Report of Monetary Commission to Executive Committee of the Indianapolis Monetary Convention of the Boards of Trade, Chambers of Commerce, Commercial Clubs, and Other Similar Commercial Bodies of the United States: Recommending a Complete Currency System
1897 - Currency question - 32 pages
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Report of Monetary Commission to Executive Committee of the Indianapolis ...
No preview available - 2015
adequate amount approval authorized banking association become bonds canceled capital cent circulation coinage Commission Committee Comptroller consider continue contraction convention cost currency debt demand obligations denominations denominations of $1 deposited discretion Division of Issue equal established exceeding exchange expenses fact further gold coin gold standard guaranty fund held holder important increase Indianapolis interest investment Issue and Redemption July kind legal tender legal-tender less liability loans maintained ment minor coins monetary national bank notes necessary needs organized outstanding paid payable payment portion possible present profits proposed act purchase receivable redeem relating rency retired saving Secretary silver bullion silver certificates silver dollars standard standard of value standing STUYVESANT FISH surplus thereof tion transfer Treasury notes United States notes weight
Page 7 - And the United States also solemnly pledges its faith to make provision at the earliest practicable period for the redemption of the United States notes in coin.
Page 5 - January 18, 1837, on which shall be the devices and superscriptions provided by said act ; which coins, together with all silver dollars heretofore coined by the United States, of like weight and fineness, shall be a legal tender, at their nominal value, for all debts and dues, public and private, except where otherwise expressly stipulated in the contract.
Page 19 - And when any of said notes may be redeemed or be received into the treasury under any law, from any source whatever, and shall belong to the United States, they shall not be retired, canceled or destroyed, but they shall be reissued and paid out again and kept in circulation...
Page 5 - And It Is hereby declared to be the policy of the United States to continue the use of both gold and silver as standard money, and to coin both gold and silver into money of equal Intrinsic and exchangeable value...
Page 30 - States, shall (except to the extent permitted by rules and regulations prescribed by the Comptroller of the Currency, with the approval of the Secretary of the Treasury) be subject under this section to a limitation of 15 per centum of such capital and surplus in addition to such 10 per centum of such capital and surplus.
Page 7 - ... shall be received at par in all parts of the United States in payment of taxes, excises, public lands, and all other dues to the United States, except for duties on imports; and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations within the United States, except interest on the public debt, and in redemption of the national currency.
Page 4 - The gold coins of the United States shall be a legal tender in all payments at their nominal value when not below the standard weight and limit of tolerance provided by law for the single piece, and, when reduced in weight below such standard and tolerance, shall be a legal tender at valuation in proportion to their actual weight.
Page 31 - Act have been complied with, such bank or banking association, and all its stockholders, officers, and employees, shall have the same powers and privileges, and shall be subject to the same duties, liabilities, and regulations, in all respects, as shall have been prescribed by the Federal Reserve Act and by the national banking Act for associations originally organized as national banking associations.