The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1878-02-21
THE SILVER DOLLAR.

The silver bill has passed the United
States Senate with, the exception of the
free coinage section, by vote Of As to
81, and is returned to the House for con-
currence. In this shape it will doubtless
become law, and will thereby save our
nation from q terrible financial crisis.
The.following is the text of the bill:
Be it enacted by the Senate and House
of Representatives of the United States
of America in Congress assembled, That
there shall be coined at the several Mints
of the United States silver dollars Of the
weight of 4l23 grains Troy of standard
silver, as provided in the act of January
1S, 1887, on which shall be the devices
and supersoription provided by said act,
which coins, together with all silver dol
lars heretofore coined by the United
States of like weight and ineness, shall
be legal tender at 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 100000 worth per month,
nor more than $4,0O0.0OO worth per
month, and cause the same to be coined
monthly as fast as so purchased into such
dollars. And a. sum sufficient to carry
out the foregoing provision of this act is
hereby appropriated out of any money
in the Treasury not otherwise appropria-
ted. And any gain or seigniorage arising
from the coinage shall be accounted for
and paid into the Treasury as provided
under existing laws relative to the sub
sidiary coinage, provided that the amount
of money at any one time invested in
such silver bullion, exclusive of such re-
sulting coin, shall not exceed $5, 000, 900,
and provided further that nothing in this
act shall be construed to authorize the
payment in silver of certificates of de-
posit issued under the provisions of Sec
ton 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are hereby repealed.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 countries
composing the Latin Union, so-called,
and of such other European nations as
he may deem advisable, to join the Uni
ted States in a conference to adopt q
current ratio between gold and silver, for
the purpose of establishing information
ally the use of bi-metallic money, and
securing fixity of relative value between
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 upon by the
Executives of the governments joining
in the same, whenever the governments
so invited, or any three of them, shall
have signifed their willingness to unite
in, the same. The President shall, by
and with the advice and consent of the
Senate, appoint three Commissioners,
who shall attend such conference on be-
half of the United States, and shall re-
port the doirgs thereof to the President,
WHO shall trsnsmit the same to Congress.
The said commissioners shall each re-
ceive the sum of $4,000 and their reason
able expenses, to be approved by the
Secretary of State, and the amount ne.
cessa-y TO pay such compensation and
expenses is hereby appropriated out of
any money in the Treasury not otherwise
appropriated:
SEC. 4.-That any holder of the coin
authorized by the act may deposit the
same with the Treasurer or any Assis-
tant Treasurer of the United States in
sums not less than $40 and receive there
for certificates of not less than $40 each,
corresponding with the denominations of
the United States note. The coin depos-
tied for or representing the certificates
shall be retained in the Treasury for the
payment of tae same on demand. Said
certificates shall be receivable for Gus
toms, taxes and all public dues, and when
so received may be reissued.