The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1875-02-04
pprSvcd January l, 1875.


An Act to provide for the resumption OF
specie payments.
De- il enacted by he Senate and Houss Of Repre-.
SsHtdtiUss Of ne United states Of ADieyicd in
Congress dsssHI6lsd, That the Secretary of the
Treasury IS hereby authorized and required,
as rapidly AS practicable, to cause to be
coined at the mints OF the United States
silver coins of the denominations of ten,
twenty-five, and my cents, OF standard
value, aud to issue them in redemption Of
an equal number and amount Of fractional
currency OF similar denominations, or, at
his discretion, he may issue such silver coins
through the minLs. the subtreusuries, public
deposiulTics, mud post offices of the United
authorized and roquired 10 redeem an equal
amount OF such fractional currency, until
the whole amount of such fractional cur
rency outstanding shall Ue redeemed.
Sec. =. That so much Of section three thou
sand i've hundrcd aud tweuty-four of the
Revised statutes OF the United States as
ceGtum for converting standard gold bullion
into coin is hereby repealed, and hereafter
no charge shall be made for that service.
Sec. ). That section hve thousand one
hundred and S~eventy-SeNen of the Revised
statutes Of the United States, limiting the
aggregate amount of circulating notes of
national banking associations, Oe, and is
hereby, repealed; and each existing banking
association may Increase it's circulating
notes in accordance with existing law with
out respect to said aggregate limit; and new
banking associations may be organized in
accordance with existing law without
respect TO said aggregate limit; and the pro-
visions OF law for the Withdrawal and redis-
trlbutiOn OF national bank currency among
the several States and Territories are hereby
repealed. And whenever, and so often. as
circulating notes shall Il issued to any Sucn
bnnking association, so Increasing its CAPT
tai or circulating notes, or SO newly organ
lied HS aforesaid, 1t shalt be the duty OF the
Secretary of the Treasury to redeem the
legal tender United States notes in eAcess
only OF three hundred million dollars, to the
amount of eighty per centum OF the sum of
national bank notes SO issued to any such
banking association as aforesaid, and to con-
tiuue such redemption as such circulating
notes are issued until there shall be out
standing the sum of three hundred million
dollars OF such legal tender United States
notes, and no more. And on and after the
hundred and seventy-nine, the Secretary of
the Treasury shall redeem, in coin, tho
United STATES legal tender notes then out
standing on their preSen tHtiUn for redemp-
ton, at the office of the assistant treasurer
Of the United States in the city of New York,
in sums OF not less than fifty dollars. And
TO enable the Secretary OF the Treasury to
this act authorized or required, he is author
lied to use any surplus revenues, from time
to time, in the Treasury not otherwise APP
propriated, and to issue, sell. and dispose Of,
ut not less than par, in coin, either of the
descriptions OF bonds of the United States
! described in the act OF Congress. approved
July fourteenth, eighteen hundred and
r~efunding of the national debt" with like
qualities, privileges, and exemptions, to the
extent necessary to carry this act into full
effect, and TO use the proceeds thereof for the
purposes aforesaid. And all provisions OF
law inconsistent with the provisions of this
act are hereby repealed.
Approved January Il, 1875.