46 FIFTY-SIXTH CONGRESS. Sess. I; Ch. 41. l 1900. apart in the Treasury a reserve fund of l0 illion dollars in gold coin and bullion, which fund shall be used for such -h¤w maintained. redempfion purposes only, and whenever and as often as any of said ' gotes s all pelpedreemed from. said fnind it ·shall bel the éiuty of the ecretary o the easury to use said ’ notes so re eeme to restore and maintain such reserve fund in the manner following, to wit: First, by exphangingthe notes so redeemed fer any gold coin in the general fund of thei reasury; second, `byaccepting deposits of Igold coin at the,Treasury or at any subtreasury in exc ange fo1' the mted States notes se_redeemed;_ third, by procuring gold coin by the use of said n0tes,,1n accordance with the provisions of section thirty-seven hun- .by ima issue. dred `of the Revised Statutes of the UnitedStates. If the Secretary ` of the '.l%rea§ug·y ii unable to restoiie aind maiingain the gold coin lin the reserve un U y`t e ore oing niet o s, an the amount of suc ol _ coin and bullion in said gmd shall at any time·fall below one hundred million dollars, then it shall be his duty to restore the same `ti6`the maxiiiii1`iii”s"`a1m of gne hpnnpmgnd fifty million gollars lgyborrowing
- money on the cre if 0 the nite States an for at e_. debt thus
_ipcurred to issue and sell coupon or registei·ed bends of the United States, in such form as he may prescr1be, IH denommations of fifty dollars te; any multiple thereof, bearing iulterest at the rate olf lnotggzceetding ree per cen_ um per annum aya e quarter y suc on to e payableiat the pleasure of the Unlited . States after hue year from the eil.? Ei li§i§fS§EEz 3é§.‘l.(i§.li°V*3.’iy3bl.°’(l"£l-.“i§*§“l i“d i“l‘“’”°“al“ gm e · , u n ex mp _ rom e pay- ment of » all taxes or duties of the United States, as well as from taxa-
till? $.i‘2Z·f‘l1§’3J"L3’%5"t‘Ql`$;i..§E,“iE’I?““i3i‘i1“l’.i’”i§’°3l€“lh»§”i”'; mi
_ g up in· 1V 0_ a 0 sa1 on ssa rs ecovere Qnto the general fund of the Treasury and then exchanged, in the man- Jner hereinbefore provided, for an equal amount of the notes redeemed and held for exc ange, and the Secretary of the Treasury may, inhis discretion, use said notesfin exchange for gold, or to purchase or redeem any bonds of the United States, or for any other awful pur- . pose the public interests may require, except that they shall not be · Redeemed notes m usedto meet deficiencies in the current revenues. That United States b° ’e‘”“°d‘ notes when redeemed inaceordance with the provisions of this section shall be reissued, but shall be held i11 the reser@und until exchanged Limit reserve and. for golckiag hereinhprovidledli andd the giold coiril agd bullion in the reserve n toget er wit the re eeme notes e " for use as proigidegil ing thi3’s§etion,1ehalldatHno time exceed the maximum sum of one un re an y mi ion dollars_. ‘ m§·§ggl{‘¤g%¥<§‘uag1{yg; SEO. 3. That nothing cpntained in this Act shall be construed to enema. a ec e e - n er ua as now rovi e y awo e S1 ver o - fftthlgaltedqhty p ddbl fth l dl_ · lar, or of any other money coined or issuedby the United States. augiygggs tigiwgsggg Sec. 4. That there be established in the Treasury,Department, as a mum. P part of th; office of the Treaiuigr of the ignited States, givisions to be designate and known as the ivision 0 issue an the division of -L<1unes,em redemption, to which shall be assigned, respectively, under such regulationstas tlietSee1;neta311;y of the Txéeasulry may apprgvei ailgneeprdsapd = accoun s re a ing 0 e 1ssue an re emp ron o D1 e ssno s ‘ . gold certiiicates, silver certificates, and currency certificates. .‘§Therd shall be transferred from the accounts of the general fund of the Treasury of the United States, and taken upx on the books of said divisions, respectiyely, accounts relating: to the reserve fund for the redemption 0 Unite States notes and reasury notes, the gold com held against outstanding gold certificates, the United States notes held against outstanding currency certificates, and the silver dollars held against outstanding silver certificates, and each of the funds represented by these accounts shall be used for the redemption of the notes
