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January 24• .1918.
Revise (5)
An:;A't!t to conserve the goid supply of the United States; to ~ermit
the settlement in silver of trade bala~~es adverse to the United States;
to provide silver for subsidiary coihage and for ccrtnnercia1 use; to as'"'
sisv the allies of the United State!J, and :for ether purposes.

l'r l!!NACTED


Sec. l. The Secretary of the Treasury is· hereby autho:-ized :from
time to time to melt or break up and sell as bullion any Standa:..·cl SHv-er
Dolll!!~s now· or· hereafter held in the Treasury of the United States to a
total of 150,000.000 of such dollars on the simultaneous retirement of
silver certificates (if any be outstanding against such Standard Silver
Dollars) at the rate of One Dollar face amount of such Certi!'icates for
each Standard Silver Dollar sold as bullion for any of the purposes of
this Act on terms FtS to price and otherwise to be established from time
to 1~e by the SecretA.ry of ;the Treasury.
Sec,. 2• Upon·the sale as bullion from time to time the provisi-ons of this Act, of any Standard Silver Dollars, the Se~reta.ry of tht:l
Treasury shall inlnediately direct the Director of the Mint to :purchast- an
amount of silver equal to 371-l/4 grains of fine silver in respect of
every standard silver d olla~ so sold, such purchases to be made in accord•
anee with the existing regulations of the Mint at a price not greater than
that ~btained for the sale of such bullion as shall have been sold under
the provisions of Sec-tion One. Such bullion so purchased shall be deliver6d, at the option of the Director of the Mint, at New York, Philadelphia•
Denver, or San Francisco. Silver so sold or so purchased may be sold or re•
sold for any of the purposes of this Act under rules and regulations to be
established by the Secretary of the Treasury.
The net amount of silver
purchaeed shall not, after making allowance for re-sale! at any time exceed
the amount needed to recoin any standard silver dollars sold as bullion
under the provisions of this.Act, and sueh purchases shall continue until
an amount of silve~ shall have been purchased sufficient, after making allowance for resales, tc recoin all Standard Silver Dollars eo sold.
'Ibe Secretary shall


into Standard Silver Dollars the bul•
of this A ct, and may issue silver cerdelivered to the Treasury in amount
equal to the Standard Silver Dollare which may be coined out of said b~l­

lio~ purchased under the provisions
tific~te• against said bullion when

PI\OVIDED, HOVJEVER, that whene'Vel" the Secretary shall have sold the
eilvet' .)lflU.on contents of lo,ooo,OOO sil,el" _-dollars he shall discontinue
further sal•e untU the Dis'~ct4>r of the Mint hils purcmeed or ccmtrncted to
P\*'.eh!l•• an equal aJftOunt ot 8UCh bullion tor purpoaes at e. price
not,·~ -~ee.ed -tbe ftj.oe at which S¥-411 b\ ftt1 sold· by him •

. .. .··1J • . . .

; 'f;



Sec. 3. Silver m11.y be sold as bullion under 'luthority of th:is Act
for the purpose of conserving the gold supply of the United States; of
f"lCilit"l.ti.rig the settlement in silver cf trade balances· adverse to the
United ·st~tes; to provide silver for subsic'.iar.y coin'lge, 1.nd for cormnercial
or to assist the allies of the United States~ The allocation
to the Director of the M:i.nt for subsidiary coinage of any :::ilve:r shall~
for the purposes of thi3 Act, be :tegarded !".Sa sale or re-sale.


See. 4. There is hereby. approprhied f~C'm any funds .in the Treasury
not ethel-wise approp.~:'.ated an amount sufficient to meet all expense in..
cur:fed in C"lrrying ou·~ this Act.