A New Currency Bill

Tho following is the currcnoy bill report on the 29th from tho House Conimittee on Currency and Banking : Be it enacted, etc, That section 31 of the act entitled "An act to provide a national currency, secured by a pledgo of United States bonds, and to próvido for the circulation and redemption thorcof," approved tho thirdday of June, 1861, be so amended that the several associations therein provided for shall not heroafter be required to koop on hand any amount of moncy whatover, by roason of tho amount of their respectivo circulation ; but tho moneys required by said section to be kept at all times in hand shall be determined by tha amount of deposits in all respocts as providod in said section. Sec. 2. That section 21 of said act, and the several amendraents thereto, so far as they restrict tho amount of notes for circulation under said act, be, and. the same are hereby repealed, and that section 1 of tho act entitled "An act to provide for the redemption of tho 3 per cent, temporary loan certificates, and for an increase of national bank notos," approved on the 12th of January, be amended by repealing the second proviso in said seotion contaiued. Seo. 3. That every assooiation organized, under the provisions of said act, and of the several acts in amendment thereof, shall at all timos keep and have deposited in the treasury of the United States, in lawful moncy of the United Statos, a sum equal to ó per centuin of its circulation, to bo held and used only for the redemption of such circulation, and when tho circulating notes of any such association or associations shall be presented, assorted or unassorted, for redemption, in suins of $100,000, or any múltiplo thereof, to the Secretary of the Treabury or tp the Assistant Treasurer in the city of New York, the samo shall be redoemed in United States notfis, and all notes so redeemed shall be charged by tho Secretary of the Treasury to the respectivo associations issuing the same, and he shall notify them severally on tho first day of each month or oftener, at his discretion, of the amount of such redemptions ; whereupon each association so notified shall forthwith deposit with the Treasurer of the United States a sum in United States notes equal to the amount of its circulating notes so redeemed, and when such redemptions havo been so reirubursed the circulating notes so redeemed, or if worn, mutilated or dofaeed, new notes instead shall be forwarded to the respective asaociations ; provided that each of the said associations shall reimburse to tho treasury tho costs of redemption, and of supplying new notes in the place of those redeemed, and associations hereafter organizod shall also severally reimburse to tho treasury the cost of engraving and printing their ciroulating notes; and provided further, that the entire amount of United States notes outstanding and in circulation at any one time, shall not excede the sum of $400,000,000, now authorized by existing laws. Sec. 4. That any assooiation organized under this act, or any of the acts of which this is an amondment, desiring to withdraw its circulating notes, in whole or in part, may, upon the deposit of lawful monoy, within the meaning of said act, in sums not less than $10,000, with the Treasurer of tho Unitod States, withdraw a proportionate amount of the bonds deposited in pledge for such circulation, and he shall redeem, cancel and an amount of circulating notes of such association equal to the amount issued on such bonds. Sec. 5. That section 31 and 32 of said act be amended by requiring that every such association shall keep its lawful money reserve within its vaults, at the place where its operations of discount and deposita are carried on ; and all provisions of said section requiring or perruitting any of said associations to keep any portion of its lawful money reserves elsewhere than in its own vaults, or quiring or permitting the redemption of its circulating notes elsewhere than at its own oouater, are hereby repealed. Seo. 6. That upon all circulating notes hereaftor issued, or hereafter to be issued, whenever the same shall come into the treasury in or on doposit for redemption or otherwise, there shall be printed, uuder such rules and regulations as tho treasurer may prescribe, the charter numbers of associations by which they are soverally issued. Sec. 7. That associations without circulation may be organized under the provisions of said act upon deposita with tho treasurer of the United States of not less than $10,000 in United States registered bonds, as proyided in seetion IQ of said act; aud associations aiready organized to withdraw their bonds in exoess of $10.000. Sec. 8. That the Secretary of the Troasury is hereby authorized and directed to issue, at tho beginning of oach and every month, f rom aud includint July, 1874, 12,000,000 of United State's notes, not beanng interest, payablo in gold two years after dato, of such donominations as he shall deern oxpedient, not less than $10 each, in exchango for and as a substituto for the same amount of United States notes now in ciroulation which shall bo cancolled, and any excess of gold in, or hereafter coming into, tho treasury of tho United States, after the paymcnt of interest upon the public debt, and supplying any deficiency in the revenues provided to meet the current expenses of the öovernment, shall hereaftor be rotainod as a reservo for the ' redemption of such notes. t.. '