The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1897-12-25
Creates n New Division.
1t provides for the establishment as

Creates n New Division. ..
1t provides for the establishment as
q part of the office of treasurer, ii divi-
sion of issue and redemption, to which
may be assigned under regulations
approved by the secretary of the trea-
sury all records, accounts relating to
The issue and redemption and exchange
of the various classes of United States
paper money. There shall be transfer
red from the general fund to its books
as a redemption fund a hundled and
twenty-five million dollars i'll gold
coin and bullion and enough silver coin
and bullion to equal the silver c%ertiti-
Gates and the treasury notes issued
under the act of July IA, 1890, out
standing when the act goes into effect.
Thereafter these sums in gold and
silver shall be increased and dimin-
ished only in accordance with the
terms of this act.
Redeem Currency.
All United States notes, treasury
notes of 1890 and silver certificates pre-
sented shall be redeemed from this
fund, and when redeemed shall consti-
tute n part of said fund and shall not
be withdrawn nor disbursed except in
CNSA0A6C " AZ Soll LII NlAN1 UhVN
were originally redeemed; but the
secretary Of the treasury may author
ize the exchange of any funds in this
division for any funds in the general
fund Of the treasury, provided there
must never be outstanding trea-
sury notes and silver certificates than
there is silver bullion and standard
dollars in the treasury.
RefundtnK Bonds.
The secretary of the trasury is au-
thorized to receive 5 per cent of the
bonds of 1904 and 4 per cent %consols of
1907 and issue in exchange therefore
, 1-2 per cent bonds, redeemable at the
pleasure of the United States after ten
years, payable, principal and interest
in gold and be exempt from all taxa
lion, state, municipal or local. Provid-
ed the value of the bonds redeemed be
reckoned in nscertaining the value at
: Ia per cent, and the bonds issued
De issued at no less than par.
Bonds for Circulation.
These and any other United States
bonds to be receivable by the treasury
as a security for national bank circu-
lation to the par value thereon. Any
national bank whose deposit. of bonds
is less than its capital may deposit the
remainder in United States notes,
treasury notes Or silver certificates as
a security equal to the amount of it's
own notes. But not over 5000, 600, 900
of United States notes, treasury notes
and silver certificates shall be issued.
The secretary of the treasury may
from time to time issue 2 1-2 per cent
bonds and substitute them for United
States paper currency deposited by ma
tional banks, charged to said banks,
and the value to be never below the
par of United Sattes paper money SO
released and to become q part of the
redemption fund.
The secretary is authorized to ex-
change treasury notes and silver GER
~tificates for United States notes, and
The amount of bonds issued under this
section is limited to 5000, 900, 900, !,
Deposit by Ranks.
1t is further provided that any ma
tional bank NAV deposit United States
bonds or United States money
10 the amount of not less than 10 n.r
sent, of its capital against which nav
then issue n like amount of ;ts own
notes and in addition. provided The To-
tai does not exceed its capital. notes
ot the amount of 25 ne, cent of such
denosits. such additional notes tn Iva
~ esd E "