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made shall be held subject to the orders of the Federal 
Reserve Board and shall be payable in gold coin or gold 
sertificates on the order of the Federal Reserve Board to 
any Federal reserve bank or Federal reserve agent at the 
Treasury or at the Subtreasury of the United States 
nearest the place of business of such Federal reserve 
bank or such Federal reserve agent: Provided, however, 
That any expense incurred in shipping gold to or from 
the Treasury or subtreasuries in order to make such 
payments, or as a result of making such payments, shall 
be paid by the Federal Reserve Board and assessed against 
the Federal reserve banks. The order used by the Fed- 
sral Reserve Board in making such payments shall be 
signed by the governor or vice governor, or such other 
officers or members as the board may by regulation 
prescribe. The form of such order shall be approved by 
the Secretary of the Treasury. 
The expenses necessarily incurred in carrying out 
these provisions, including the cost of the certificates or 
receipts issued for deposits received, and all expenses 
incident to the handling of such deposits shall be paid 
by the Federal Reserve Board and included in its assess- 
ments against the several Federal reserve banks. 
Gold deposits standing to the credit of any Federal 
reserve bank with the Federal Reserve Board shall, at 
the option of said bank, be counted as part of the lawful 
reserve which it is required to maintain against out- 
standing Federal reserve notes, or as a part of the reserve 
it is required to maintain against deposits. 
Nothing in this section shall be construed as amending 
section six of the act of March fourteenth, nineteen hun- 
dred, as amended by the acts of March fourth, nineteen 
hundred and seven, March second, nineteen hundred and 
sleven, and June twelfth, nineteen hundred and sixteen, 
nor shall the provisions of this section be construed to 
apply to the deposits made or to the receipts or certifi- 
cates issued under those acts. 
Sec. 17. So much of the provisions of section fifty-one Asamended by 
hundred and fifty-nine of the Revised Statutes of the ume 21, i? Go 
United States, and section four of the act of June twen- aay, To che 
tieth, eighteen hundred and seventy-four, and section 
sight of the act of July twelfth, eighteen hundred and 
eighty-two, and of any other provisions of existing stat- 
utes as require that before any national banking asso- 
SEC. 17 FEDERAL RESERVE ACT 
13