Gold Reserve Act of 1934: Hearings Before the Committee on Coinage, Weights and Measures, House of Representatives, Seventy-third Congress, Second Session, on H.R. 6976

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Considers legislation to transfer to U.S. Treasury ownership and possession of Federal Reserve Bank gold stock and to prohibit gold coinage and redemption of currency in gold.
 

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Page 179 - In compliance with clause 3 of rule XIII of the Rules of the House of Representatives, changes in existing law made by the bill, as reported, are shown as follows (existing law proposed to be omitted is enclosed...
Page 88 - ... the secretary of the treasury ; and the president of the United States...
Page 197 - Treasurer otherwise than for redemption may be exchanged for gold out of the redemption fund hereinafter provided and returned to the reserve bank through which they were originally issued, or they may be returned to such bank for the credit of the United States.
Page 201 - The commission may elect one of its members to be president, and may employ a chief examiner, a secretary, and such other officers, clerks and examiners as it may deem necessary or proper to carry out the purposes of this act, and such employees shall hold office during the pleasure of the commission.
Page 184 - By proclamation to fix the weight of the gold 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 gold dollar at such amounts as he finds necessary from his investigation to stabilize domestic prices or to protect the foreign commerce against the adverse effect of depreciated foreign currencies...
Page 180 - Federal reserve notes by depositing, with the Federal reserve agent, its Federal reserve notes, gold, gold certificates, or lawful money of the United States, Federal reserve notes so deposited shall not be reissued, except upon compliance with the conditions of an original issue. The Federal reserve agent shall hold such gold, gold certificates, or lawful money available exclusively for exchange for the outstanding Federal reserve notes when offered by the reserve bank of which he is a director.
Page 184 - The principal and interest thereof shall be payable in United States gold coin of the present standard of value...
Page 169 - Be it enacted by the -Senate and House of Representatives of the United States of America in Congress assembled, That the short title of this Act shall be the
Page 170 - The board shall have the right, acting through the Federal reserve agent, to grant, in whole or in part, or to reject entirely the application of any Federal reserve bank for Federal reserve notes...
Page 182 - Treasury is authorized and directed to purchase silver, at home or abroad, for present or future delivery with any direct obligations, coin, or currency of the United States, authorized by law, or with any funds in the Treasury not otherwise appropriated, at such rates, at such times, and upon such terms and conditions as he may deem reasonable and most advantageous to the public interest...

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