Chapter 74. To amend the laws relating to the denominations of circulating notes by national banks and to permit the issuance of notes of small denominations, and for other purposes
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CHAP. 74.— An Act To amend the laws relating to the denominations of circulating notes by national banks and to permit the issuance of notes of small denominations, and for other purposes.October 5, 1917.[[S. 2922](/us/bill/65/s/2922).][[Public, No. 61](/us/pl/65/61).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, National bank notes. Prohibition on issuing, of loss denomination than $5, repealed. [R. S., sec. 5175, p. 1000, repealed](/us/rs/sec5175/p1000).That the Act of June third, eighteen hundred and sixty-four, Revised Statutes, section fifty-one hundred and seventy-five, which prohibits national banks from being furnished with notes of less denomination than $5, be, and it is hereby, repealed.
Sec. 2.Restriction on amount of $5 notes repealed. Vol. 31, p. 49, repealed. That that part of the Act of March fourteenth, nineteen hundred, which provides; “that no national banking association shall, after the passage of this Act, be entitled to receive from the Comptroller of the Currency, or to issue or reissue, or place in circulation more than one-third in amount of its circulating notes of the denomination of $5,” be, and it is hereby, repealed. Sec. 3.Denominations authorized.
That from and after the passage of this Act any national banking association, upon compliance with the provisions of law applicable thereto, shall be entitled to receive from the Comptroller of the Currency, or to issue or reissue, or place in circulation notes in denominations of $1, $2, $5, $10, $20, $, and $100 in such proportion as to each of said denominations as the bank may elect: 343 *Provided, however*, That no bank shall receive or have in circulation *Proviso*. Limit for ones and twos.at any one time more than $25,000 in notes of the denominations of $1 and $2.
Sec. 4. That all Acts or parts of Acts which are inconsistent with Inconsistent laws repealed.this Act are hereby repealed. Approved, October 5, 1917.