or applicants; and that there is hereby appropriated $10,000, or so much thereof as may be necessary, for that purpose, and that the same be available from and after the passage of this act.

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ACT OF AUGUST 4, 1886. - An act making appropriations for sundry civil expenses of the Government for the fiscal year ending June 30th, 1887, and for other purposes.

[24 Statutes at Large, p. 222.]

Be it enacted, etc., * * * And the Secretary of the Treasury is hereby authorized and required to issue silver-certificates in denominations of one, two, and five dollars, and the silver-certificates herein authorized shall be receivable, redeemable, and payable in like manner and for like purposes as is provided for silver-certificates by the act of February 28th, 1878, entitled "An act to authorize the coinage of the standard silver dollar, and to restore its legal-tender character," and denominations of one, two, and five dollars may be issued in lieu of silver-certificates of larger denominations in the Treasury or in exchange therefor upon presentation by the holders and to that extent said certificates of larger denominations shall be canceled and destroyed.

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TRANSPORTATION OF SILVER COIN: For transportation of silver coin, including fractional silver coin, by registered mail or otherwise, $75,000; and in expending this sum the Secretary of the Treasury is authorized and directed to transport from the Treasury or subtreasuries, free of charge, silver coin when requested to do so: Provided, That an equal amount of coin or currency shall have been deposited in the Treasury or such subtreasuries by the applicant or applicants. And the Secretary of the Treasury shall report to Congress the cost arising under this appropriation. * *

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[Similar provisions are contained in succeeding Sundry Civil Appropriation laws.]

ACT OF MARCH 3, 1887.—- An act to amend sections 5191 and 5192 of the revised statutes of the United States, and for other purposes.

[24 Statutes at Large, p. 559.]

Be it enacted, etc., That whenever three-fourths in number of the national banks located in any city of the United States having a population of 50,000 people shall make application to the Comptroller of the Currency, in writing, asking that the name of the city in which such banks are located shall be added to the cities named in sections 5191 and 5192 of the Revised Statutes, the Comptroller shall have authority to grant such request, and every bank located in such city shall at all times thereafter have on hand, in lawful money of the United States, an amount equal to at least twenty-five per centum of its deposits, as provided in sections 5191 and 5195 of the Revised Statutes.

SEC. 2. That whenever three-fourths in number of the national banks located in any city of the United States having a population of 200,000 people shall make application to the Comptroller of the Currency, in writing, asking that such city may be a central reserve city, like the city of New York, in which one-half of the lawful-money reserve of the national banks located in other reserve cities may be deposited, as provided in section 5195

of the Revised Statutes, the Comptroller shall have authority, with the approval of the Secretary of the Treasury, to grant such request, and every bank located in such city shall at all times thereafter have on hand, in lawful money of the United States, twenty-five per centum of its deposits, as provided in section 5191 of the Revised Statutes. "Act

SEC. 3. That section 3 of the act of January 14, 1875, entitled an to provide for the resumption of specie payments," be, and the same is, hereby, amended by adding after the words "New York" the words "and the city of San Francisco, California,"

ACT OF MARCH 3, 1887.- An act for the retirement and recoinage of the trade

dollar.

[24 Statutes at Large, p. 634.]

Be it enacted etc., That for a period of six months after the passage of this act, United States trade-dollars, if not defaced, mutilated or stamped, shall be received at the office of the Treasurer, or any assistant treasurer of the United States, in exchange for a like amount, dollar for dollar, of standard silver dollars, or of subsidiary coins of the United States.

SEC. 2. That the trade-dollars received by, paid to, or deposited with the Treasurer or any assistant treasurer or national depositary of the United States shall not be paid out or in any other manner issued, but, at the expense of the United States, shall be transmitted to the coinage mints and recoined into standard silver dollars or subsidiary coin, at the discretion of the Secretary of the Treasury: Provided, that the trade-dollars recoined under this act shall not be counted as part of the silver bullion required to be purchased and coined into standard dollars as required by the act of February 28, 1878.

SEC. 3. That all laws and parts of laws authorizing the coinage and issuance of United States trade-dollars are hereby repealed.

[Received by the President, February 19, 1887. Became a law without his signature on March 3, 1887.]

ACT OF MARCH 2, 1889,- An act making appropriations for sundry civil expenses of the Government for the fiscal year ending June 10, 1890, and for other expenses.

[25 Statutes at Large, p. 955.]

That hereafter it shall not be lawful to use any portion of the so-called "silver-profit fund" or of the appropriation for "storage of silver-transportation" for the purpose of paying the expenses of the transportation of standard silver dollars from the mints or the subtreasuries to the Treasury at Washington, District of Columbia.

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ACT OF JULY 14, 1890- An act directing the purchase of silver bullion and the issue of Treasury notes thereon, and for other purposes.

[26 Statutes at Large, p. 289.]

Be it enacted etc., That the Secretary of the Treasury is hereby directed to purchase, from time to time, silver bullion to the aggregate amount of four million five hundred thousand ounces, or so much thereof as may be

offered in each month, at the market price thereof, not exceeding one dollar for three hundred and seventy-one and twenty-five hundredths grains of pure silver.

And to issue in payment of such purchases of silver bullion Treasury notes of the United States to be prepared by the Secretary of the Treasury, in such form and of such denominations, not less than one dollar nor more than one thousand dollars, as he may prescribe, and a sum sufficient to carry into effect the provisions of this act is hereby appropriated out of any money in the Treasury not otherwise appropriated.

