SEC. 7. _And be it further enacted_, That, whenever the premium on gold shall fall to or within five per cent., it shall be the duty of the Secretary of the Treasury to give public notice that the outstanding United States notes, or other legal-tender issues of the Government, will thereafter be received at par for customs duties; and the interest on the issues known as three per cent. legal-tender certificates shall cease from and after the date of such notice; and all such legal-tender obligations, when so received, shall not again be uttered, but shall forthwith be cancelled and destroyed. And so much of the Act of February 25, 1862, and of all subsequent Acts, as creates or declares any of the issues of the United States, other than coin, a legal tender, be, and the same is hereby, repealed; such repeal to take effect on and after the first day of January, 1871. SEC. 8. _And be it further enacted_, That all the provisions of existing laws in relation to forms, inscriptions, devices, dies, and paper, and the printing, attestation, sealing, signing, and counterfeiting, as may be applicable, shall apply to the bonds issued under this Act; and a sum not exceeding one per cent. of the amount of bonds issued under this Act is hereby appropriated to pay the expense of preparing and issuing the same and disposing thereof. SEC. 9. _And be it further enacted_, That all Acts or parts of Acts inconsistent with this Act be, and the same are hereby, repealed. Mr. Sumner said:-- MR. PRESIDENT,--I have already during this session introduced a bill providing for the extension of the national banking system and the withdrawal of greenbacks in proportion to the new bank-notes issued,[202] thus preparing the way for specie payments. The more I reflect upon this simple proposition, the more I am satisfied of its value. It promises to be as efficacious as it is unquestionably simple. But it does not pretend to deal with the whole financial problem.