Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-03-24

Sec. 4. That there be established In
the treasury department. as a part Of
the Office OF the treasurer Of the United
states, divisions to be designated and
known as the division OF issue and the
division OF redemption. TO which shall
be assigned, respectfully. under such
regulations as the secretary OF the
treasury may approve an records and
accounts relating 10 the issue and re-
demntion OF United States notes. gold
certifcats. silver certificates. and cur
rency certificates. There shall be trans
ferred from the accounts OF the general
fund Of the treasury Of the United
States, and taken UP on the books OF
said division, respectively, accounts re-
lating 70 the reserve fund for the re.
demption OF United States notes and
treasury notes. the gold coin held
against outstanding currency oertih-
Gates, the United States notes held
against outstanding currency certih-
oates, and the silver dollar held against
outstanding silver certificates, and each
OF the funds represented by these ac-
counts shall be used for the redemption
OF the notes and certificates for which
they are respectfully pledged, and shall
w uHtI ivi ~ othtI HulpVsts tHt same
being held as trust funds.
Sec. 8. That Il shall be the duty OF
the secretary OF the treasury as fast
as standard silver dollars are coined
under the provisions Of the act OF July
fourteenth, eighteen hundred and nine
~ and June thirteenth. eighteen hum
dred and ninety-eight,f from bullion pur-
chased under the act OF July fourteenth,
eighteen hundred and ninety. 10 retire
and cancel an equal amount Of treasury
notes whenever received into the treas
ury, either by exchange in accordance
with the provisions OF this act or In the
ordinary course Of business, and upon
the cancellation Of treasury notes silver
certificates shall be Issued against the
silver dollars 50 coined.
Sec. 6. That the secretary Of the
treasury Is hereby authorized and d.
rected TO receive deposits OF gold coin
with the treasurer or any assistant
treasurer Of the United States In sums
Of not less than twenty dollars. and to
issue gold certificates therefor In de-
nominations Of not less than twenty
dollars. and the coin so deposited shall
be- retained In the treasury and held FOR
the payment Of such certificates on de-
mand, and used for no other purpose.
Such certificates shall be receivable for
customs. taxes, and all public dues, and
when so received may be reissued and
when held by any national banking as
ISOLATION may be counted as a part Of
It's lawful reserve; Provided, That
whenever and so long as the gold coin
held In the reserve fund in the treasury
for the redemption OF United States
notes and treasury notes shall fall and
remain below one hundred million doll
lars the authority TO Issue certificates
as herein provided shall be susTlnded:
And provided further That whenever
and 80 long as the aggregate amount
OF United Satees notes and silver GER
tifcates in the general fund Of the
treasury shall exceed sixty million dol
lars the secretary Of the treasury may,
m his discretion. suspend the Issue OF
the certificates herein provided for: And
provided further, That OF the amount
~ such outstanding certificates one
fourth at least shall be In denomna-
lions OF fifty dollars or less And pro-
Nded further, That the secretary of the
treasury may. In his discretion. issue
such certificates In denominations OF
ten thousand dollars, payable to order.
And section fifty-one hundred and nine.
ty-three OF the Revised Statutes Of the
United States is hereby repealed.