Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1878-02-20
Tho silver blu a. Il Passed the SON


ate.
Be 1t enacted by the Senate and House
Of Representatives Of the United
States Of America IN Congress as
sembled:
That there shall be coined at the
several minis of the United States sill
yer dollars of the weight of 4l2Is
grains troy, of standard silver, as pro-
vided in the act of Jan. Is, 1887, on
which shall be the devices and super
scription provided by said act, which
coins, together with all silver dollars
heretofore coined by the United
States of like weight and fineness,
shall be legal tender at their nomi-
nal value for all debts and dues, pub
lie and private, except where other
wise expressed and stipulated in the
contract; and the Secretary of the
Treasury is authorized and directed
to purchase, from time to time, silver
bullion, at the market price thereof,
not less than $2,00O,OOO worth per
month, nor more than $4,000, 600 worth
per month, and cause the same to be
coined monthly, as fast as SO purchas-
ed, into such dollars, and q sum suffi-
cient to carry out the foregoing pro-
visions of this act is hereby appro-
priated out of any money In the Treas
ury not otherwise appropriated
And any gain or seignorage arising
from this coinage shall be accounted
for and paid into the Treasury as
provided tor under existing laws rel
alive to the subsidiary coinage pro.
vided, that the amount of money at
any one time invested in such silver
bullion, exclusive of such resulting
coin, shall not exceed 100000; and
provided, further, that nothing in this
act shall be construed to authorize the
, payment in silver of certificates of de.
, post issued under the provisions OF
section 254 of the Revised Statutes.
Sec. 2. All acts and parts Of acts in.
consistent with the provisions Of this
act are hereby repealed.
. SEC. 3. That Immediately after the
passage of this act the President shall
invite the governments of the coun.
tries composing the Latin Union, sc
called, and of such other European
} nations as he may deem advisable, tt
. join the United States in conference
to adopt a common ratio between
|, gold and silver, for the purpose O.
establishing internationally the use o.
bi-metallic money, and securing fix
ity of the relative value between thos,
metals such conference to be held a
such place in Europe, or in the United
States, at such time within six month";
as may be mutually agreed upon b,
8 the executives of the government
9 joining in the same. Whenever tn,
: governments so invited, or any three
of them, shall have signified thei
willingness to unite in the same, tn
President shall, by and with the ad
i? vice and consent of the Senate, ap
point three Commissioners, who shall
r attend such conference on behalf o
, the United States, and shall repor
the doings thereof to the President
T who shall transmit the same to Con
, gress. Said Commissioners shall
j, each receive the sum of $500 an,
their reasonable expenses, to be ap
proved by the Secretary of State, an,
) the amount necessary to pay such com
= pensation and expenses is hereby ap
e propriatcd out Of any money in tn
a Treasury not otherwise appropriated
SEC. 4. That any holder Of the coil
authorized by this act may deposi
d the same with the Treasurer or an,
d Assistant Treasurer of the Unite,
4 States in sums of not less than SIC
and receive therefor certificates of no
Il less than $40 each corresponding wit
y the denominations of United State
a notes. The coin deposited for, or rep
}. resenting, the certificates shall be re
tanned in the Treasury for the pay
ment of the same on demand. Sal,
u certificates shall be receivable for Gus
/ toms, taxes and all public dues, AM
}, when 80 received may be reissued.