Page:United States Statutes at Large Volume 31.djvu/99

 FIFTY-SIXTH CONGRESS. Sess. I. C11. 41. 1900. 47 and certificates `for which they are respectively pledged, and. shall be used for no other purpose, the same being held as trust funds. l Sec. 5. That it shall be the duty of the Secretary of the Treasury, Cancellation ci as fast as standard silver dollars are coined under the provisions of ·°_{~?§§§*uly“¤I§t'§§’;?,$,§i the Acts of `July fourteenth, eighteen hundred and ninety, and June V"d°““”°°‘”°d»°*°· thirteenth, eighteen hundred and ninety-eight, from bullion purchased under the Act of July fourteenth, eighteen hundred and ninety, to V¤l·26,P-289· retire and cancel an equal amount of Treasury notes whenever received into the Treasury, either by exchange in accordance with the provisions of this Act or in the ordinary course of business, and upon the yslllver certificates lv _ cancellation of Treasury notes silver certificates shall be issued against Ss e' thié silver <%_o1llarshsoé:oined. · h T l h d . d d E0. 6. at the ecreta of the reasur is hereb authorize an . G°l °°”“l°¤%°S '°° directed to receive de osilg of old coin vliith the 'lllreasurer or any i;(iii.d€p°Sit$ of assistant treasurer of tllle United States in sums of not less than twenty ‘ dollars, and to issue gold certiiicates therefor in denominations of not less than twenty dollars, 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 urlpose. Such certificates shall be receivable for customs, taxes, andp al public dues, and when so received may be reissued, and when held by any national bankin association may be counted as a part of its lawful reserve: Providei That whenever and gSM;>g>li- { · so long as the gold coin held in the reserve fund in the Treasury for tnoniiydliiiug w` the redemption of United States notes and Treasury notes shall fall and remain below one hundred million dollars the authority to issue certificates as herein provided shall be suspended: Andprovidedfurg t/ver, That whenever and so long as the aggre ate amount of United States notes and silver certificates in the genera? 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 ·—de¤¤m1¤au¤¤S. 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 of ten thousand dollars, ayable to order. And section fifty-one hundred and R.S.,sec.5193p.1004,. ninety-three of the Revised Statutes of the United States is hereby ‘°p€“1"dj “ re ealed.. · {Sec. 7. That hereafter silver certificates shall be issued only of _ Denominations, Sildenominations of ten dollars and under, except that not exceeding in `°r°°mH°'"€S' ‘ the aggregate ten per centum of the total volume of said certificates, in the discretion of the Secretary of the Treasury, may be issued in denominations of twenty dollars, fifty dollars, and one hundred dollars; and silver certificates of higher denomination than ten dollars, except S as herein provided, shall, whenever received at the Treasury or redeemed, be retired and canceled, and certificates of denominations of ten dollars or less shall. be substituted therefor, and after such substitution, in whole or in part, a like volume of United States notes of less denomination than ten dollars shall from time to time be retired and canceled, and notes of denominations of ten dollars and upward i shall be reissued in substitution therefor, with like qualities and restrictions as those retired and canceled. Sec. 8. That the Secretary of the Treasury is hereby authorized to silver bullion puruse, at his discretion, any silver bullion in the Treasury of the United §E§‘§‘§‘.l,‘}’Q§i§‘Q£l§$_‘§§$§l States purchased under the Act of July fourteenth, eighteen hundred §§Q§,({*:g§';%,;;§f°* and ninety, for coinage into such denominations of subsidiary silver ` coin as may be necessary to meet the public requirements for such coin: Provided, That the amount of subsidiary silver coin outstanding {?r<mis¤.f d shall not at any time exceed in the aggregate one hundred `llions of  ° Omm ` dollars. Vllhenever any silver bullion purchased under tlgie Act of $41-_