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House Joint Resolution 192 -- PUBLIC LAW 73-10
"To assure uniform value to the coins
and currencies of the Unites States,
Whereas the holding of or dealing in gold affect public in
terest, and are therefore subject to proper regulation and
restriction; and
Whereas the existing emergency has disclos
ed that provisions of obligations whic
h purport to give the obligee a right
to require payment in gold or a particular kind of coin or cu
rrency of the United States, or
in an amount in money of the
United States measured thereby, obstruct
the power of the Congress to regulate
the value of the money of the United
States, and are inconsistent with the declared policy of the
Congress to 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,
Now, therefore, be it Resolved by t
he Senate and House of t Representative of
the United States of America in
Congress assembled, that
(a) every provision contained in or made with respect to
any obligation which purports to give the obligee a right to
require payments in gold or a particular kind of coin or cu
rrency, or in an amount in money of the United States
measured thereby, is declared to be against public policy;
and no such provision shall be contained in or made with
respect to any obligation hereafter incurred. Every obligation,
heretofore or hereafter incurred, whether or not any such
provision is contained therein or made
with respect thereto, shall be discharged upon payment, dollar for dollar, in any
coin or currency which at time of payment is legal tender
for public and private debts. Any such provision contained in
any law authorizing obligations to be issued by or under aut
hority of the United States, is herby repealed, but the
repeal of any such provision shall not invalidate any
other provision or authority contained in such law.
(b) As used in this resolution, the term 'obligation' means
any obligation (including every obligation of and to the United
States, excepting currency) payable in
money of the United States; and the term
'coin or currency' means coin or
currency of the United States, including Federal Reserve
notes and circulating notes of Federal Reserve banks and
national banking associations.
Sec. 2 The last sentence of paragraph (1) of subsection (b
) of section 43 of the Act entitled 'An Act to relieve the
existing national economic emergency by increasing agricul
tural purchasing power, to raise revenue for extraordinary
expenses incurred by reason of such emergency, to pr
ovide emergency relief with respect to agricultural
indebtedness, to provide for the orderly liquidation of join
t-stock land banks, and of other purposes;, approved May 12,
1933, is amended to read as follows:
"All coins and currencies of the United Stated (including F
ederal Reserve notes and circulating notes of the Federal
Reserve banks and national banking associations) heretofore or
hereafter coined or issued, shall be legal tender for all
debts, public and private, public charge
s, taxes, duties, and dues, except that
gold coins, when below the standard
weight and limit of tolerance provided by law for the single piece,
shall be legal tender only at valuation in proportion to
their actual weight.'
Approved, June 5, 1933, 4:40
p.m. 31 U.S.C.A. 462, 463
House Joint Resolution 192, 73d Congress, Sess. I, Ch. 48, June 5, 1933 (Public Law No. 10 )
