If the reader will turn to the subject "Financial Bill" he will find therein referred to the Act of Congress of March 14, 1900, otherwise known as the "Gold Standard Act." This Act further provides as follows:
"Sec. 2. That United States notes, and Treasury notes issued under the Act of July fourteenth, eighteen hundred and ninety, when 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 and certain redemption of such notes as 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 and fifty million dollars in gold coin and bullion, which fund shall be used for such redemption 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 the use of said notes, in accordance with the provisions of section thirty-seven hundred of the Revised Statutes of the United States."
If the Secretary of the Treasury is unable to restore or maintain the reserve fund by the foregoing methods, and the amount of the gold coin and bullion shall fall below $100,000,-000, then he is authorized to restore the same by issuing United States bonds therefor, but to sell the same only in exchange for gold.