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FEDERAL RESERVE ACT Sgcs. 26, 2

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 All provisions of law inconsistent with or superseded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 provisions 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extent and to that extent only hereby repealed: Provided,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 provisions 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 2
rate of not to exceed three per centum per annum, or sell
the same if necessary to obtain gold. When the funds of
the Treausry on hand justify, he may purchase and retire
such outstanding bonds and notes.
Gi gmended bY Sec. 27. The provisions of the Act of May thirtieth.
See oa neo nineteen hundred and eight, authorizing national currency
228). associations, the issue of additional national-bank circulation,
 and creating a National Monetary Commission,
which expires by limitation under the terms of such Act
on the thirtieth day of June, nineteen hundred and fourteen,
 are hereby extended to June thirtieth, nineteen
hundred and fifteen, and sections fifty-one hundred and
fifty-three, fifty-one hundred and seventy-two,’ fiftyone
 hundred and ninety-one, and fifty-two hundred and
fourteen of the Revised Statutes of the United States.
which were amended by the Act of May thirtieth, nineteen
hundred and eight, are hereby reenacted to read as such
sections read prior to May thirtieth, nineteen hundred and
eight, subject to such amendments or modifications as are
prescribed in this Act: Provided, however, That section
aine of the Act first referred to in this section is hereby
amended so as to change the tax rates fixed in said Act
by making the portion applicable thereto read as follows:
National banking associations having circulating notes
secured otherwise than by bonds of the United States
shall pay for the first three months a tax at the rate ol
three per centum per annum upon the average amount

te Amended as to sec. 5172, Revised Statutes, by act approved Mar. 3, 1919. See AD
pendix, p. 82.