Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-08-21

In lieu Of an equal amount CT demand
notes and could be issued only rs the de-
mand notes were Cancelled \ second issue
of $3.50, 600, 900 was authorized by the net
of July II, 1869, Of which, however, $780,
10000 was to be temporary issue for
the redemption of tlobt known as the
temporary loan. A third issue Of $780,
900, 900 was authorized by the act Of March
3, 1853. The total amount authorized, in
Guiding the temporary issue, was $3.50, 0oO,-
900, and the highest amount outstanding
at any time was $40, 33S, 9O3, on Jan 30,
1864. There Is still outstanding $780,
6S1 ,O16.
The reduction from tho original per1na-
nent issue of $500, 900, 600 to S34G, 031 ,016
was caused as follows: The act of April 12,
1866, provided that United States notes
might be retired to the cltcnt OF S10.OOO,-
600 during the ensuing six months, and
that thereafter they might bc retired at the
ratio of not moro than $4,000, 900 per
month. This authority remained in force
until it was suspended by the act Of Feb.
1, 1868. The authorized amount of reduce
tio:l during this Period WAS about $40, OOO,-
OOo, but tho actual reduction was only
about s44 ZOO, 900. No change was made
In the volume OF United Suites notes out
standing until G;tur the paEic OF 1878,
when. In response to popular demand, the
government reissued SIC, 100000 OF the
cancelled notes
$3.50 ,OOO. 900, and 1t so remained until the
resumption act of Jan. IA. 1875, provided
for Its reduction to $500, 600, 900. The proc
esq was, however, again stopped by the
act of May 81, 1878, which required the
potoa IN bo ,>o1eo,, od xvhoy, HeflooynoA At
that time the amount outstanding was
$S46, 6s1, DIG, which is the present amount
Gold Certificates.
The act of March 8; 1868. authorized
| the secretary Of the treasury to receive de-
posits Of gold coin and bullion In sums not
less than $50 and to issue certificates
| therefor In denominations not less than
$50, said certificates to be receivable for
duties on Imports Under this act deposits
of gold were received and certificates issued
until Jan. I, 1879, when the practice was
discontinued by order Of the secretary OF
the treasury. The purpose Of the order was
to prevent the holders of United States
notes from presenting them for redemp-
ton In gold and redepositing the gold In
exchange for gold certificates. No oertifl-
Gates were issued after Jan. /, 1879, until
the passage of the bank act Of July -,
1882, which authorized and directed the
secretary of the treasury to receive gold
coin and bullion and issue certificates
Silver Certificates.
The act of Feb 90, 1873, authorizing the
issue Of the standard silver dollar, provid-
ed that any holder Of such dollars might
deposit them in sums not less than SO
with the treasurer or any assistant treasur-
er of the United States and receive certif-
Gates therefor in denominations not less
than $40, said certificates to be receivable
for customs, taxes and all public dues.
The act of Aug. 4, 1885, authorized the is-
sue Of the smaller denominations of 81, %
and S. Silver certificates have practically
taken the place in circulation of the stand
ard silver dollars which they represent.
The amount outside the treasury July l,
1896, was 1881, 1850, 500, while the amount
Of standard silver dollars outside the treas
ury was only $50, 175, 9s3 Neither sil7el