Chapter 228.
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CHAP. 228.— Joint Resolution Authorizing the Secretary of the Treasury to designate depositaries of public moneys in foreign countries and in the Territories and insular possessions of the United States. June 19, 1922.[[S. J. Res. 7](/us/bill/67/sjres/7).][[Pub. Res., No. 61](/us/bill/67/pubres/61). ] Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, Depositaries of public moneys.Designation of, in foreign countries, etc., authorized.
That the Secretary of the Treasury may designate such depositaries of public moneys in foreign countries and in the Territories and insular possessions of the United States as may be necessary for the transaction of the Government’s business, under such terms and conditions as to security and otherwise*Proviso*.Preference to American institutions. as he may from time to time prescribe; *Provided*, That in designating such depositaries American financial institutions shall be given preference wherever, in the judgment of the Secretary of the Treasury, such institution is safe and able to render the service required.
Approved, June 19, 1922.