ACT OF MARCH 14, 1900



     The standard unit of value of the "dollar" is defined by law

in the Act of March 14, 1900



March 14, 1900      Chap. 41--An Act To Define and fix the

                    standard value, to maintain the parity of all

                    forms of money issued or coined by the United

                    States, to refund the public debt, and for

                    other purposes.



Standard of         Be it enacted by the Senate and House of

value fixed.        Representatives of the United States of

R.S., sec.          America in Congress assembled, That the 

3511, p. 696.       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 Treasury to maintain such

                    parity.



United States       Section 2.  That United States notes, and 

notes redeemable    Treasury notes issued under the Act of July

in gold.  Vol.      fourteenth, eighteen hundred and ninety,

26, p. 289.         which presented to the Treasury for

                    redemption, shall be redeemed in gold coin of

                    the standard fixed in the first section of

                    this Act, and in order to secure the prompt

Redemption          and certain redemption of such notes as

Fund.               herein provided it shall be the duty of the

                    Secretary of the Treasury to set apart in the

                    Treasury a reserve fund of one hundred fifty

                    million dollars in gold coin and bullion,

--how               which fund shall e used for such redemption

maintained          purposes only, and whenever and as often as

                    any of said notes shall be redeemed from said

                    fund it shall be the duty of the Secretary of

                    the Treasury to use said notes so redeemed to

                    restore and maintain such reserve fund in the

                    manner following, to wit: First, by

                    exchanging the notes so redeemed for any gold

                    coin in the general fund of the Treasury;

                    second, by accepting deposits of gold coin at

                    the Treasury or at any sub-treasury in

                    exchange for the United states notes so

                    redeemed; third, by procuring gold coin by

--by bond           the use of said notes, in accordance with the

issue.              provisions of section thirty-seven hundred of

                    the Revised Statutes of the United States.