The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1884-07-30
SESSION LAWS OF 1894
AN ACT
To REGULATE THE CURRENCy.

To REGULATE THE CURRENCY.
Be il Enacted by the King and the Legis-
lative Assembly of the Hawaiian Islands
in the Legislature Of the Kingdom as
scmbled
SECTION /. From and after the first day
Of December, in the year of our Lord eigh-
teen hundred and eighty-four. the gold
coins OF the United States of America
shall bo the standard, and legal tender, at
their nominal value in the payment of all
debts, public and private, within the Ha-
waiian Kingdom.
SECTION 2 The standard silver coins
Of the United States of America, and the
silver coins Of the Hawaiian Kingdom
shall be, from and after December LIST, 1884
legal tender, at their nominal value, for
any amount not exceeding ten dollars in
any one payment.
SECTION 3 From and after the first day
Of December, 1884, gold and silver coins,
other than the coins Of the Uuited States
and Of the Hawaiian Kingdom, shall be
received in the Treasury at a rate not ex-
ceeding their bullion value, for Govern
ment dues, duties and taxes.
SECTION T. Whenever it shall appear,
that there is such an excess Of silver coins
IN circulation as disturbs the equilibrium
between gold and silver coins under the
provisions Of this Act, the Minister of
Finance, in order TO restore such equili-
brium, shall replace sufficient silver coin
from any silver coin which may be in the
Treasury, either as Government realiza-
ton or on deposit on account Of any silver
certificates, with gold coins of the United
States in the same manner as hereafter
provided in Sections 5, and Of this Act.
Section 5. Upon the approval of this
Act, the Minister OF Finance without de
lay shall give notice by public advertise
lnent that for sixty days Immediately fol
lowing such notice, silver coins Of all de
nominations, excepting silver coins Of the
Hawaiian Islands and OF the United States.
WI be received at the Treasury at their
nominal value in exchange for Hawaiian
CONS at their nominal value and the
Minister Of Finance, without delay, shall
arrange through advertisement for tenders
for the sale Of all silver coins which are or
may be in the Treasury, excepting Hawai-
ian silver. coins in lots of not more than
$4,000 each, and the delivery of the pro
ceeds Of the sales Of said silver coins into
the Treasury IN gold coins of the United
States
SECTToS 6. The Minister of Finance
shall require Of those persons. whose ten
ders, being accepted, shall desire to re
move the silver coin bid for by them from
the Treasury, prior 20 the delivery of tho
gold therefor. deposit in the Treasury
Of the Hawaiian Government Bonds OF
like amount as the nominal value of the
silver delivered to them, and the said
Bonds shall be held as security for the de
livery Of the proceeds of the sale of the
silver coins 10 the Treasury in gold coins
Of the United States within thirty DAYS /;
and upon such delivery the Bonds SO de
posted shall be returned.
Section 4. The expense, cost and loss,
incident TO the conversion of silver coins
into the gold coins of the United States,
shall be borne by the Treasury, and the
Minister Of Finance is hereby authorized
and required TO provide for the same. from
any moneys not otherwise appropriated,
az which may hereafter be appropriated.
and be shall render an accurate statement
4 such expenditure in his report to the
Legislative Assembly.
SEcTToS s. On and after the first day
n December. 1884 all outstanding silver
certificates excepting the ten dollar silver
certificate, on presentation at the Treasury.
and on demand shall be redeemed at their
noninal valae in United States gold coin.
nd all silver certificates SO redeemed shall
ls cancelled by the Registrar of Public
Accounts.
EEcrTox 8. The Minister of Finance
nay. at his discretion, receive United
States gold coin on deposit 10 any amount
nm lass than fifty dollars, and shall issue
fferrfnr certificates of depOsit of guch de-
destinations as he shall deem to be for the
public interest, payable TO bearer on de-
n1nd without interest. The said certif-
les shall be signed by the Minister of
finance and countersigned by the Regis
TN Of Public Accounts, and the money
rn1eifed for such certificates shall be held
y q special deposit to be used only for the
g oscillation Of the same, and Section 479
3 TIE Civil Code, as amended by Chapter
E q 81 thc Laws Of 1874, is hereby repealed.
cT1oz I0. Ehnpter 81 Of Session
y - " 1850, klng Al Act to provide for