The record-union., 1896-07-07
WHAT MONEY is GOOD.
important Circular Issued by the State
Treasurer.
Certain Kinds of United States Monev
Will Not be Received for
State Taxes.

State Treasurer Levi Rackliffe has is
sued circular which is of great i'm
portance to taxpayers and which makes
very interesting reading. 1t explains
Itself and is as follows:
STATE TREASURER'S CIRCULAR.
Treasury Department, State of Cali
fornia, Sacramento (Cal), June q, 1896.
The attention of county officers, Off
GERS of State institutions, corporations
and other parties paying money into
the State Treasury, is respectfully
called to the following opinion of the
Attorney General of this State, which
will govern the financial transactions
of this office in this regard, until fur
ther notice. Very respectfully,
LEVI RACKLIFFE,
State Trea surer of State of California.
Attorney Generals Office, State Of
California, San Francisco, May %,
1S96.-Hon Levi Rackliffe, State Treas
urer, Sacramento, Cal.-Dear Sir: 1 am
in receipt of your favor of recent date,
calling my attention to an Act of the
Legislature of the State entitled AN
Act in relation to the currency of the
United States" approved March II,
1880 (Stats. 1880, s., and asking an
opinion from me as to what are legal
tender notes issued by the Government
of the United States of America as legal
tender notes. and what notes should be
received at the State Treasury in pay
fnent of taxes or in payment of other
Indebtedness due the State" You State
You have in mind: United States notes,
old demand notes. gold certificates. sill
Yer certificates, certificates of deposit,
Of 1900 national hank
notes, or any notes issued by, or under
authority Of the United States.
Section 1 of the Act of March r. 1880,
above referred to, reads as follows:
"All legal tender notes heretofore is
sued, or which may hereafter be is
sued, by the Government of the United
States of America, as legal tender notes,
shall be received at par in payment for
al taxes due or to become due to this
State, or to any county or municipal
coration thereof, and such notes
shall be d legal tender for all debts,
dues. and demands, between citizens of
this State
l will consider each of the different
character of notes enumerated by you,
in the order of their enumeration:
First Omitted States notes. These
are expressly declared to be legal ten
der by Section 3,5SS of the Revised
Statutes of the United States, and must
be received by you. They are commonly
known as legal tender notes. and were
issued under authority of the follow
ing Acts of Congress: February %,
1862 Q2 Stat, p. 345); July II, 1862
Q2 Stat, p. 800; March 3, 1868 a.
Stat, p. 110).
Second (old demand notes)-These
are also legal tender, and must be re-
ceived (Rev. Stats. L. S., Sec. $3.50.
They are also called Demand Treasury
Notes, and We're issued under authority
Of the Act of July II. 1861 % Stat,
25O; Supplemental Act of August D,
1861 az Stat, 313); and Act of Feb
ruary L, 1862 % Stat, $3.50.
Third gold certificates)-Of these
there were three issues, viz: (a) An is
sue of 1881, 134, $50 46, authorized by
Act of March 3, 1863 12 Stat I'D. of
which, on the 9TH of March, 1896. there
were only S224, 800 outstanding Senate
Doc No. 154, Fifty-fourth Congress,
first SESSION..
These We're never declared to be le-
gal tender, and cannot be received as
such by you.
Cb) An issue of S3SS, $50, 900 gold Ger
tifcates, payable to bearer" under Act
July II, 1882 CD Stat. 165), of which
sd, ,259, 1863 were outstanding on March
=, 1896 (Senate Doc. No 154, Fifty
fourth Congress, first SESSION..
(c) cold certificates, payable to or
der" Of which S169 245, 900 was issued
under the same Act. and of which SIC,
$4,000 was outstanding on March ),
1896 Senate Doc. No. 154, Fifty-fourth
Congress, first SESSION..
Both of the last mentioned gold Ger
tifcates are receivable for customs,
taxes and all public dues; but they are
not declared TO be legal tender. and
cannot be received as such under the
California statute above quoted.
Fourth (silver certificates)-Of these
there were issued under Act of Febru-
ary 2S, 1873 GO Stat. p. 26), and Sup
Elemental Act of August 4, 1856 ca
STAT. p. 227), S1.171, ,27S.000, of which
s345, ,702, ,504 We're outstanding on March
g. 1896 Senate Doc. No. 1o4, Fifty
fourth Congress, first SESSION..
These silver certificates" are de-
clared by the Act Of 1878 to be "receiv
able for customs, taxes and all public
dues" They are not, however, de-
clared TO be legal tender, and, there
fore, do not come within the provisions
OF the California Act of March u. 1880
Fifth Certificates of deposit)-The only
issue of certificates of deposit" Of
which l am aware is that authorized
by the Act of June 8, 1872 01 Stat. p
1850. in denominations of not less than
$1,000. Of these there are some S34.
-