The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1884-06-27
DR.. MOTT SMITHS GOLD LAW.

SECTION l. From and after the
first day of October, in the year of
our Lord eighteen hundred and
eighty-four, the gold coins of the
United States of America shall be
the standard, and legal tender, at
their nominal value in the payment
of all debts public and private, with
in the Hawaiian Kingdom.
SECTION 2. The standard silver
coins of the United States of
America, and the silver coins of the
Hawaiian Kingdom shall be legal
tender, at their nominal value, for
any amount not exceeding ten dol
lars in any one payment.
SECTION 3. From and after the first
day of October, 1884, gold and sill
yer coins, other than the coins of the
United States and of the Hawaiian
Kingdom, shall De received in the
Treasury at a rate not exceeding
their bullion value, fof Government
dues, duties and taxes.
SECTION 4. 1t shall be lawful for
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the approval of this Act, in his dis
cretion, to replace any silver coins
which may be in the treasury either
as Government realizations or OH
deposit on account ofany silver certifi-
Gates which have been issued, with
gold coins of the United States of
America, in the same manner as
hereinafter provided in Sections 5,
6 and Z of this Act.
SECTION 5. Upon the approval of
this Act the Minister of Finance
without delay shall give notice by
public advertisement that for thirty
days, Immediately following such
notice, silver coins of all denomina-
tions, excepting silver coins of the
Hawaiian Islands and of the United
States, will be received at the Treas
ury at their nominal value in eX-
change for Hawaiian coins at their
nominal value; and the Minister of
Finance without delay shall arrange
through advertisement for tenders,
or otherwise, for the sale, at an
amount not exceeding one hundred
and fifty thousand dollars in each
calendar month, of all the silver
coins which are or may be in the
Treasury, excepting Hawaiian silver
coins and coins of the United States,
and the delivery of the proceeds 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 per-
sons whose tenders shall be accepted
for the conversion of said silver
coins into gold coins, deposit in
the treasury of the Hawaiian Govern
ment bonds, of like amounts as the
nominal value of the silver delivered
to them, and the said bonds shall be
held as security, for the delivery of
the proceeds of the sale of the silver
coins to the treasury, in gold coins
of the United States, and upon such
delivery the bonds so deposited
shall be 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 to
provide for the same, from any
monies not otherwise appropriated,
or which may hereafter be appro-
priated, and he shall render an ac-
curate statement of such expenditure
in his report to the Legislative As
sembly.
SECTION 8. Chapter Al of the
Session Laws of 1876, being an Act to
regulate the currency, and Chapter
81 of the Session Laws of 1880,
being an Act to provide for
national coinage, are hereby re-
pealed, and all Act and parts of
Acts contrary to the provisions of
this Act are hereby repealed,