The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1884-06-27
S. B. nnLElS G0Ln LAW.

ICU uuu SlSulO-lOul, lllS SOlON COluS |
of the United States of America
shall be the standard and legal ten
der Mt their nominal value, in pay
ment of all debts.
SECTION 2. The standard silver
coins of the United States of America,
and those silver coins of like res
pective fineness and weight there
with, which were lately coined in the
United States of Ameri = and i'm
ported into this Kingdom, bearing
the impress of the Hawaiian coat of
Arms and the profile of His Majesty
Kalakaua, shall from and after the
said first day of October be a legal
tender at their nominal value in
payment of all debts not exceeding
five dollars.
SECTION 3. For the more effectual
carrying out of this Act, the Minister
of Finance shall at all times during
the thirty days following the APP
proval of this Act receive all current
silver coin that shall be offered at
the treasury to any amount not less
than ten dollars and issue therefor
certificates of deposit of the denomi-
nations of ten, twenty, fifty, one
hundred, five hundred, one thousand,
five thousand and ten thousand
dollars according to the amount of
silver coin received, payable to
bearer on demand on and after the
said first day of October, in United
States gold coin without interest,
and shall give due public notice
thereof. The said certificates shall
be signed by the Minister of Finance
and countersigned by the registrar
of public accounts. All silver coins
received in exchange for such GER
tificates, excepting Hawaiian silver
coins shall be used without delay
for the purchase of United
States gold coin, which shall be held
as special deposit to be used only
for the cancellation of the said cer-
tifiicates. And the Minister of FL
nance is hereby authorized and
instructed to take from the treasury
sufficient money not otherwise APP
propriated, or from any appropria-
ton that may be provided for that
purpose, to make up in the United
States gold coin the numerical loss
in dollars suffered in exchanging
the said silver coin for United States
gold coin, and to deposit the same
with the said special deposit as a
part thereof. All Hawaiian silver
coin received in exchange for such
certificates shall be held as a special
deposit to be used if it should be-
come necessary for the purchase of
United States gold coin for the can
collation. of the said certificates, in
which case the numerical loss suf-
fered in exchanging the said
Hawaiian coin for United States
gold coin shall be made up in the
same manner provided above in the
case of other silver coin; provided,
however, that the Minister of Fl
nance shall Immediately replace one
fifth of the said Hawaiian silver coin
with United States gold coin in the
manner provided above, and shall
alwas, from time to time as the said
reserve of gold coin shall become
reduced by the redemption of any OF
the said certificates, replace more OF
the said Hawaiian silver coin with
United States gold coin in the same
manner as above provided, so that q
permanent reserve of the United
States gold coin equal to at least 8
one-ffth proportion of the certificates
outstanding on account of the said
Hawaiian silver coin shall be pro.
vided for the redemption of the sale
certificates.
SECTION 4. On and after the sale
first day of October the Minister Of
Finance may, at his discretion, re-
ceive United States gold coin on
deposit to any amount not less thar
fifty dollars, and shall issue therefor
certificates of deposit of such di.
nominations as he shall deem to bt
for the public interest, payable tc
bearer on demand without interest
The said certificates shall be signed
by the Minister of Finance anC
countersigned by the Registrar O.
Public Accounts, and the money
received for such certificates shal
be held as a special deposit to bc
used only for the cancellation of the
same.
SECTION 5. This Act shall becom,
law from and after the date of il
approval, and an Act entitled "Al
Act to Regulate the Currency
approved the 18th day of September
1876 and Section 479 of the Civi
Code as amended by Chapter Al O
the Laws of 1874, an Act entitled
San Act to Provide for Nationa
Coinage" approved the 18th day o
August, A. d. 1880, and all otheI
Acts and parts of Acts inconsistent
with the provisions of this A ct az,