The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-08-02
The Coin Notes Bill.

| OF the various schemes before Congress
to accomplish the restoration of the old
silver dollar to place in the currency OF
the country; the bill accredited to Mr.. Bland
of Missouri, aud by him reported from
the mining committee, has the most ap-
pearance of serious, practicable measure.
| It has been regularly reported from a
leading committee and must come before
the HOUSE as unfinished business in few
days. When it dOss so coma up, the
friends OF the bill claim that its passage is
reasonably certain. and that a small ma
ority may be relied upon for it in the
Senate also. This being the case, the bill
is receiving considerable attention from
the press. 1t having never appeared in
our columns we give its full tex:
| he II enacted by the Senate and House OF
Representatives OF the United states OF
America In Congress assemb a, 1hat coin
Mes ,bereef nm 10 sIHo1o. nav in the mode
hereinafter prov ded be paid 10 the several
mints and assay offices for the net value OF
gold an6 ss sEs5 Spui ed tasTsat and
per centum In coin or fine oars shall at al
times be kept on hand for the redemption OF
ep ed boI 30 at s eon
ing value, and silver 1T the rate OF AZ grains
STANDARD silver to the dollar, less the law
tation from the several assay ONES to the
minis for coinage and from the latter u the
assistant tire ,surers res pectively at which the
coin notes shall be payable.
Sec 2. that for bullion deposited at the
minis of San Francis CO aud Carson the coin
notes shall bered sema'le on demand at the
ASST >tsnt treasury at San Franc SEQ, and for
the bullion p lsited at all o her minis and
assay offices notes shall be ledeemable at the
assistant treasury at New York.
shall from time to time cause com and fine
/ mint bar (sta ped) to be transferred from the
mint 10 the assistant treasures at San Fran
cisco and New York in such amounts as may
| be necessary for the redemption OF coin no;es.
Sec. 4, Tat the coin noIes issued under IN >
provisions of this act shall be receivable with
out limit for all dues to the United ) ates, and
the coin mentioned in this act shall be legal
tender for all debts of he United states not
specified to be paid In goid coin.
Sec. S. That the 2 Id coin notes issued under
this act sha be redeemed on presentation In
COLO coin or fine bars and silver in silver dol
| Sec 4. That the coin ses authorized by
| this act to be issued shail be prepared under
the direction of the secretary OF the treasury,
and shall be transe, red to the different mints
and assay offices as part OF the bullion fund,
from which fund the deposits shah be
paid for In coiH, or coin notes. a. the option Of
Sec !. That the fine gold and silver bars by
this act autborizt TO be issued, shall bear The
mint amp OF nneness, weight ana value, ana
| the value of the gold bars snail be computed
according to their co ming rate, and the 81 Yer
| bars at their coming value In dollars.
Sec. 8. That the secretary OF the treasury
shall prescribe the necessary regu1 atoms for
carrying into effect the provisi ms of this act.
The object OF The bill is well expressed
in the title. 1t is designed to enable the
government to utilizs the products OF it's
mines in discharging its Indebtedness,
aud It corIects the vicious legisla I'm of
1878 which denied to the na.ion the use OF
large part of that product for this pur-
pose. There are certain crudities in the
measure, and there will, doubtless, be
some embarrsss ments connected with the
notes it proposes to issue which subse-