Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-12-26
WASHINGTON.
4 Proposed C0sstftutEOnaI Amendment
-Fext Of the New Finance BiIi.

/ PROPOSED CONSTITUTIONAL AMEND
MENT.
The following is the amendment 70
/ the constitution proposed by Mr.. Law
| renee, of Ohio:
Article. No claim against the United
States shall be paid unless presented in
! pursuance OF law by the claimant with
in ten years after having legal right aud
capacity to do so, or within such less
! period as may be prescribed by law. A
claim rejected by any authorized officer,
or reported adversely by s committee OF
either house OF congress, shall not be
re-examined or paid unless within six
years after such rejection or adverse re-
port.
TEXT OF THE NEW FINANCE BILL.
A BIZ "to provide for the resumption ofspe-
Gle payments
Be Il enacted, etc., That the secretary
Of the treasury is hereby authorized
and required, as rapidly as practicable,
to cause TO be coined st the mints OF
the United Ststes, silver coins OF the
denominations Of ten, twenty-five, and
fifty cents, OF standard value, aud TO is
sue them in redemption Of an equal
number and amount Of fractional cur
reDcy OF similar denominations, or, at
bis discretion, he NAV issue such silver
coins through the mints, the sub-treas-
uries, public repositories, and post
offices OF the United States, and, upon
slch issue, he Is hereby authorized and
required to redeem an equal amOuut OF
such fractional currency until the whole
amount Of such fractional currency out
standing shall be redeemed.
SECTION ,. That go much Of section
1924 of The Revised Statutes OF the Uni
ted States as provides for a charge Of
sDe fifth Of one per CEN ium for convert
ing stsndaTd-gOld bullion into coin is
hereby repealed, and hereafter no charge
shall be made for that service.
SECTION 5. That section 5l7T Of Re-
visId statutes OF the United States, linn
iung the sggregate amount Of circulat-
ing notes Of national banking sssocia-
tons be, and is hereby, repealed, aud
each existing banking association may
iucreSse its circulating notes in accord
ance with existing law without respect
TO said aggregate limit, and new bank
ing associations may be organized in
accordance with existing law without
respect to said aggregate limit, aud the
provisions Of law for the withdrawal and
OF national bank currency
among the several Sta es and Territories
ere hereby repealed, and whenever and |
80 Of,en as circulating notes shall be is
sued to any such banking association, |
SO increasing its capital or circulating 1
notes, or so newly organized as afOre- |
said, 1t shall be the du Y Of the secretary /
OF the treasury to redeem the 'legal-teu- /
der United States notes in excess only 1
Of three hundred millions of dollars tO |
the amount OF eighty per centum OF the 1
sum % national bank notes 20 issued to /
any such banking ass 1ciatiOn as aiO e. 1
said, and to continue such redemption 4
IS such circulating notes are issued until |
there shall be outstanding the sum OF
-hree hundred million dollars Of such 4
egs;-teBder United States notes and
10 more; aud OH and after
he first day Of January, A. ID. 1879, the
OF the treasury shall redeem in
,Oin the United States legal-JendeT
lOtes then outstanding, O1 their pre-
for redemption at the Office of
he assistant treasurer Of the United
states in the city of New York in sums
4 not less than fifty dollars. And to
,nable the secretary Of the treasury To
,Tepare and provide for the Tedemptions
n this act authorized OF required, he is
authorized 20 use any surplus revenues
rom time to time in the treasury not
otherwise appropriated, and 10 issue,
ell, and dispose Of, at not less than psr
u coin, either of the descriptions Of the
DOnds Of the United States described ia
he act OF congress approved July IA,
SO, entitled "An act to authorize the
of the national debt" with
ike qualities, privileges and exemptions
O the extent necessary TO carry this act
ntO full effect, and to use the. proceeds
hereof for the puTP1ses Aforesaid. And
III provisions Of law inconsistent with
he provisions Of this act are hereby re-
Id