Chapter CXXVII. *to prohibit certain Sales of Gold and Foreign Exchange.* June 17, 1864. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Certain contracts for the purchase, &c., of gold coin and bullion and foreign exchange made unlawful
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Chap. CXXVII.— An Act *to prohibit certain Sales of Gold and Foreign Exchange.* June 17, 1864. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Certain contracts for the purchase, &c., of gold coin and bullion and foreign exchange made unlawful. That it shall be unlawful to make any contract for the purchase or sale and delivery 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the payment of any sum, either fixed or contingent, in default of the delivery of any gold coin or bullion, or to make [Repealed, 1864, ch. 209. *Post*, p. 344.]such contract upon 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 contract is made, in United States notes or national currency, and not otherwise; 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 payment 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 Certain loans made unlawful.making the same, be in actual possession.
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. Contracts for purchase of gold, &c., to be made only at the ordinary place of business, &c.*And be it 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 business of either the seller or purchaser, owned or hired, and occupied by him individually, or by a partnership pf which he is a member.
Sec. 3. Void contracts.*And be it further enacted*, That all contracts made in violation of this act shall be absolutely void. Sec. 4. Penalty for violations of this act to be fine or imprisonment.*And be it further enacted*, That any person who shall violate any provisions of this act shall be held guilty of a misdemeanor, and, on conviction thereof, be fined in any sum not less than one thousand dollars, nor more than ten thousand dollars, or be imprisoned for a 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 it further enacted*, That the penalties imposed by theTHIRTY-EIGHTH CONGRESS. Sess. I. Ch. 128, 129. 1864.133 fourth section of this act may be recovered in an action at law in any courtPenalties, how may be recovered. of record of the United States, or any court of competent jurisdiction, which action may be brought in the name of the United States by any person who will sue for said penalty, one half for the use of the UnitedHalf of money to go to person bringing the suit.
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 a bar to the imposition of any fine for the same offence in any prosecution instituted subsequent to the recovery of such judgment, but shall notJudgment, &c., not to be bar of imprisonment. be a bar to the infliction of punishment by imprisonment, as provided by said fourth section. Sec. 6. *And be it further enacted*, That all acts and parts of acts inconsistentRepealing clause. with the provisions of this act are hereby repealed.
Approved, June 17, 1864.