The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1875-01-11
The New Finance Bill.
Tie following is the full text OF the
finance bill passed by the United States

The following is the full text OF the
finance bill passed by the United States
Congress: -..1s l.....
Bsitadc,ed &C.: That the Secretary OF tho
Treasury 10 hereby authorized and required AZ
rapidly AZ practicable TO cause TO bO coined at
tue mnts Of tho United States, silver coins Of
denominations OF ten, twenty-five, and hfty
cents Of standard value, aud TO issue them In
redemption OF An equal number aud amount Of
fractional currency OF similar denominations,
or, at his discretion, he may issue such silver
coins through the mints, sub-trcasuriOs, public
depOsitAries, and post-ofiiceB Of the United
States, and upon such issue he Is hereby
authorized and required TO redeem an equal
amount of such fractional currency until the
whole amount Of such fractional currency out
standing Dhall DO redeemed.
SIc O. That 10 much Of section S,62i Of the
revised statutes OF tho United States ~ pro-
ydcs for charge Of one-lith per coptum for
converting standard gold bullion into coin y
hGroby repealed, ,inld hereafter no charge shall
be made for that service. y ...lta +,
SIC. 8. That section 5,777 Of tho revised
statutes OF the United States limiting the hggro.
gate amount Of the circulating notes Of national
banking associations DO and IL hereby repealed,
and each existing banking association may IN
croAsc It's circulating notes In accordance with
the existing law without respect TO said AggrO-
gate limit, and nov. banking associations may
10 organized In accordance with the existing
law without respect 10 said aggregate limit, and
tie provisions Of tho law for the withdrawal
and redistribution Of national bank currency
among the several States and Territories arc
hereby repealed, and whenever and 10 often ~
circulating notes. shall be Issued to any such
bank association 80 increasing It's capital OF
circulating notcs, or 30 newly organized ~
Aforesaid, 1t shall be the duty Of tho Secretary
Of tho Treasury " redeem the legal tender
United States notes In exce4s only OF three
hundred million dsllab, TO the amount oi
eighty per ccntum Of tho sim Of national bAnl
notes 30 issued 10 any such banking association
aA Aforesaid, and 10 continue such redemption
As such circulating notes are Issued until tlert
shall DO outstanding the SUN OF three hnndFpt
million dollars Of such legal tender Unltet
States notes, and no mare. And on and Attei
the first day Of January, \. D., 1870, the Secro'
tAry Of the Treasury ShAll redeem IN coin The
United States legal tender notes then ourtahd'
ing on their presentation for redemption at the
office of tho Assistant Treasurer In tie city ol
New York, In sums not less than fifty dollars.
And to enable tho Secretary Of tho Treasury
to prepare and provide for the redemption III
this act authorized aud required, lie " author
time, In the Treasury, mol otherwise apprUpriA.
tod, aud 70 isStlc,- sell, and dispose Of, at moi
less than par In coin, either OF Tho descriptions
Of bonds of thS United States described IN the
act Of Congress approved July II, 1870, on
titled q An act 10 authorize tho reiunling Of the
national debt" with like qualities, principles
and exemptions to tho extent necessary to carry
this act into effect, aud to use tho proceed
thereof fOE tho purposes aforesaid.
And. All provisions Of law lnconslstcnt with
the provisions Of this act arc hereby repealed.