; and, upon such issue, he is
hereby authorized and required to redeem an equal amount of such
fractional currency, until the whole amount of such fractional
currency outstanding shall be redeemed.

"Sec. 2. That so much of section three thousand five hundred and
twenty-four of the Revised Statutes of the United States as provides
for a charge of one-fifth of one per centum for converting standard
gold bullion into coin is hereby repealed; and hereafter no charge
shall be made for that service.

"Sec. 3. That section five thousand one hundred and seventy-seven
of the Revised Statutes, limiting the aggregate amount of circulating
notes of national banking associations, be, and hereby is, repealed;
and each existing banking association may increase its circulating
notes in accordance with existing law, without respect to said
aggregate limit; and new banking associations may be organized in
accordance with existing law, without respect to said aggregate
limit; and the provisions of law for the withdrawal and redistribution
of national bank currency among the several states and territories
are hereby repealed. And whenever, and so often, as circulating
notes shall be issued to any such banking association, so increasing
its capital or circulating notes, or so newly organized as aforesaid,
it shall be the duty of the Secretary of the Treasury to redeem
the legal tender United States notes in excess only of three hundred
millions of dollars, to the amount of eighty per centum of the sum
of national bank notes so issued to any banking association as
aforesaid, and to continue such redemption as such circulating
notes are issued until there shall be outstanding the sum of three
hundred million dollars of such legal tender United States notes,
and no more. And on and after the first day of January, anno Domini
eighteen hundred and seventy-nine, the Secretary of the Treasury
shall redeem in coin the United States legal tender notes then
outstanding, on their presentation for redemption at the office of
the assistant treasurer of the United States in the city of New
York, in sums of not less than fifty dollars. And to enable the
Secretary of the Treasury to prepare and provide for the redemption
in this act authorized or required, he is authorized to use any
surplus revenues from time to time in the treasury not otherwise
appropriated, and to issue, sell, and dispose of, at not less than
par in coin, either of the descrip