Chapter 190.
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/statutes-at-large/vol-36/chapter-190-4092380·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 190.— AN ACT To amend section six of the currency Act of March fourteenth, nineteen hundred, as amended by the Act approved March fourth, nineteen hundred and seven. March 2, 1911. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That section six of an Act Gold bullion, etc.to define and fix the standard Vol. 31, p.47.of value, to maintain the parity of all forms of money issued or coined by the Vol. 34, p. 1289, amended.United States, to refund the 965public debt, and for other purposes, approved March fourteenth, nineteen hundred, as amended by the Act approved March fourth, nineteen hundred and seven, be, and the same is hereby, further amended so as to read as follows:
“Sec.6.That the Secretary of the Treasury is hereby authorized and directed to receive deposits of gold coin Gold certificates issued for deposits of gold coin. with the Treasurer, or any assistant treasurer of the United States, in sums of not less than twenty dollars, and to issue gold certificates therefor in denominations Denominations.of not less than ten dollars, and the com 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 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 association may be counted as a part of its lawful reserve: *Provided,**Provisos.*That whenever and so long as the gold coin and bullion held in the reserve fund in the Treasury for the redemption of United States notes and Treasury notes shall fall and remain belowSuspension oí issue if reserve fund below $100,000.000.one hundred million dollars the authority to issue certificates as herein provided shall be suspended: *And provided further,* That whenever and so long as the aggregate amount of United States notes and silver certificates On increase of silver certificates, etc., in the Treasury.in the general fund of the Treasury shall exceed sixty million dollars the Secretary of the Treasury may, in his discretion, suspend the issue of the certificates herein provided for: *And provided further,*That of the amount of such outstanding certificates Denomination of outstanding certificates.one-fourth at least shall be in denominations of fifty dollars or less: *And provided further,* That the Secretary of the Treasury may, in his discretion, issue such certificates in denominations Large notes.of ten thousand dollars, payable to order: *And provided further,* That the Secretary of the Treasury may, in his discretion, receive, with the assistant treasurer in New York and the assistant treasurer in San Francisco, deposits of foreign gold coin Issue for bullion value of foreign gold coin.at their bullion value in amounts of not less than one thousand dollars in value and issue gold certificates therefor of the description herein authorized: *And provided further,* That the Secretary of the Treasury may, in his discretion, receive, with the Treasurer or any assistant treasurer of the United States, deposits of gold bullion bearing the stamp Issue for stamped bullion.of the coinage mints of the United States, or the assay office in New York, certifying their weight, fineness, and value, in amounts of not less than one thousand dollars in value, and issue gold certificates therefor of the description herein authorized.
But the amount of gold bullion and foreign coin so held shall not at any time exceed Maximum.one-third of the total amount of gold certificates at such time outstanding. And section fifty-one hundred and ninety-three of the Revised Statutes R. S., sec. 5193, p. 1004, repealed.of the United States is hereby repealed.” Approved, March 2, 1911.