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Excerpt from American Finances and Resources: Letter No; I of Hon. Robert J. Walker, M.A
Sec. 29. And be 'z't 'fwtlzer enacted, That on becoming satisfied, as specified 1h this act, that any such association has 'refused to pay its circulating notes as therein mentioned, and 'is m default, the Comptroller of the Cuirency may forthwith appoint a receiver, and require of him such bond and security as he shall deem proper, who, under the direction of the 'oonmtroller, shall take possession of the books, records, and '¿assets of every description of such association, collect all debts.
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