Public law 31 U.S.

Code 5118 - Gold clauses and consent to sue

(a) In this section
(1) !old clause" #eans a $%o&ision in o% %elated to an obli!ation alle!in! to !i&e the
obli!ee a %i!ht to %e'ui%e $a(#ent in
()) !old*
(+) a $a%ticula% United States coin o% cu%%enc(* o%
(C) United States #one( #easu%ed in !old o% a $a%ticula% United States coin o% cu%%enc(.
(,) $ublic debt obli!ation" #eans a do#estic obli!ation issued o% !ua%anteed b( the
United States Go&e%n#ent to %e$a( #one( o% inte%est.
(b) -he United States Go&e%n#ent #a( not $a( out an( !old coin. ) $e%son law.ull(
holdin! United States coins and cu%%enc( #a( $%esent the coins and cu%%enc( to the
Sec%eta%( o. the -%easu%( .o% e/chan!e (dolla% .o% dolla%) .o% othe% United States coins
and cu%%enc( (othe% than !old and sil&e% coins) that #a( be law.ull( held. -he Sec%eta%(
shall #a0e the e/chan!e unde% %e!ulations $%esc%ibed b( the Sec%eta%(.
(c)
(1) -he Go&e%n#ent withd%aws its consent !i&en to an(one to asse%t a!ainst the
Go&e%n#ent1 its a!encies1 o% its o..ice%s1 e#$lo(ees1 o% a!ents1 a clai#
()) on a !old clause $ublic debt obli!ation o% inte%est on the obli!ation*
(+) .o% United States coins o% cu%%enc(* o%
(C) a%isin! out o. the su%%ende%1 %e'uisition1 sei2u%e1 o% ac'uisition o. United States coins
o% cu%%enc(1 !old1 o% sil&e% in&ol&in! the e..ect o% &alidit( o. a chan!e in the #etallic
content o. the dolla% o% in a %e!ulation about the &alue o. #one(.
(,) Pa%a!%a$h (1) o. this subsection does not a$$l( to a $%oceedin! in which no clai# is
#ade .o% $a(#ent o% c%edit in an a#ount !%eate% than the .ace o% no#inal &alue in dolla%s
o. $ublic debt obli!ations o% United States coins o% cu%%enc( in&ol&ed in the $%oceedin!.
(3) 3/ce$t when consent is not withd%awn unde% this subsection1 an a#ount a$$%o$%iated
.o% $a(#ent on $ublic debt obli!ations and .o% United States coins and cu%%enc( #a( be
e/$ended onl( dolla% .o% dolla%.
(d)
(1) In this subsection1 obli!ation" #eans an( obli!ation (e/ce$t United States cu%%enc()
$a(able in United States #one(.
(,) )n obli!ation issued containin! a !old clause o% !o&e%ned b( a !old clause is
discha%!ed on $a(#ent (dolla% .o% dolla%) in United States coin o% cu%%enc( that is le!al
tende% at the ti#e o. $a(#ent. -his $a%a!%a$h does not a$$l( to an obli!ation issued a.te%
4ctobe% ,51 1655.