The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-02-24

Restoration Of Reserve Fun.


First. by exchanging the notes so re-
deemed for any gold coin In the general
fnnd OF the treasury. second, BY accepting
deposits OF gold coin at the treasury or
al any suhtreasury in exchange Tor the
United States notes so redeemed third.
by procuring gold coin by the use OF sand
notes. in accordance with the provisions
OF section 500 of the Revised Statutes of
the United States. II the secretary Of the
treasury Is unable TO restore and maintain
the gold coin In the reserve fund by the
foregoing methods. and the amount OF
such gold coin and bullion In SAID fund
shall at any time fall below 500 p0 on
then II shall be his duty to restore the
same to the maximum sum OF sl50.e o03
by borrowing money on the credit OF the
United States. and for the debt thus in
CURED to issue and sell coupon or regis
tered bonds OF the United States IN such
form aA he may presC rfbs. In denomfpa-
tions Of SO or any multiple thereof hearing
interest at the rate of not exceeding
per centum per annum. payable quarterly
sucA bonds 70 be payable at the pleasure
Of tho United States after one year from
the date OF their issue, ard to
ee payable principal and interest.
m gold coin Of the present standard
value and 10 be exempt from ire
payment OF all taxes or dues Of the United
states. as well as from taxation In any
form, BY or under state, municipal or To-
cal authority. and the gold coin received
from the sale of said bonds shall first be
covered into tho general fund Of the
treasury and then exchanged IN the man
ner hereinhefore provided for an equal
amount ot the notes redeemed and held
for exchange. and the secretary ~ the
treasury may in his discretion use said
notes iu exchange for gold or 70 purchase
or redeem any bonds uf the United States
or for any other lawful purpose the pvb-
they shah nos be used 20 meet deActcncies
TIA the current revenues That the Jnltrd
States notes. when redeemed in accord
ancc with the provisions - this section.
shan be reiss9od, bat shall be held IN the
reserve fund untn exchanged tor gold. as
herein provided. and the gold coin and
bullion IN the reserve fund together With
the redeemed notes held for use. as pro
vidsd in this section shall az no time ex-
coed the maximum sum of $3.50 nooo0a
NJ Limitation for Legal Tender.
Sec That nothing contained in this
act shall be construed 10 areet he legal
tender guslity as now provided BY law O,
the silver dollar or og any oth,r money
coined OF issued BY the United states
Division. OF Issue and Redemption
Sec 4 That there be established IN the
treasury department as part of .hc Jf-
Hce ~ the treasury % the Urfed States
divisions 20 he designate and known as ta-
division % issue and the division u 70
dempuon. 20 whica shail be assigua3. re-
spectiVc.y. under. such regulations as the
secretary 20 the treasury may approve. az
records ard accounts reAtiug 10 tnh isxse
and redemption - Cnitss States notes e1ts
certificates silver certificates Rnd currency
certiacates There shah Ne transferred froa
tse accounts 90 the general fsri 10, ,he
treasury ~ the United States ana taken
upon the books of said divisions ~rs7s tive
Is. accounts relating 10 she r-serge fund
for the redemption ~ Tnitet States snd
troasary notes the gold coiu held 4xairst
outs'audine gold certificates. the United
States notes held against outs, r. Sing rsr-
rercy certificates ard tA~ silver dollars
ra.1 3E5iu~- 7uts.a0.irg silver -tia-at--
ana each cS the funds repre~eptel DO .hc-,
accounts shall ho used fo- the reIeuptf7n
cnnLLuucA on Eaae Two