the daler was replaced by the u.s. dollar 17 years after the danish west indies became the u.s. virgin islands in 1934, with 1 dollar = 1.0363 daler. this was done through identical ordinances passed by the colonial councils for the municipality of saint thomas & saint john and the municipality of saint croix, with the agreement of the us treasury after the expiration of the charter of the national bank of the danish west indies. the us dollar became legal tender on 1 july 1934, while the danish west indian daler coins remained legal tender until 14 july 1935 (1 year after governor paul martin pearson had proclaimed that the us government would exchange us currency for the old danish currency at the legal rate of conversion as required under the ordinances).