Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1878-02-19
Passage Of the. Silver BILL

Ats o'clock on last Saturday morn
ing, the silver bill, as amended by the
Finance Committee, passed the U. s.
Senate by the vote of 4S to 81. It mus!
go to the House for concurrence.
Silver is remonetized and made the
equal with gold as legal tender. Free
coinage is stricken out.
Harris and Patterson, who would have
voted for the bill, were paired with Hill
and Butler, who would have voted a.
gainst it. Ransom was detained on ac-
count of illness.
The bill as it passed the Senate is as
follows:-
An Act to authorize the Coinage of the
Standard of Siluer Dollar and to Re-
store its Legal Tender Character.
Section ]. Be 1t enacted, etc., That
there shall be coined at the several minis
of the United States silver dollars of the
weight of 4129 grains troy, of standard
silver, as provided in the act of January
Is, 1887, on which shall be the devices
and superscriptions provided by said
act, which coins. together with all silver
dollars heretofore coined by the United
States of like weight and fineness, shall
be a legal tender st their nominal value
for all debts and dues, public and private,
except where otherwise expressly stipu-
lated in the contract and the Secretary
of the Treasury is authorized and direct
ed to purchase from time to time silver
bullion at the market price thereof, not
less than S2,OO0,0OO worth per month,
nor more than 100000 worth per
month, and cause the same to be coined
monthly as fast as so purchased, into
such dollars, and sum sufficient to car
ry out the foregoing provision is hereby
appropriated out of any money in the
Treasury not otherwise appropriated,
and any gain or seigniorage arising from |
this coinage shall be accounted for and |
paid into the Treasury as provided I'M
der existing laws relative to the SUBJ
sidiary coinage: Provided, That the "a
ed in such silver bullion, exclusive of
such resulting coin, shall not exceed S.,
600, 900: And provided further, That no.
thing in this act shall be construed to
authorize the payment in silver of GER
tificates of deposit issued under the pro-
visions of section 254 of the Revised
Statutes.
Section 2. That Immediately after the
passage of this act the President shall
invite the Governments of the countries
the Latin Union $50 called,)
and of such other European nations as
he may deem advisable, to join the Uni
ted States in a conference to adopt a
ratio as between gold and silver,
for the purpose of establishing interna-
tionally the use of bimetallic money and
q fixity of relative value be-
tween those metals; such conference to
be held at such place in Europe or in the
United States at such time within six
months as may be mutually agreed up
on by the Executives of the Govern
ments joining in the same. Whenever
the Governments so invited, or any
three of them, shall have signified their
to unite in the same, the
President shall, by and with the advice
and consent of the Senate, appoint three
who shall attend such
on behalf of the United States,
and shall report the doings thereof to
,he President, who shall transmit the
same to Congress. Said commissioners
shall each receive the sum Of two thou
sand five hundred dollars and their rea-
,onable expenses, to be approved by the
secretary of State, and the amount n~
,essary to pay such compensate and
expenses is hereby appropriated out of ,
any money in the IT not other.
wise appropriated, d
Section 8: That any holder of the coin
authorized by this act may deposit the
'ame with the Treasurer or any Assis- .
ant treasurer of the United States in
ums not less than ten dollars, and re- !
'elve therefor certificates of not less than
of the United States
totes. The coin deposited for SO repre-
enting the certificates shall be retained
n the Treasury for the payment of the
anne on demand. Said certificates shall
re receivable for customs, taxes, and all
public dues, and when so received may
De re-issued.
Section 4. All acts and parts of acts in
onsistent with the provisions of this act
re hereby repealed.