Full text: National banking under the Federal Reserve System

FeperaL RESERVE Act 
of deposit, draws any order or bill of exchange, makes any acceptance, assigns any 
note, bond, debenture, draft, bill of exchange, mortgage, judgment, or decree; or who 
makes any false entry in any book, report, or statement of such corporation with intent, 
in either case, to injure or defraud such corporation or any other company, body politic 
or corporate, or any individual person, or to deceive any officer of such corporation, 
the Federal Reserve Board, or any agent or examiner appointed to examine the affairs 
of any such corporation; and every receiver of any such corporation and every clerk 
or employee of such receiver who shall embezzle, abstract, or willfully misapply or 
wrongfully convert to his own use any moneys, funds, credits, or assets of any char- 
acter which may come into his possession or under his control in the execution of his 
trust or the performance of the duties of his employment; and every such receiver or 
clerk or employee of such receiver who shall, with intent to injure or defraud any per- 
son, body politic or corporate, or to deceive or mislead the Federal Reserve Board, or 
any agent or examiner appointed to examine the affairs of such receiver, shall make any 
false entry in any book, report, or record of any matter connected with the duties of 
such receiver; and every person who with like intent aids or abets any officer, director, 
clerk, employee, or agent of any corporation organized under this section, or receiver 
or clerk or employee of such receiver as aforesaid in any violation of this section, shall 
upon conviction thereof be imprisoned for not less than two years nor more than ten 
years, and may also be fined not more than $5,000, in the discretion of the court. 
Whoever being connected in any capacity with any corporation organized under 
this section represents in any way that the United States is liable for the payment of 
any bond or other obligation, or the interest thereon, issued or incurred by any cor- 
poration organized hereunder, or that the United States incurs any liability in respect 
of any act or omission of the corporation, shall be punished by a fine of not more than 
$10,000 and by imprisonment for not more than five years. 
Sec. 26. All provisions of law inconsistent with or superseded by any of the pro- 
visions of this Act are to that extent and to that extent only hereby repealed: Provided, 
Nothing in this Act contained shall be construed to repeal the parity provision or pro- 
visions contained in an Act approved March fourteenth, nineteen hundred, entitled 
“An Act to define and fix the standard of value, to maintain the parity of all forms of 
money issued or coined by the United States, to refund the public debt, and for other 
purposes,” and the Secretary of the Treasury may, for the purpose of maintaining such 
parity and to strengthen the gold reserve, borrow gold on the security of United States 
bonds authorized by section two of the Act last referred to or for one-year gold notes 
bearing interest at a rate of not to exceed three per centum per annum, or sell the same 
if necessary to obtain gold. When the funds of the Treasury on hand justify, he may 
purchase and retire such outstanding bonds and notes. 
As amended by act approved Aug. 4, 191} (38 Stat., 682, chap. 225). 
Sec. 27. The provisions of the Act of May thirtieth, nineteen hundred and eight, 
authorizing national currency associations, the issue of additional national-bank cir- 
culation, and creating a National Monetary Commission, which expires by limitation 
ander the terms of such Act on the thirtieth day of June, nineteen hundred and four- 
teen. are hereby extended to June thirtieth, nineteen hundred and fifteen, and sections 
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