the proceeds of such sale shall be covered into the Treasury.
Disposal of condemned articles. R. S., § 3618,
1878, June 18, ch. 265, § 3. SEC. 10. That from and after the first day of July, eighteen hundred Owners, agents, and seventy-four, whenever any vessel of the United States has sustained or masters of vesor caused any accident involving the loss of life, the material loss of prop: dents to collectors sels to erty, or any serious injury to any person, or has received any material of customs. damage affecting her seaworthiness or her efficiency, the managing owner, agent, or master of such vessel, shall within five days after the happening of such accident or damage, or as soon thereafter as possible, send, by letter to the collector of customs of the district wherein such vessel belongs or of that within which such accident or damage occurred, a report thereof, signed by such owner, agent, or master, stating the name and official number (if any) of the vessel, the port to which she belongs, the place where she was, the nature and probable occasion of the casualty, the number and names of those lost, and the estimated amount of loss or damage to the vessel or cargo; and shall furnish, upon the request of either of such collectors of customs, such other information concerning the vessel, her cargo, and the casualty as may be called for;
And if he neglect or refuse to comply with the foregoing requirements -penalty on, for after a reasonable time, he shall incur a penalty of one hundred dollars. neglect. SEC. 11. That whenever the managing owner or agent of any vessel of to report to colthe United States has reason, owing to the non-appearance of such ves- lector probable loss sel, or to any other circumstance, to apprehend that such vessel has been of vessels, &c. lost, he shall, as soon as conveniently may be, send notice, in writing, to the collector of customs of the port to which said vessel belonged, of such loss, and the probable occasion thereof stating the name and the official number (if any) of the vessel, and the names of all persons on board, so far as the same can be ascertained, and shall furnish, upon request of the collector of such port, such additional information as he may be able;
And if he neglect to comply with the above requirements within a rea--penalty on, for sonable time, he shall incur a penalty of one hundred dollars.
SEC. 12. That it shall be the duty of the collectors of customs to im- Collectors to mediately transmit to the Secretary of the Treasury such reports and transmit to Secre