New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-23

ury, either by exchange in accordance with the
provisions Of this act or in the ordinary course
Of business, and upon the cancellation of Treas
ury notes silver certificates shall be issued
against the silver dollars so coined
Sec g. That the Secretary OF the Treasury is
hereby authorized and directed to receive de-
posits of gold coin with the Treasurer or any
Assistant treasurer OIL OF the thited STATES IN
sums of not less than $50. and to issue gold GER
tificates therefore in denominations of not less
than $50, and the coin so deposited shall be re-
tanned in the Treasury and held for the pay
ment of such certificates on demand, and used
for 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 asso-
citation may be counted as part of It's lawful
reserve:
Provided that whenever and so long as the
gold coin held in the reserve fund in the Treas
ury for the redemption of United States notes
and Treasury notes shall fall and remain below
800 600 the authority to issue certificates
as herein provided shall be suspended;
And provided further, that whenever and 80
long as the aggregate amount of United States
notes and silver certificates in the general fund
of the Treasury shall exceed $50 100000 the
Secretary of the Treasury may, in his discretion,
suspend the issue Of the certificates herein pro-
Vided for;
And provided further that Of the amount Of
such outstanding certificates, one-fourth at least
shall be in denominations of $50 or less;
And provided further, that the secretary OF
the Treasury may, in his discretion, issue such
certificates in denominations Of $4,000, pay
able to order And Section 5.193 of the Re-
vised Statutes of the United States Is hereby
Sec. I. That hereafter silver certificates shall
be issued only of denominations OF $40 ana un-
der except that not exceeding in the aggregate
10 per centum of the total volume Of said GER
tfcates in the discretion of the Secretary Of
the Treasury, may be issued in denominations
OF $50, $50, and 500; and silver certlhcates
of higher denomination than So except as
herein provided, shall, whenever received at
the Treasury or redeemed be retired and can
ceIled, and certificates of denominations of $40
or less shall be substituted therefor. and after
yoInme of tinted States notes Of less dcnom-
nation than so shall from time to time be re-
tired and cancelled and notes of denominations
of $40 and upward shall be reissued in substi
tuition therefor, with like qualities and restric-
| lions as those retired and cancelled.
COINAGE OF SUBSIDIARY SILVER.
Sec 8. That the Secretary OF the Treasury
IS hereby authorized to use at his discretion
any silver bullion in the Treasury or the 1lted
States purchased under the act of July H. 1890
for coinage into such denominations or suhsld-
larry silver coin as may be necessary TO meet
the public requirements for such coin; provided.
that the amount of subsidiary silver coin out
standing shall not at any time exceed IN the
! aggregate S1O0OOO00O Whenever any silver
| bullion purchased under the act OF July H.
1900 shall be us ID in the coinage of subsidiary
silver coin, an amount Of Treasury notes issued
under said act equal 10 the cost OF the bullion
| contained in such coin shall be cancelled and
| not reissued.
| Sec 9 That the Secretary Of the Treasury
! is hereby authorized and directed to cause all
| worn and uncurrant subsidiary silver coin or
] the United States now in the treasury ana
! hereafter received. to be recOined, and to reim-
| burse the Treasurer of the United States for the
! difference between the nominal or face value
| Of such coin and the amount the same will
! produce in coin from any moneys In the
| Treasury not otherwise appropriated.
| Sec. 10 That Section 5.13S of the Revised
! Statutes is hereby amended SO as TO read as
! follows:
! Section 51Ss. No National banking associa ton
shall be organized with less capital than SlGo9Un
/ except that banks with capital OF not less than
$50 900 may with the approval OF the Secretary Of
! the Treasury be organized in any place the popu-
! lation of which does not exceed six thousand IN
habtants. and except that hanks with a capital OF
not less than $4,000 may with the sanction OF the
! Secretary Of the Treasury, be organized IN any
place the population Of which does not exceed three
thousand inha hitants. No association shall be or
| ganzed in a city the population of which exceeds
! nifty thousand persons with capital of less than
/ 100000
THE REFUNDING PROVISION