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The Gold Bill

The Gold Bill image
Parent Issue
Day
8
Month
July
Year
1864
Copyright
Public Domain
OCR Text

An Act to prohibit certain sales oi 2old and foreign exehange. Be it enactedbi the Senate and House J Represent atives of the United States of America in Congress aisembed, That it shall be unlawful to make any contract for the purchase or sale acd delivery of any gold, coin or bullion to je deüvered on any day subsequent to the day of making such contract, or 'or the payment of any sum, either fixe or contingent, in defsult of the deivery of any gold coin or bullion, and the payment in full of' tbc agreed price thereof, on the day on which such contract is made, in United States notes or national currency, and not otherwise; or to make any contract for tho purchase or sale and deüvery of any foreign exchange to be deüvered at any time beyood ten days subsequent to the nnking of such contract ; or for the jayment of any sum, either fixed or contingent, in default of the delivery of any foreign exchange, or upon any other terms than the actual delivery of such foreign exchango within ton dajs 'rom the making of such contract, and the immediate payment in full of the igreed price thereof on the dny of deivery, in United States notes or national currencv ; or to make any contract vvhatever for the sale and delivery of any gold coin or bullion, of which the person making such contract sball not, at tho time of making the same, be in actual poseseion. A.nd it shall be unawful to make any loan of money or currency not being in coin, to be repaid n coin or bulüon, or to make any loan of coin or bullion to be repaid in money or currency other than coin. Sec. 2. And be it further enacfed, That it shall be furlher unlawful for any banker, broker, or other person, to mike any purchase or snle of any gold coin or bullion, or of any foreign exclrange, or any contract for any such Mirchase or sale, afc any other place han the ordinary place of business of either the seller or purchaser, owned or lired and occupied by him individually or by a partnership of which he 8 a member. Sec. 3. And be il furlher enacied, That all contracts made in' violation of this act hall be absolutely void. Sec. 4. And be it furlhtr enncted, That any person who shall viólate any provisionn of this act shall bebeld guil:y of a tnisdemeanor, and on conviction thereof, be fiued in any sum not less than one thousand dollars, nor moro thau ten thouaand dollars, or beimprisoned for n period not lesa than three months nor lon;er than one year, or both, at the discretion of the cour t, and shall likewise be etibjeet to a penalty of one thousand dollars for each offerse. Skc. 5. And be it further enacted, That the penalties imposed by the fourth section of this act may be recovered in action at lavv in any court of record in the United States, or any court or competent jurisdiction, which action mav be brought in the name of the United States by any person who will sue for such penalty, one-half for the use of the United States, and Ibe other. half for the use of the person bringing euch action. And the recovery and satisfaction of a judgment in any such action e hall be a bar to the impoeition of' any fine for tho same offense in any prosecution instituted subse.juent to the recovery of such judgment, but shall not be a bar to the infliction of punishment by imprisonment, as provided by said lourth section. Sec. 6. And be it jurthei tnacUd, That all acts and parta of acts incon sistent with the provisions of this act are hereby repealed. Approved June 17, 1864. It is stated that Secretary Welles recently made the startling discovery that Noah's ark was a double-ender. Possibly this explains bis ionduess for ibat style oí gurboai

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Subjects
Old News
Michigan Argus