June 20, 1874. Vol. XVIII, p. 85. loan. 17, p. 156, ante, .87. CHAP. CCCXXVIII.-AN ACT MAKING APPROPRIATIONS FOR THE LEG- Be it enacted, &c., Repeal of per- SEC. 4. That the act entitled "An act limiting the appromanent appropri ation for national priation of certain moneys for the preparation, issue, and reissue of certain securities of the United States, and for other 1872. c. 197, v. purposes," approved May twenty-third, eighteen hundred and seventy-two, and all other acts and parts of acts making permanent appropriations for the expenses of the national loan, except the second section of the act approved 1870, c. 256, s. 2, July fourteenth, eighteen hundred and seventy, entitled, v. 16, p. 272, ante, An act to authorize the refunding of the national debt,” are hereby repealed, this repeal to take place on the first Estimates to be day of July next; and hereafter the Secretary of the Treas. ury shall annually submit to Congress detailed estimates of appropriations required for said expenses; p. 82. submitted annu ally. Approved, June 20, 1874. June 23, 1874. Vol. XVIII, p. 245. Judgments, out paid. the Treasury au purpose. CHAP. CCCCLIX.-AN ACT FOR THE CREATION OF A COURT FOR THE Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, * * SEC. 15. That the Secretary of the Treasury is hereby auof what money thorized and required to pay the said respective judgments of said court, out of any such money in the Treasury not Secretary of otherwise appropriated; and for that purpose he is herethorized to sell by authorized when necessary to issue and sell at public bonds for the 'sale, after ten days' notice of the time and place of sale, at not less than par in coin, a sufficient amount of coupon or See act of April registered bonds of the United States, in such form as he 11, 1876, post, p. 147. may prescribe, of denominations of fifty dollars, or some multiple of that sum, redeemable in coin of the present standard value, at the pleasure of the United States after ten years from the date of their issue, and bearing interest payable quarterly in such coin at the rate of five per centum per annum; and upon the payment, from time to time, of the said respective judgments of said court as before pro1873, c. 261, vol. vided, the bonds of the United States mentioned in the act approved March third, eighteen hundred and seventy-three, p. 107. be canceled and entitled "An act for the creation of a court for the adjudication and disposition of certain moneys received into the Treasury under an award made by the tribunal of arbitration constituted by virtue of the first article of the Vol. 17, p. 873. treaty concluded at Washington the eighth of May, anno Domini eighteen hundred and seventy-one, between the United States of America and the Queen of Great Britain," shall be canceled and extinguished to the amount of such Certain bonds to payments; and when all such payments shall have been extinguished. made, any such bonds remaining shall be also canceled and extinguished; and after the payment of the said judgments, and the re-imbursement of the expenses as herein provided, if there shall remain any part of the said money, the same Balance shall be and remain a fund from which Congress may here- payment of judg maining after after authorize the payment of other claims thereon. And bursement of ex the moneys necessary for the payment of the salaries of the tute a fund, &c. judges and other officers authorized by this act, and of the Appropriati on expenses of the said court as hereinbefore mentioned, are expenses. hereby appropriated out of any moneys in the Treasury not otherwise appropriated. * Approved, June 23, 1874. re ments and reim penses to cersti for salaries and CHAP. XV.-AN ACT TO PROVIDE FOR THE RESUMPTION OF SPECIE PAYMENTS. Jan. 14, 1875. Vol. XVIII, p. 296. Issue of silver coins for the re tional currency Be it enacted by the Senate and House of Representatives of** the United States of America in Congress assembled, That the Secretary of the Treasury is hereby authorized and re- demption of frac quired, as rapidly as practicable, to cause to be coined, at authorized. the mints of the United States, silver coins of the denominations of ten, twenty-five, and fifty cents, of standard value, and to issue them in redemption of an equal number and amount of fractional currency of similar denominations, or, at his discretion, he may issue such silver coins through the mints, the sub-treasuries, public depositaries, and post-offices of the United States; and, upon such issue, he is hereby authorized and required to redeem an equal amount of such fractional currency, until the whole amount of such fractional currency outstanding shall be redeemed. conversion of SEC. 2. That so much of section three thousand five hun- Repeal of authority to charge dred and twenty-four of the Revised Statutes of the United a percentage for States as provides for a charge of one-fifth of one per centum bullion into coin. for converting standard gold bullion into coin is hereby ante, p. 116.1 repealed; and hereafter no charge shall be made for that service. Repeal of limita on of aggre circulating notes. [See R. S., 5177, post, p. 194.] visions for with tribution. post, p. 196.] notes in excess of redeemed in a cer crease of nation tion. SEC. 3. That section five thousand one hundred and sevgate amount of enty-seven of the Revised Statutes, limiting the aggregate amount of circulating notes of national banking associations be, and is hereby, repealed; and each existing banking association may increase its circulating notes in accordance with existing law without respect to said aggregate limit; and new banking associations may be organized in accordance with existing law without respect to said aggregate limit; Repeal of pro- and the provisions of law for the withdrawal and redistribudrawal and redis- tion of national bank currency among the several States and [See R. S., 5181, Territories are hereby repealed. And whenever, and so often, as circulating notes shall be issued to any such banking association, so increasing its capital or circulating notes, United States or so newly organized as aforesaid, it shall be the duty of $300,000,000 to be Secretary of the Treasury to redeem the legal-tender United tain ratio to in- States notes in excess only of three hundred million of dolal-bank circula- lars, to the amount of eighty per centum of the sum of national-bank notes so issued to