The Russellville Democrat., 1878-03-14
THE SILVER BILL.


 Silver Bill as passed by the Senate On Friday morning, 10th inst:
 Be it enacted by the Senate and House of Representatives of the United States of America in Con gress mbled, That there shall be coined at the several hints of the United States silver dollars of the weight of 4124 grains troy Of stan dard silver, as provided in the act of January Is, 1887, on which shall be the devices and superscriptions pro- vided by said act, which coins. to- gether with all the silver dollars heretofore coined by the United States of like weight and finish, shall be legal tender at the moneyeei value for all debts and dues, public and private, except where otherwise expressly stipulated in the contract, and the Secretary of the Treasury is authorized and directed to purchase, from time to time, silver bullion at tine market price thereof not less than two million dollars worth per month, nor more than four million dollars worth per month, and cause the same to be coined monthly, as fast as so purchased, into such dol lars and snms, sufficient to carry out the foreign provisions of this act, which 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 under existing laws relative to sub sidiary colnage; provided, that the amount of money at any one time inyested in such silver bullion ex- elusive of such resulting coin, shall not exceed five million dollars; and, provided further, that nothing in thls act shall be construed to athorIze the payment in silver of certificates of deposit issued under the provision of Section 254 of the Revised Stat utes.
 Sec. ?. All acts and parts of acts inconsistent with the provisions of this act are hereby repealed.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 President shall invite the Governments com posing the Latin Union, so called, and of the European Nations as he may deem advisable, to join the United States in conference to adopt common ratio between gold and silver, for the purpose of establish ing INTERNATIONALLY the use of bi- metallic money. and securing fixity of the relative value between those metals, such conference 10 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 signified 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 behalf of the United States, and shall report the doings thereof to the President, who shall transmit the same to Congress. Said Commissioners shall each re- ceive the sum of $2, 2,500, and their reasonable expenses, to be approved by the Secretary of State, and the amount necessary to pay such com pcnsation and expenses is hereby appropriated out of any money in the Treasury not otherwise appro priated.
 Sec. f. That any holder of com authorized by this act may deposit the same with the Treasurer or any Assistant Treasurer of the United States, in sums not less than ten dollars, and receive therefor certifi- cates of not less than ten dollars each, corresponding with denomina- tions of United States notes. The coin deposited for or representing certificates shall be retained in the Treasury for the payment of same on demand Said certificates shall be receivable for customs, taxes and all public dues, and when so receiy- ed may be reissued.