Public Law 88-36
The House of Representatives took up the President's request early in 1963, and passed HR 5389 on April 10, 1963, by a vote of 251 to 122. The Senate passed the bill on May 23, by a vote of 68 to 10.
President Kennedy signed the bill into law on June 4, 1963 and also signed an executive order (11110) authorizing the Treasury Secretary to continue printing silver certificates during the transition period. The act, which became Public Law 88-36 (77 Stat. 54), repealed the Silver Purchase Act of 1934 and related laws, repealed a tax on silver transfers, and authorized the Federal Reserve to issue one- and two-dollar bills, in addition to the notes they were already issuing. The Silver Purchase Act had authorized and required the Secretary Treasury to buy silver and issue silver certificates. With its repeal, the President needed to delegate to the Treasury Secretary the President's own authority under the Agricultural Adjustment Act.
Read more about this topic: Executive Order 11110
Famous quotes containing the words public and/or law:
“Most of the folktales dealing with the Indians are lurid and romantic. The story of the Indian lovers who were refused permission to wed and committed suicide is common to many places. Local residents point out cliffs where Indian maidens leaped to their death until it would seem that the first duty of all Indian girls was to jump off cliffs.”
—For the State of Iowa, U.S. public relief program (1935-1943)
“In a democracy—even if it is a so-called democracy like our white-élitist one—the greatest veneration one can show the rule of law is to keep a watch on it, and to reserve the right to judge unjust laws and the subversion of the function of the law by the power of the state. That vigilance is the most important proof of respect for the law.”
—Nadine Gordimer (b. 1923)