, 1878-03-09
The Silver Bill.

tO0 9uoV0S 0uUts
Section l. There shall be coined
at the several Mints of the United
States. silver dollars Of the weight
of 4121s grains Troy, of standard
silver, as provided in the act of Jam
uary, 1887, on which shall be the
devices and superscriptions provid-
ed by said act, which coin, together
with all silver dollars heretofore
coined in the United States of like
weight and fiseaess, shall be legal
tender at their nominal value for
all debts and dues, public and pri-
vate, except where otherwise ex-
pressed and stipulated in the con-
tract; and the Secretary of the Treas
ury is authorized and directed to
purchase from time to time silver
bullion, at the market price thereof,
not less than $2,00O,000 worth per
month, nor more that 81 ,OCO, 900 per
month, and cause the same to be
coined monthly, as fast as purchased
into such dollars; and sum suffi-
cient to carry out the foregoing pro-
visions Of this act is hereby appro-
priated ont of any money in the
Treasury not otherwise appropriat-
ed; and any gain or seignorage aris-
ing from this coinage shall be ac-
counted for and paid into the Treas
ury, as provided under existing laws
relative to the subsidiary coinage;
provided that the amount of money
at any one time invested in such sill
yer bullion, exclusive Of such re-
sulting coin, shall not exceed $5,-
600, 900; and provided further, that
nothing in this act shall be con-
s:rued to authorize the payment
in silver of certificates of deposit is
sued under the provisions OF Section
254 OF the Revised Statutes.
SEQ. 9. All Acts and parts of Acts
inconsistent with the provisions Of
this Act are hereby repealed.
Sec, 3. That Immediately after
the passage of this Act the Presi-
dent shall invite the Governments
of countries composing the Latin
Union, so-called, and such other
European nations as he may deem
advisable to join the United States
in a conference, to adopt a common
ratio bstween gold and silver, for
the purpose of establishing interna-
tionally in the use of bi-metallic
money, and securing fixity of rela-
tive value between these metals.
Such conference to be held in such
place in Europe or in the United
States, at some time within six
months, as may be mutually agreed
upon by the Executives of the Gov
ernments so invited. When any
three Of them shall have signified
their willingness to unite in the
same, the President shall. by and
with the advice and consent of the
Senate. appoint three Commission
ers, who shall attend such confer
ence on behalf of the United States,
and shall report the doings thereof
to the President. who shall trans
nit the same to Congress. Said
Commissioners shall each receive
the sum Of s., 800 and their reason
able expenses, to be approved by
the Secretary of State. The amount
necessary to pay such compensation
and expenses is herewith appropriat-
ed out of any money in the Treasury
not otherwise appropriated.
Sec. 4. That any holder OF the
coin authorized by this Act may de-
posit the same with the Treasurer or
any Assistant Treasurer of the Unit
ed States, in sums not less than $40,
and receive therefor certificates Of
not less than $40 each, correspond
ing with the denominations of Unit
ed States notes. The coin deposited
for or representing the certificates
shall be retained in the Treasury for
the paymentof the same on demand.
Said certificates shall be receivable
for customs, taxes, and all public
dues, and when SO received shall be
re-issued.