Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1877-12-01

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TREASURES. pubic de.sssiisries. asd p-sss
cffsces o. the United STATES. and. upoa
such issue, he Is hereby author ixed and re
quired 10 redeem an equal .motni Of such
currency. until the whole amount Of such
fractional currency outstanding shall be
redeemed.
SIC. g. That so much of section ;, 524
of the Revised Statutes of the United
States as provides for charge Of one-ffth
per centum for converting standard gold
bullion into coin is hereby repealed, and
hereafter no charge shall be made for that
service.
Sec. 3. That section SLIT of the Re
vised Statutes of the United States, limit
ing the aggregate amount of circulating
notes of National Banking Associations,
be, and the same is hereby repealed; and
each existing Banking Association may
increase its circulating notes in accordance
with existing law without respect to said
aggregate limit; aud the provisions of law
for the withdrawal and redistribution OF
National Bank currency among the several
States and Territories are hereby repealed.
And, whenever, and so often, as circulat'
ing notes shall be issued to any such
capital or circulating notes, or so newly
organize us aforesaid, it shall be the duty
of the Secretary of the Treasury to redeem
the legal tender United States notes in ex.
cess OF $500, 0OO, 600, to the amount OF
eighty per centum of the sum of the Ma.
tiOnal Bank notes so issued to any such
Banking Association as aforesaid, and to
continue such redemption as such circu.
lating notes are issued. until there shall be
the sum of $500, 600, 600 of such legal ten.
der United States notes, and no more
And on and after the first day of January.
A. D., 1879, the Secretary of the Treasury
shall redeem, in coin, the United States
legal tender notes then outstanding on
their presentation for redemption, at the
office of the Assistant Treasurer of the
United States in the city of New York, in
sums of less than $50. And to enable the
Secretary of the Treasury to prepare and
provide for the redemption in this act
authorized or required, he is authorized to
use any surplus revenues, from time to
time, in the Treasury not otherwise appro.
priated, and to issue, sell and dispose of,
at not less than par in coin, either of the
descriptions OF bonds of the United States
described in the act Of Congress approved
July IA, 1870. entitled, AN act to author
ize the refunding of the National debt. "
with like qualities, privileges and exemp-
tons, to 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 IA, 1875.