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


as trust funds.
Cancellation of Treasury Notes.
Sec. 5. That it shall be the duty OF the
secretary OF the treasury. as fast as
standard silver dollars are coined under
the provisions of the acts Of July IA, 1880.
June u, 1888, from bullion purchased under
the act of July "a, 1890. 10 retire and cancel
an equal amount Of treasury notes, when
ever received into the treasury, either by
exchange. in accordance with the provis-
ions 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 so coined.
Gold Certificates.
Sec. g That the secretary Of the treas
ury is hereby authorized and directed to
receive deposits OF gold coin with the
treasurer or any assistant treasurer Of
the | lifted States, in sums of not less
therefor in denominations of not less than
$40 and the coin so deposited shall be
retained in the treasury and held for the
payment OF such certificates on demand
and used for no other purpose. Such GER
tincates shah be receivable for customs
taxes and all public dues, and when so
received may be reissued, and when held
by any national banking association may
serve.
Provided that whenever and so long as
the gold coin held in the reserve fund OF
The treasury for the redemption OF United
states notes shall fail and remain below
sloo.ooooo, the authority TO issue certifi-
Gates as herein provided shall be sus-
pended; and provided further. that when
ever and so long as the aggregate amount
OF United States notes and silver certif-
Gates IN the general fund of the treasury
shall exceed $50 900 0oa the secretary oe
the treasury may, in his discretion, sus-
pend the issue of the certificates herein
provided for; and provided further that
OF the amount of such ortstanding certifi-
Gates, one-fourth at least shall be in de-
nominauons OF $50 or less: and provided
further that the. secretary OF the treas
ury may In his discretion, issue such GER
uhcates in denominations OF $40 900 paya-
Die TO order. And section 5,193 OF the Re-
vised Statutes OF the United States is
hereby repealed.
Issuance of silver Certificates.
Sec. 7. That hereafter silver certificates
shall be issued only of denominations OF
$40 and under. except that not exceeding
IN the aggregate 10 per cent, Of the total
volume or said certificates. In the dscre-
ton or the secretary Of the treasury, may
be issued In denominations Of $50 $50 and
800 and silver certificates of higher de-
nomination than SO except as herein pro-
vided shall, whenever received al tho trs AZ.
ury or redeemed, be retired and cancelled
and certificates OF the denominations OF $40
or less shall be substituted therefor and
AFTER such substitution, in waole or in part,
Ike volume of United States notes Of
less denomination than SO shall from time
10 time be retired and cancelled and notes
Or denominations Of SO and upward shall
tx, 'e'17u ssu III SUBSTITUTION therefore with
IKE qualities and restrictions as those re-
tired and cancelled
Subsidiary Coinage.
Sec. s. That the secretary of the treas
ury is hereby authorized TO use at his
discretion any silver bullion in the treas
ury OF the United States purchased un-
ger the act OF July u. 1890 for coinage
into such denominations of subsidiary
silver coin as may be necessary to meet
the public requirements for such coin pro-
sit-
yer coin outstanding shall not al any tima
exceed in the aggregate 100000 eco When
ever any silver bullion purchased under
the act OF July H. 1890. shall be used in
the coinage Of subsidiary silver coin. an
amount of treasury notes issued under
said act equal to the cost OF the ouliion
contained In such coin shall be cance.ed
and not reissued.
Recoinage Of Worn Coins.
Sec. O. That the secretary OF the treas