§ 418. Printing of notes; denomination and form

Statutory text

In order to furnish suitable notes for circulation as Federal reserve notes, the Secretary of the Treasury shall cause plates and dies to be engraved in the best manner to guard against counterfeits and fraudulent alterations, and shall have printed therefrom and numbered such quantities of such notes of the denominations of $1, $2, $5, $10, $20, $50, $100, $500, $1,000, $5,000, $10,000 as may be required to supply the Federal Reserve banks. Such notes shall be in form and tenor as directed by the Secretary of the Treasury under the provisions of this chapter and shall bear the distinctive numbers of the several Federal reserve banks through which they are issued.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1913
Pub. L. 63–6 § 16 · 38 Stat. 103
Enacted · 12 U.S.C. § 418
Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267
1963
Pub. L. 88–36 title I § 3 · 77 Stat. 54
Inserted · 12 U.S.C. § 418
Pub. L. 88–36, which directed amendment of “[t]he first sentence of the ninth paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 418)” by inserting “$1, $2,” after “notes of the denominations of”, was executed by making the insertion in this section, to reflect the probable intent of Congress
Source evidence
Code amendment note
Pub. L. 88–36, which directed amendment of “[t]he first sentence of the ninth paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 418)” by inserting “$1, $2,” after “notes of the denominations of”, was executed by making the insertion in this section, to reflect the probable intent of Congress.
Enacted provision · exact public law section
Sec. 3. The first sentence of the ninth paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 418) is amended by inserting 40 Stat. 970. “$1, $2,” immediately after “notes of the denominations of”.
1994
Riegle Community Development and Regulatory Improvement Act of 1994
Pub. L. 103–325 title VI § 602(g)(3) · 108 Stat. 2160
Substituted · 12 U.S.C. § 418
Pub. L. 103–325, which directed amendment of “[t]he 1st sentence of the 8th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 418)” by substituting “the Secretary of the Treasury shall” for “the Comptroller of the Currency shall under the direction of the Secretary of the Treasury,” was executed by making the substitution in this section for “the Comptroller of the Currency shall, under the direction of the Secretary of the Treasury,” to reflect the probable intent of Congress
Source evidence
Code amendment note
Pub. L. 103–325, which directed amendment of “[t]he 1st sentence of the 8th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 418)” by substituting “the Secretary of the Treasury shall” for “the Comptroller of the Currency shall under the direction of the Secretary of the Treasury,” was executed by making the substitution in this section for “the Comptroller of the Currency shall, under the direction of the Secretary of the Treasury,” to reflect the probable intent of Congress.
Enacted provision · exact public law section
(3) The 1st sentence of the 8th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 418) is amended by striking “the Comptroller of the Currency shall under the direction of the Secretary of the Treasury,” and inserting “the Secretary of the Treasury shall”.

2 of 3 references resolved to an enrolled provision · 1 partial

Editorial Notes

References in Text

This chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.

Codification

Section is comprised of the seventh par. (formerly the eighth par.) of section 16 of act Dec. 23, 1913. For classification to this title of other pars. of section 16, see Codification note set out under section 411 of this title.

Amendments1918–1994 · 3 rounds

1994

Pub. L. 103–325, which directed amendment of “[t]he 1st sentence of the 8th undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 418)” by substituting “the Secretary of the Treasury shall” for “the Comptroller of the Currency shall under the direction of the Secretary of the Treasury,” was executed by making the substitution in this section for “the Comptroller of the Currency shall, under the direction of the Secretary of the Treasury,” to reflect the probable intent of Congress.

1963

Pub. L. 88–36, which directed amendment of “[t]he first sentence of the ninth paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 418)” by inserting “$1, $2,” after “notes of the denominations of”, was executed by making the insertion in this section, to reflect the probable intent of Congress.

1918

Act Sept. 26, 1918, which directed general amendment of “the ninth paragraph of section sixteen of the Federal reserve Act, as amended by the Acts approved September seventh, nineteen hundred and sixteen, and June twenty-first, nineteen hundred and seventeen,” was executed to the eighth par. of section 16 of act Dec. 23, 1913 (now classified to this section), to reflect the probable intent of Congress. Prior to amendment, text read as follows: “In order to furnish suitable notes for circulation as Federal reserve notes, the Comptroller of the Currency shall, under the direction of the Secretary of the Treasury, cause plates and dies to be engraved in the best manner to guard against counterfeits and fraudulent alterations, and shall have printed therefrom and numbered such quantities of such notes of the denominations of $5, $10, $20, $50, $100, as may be required to supply the Federal reserve banks. Such notes shall be in form and tenor as directed by the Secretary of the Treasury under the provisions of this Act and shall bear the distinctive numbers of the several Federal reserve banks through which they are issued.”

Credits

1913–1994 · 4 acts

1913Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267
1918Sept. 26, 1918, ch. 177, § 3, 40 Stat. 969
1963Pub. L. 88–36, title I, § 3, June 4, 1963, 77 Stat. 54
1994Pub. L. 103–325, title VI, § 602(g)(3), Sept. 23, 1994, 108 Stat. 2293.

Show as published

(Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 267; Sept. 26, 1918, ch. 177, § 3, 40 Stat. 969; Pub. L. 88–36, title I, § 3, June 4, 1963, 77 Stat. 54; Pub. L. 103–325, title VI, § 602(g)(3), Sept. 23, 1994, 108 Stat. 2293.)