Content of Silver Coins: Hearings Before the Committee on Banking and Currency, United States Senate, Eighty-eighth Congress, Second Session, on S. 2671, to Redefine the Silver Coins. April 1 and 2, 1964, Volumes 22-23
U.S. Government Printing Office, 1964 - 137 pages
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action alloy amount Appropriations authorized banks become believe bill cents Chairman circulation coinage committee concerned Congress continue copper cost course currency demand denominations effect estimated existing face facilities fact Federal Reserve Board fiscal funds give going gold Government half hearings hope House important increase industry interest issued June legislation machines manufacture March market price matter meet melt metal million ounces mint minting monetary value months necessary needs nickels notes Office operation percent period pieces possible present President price of silver problem production proposed purchase quarters question rationing reduce represents request require rise ROBERTSON Roosa sell Senator DOMINICK Senator DOUGLAS shortage silver bullion silver certificates silver coins silver content silver dollars situation standard statement stocks subsidiary supply tion Treasury U.S. SENATOR United users vending Washington West Western
Page 91 - 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 128 - 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.
Page 128 - 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.
Page 57 - ... any silver of the United States in excess of that required to be held as reserves against silver certificates.
Page 128 - The policy of the United States in the purchase of silver will be guided by the following considerations: "The Silver Purchase Act of 1934 declares it 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.
Page 130 - Act), authorized the conversion of not exceeding 350 million standard silver dollars into bullion and its sale, or use for subsidiary silver coinage, and directed purchase of domestic silver for recoinage of a like number of dollars. Under this act...
Page 128 - Act), authorized the President, through the Secretary of the Treasury, upon recommendation of the Chairman of the War Production Board, to sell or lease domestically any silver held or owned by the United States, provided that at all times the Treasury maintained the ownership and the possessions or control within the United States of an amount of silver of a monetary value equal to the face amount of all outstanding silver certificates. The price to be paid for such silver was to be not less than...
Page 129 - ... (0.8924) fine; 3. fixed the coinage ratio of gold and silver as 1 to 15 ; 4. provided for free coinage ; and 5. declared silver dollars (and all other coins authorized) lawful tender.
Page 128 - Under the act, gold certificates owned by the Federal Reserve banks may be redeemed at such times and in such amounts as, in the judgment of the Secretary of the Treasury, are necessary to maintain the equal purchasing power of every kind of currency of the United States. Title III of the act of May 12, 1933...