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APPENDIX 
edness plus the amount so invested by such bank or trust 
company, and such deposits shall be secured in the man- 
ner required for other deposits by section fifty-one hun- 
dred and fifty-three, Revised Statutes, and amendments 
thereto: Provided further, That the provisions of section 
fifty-one hundred and ninety-one of the Revised Statutes, 
as amended by the Federal Reserve Act and the amend- 
ments thereof, with reference to the reserves required 
to be kept by national banking associations and other 
member banks of the Federal Reserve System, shall not 
apply to deposits of public moneys by the United States 
in designated depositaries. 
Section 8 of the Second Liberty Bond Act, approved September 24. 
1917 8 
Sec. 8. That the Secretary of the Treasury, in his 
discretion, is hereby authorized to deposit, in such incor- 
porated banks and trust companies as he may designate, 
the proceeds, or any part thereof, arising from the sale 
of the bonds and certificates of indebtedness and war- 
savings certificates authorized by this Act, and such 
deposits shall bear such rate or rates of interest, and 
shall be secured in such manner, and shall be made upon 
and subject to such terms and conditions, as the Secretary 
of the Treasury may from time to time prescribe: Pro- 
vided, That the provisions of section fifty-one hundred 
and ninety-one of the Revised Statutes, as amended by 
the Federal Reserve Act, and the amendments thereof, 
with reference to the reserves required to be kept by 
national banking associations and other member banks 
of the Federal Reserve System, shall not apply to deposits 
of public moneys by the United States in designated 
depositaries, The Secretary of the Treasury is hereby 
authorized to designate depositaries in foreign countries, 
with which shall be deposited all public money which it 
may be necessary or desirable to have on deposit in such 
countries to provide for current disbursements to the 
military and naval forces of the United States and to the 
diplomatic and consular and other representatives of the 
United States in and about such countries until six 
months after the termination of the war between the 
United States and the Imperial German Government, 
and to prescribe the terms and conditions of such deposits. 
? This section in effect amends sec. 15, Federal Reserve Act, which relates to Gov- 
arnment deposits: also see. 19, whieh prescribes reserve requirements of member banks