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Board of Governors of the Federal Reserve System
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Federal Reserve Board of Governors

Federal Reserve Act


Section 26. [Repealed]

[Section 26 authorized the secretary of the Treasury to maintain parity of all forms of money and to strengthen the gold reserve by borrowing gold on security of United States bonds or by issuing gold notes for one year. The authority to issue the bonds was repealed by section 10 of the act of March 18, 1968 (82 Stat. 51); therefore, in the recodification of title 31 (act of Sept. 13, 1982, 96 Stat. 877, 1072), section 26 of the Federal Reserve Act, which had been partly incorporated in 31 USC 409, was repealed as obsolete.]

Last update: May 23, 2013