136 THE FREEDMEN’S SAVINGS BANK 
spectively give such security for their fidelity and good 
conduct as the board of trustees may from time to time 
require, and the board shall fix the salaries of such officers 
and agents. 
Sec. 16 . . . the books of the corporation shall, at all 
times during the hours of business, be open for inspection 
and examination to such persons as Congress shall desig- 
nate or appoint. 
THE AMENDMENT OF 1870 
Be it enacted . . . That the fifth section of the act 
entitled “An act to incorporate the Freedmen’s Savings 
and Trust Company,” approved March third, eighteen 
hundred and sixty-five, be, and the same is hereby, 
amended by adding thereto, at the end thereof, the words 
following: “and to the extent of one half in bonds or 
notes, secured by mortgage on real estate in double the 
value of the loan; and the corporation is also authorized 
hereby to hold and improve the real estate now owned 
by it in the city of Washington, to wit, the west half of 
lot number three; all of lots four, five, six, seven, and the 
south half of lot number eight, in square number two 
hundred and twenty-one, as laid out and recorded in the 
original plats or plan of said city; Provided, That said 
corporation shall not use the principal of any deposits 
made with it for the purpose of such improvement.” 
Sec. 2 . . . Congress shall have the right to alter or 
repeal this amendment at any time. 
Act oF JUNE 20, 1874 
Be it enacted . . . That the act of Congress approved 
March third, eighteen hundred and sixty-five, entitled 
“An act to incorporate the Freedmen’s Savings and Trust 
Company,” be, and the same is hereby, so amended that 
hereafter it shall be the duty of the trustees and officers 
of said company to make loans, to the extent of one half 
the deposits by them received, upon bonds or notes se- 
cured by first mortgages or deeds of trust upon unen- 
cumbered real estate, situate in the vicinity of the agency 
or branch of said company from which such deposits are