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Introduced in Senate ( 05/10/2004 )
[Congressional Bills 108th Congress] [From the U.S. Government Printing Office] [S. 2395 Introduced in Senate (IS)] 108th CONGRESS 2d Session S. 2395 To require the Secretary of the Treasury to mint coins in commemoration of the centenary of the bestowal of the Nobel Peace Prize on President Theodore Roosevelt, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 10, 2004 Mr. Conrad introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To require the Secretary of the Treasury to mint coins in commemoration of the centenary of the bestowal of the Nobel Peace Prize on President Theodore Roosevelt, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Theodore Roosevelt Commemorative Coin Act''. SEC. 2. FINDINGS. The Congress finds that-- (1) Theodore Roosevelt, one of America's greatest presidents, was born on October 27, 1858, in New York City, New York; (2) at the young age of 23, Theodore Roosevelt was elected to the first of 3 terms as a representative in the New York State Assembly (1882-1884); (3) from 1895 to 1897, Theodore Roosevelt served as Commissioner of the New York City Police Department; (4) while serving as Assistant Secretary of the Navy under President William McKinley (1897-1898), Theodore Roosevelt organized the First United States Volunteer Cavalry Regiment, popularly known as the ``Rough Riders'', and then served as Colonel of this regiment during the Spanish-American War; (5) from 1898 to 1900, Theodore Roosevelt served as Governor of New York; (6) in 1900, with the election of President McKinley, Theodore Roosevelt was elected as the 25th Vice-President of the United States; (7) becoming the 26th President of the United States the following year, Theodore Roosevelt took a very active role in foreign affairs, establishing the United States as a new world power, and instituted broad reforms, at home, particularly with respect to labor, monopolies, and conservation, until the end of his presidency in 1909; (8) Theodore Roosevelt's commitment to conservation stemmed from his experiences as a rancher in the badlands of North Dakota from 1883 to 1886 and earned him the title of the ``Conservationist President'' for his efforts in establishing 51 Bird Reserves, 4 Game Preserves, 150 National Forests, 5 National Parks, and 18 National Monuments, totalling nearly 230 million acres of land placed under public protection during his presidency; (9) on January 16, 2001, Theodore Roosevelt was posthumously awarded the Congressional Medal of Honor for leading a charge up the San Juan Heights in Cuba during the Spanish-American War, shortly before the war ended, thereby becoming the first President of the United States to be awarded the Congressional Medal of Honor; and (10) 2006 will mark the 100th anniversary of Theodore Roosevelt receiving the Nobel Peace Prize, the first citizen of the United States to receive such prize, for drawing up the 1905 peace treaty ending the Russo-Japanese War. SEC. 3. COIN SPECIFICATIONS. (a) Denominations.--The Secretary of the Treasury (hereinafter in this Act referred to as the ``Secretary'') shall mint and issue the following coins: (1) $1 silver coins with rough rider design on obverse.-- Not more than 500,000 $1 coins bearing the designs specified in section 4(a)(2), each of which shall-- (A) weigh 26.73 grams; (B) have a diameter of 1.500 inches; and (C) contain 90 percent silver and 10 percent copper. (2) $1 silver coins with adventurer design on obverse.--Not more than 500,000 $1 coins bearing the designs specified in section 4(a)(3), each of which shall-- (A) weigh 26.73 grams; (B) have a diameter of 1.500 inches; and (C) contain 90 percent silver and 10 percent copper. (b) Legal Tender.--The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code. (c) Numismatic Items.--For purposes of section 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items. (d) Use of the United States Mint at West Point, New York.--It is the sense of Congress that the coins minted under this Act should be struck at the United States Mint at West Point, New York, to the greatest extent possible. SEC. 4. DESIGN OF COINS. (a) Design Requirements.-- (1) In general.--The design of the coins minted under this Act shall-- (A) be emblematic of the life and legacy of President Theodore Roosevelt; and (B) use the designs of James Earle Fraser or Augustus Saint-Gaudens, 2 sculptors most closely associated with the revitalization of the United States coinage, commonly referred to as the ``Golden Age of American Coin Design'', that was initiated by President Theodore Roosevelt. (2) $1 coins with rough rider design.-- (A) Obverse.--The obverse of the coins minted under section 3(a)(1) shall bear the image of Theodore Roosevelt as a Rough Rider that was used on the James Earle Fraser medal of 1920. (B) Reverse.