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

To REGULATE TIE CUERENCY,
BE- IL Enacted by the hing and the Legis-
latiye Assembly Of the HawaiiHn Islands,
in the Legislature of the Kingdom as
semhled:
SECTION i. From and after the first day
Of December, in the year Of our Lord eigh
teen hundred and cighty-four. the gold
coins Of the United States uf America
shall ba the standard and legal tender, at
their nominal value in the payment Of all
debts. public and private, within the Ha-
waiian Kingdom.
SEcriox . The standard silver coins
Of the United States Of America and the
silver coins Of the Hawaiian Kingdom
shall be. from and after December lst, 1854
legal tender, at their nominal value for
Any amount not exceeding ten dollars in
any one payment.
SEcrtoN 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.
meni dues. duties and taxes
Section 4 Whenever It shall appear,
that there is such an excess uf silver coins
in circulation as disturbs the equilibrium
bo.wccn gold and silver coins under the
provisions OF this Act, the Minister OF
Finance, in order 10 restore such equili
hrium. shall replace sufficient silver coin
from any silver coin which may bc IN the
Treasury, either as Government realiza-
tion 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 ;, 6 and OF this Act.
SECTION 8. Upon the approval Of this
Acs, the Minister OF Finance without dc
lay shall give notice hy public advertise
ment 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,
viii be received at the Treasury at their
nominal value in exchange for Hawaiian
COINS at their nominal value aud the
Minister OF Finance without delay. shall
arrange through advcrtisementfo 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 moro than
SJ0.0OO each, and the delivery Of the pro
ceetis Of the sales Of said silver coins into
the Treasury in gold coins Of the United
States.
SECTION 6. The Minister OF Finance
shall require Of those persons. whose ten
ders. being accepted shall desire 10 re
move tho silver coin bid for by them from
the Treasury, priur 10 the delivery Of the
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 I've held as security for the de
livery Of the proceeds Of the sale Of the
silver coins to the Treasury in gold coins
Of the United States within thirty days /;
and upon such delivery the Bonds so de
posted shall he returned
SECTION Z. 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 10 provide for the same. from
any moneys not otherwise appropriated,
or which may hereafter bc appropriated,
and he shall render an accurate statement
Of such expenditure in his report to the
Legislative Assembly.
SECTION s. On and after the first day
OF December. 1884, all outstanding silver
certificates excepting the ten dollar silver
and on demand shall be redeemed at their
nominal value in United States gold coin.
and all silver certificates SO redeemed shall
Be cancelled by the Registrar Of Public
Accounts.
SrcrroS .. The Minister Of Finance
NAV. at his discretion, receive United
States gold coin on deposit 10 any amount
not less than fifty dollars, and shall issue
therefor certificates Of deposit of such de
nominations as be shall deem to be for the
public interest, payable 70 bearer on de
nnnd without Interest The said certif-
caies shall be signed by the Minister Of
Finance and countersigned by the Regis
trur OF Public Accounts, and the money
received for such certificates shall be held
as a special deposit 10 be used only for the
cancellation OF the same. and Section 479
~ fhe Civil Code. as amended by Chapter
A Of tho Laws Of 1874, Is hereby repealed
SrcT1oS 10 Chapter 81 Of Session
IlawE cf 1850, Yang An Act TO provide for