The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1878-02-21
The Silver Bill.

The following is the full text of the bilis
as passed by the Senate:
"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 four hundred and twelve and half
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 fine
ness, shall be legal tender at their nom-
lnal value for a l debts and dues, public
and private, except where otherwise ex-
pressiy 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 prices
thereof, not less than 100000 worth
per month, nor more than 81 4,00QsaD
worth per month, and cause the same Me
coined monthly, as fast as SO purchast5
into such dollars, and sum sufficient TO
carry out the foregoing provisiana of this
act is hereby appropriated out of any ymoney
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 ex-
listing laws relative to the subsidiary COIN
age. Provided, that the amount OF money
at any time invested in such silver bullion,
exclusive of such resulting coin, shall not
exceed five million dollars. And, provided
further, that nothing in this act shall be
constructed to authorize the payment in
silver of certificates of deposit issued under
the provision of Section 254 of the Revised
Statutes.
"SEc. 2. All acts and parts of acts incon-
sistent with the provisions of this act are
hereby repealed.
SEC. 8. That Immediately after the
passage of this act, the President shall in
vlte the Governments of the countries COM
posing the Latin Union, so-called, and of
such other European Nations as he may
deem advisable, to join the United States in
conference to adopt common ratio be-
tween gold and silver for the purpose of
establishing, internationally, the use of a
bimetaliic money, and securing a tixity of
relative value between these 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 Com
missloners, who shall attend such con-
ference on behalf of the United States, and
shall report the doings thereof to the Presi-
dent, who shall transmit the same t.,
Congress.
"Said Commissioners shall each receive
the sum of $500 and their reasonable ex-
penses, to be approved by the Secretary of
State, and the amount necessary to pay such
compensation and expenses is hereby appro-
priated cut of any money in the Treasury
not otherwise appropriated.
"SEC. 4. That any holder of the coin
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
certificates of not less than ten dollars each,
corresponding with denominations of United
States notes. The coin deposited for, or
representing the certificates shall be re-.
tanned in the Treasury for the payment of
the same on demand; said certificates shall
be receivable for customs, taxes and all pub
lie dues, and when SO received may be re-
issued,n