--The reverse of the coins minted under section 3(a)(1) shall bear the eagle design, with motto, from the $20 gold ``double eagle'' coin produced between 1907 and 1933 and designed by Augustus Saint- Gaudens. (3) $1 coins with adventurer design.-- (A) Obverse.--The obverse of the coins minted under section 3(a)(2) shall bear the image of Theodore Roosevelt on horseback, based on James Earle Fraser's monumental 16-foot high bronze equestrian figure of Roosevelt that-- (i) stands at the east front of the American Museum of Natural History in New York City; and (ii) recognizes Roosevelt's lifelong activity as a naturalist and conservationist and emphasizes him as an adventurer, outdoorsman, and hunter. (B) Reverse.--The reverse of the coins minted under section 3(a)(2) shall bear the design based on the reverse designs by James Earle Fraser used on the Roosevelt Memorial Association Medal of Honor and the Association's Founders Medal that-- (i) depict the crusader's flaming sword of righteousness and evoke the ``Big Stick'' philosophy that President Roosevelt espoused; and (ii) to the left and right of the flaming sword in 4 lines bear the quotation ``If I Must Choose Between Righteousness and Peace, I Choose Righteousness.'' from Roosevelt's historical work, ``Unwise Peace Treaties''. (4) Designation and inscriptions.--On each coin minted under this Act there shall be-- (A) a designation of the value of the coin; (B) an inscription of the year ``2006''; and (C) inscriptions of the words ``Liberty'', ``In God We Trust'', ``United States of America'', and ``E Pluribus Unum''. (b) Selection.--The design for the coins minted under this Act shall be-- (1) selected by the Secretary after consultation with the Commission of Fine Arts; and (2) reviewed by the citizens advisory committee established under section 5135 of title 31, United States Code. SEC. 5. ISSUANCE OF COINS. (a) Quality of Coins.--Coins minted under this Act shall be issued in uncirculated and proof qualities. (b) Commencement of Issuance.--The Secretary may issue coins minted under this Act beginning January 1, 2006, except that the Secretary may initiate sales of such coins, without issuance, before such date. (c) Termination of Minting Authority.--No coins shall be minted under this Act after December 31, 2006. SEC. 6. SALE OF COINS. (a) Sale Price.--Notwithstanding any other provision of law, the coins minted under this Act shall be sold by the Secretary at a price equal to the face value, plus the cost of designing and issuing such coins (including labor, materials, dies, use of machinery, overhead expenses, and marketing). (b) Bulk Sales.--The Secretary shall make bulk sales of the coins minted under this Act at a reasonable discount. (c) Prepaid Orders at a Discount.-- (1) In general.--The Secretary shall accept prepaid orders for the coins minted under this Act before the issuance of such coins. (2) Discount.--Sale prices with respect to prepaid orders under paragraph (1) shall be at a reasonable discount. (d) Sales of Single Coins and Sets of Coins.--Coins of each design specified under section 4 may be sold separately or as a set containing a coin of each such design. SEC. 7. SURCHARGES. (a) Surcharge Required.--All sales of coins minted under this Act shall include a surcharge of $10 per coin. (b) Distribution.--Subject to section 5134(f) of title 31, United States Code, and subsection (c) of this section, all surcharges which are received by the Secretary from the sale of coins minted under this Act shall be promptly paid by the Secretary to-- (1) the Theodore Roosevelt Association, to be used exclusively for-- (A) educational programs at Sagamore Hill National Historic Site, operated by the National Park Service, including construction and maintenance of a visitor's center; and (B) setting up a curatorial chair and purchase fund for the Theodore Roosevelt Collection at the Harvard University Library; and (2) the Theodore Roosevelt Medora Foundation, to be used exclusively for educational programs at and around the Theodore Roosevelt National Park, including construction of the Theodore Roosevelt Badlands Institute in the badlands of North Dakota. (c) Distribution of Amounts.--With respect to surcharges received under this section-- (1) the first $2,250,000 of any such surcharges received shall be paid to the Theodore Roosevelt Association; and (2) of amounts of any such surcharges received in excess of $2,250,000-- (A) three-fifths shall be paid to the Theodore Roosevelt Association; and (B) two-fifths shall be paid to the Theodore Roosevelt Medora Foundation. (d) Audits.--The Theodore Roosevelt Association and the Theodore Roosevelt Medora Foundation shall be subject to the audit requirements of section 5134(f)(2) of title 31, United States Code, for purposes of this Act.