A bill to amend the Par Value Modification Act, and for other purposes.

Summary

Authorizes and directs the Secretary of the Treasury to take steps necessary to establish a new par value of the dollar of $1 equals 0.828948 Special Drawing Right or, the equivalent in terms of gold, of forty-two and two-ninths dollars per fine troy ounce of gold. Provides for the repeal of those provisions in the Gold Reserve Act relating to the title and acquisition of gold. States that no provision of any law in effect on the date of enactment of this Act, and no rule, regulation, or order under authority of any such law, may be construed to prohibit any person from purchasing, holding, selling, or otherwise dealing with gold. States that this Act shall take effect when the President finds and reports to the Congress that international monetary reform shall have proceeded to the point where elimination of regulations on private ownership of gold will not adversely affect the United States' international monetary position.

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Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 22 September 1973

  ViewDownloadOpen at official source

• Public Law

  summary · EN · 21 September 1973

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• Introduced in House

  summary · EN · 12 April 1973

  Open at official source

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