Year: 1864




AN ACT to prohibit certain sales O,


gold and foreign exchange.


BE Il enacted By the Senate and Hous,
Of Representatives. Of The United States OF
america an Congress assembled, That
it shall be unlawful to make any con.
tract for the purchase or sale and de-
livery of any gold coin or bullion to
be delivered on any day subsequent
to the day of making such contract,
or for the payment of any sum. either
fixed or contingent, in default of the
delivery of any gold coin or bullion,
or to make such contract npon any
other terms than the actual delivery
of such gold coin or bullion, and the
payment in full of the agreed price
thereof, on the day on which such con-
tract is made, in United States notes
or national currency, and not other
wise; or to make any contract for the
purchase or sale and delivery of any
foreign exchange to be delivered at
any time beyond ten days subsequent
to the making Of such contract or
for the payment Of any sum, either
fixed or contingent, in default of the
delivery of any foreign exchange, or
upon any other terms than the actual
delivery of such foreign exchange
within ten days from the making of
such contract, and the immediate pay
ment in full of the agreed price thereof
on the day of delivery in United States
notes or national currency; or to
make any contract whatever for the
sale and delivery of any gold coin or
bullion of which the person making
such contract shall not, at the time of
making the same, be in actual posses
sion. And it shall be unlawful to
make any loan of money or currency
not being in coin to be repaid in coin
or bullion, or to make any loan Of coin
or bullion to be repaid in money or
currency other than coin.


Sec 2. And be IL further enacted,
That it shall be further unlawful for
any banker, broker, or other person,
to make any purchase or sale Of any
gold coin or bullion, or of any foreign
exchange, or any contract for any
such purchase or sale, at any other
place than the ordinary place of busi-
ness of either the seller or purchaser,
owned or hired and occupied by him
individually, or by n partnership of
which he is member.


Sec. 3. And Be Il further enuoted,
That all contracts made in violation of
this act shall be absolutely void.


Sec. 4. And be u further enacted.
That any person who shall violate any
provisions of this act shall be held
guilty Of a misdcmeanor, and, on con-
viction thereof be fined in any sum
not less than one thousand dollars,
nor more than ten thousand dollars,
or be imprisoned for period not less
than three months nor longer than one
year, or both, at the discretion of the
court, and shall likewise be subject to
a penalty of one thousand dollars for
each offence.


Sec. 5. And be IL FURTHER enacted,
That the penalties imposed by the
fourth section of this act may be re-
covered in an action at law in any
court Of record of the United States,
or any court Of competent jurisdiction,
which action may be brought in the
name of the United States 10y any per-
son who will sue for said penalty, one
half for the use of the United States,
and the other half for the use of the
person bringing such action. And
the recovery and satisfaction of a
Judgment in any such action shall be
bar to the imposition of any fine for
the same offence in any prosecution
instituted subsequent to the recovery
of such judgment, but shall not be a
bar TO the inflction Of punishment by
imprisonment, as provided by said
fourth section.


Sec. 6. And be 1t further enacted,
That all acts and parts of acts incon-
sistent with the provisions of this act
are hereby repealed.


Approved, June II, 1864.