The Red Cloud chief., 1879-01-23
II
s'uit l-,s ofsh~ Act az soagres.
lud~r " hitch specie osa sss e nss
re Nc.sa ANA 81.


Be IL enacted nv the senate aud house
~ representatives Of the United States
of America In congress assembled,
That the secretary III the treasury Is
hereby authorized and required rs rap
idly M practical Ia cEnsc To- be- coined
n, the minis 10 the United States silver
coins of tn. denominations 81 ten,
twenty. five and htty cents, ~ standard
value and To- issue them In redemption
Of an equal number and amount ~
fractional currency If similar donoml.
nations; or at his discretion he may
issue silver coiLs through the mints, the
sub.trcasuries, public repositories aud
post offices III the United States, and
upon such issue. he IL hereby author.
ixcd and required TO redeem an equal
amount Of such fractional currency,
until the whole amour, II such frac-
tional currency outstanding shall be- re-
deemed
3.22t of the revised statues of the
United States rs provided for n charge
of one. fifth II n per ccntum for con-
vcrtiug standard gold bullion into coin
is hereby repealed and hereafter no
charge shall be- made for that service,
See. 3. That section 5.I71 ~ the re-
yised statues of the United States. lin
iting the aggregate amount of circulat-
ing notes IL national banking associa.
tions, be and IL hereby repealed, and
each existing banking association. may
increase It's circulating notes In accord.
ancc with existing laws without respec,
to said aggregate limit; and the pro.
visions I'll law for the withdrawal aud
distribution of national bank currency
among the states and territories are
hereby repealed.
Aud whenever. aud So often. as cir
culating notes shall be issued tai any
such banking association 50 increasing
It's capital or circulating notes. or 81
newly organized ~ aforesaid, IL shalt
be the duty of the secretary Of the
treasury to redeem the legal tender
United States notes In excess OF $500.
OOO. 900 TO the amoun Of eighty per
centum Of the sum 81 national bank
notes so issued Ia any such banking AS
sociation ~ aforesaid. aud Ia continue
such redemption ~ such circulating
notes are issued until there shall be-
outstanding the sum Of s3oO,pon.OoC of
such legal tender United States noes.
and no more
And on and after the first day Of Jan.
uary. A. D. 1879 the secretary Of the
treasury shall redeem. In coin. the
United States legal tender notes then
outstanding ON their presentation for
the redemption at the Office II III. "a
sistaut treasurer II the United State.
i'm the city II New York. in sums no
less than fifty dollars.
And To enable the secretary 81 the
treasury Ia prepare and provide for
the redemption in this act authorized
or requi' cd. he Is authorized Ia use any
surplus reS from time Ia time Ia
the treasury not otherwise appropri-
a,ed. and Ia issue. sell and dispose ri
Mt no less than par, IN coin either II III,
description 81 bonds of the United
States Described in the act 81 congress.
approved july the fourteenth, eighteen
hundred aud seven,y entitled An Act
90 authorize the r%efunding ~ tho Ma
tional debt, with like qualities. priv
ileges. and exemptions TO the extent
necessary to carry this act into ful
effect aud Ia use the proceeds thereof
for the purpose aforesaid. And nj
provisions oi law inconsistent with tbs
provisions Of this act are hereby re
pealed.
Approved January IL. 1879.