any such banking association as aforesaid and to continue such redemption as such circulating notes are issued until there shall be outstanding the sum of three hundred million dollars of such legal-tender United Redemption of States notes, and no more. And on and after the first day of notes in coin January, anno Domini eighteen hundred and seventy-nine, the Secretary of the Treasury shall redeem, in coin, the United States legal-tender notes then outstanding, on their presentation for redemption at the office of the assistant treasurer of the United States in the city of New York, in sums of not Appropriation. less than fifty dollars. And to enable the Secretary of the Treasury to prepare and provide for the redemption in this act authorized or required, he is authorized to use any surplus revenues, from time to time, in the Treasury not otherSale of bonds wise appropriated, and to issue, sell and dispose of, at not to provide means of redeeming less than par, in coin, either of the descriptions of bonds of the United States described in the act of Congress approved July fourteenth, eighteen hundred and seventy, entitled "An act to authorize the refunding of the national debt," with like qualities, privileges, and exemptions, to the extent necessary to carry this act into full effect, and to use the proceeds thereof for the purposes aforesaid. And all provisions of law inconsistent with the provisions of this act are hereby repealed. United States after January 1, 1879. United States notes. [See 1870, c. 56, v. 16, p. 272, ante, p. 82.1 Approved January 14, 1875. CHAP. CXXX.-AN ACT MAKING APPROPRIATIONS FOR SUNDRY CIVIL March 3, 1875. bonds for the SEC. 11. That the Secretary of the Treasury is hereby au-, Redemption of thorized, at such times as may be necessary, for the purpose sinking-fund. of obtaining bonds for the sinking fund, in compliance with Ante, p. 131 sections three thousand six hundred and ninety-four to three thousand six hundred and ninety-seven, inclusive, of the Revised Statutes of the United States, to give public notice, that he will redeem, in coin, at par, any bonds of the United States, bearing interest at the rate of six per centum, of the kind known as five twenties; and in three months after the date of such public notice, the interest on the bonds so selected and called for payment shall cease. CHAP. CXXXIV.-AN ACT MAKING APPROPRIATIONS FOR THE REPAIR, Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the following sums of money be, and are hereby appropriated, to be paid out of any money in the Treasury not otherwise appropriated, to be expended under the direction of the Secretary of War, for the repair, preservation, and completion of the following public works hereinafter named: March 3,1875. Vol. XVIII, p. 456. James B. Eads struct jettees, and others to con &c., to maintain South Pass of and Gulf of Mex SEC. 4. That James B. Eads, of Saint Louis, Missouri, be, and be is hereby, authorized, with such others as may be associated with him, on the conditions hereinafter mentioned, channel between to construct such permanent and sufficient jettees and such Mississippi Rive auxiliary works as are necessary to create and permanently ico maintain, as hereinafter set forth, a wide and deep channel between the South Pass of the Mississippi River and the Gulf of Mexico, and for that purpose he may construct, in the river, outlet, or pass, and likewise in the Gulf of Mexico, such walls, jettees, dikes, levees, and other structures, & employ such boats, rafts, and appliances, as he may, in the prosecu tion of said work deem necessary: Provided, * * be discharged in SEC.. That the option of discharging the obligations obligations to herein assumed by the United States, either in money or money or bonds. bonds, is expressly reserved; and the Secretary of the Treasury is hereby directed to issue the bonds of the United Ante, p. 82. States, bearing five per centum interest, of the character and description set out in the act entitled "An act to authorize the refunding of the public debt," approved July fourteenth, eighteen hundred and seventy, to said Eads or his legal representatives, in payment at par of the aforesaid warrants of the Secretary of War, unless the Congress of the United States shall have previously provided for the payment of the same by the necessary appropriations of money: ProUnited States vided, That in no case shall the Government of the United States be liable for any losses incurred by said Eads and his associates in the performance of the work herein mentioned, nor shall any payments thereon be made in excess of the sums nor contrary to the terms herein before prescribed. Approved, March 3, 1875.. not liable losses, &c. for March 3, 1875. Vol. XVIII, p. 478. silver coin. CHAP. CXLIII.-AN ACT AUTHORIZING THE COINAGE OF A TWENTY. Be it enacted by the Senate and House of Representatives of Twenty-cent the United States of America in Congress assembled, That 1873, ch. 131, v. there shall be, from time to time, coined at the mints of the 17. p. 424, ante, P. United States, conformably in all respects to the coinage R. S., 3513, ante, act of eighteen hundred and seventy-three, a silver coin of Repealed, post, the denomination of twenty cents, and of the weight of five 88. p. 114. p. 152. Legal tender for what sums. Deviation from grams. SEC. 2. That the twenty-cent piece shall be a legal tender at its nominal value for any amount not exceeding five dollars in any one payment. SEC. 3. That in adjusting the weight of the twenty-cent standard weight. piece, the deviation from the standard weight shall not exceed one and one-half grains; and in weighing a large number of pieces together, when delivered by the coiner to the superintendent and by the superintendent to the depositor the deviation from the standard weight shall not exceed two-hundredths of an ounce in one thousand pieces. Existing laws SEC. 4. That all laws now in force in relation to the coins applicable to twe_ty-cent coin. Of the United States, and the coinage of the same, shall, as far as practicable, have full force and effect in relation to the coin hereby authorized whether the said laws are penal or otherwise, and whether they are for preventing counterfeiting or abasement, for protecting the currency, for regulating the process of coining and the preparation therefor, or for the security of the coin, or for any other purpose. Approved, March 3, 1875. |