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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 Fedsral
 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 assessments
 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 outstanding
 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 hundred,
 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 certificates
 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 statutes
 as require that before any national banking asso-SEC.

 17 FEDERAL RESERVE ACT

13