Content of Silver Coins, Hearings Before ...,88-2 on S. 2671 ..., April 1, 2, 1964

Front Cover
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Common terms and phrases

Popular passages

Page 108 - ... the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such ratio as may be provided by law.
Page 109 - 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, such equality to be secured through international agreement, or by such safeguards of legislation as will insure the maintenance of the parity in value of the coins of the two metals...
Page 109 - That the dollar consisting of twenty-five and eight-tenths grains of gold nine-tenths fine, as established by section thirty-five hundred and eleven of the Revised Statutes of the United States, shall be the standard unit of value, and all forms of money issued or coined by the United States shall be maintained at a parity of value with this standard, and it shall be the duty of the Secretary of the Treasury to maintain such parity.
Page 73 - Silver certificates shall be exchangeable on demand at the Treasury of the United States for silver dollars or, at the option of the Secretary of the Treasury, at such places as he may designate, for silver bullion of a monetary value equal to the face amount of the certificates.
Page 109 - That nothing contained in this act shall be construed to affect the legaltender quality as now provided by law of the silver dollar, or of any other money coined or issued by the United States.
Page 109 - All coins and currencies of the United States (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations) heretofore or hereafter coined or issued shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues...
Page 109 - April 1933, the effect of which was temporarily to take the United States off the gold standard. Gold coin, gold bullion, and gold certificates were required to be surrendered to the Federal Reserve banks and strict control over the export of gold was maintained by the Treasury. Title III of the act of May 12, 1933...
Page 109 - Every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at the time of payment is legal tender for public and private debts.
Page 109 - 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, such equality to be secured through international agreement, or by such safeguards of legislation as will insure the maintenance of the parity in value of the coins of the two metals, and the equal power of every dollar at all times in the markets and in the payment of debts.
Page 110 - July 31, 1946, authorized the Secretary of the Treasury, under such terms as he considers advisable, to sell or lease for manufacturing uses any silver held or owned by the United States with the same provisions as to ownership and possession or control as noted above under the act of July 12, 1943 at a price of not less than 90.5 cents per fine ounce : on the day that this act became law the Secretary of the Treasury announced that sales would be made at a price of 91 cents per fine ounce.

Bibliographic information