SEC. 2. That the Treasury notes issued in accordance with the provisions of this act shall be redeemable on demand, in coin, at the Treasury of the United States, or at the office of any assistant treasurer of the United States, and when so redeemed may be reissued.

But no greater or less amount of such notes shall be outstanding at any time than the cost of the silver bullion and the standard silver dollars coined therefrom, then held in the Treasury purchased by such notes.

And such Treasury notes shall be a legal tender in payment of all debts, public and private, except where otherwise expressly stipulated in the contract, and shall be receivable for customs, taxes, and all public dues, and when so received may be reissued.

And such notes, when held by any national banking association, may be counted as a part of its lawful reserve.

That upon demand of the holder of any of the Treasury notes herein provided for the Secretary of the Treasury shall, under such regulations as he may prescribe, redeem such notes in gold or silver coin, at his discretion.

It being 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.

SEC. 3. That the Secretary of the Treasury shall each month coin two million ounces of the silver bullion purchased under the provisions of this act into standard silver dollars until the first day of July, 1891, and after that time he shall coin of the silver bullion purchased under the provisions of this act as much as may be necessary to provide for the redemption of the Treasury notes herein provided for, and any gain or seigniorage arising from such coinage shall be accounted for and paid into the Treasury.

SEC. 4. That the silver bullion purchased under the provisions of this act shall be subject to the requirements of existing law and the regulations of the mint service governing the methods of determining the amount of pure silver contained, and the amount of charges or deductions, if any, to be made.

SEC. 5. That so much of the act of February 28, 1878, entitled "An act to authorize the coinage of the standard silver dollar and to restore its legal tender character," as requires the monthly purchase and coinage of the same into silver dollars of not less than two million dollars nor more than four million dollars' worth of silver bullion, is hereby repealed.

SEC. 6. That upon the passage of this act the balances standing with the Treasurer of the United States to the respective credits of national banks for deposits made to redeem the circulating notes of such banks, and all deposits thereafter received for like purpose, shall be covered into the Treasury as a miscellaneous receipt, and the Treasury of the United States shall redeem from the general cash in the Treasury the circulating notes of said banks which may come into his possession subject to redemption.

And upon the certificate of the Comptroller of the Currency that such notes

have been received by him and that they have been destroyed and that no new notes will be issued in their place, reimbursement of their amount shall be made to the Treasurer, under such regulations as the Secretary of the Treasury may prescribe, from an appropriation hereby created, to be known as National bank notes: Redemption account,'

But the provisions of this act shall not apply to the deposits received under section 3 of the act of June 20th, 1874, requiring every National bank to keep in lawful money with the Treasurer of the United States a sum equal to five per centum of its circulation, to be held and used for the redemption of its circulating notes.

And the balance remaining of the deposits so covered shall, at the close of each month, be reported on the monthly public debt statement as debt of the United States bearing no interest.

SEC. 7. That this act shall take effect thirty days from and after its passage.

ACT OF AUGUST 30, 1890 —An act making appropriations for sundry civil expenses of the Government for the fiscal year ending June 30, 1891, and for other purposes.

[26 Statutes at Large, p. 371.]

*** [Appropriation for the Bureau of Engraving and Printing.] Provided, That no portion of this sum shall be expended for printing United States notes of larger denomination than those canceled or retired. *** [Similar provisions have been contained in subsequent appropriation acts.]

ACT OF SEPTEMBER 26, 1890- An act to discontinue the coinage of the three-dollar and one-dollar gold pieces and three-cent nickel piece.

[26 Statutes at Large, p. 485.]

Be it enacted, etc., That from and after the passage of this act the coinage of the three-dollar gold piece, the one-dollar gold piece, and the three-cent nickel piece be, and the same is hereby, prohibited, and the pieces named shall not be struck or issued by the Mint of the United States.

SEC. 2. That as fast as the said coins shall be paid into the Treasury of the United States they shall be withdrawn from circulation and be recoined into other denominations of coins.

SEC. 3. That all laws and parts of laws in conflict with this act are hereby repealed.

ACT OF MARCH 3, 1891- An act making appropriations for sundry civil expenses of the Government for the fiscal year ending June 30, 1892, and for other purposes.

[26 Statutes at Large, p. 948.]

*** For recoinage of the uncurrent fractional silver coins abraded below the limit of tolerance in the Treasury, to be expended under the direction of the Secretary of the Treasury, $150,000: Provided, That the Secretary of the Treasury shall, as soon as practicable, coin into standard silver dollars the trade-dollar bullion and trade dollars now in the Treasury, the expense thereof to be charged to the silver profit fund. ***

ACT OF NOVEMBER 1, 1893

An act to repeal a part of an act approved July 14th, 1890, entitled "An Act directing the purchase of silver bullion and the issue of Treasury notes thereon, and for other purposes."

[28 Statutes at Large, p. 4.]

Be it enacted, etc., That so much of the act approved July 14th, 1890, entitled "an act directing the purchase of silver bullion and issue of Treasury notes thereon, and for other purposes," as directs the Secretary of the Treasury to purchase from time to time silver bullion to the aggregate amount of 4,500,000 ounces, or so much thereof as may be offered in each month at the market price thereof, not exceeding one dollar for three hundred and seventy-one and twenty-five one-hundredths grains of pure silver, and to issue in payment for such purchases Treasury notes of the United States, be, and the same is hereby repealed. 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, and the equal power of every dollar at all times in the markets and in the payment of debts. And it is hereby further declared that the efforts of the Government should be steadily directed to the establishment of such a safe system of bimetallism as will maintain at all times the equal power of every dollar coined or issued by the United States, in the markets and in the payment of debts.