3402 PROCLAMATIONS, 1934. separate fund in the name of the Virgin Islands to be used and. ex- pended for the benefit of agriculture and/or paid as rental or benefit payments in connection with the reduction in the acreage or reduction in the production for market, or both, of sugar beets and/or sugarcane, and/or used and expended for expansion of markets and for removal of surplus agricultural products in the Virgin Islands, as the Secretary of Agriculture, with the approval of the President, shall direct. IN 'WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the United States to be affixed. DONE at the City of Washington this 30" day of June, in the year of our Lord nineteen hundred and thirty-four, and [SEAL] of the Independence of the United Stutes of America the one hundred and fifth-eighth. By the Pre8ident: CORDELL HULL Secretary oj State. FRANKLIN D ROOSEVELT [Xo. 2091] By THE PUESIDENT OF TIn: U~ITED STATES OF AMERICA A PROCLAMATION Coinageofsil"'er. WHEREAS, by Paragraph (2) of Section 43, Title III, of the Act of Vol. 41 ' , pp . 52, 3 ,,2 . Congress approved May 12 19·.J (Publl'c No 10) as amended by , , . J<.J ., the Gold Reserve Act of 1934, the President is authorized "By proclamation to fix the weight of the ~old dollar in grains nine tenths fine and also to fix the weight of the sIlver dollar in grains nine tenths fine at a definite fixed ratio in relation to the ~old dollar at such amounts as he finds necessary from his investIgation to stabilize domestic J>rices or to protect the foreign commerce against the adverse effect of depreciated foreign currencies, and to provide for the un- limited coinage of such gold and silver at the ratio so fixed,
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and "The President, in addition to the authority to provide for the unlimited coinage of silver at the ratio so fixed, under such terms and conditions as he may prescribe, is further authorized to cause to be issued and delivered to the tenderer of silver for coinage, silver certificates in lieu of the standard silver dollars to which the tenderer would be entitled and in an amount in dollars equal to the number of Certificates against coined standard silver dollars that the tenderer of such silver for coin- silver reserve. d d age would receive in standar silver ollars"; and" The President is further authorized to issue silver certificates in such denominations as he may prescribe against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstand- ing silver certificates, and to coin standard silver dollars or subsidiary currency for the redemption of such silver certificates"; and ProvisIons In Silver WHEREAS the Silver Purchase Act of 1934 approved June 19 Purchase Act. 'd '. S. d7. f'll ' VoI. 48, pp. 1178, L79. 1934, provl es In ectIOns 2,5, an ,Inpart,as 0 ows: "SEC. 2 . It is hereby declared to be the policy of the United States that the proportion of silver to gold in the monetary stocks of the United States should be increased, with the ultimate objective of having and maintaining, one fourth of the monetary value of such stocks in silver." "SEC. 5. The Secretary of the Treasury is authorized and directed to issue silver certificates in such denominations as he may from time to time prescribe in a face amount not less than the cost of all silver purchased under the authority of section 3, and such certificates shall
