The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-27

The varlou. oliver Bill. Now Before Com
gress.
THg4LAND SILVER BILL.

THfY!LAND SILVER BILL.
The first sNtion provides that there shall be
coined at W several nints Of the United
States the slter dollar Of the weight Of 412L
grains troy II standard silver, as provided In
the act Of Jfnuary 49, 1887, on which shall be
the devices bind representations provided by
said act; which coins, together with all silver
dollars HERETOFORE coined by tho United States
Of like, Wight and flneness, shall be
for all llebts and dues, public and
private, 9rept where otherwise provided
by contra|t; and any owner Of silver bullion
may depfit the same IN any United States
coinage jint or assay Office to be coined into
such dofars for his benefit upon the same
terms ahd conditions as gold bullion Is de-
posted pr coinage under existing law.
Seetid provides for repeating all acts and
Of the it
THf MATTHEWS SILVER REVOLUTION.
Whyeas by the act entitled IAN act TO
strengthen the. public credit" approved
Marcld8, 1869, it was provided and declared
that ~ faith Of the United States was there
by sstmnly pledged to the payment In coin
obla fons Of the United States, except In
casePi where the law authorizing the issue Of
sucf obligations had expressly provided that
theE ,Ame might be paid in lawful money or
9th 1currency than gold and silver; and
VJj3reas all the bonds Of the United States
auGtrized to be issued by the act entitled
"a bet to authorize the refunding Of the ma
tif fl debt, approved July Ia, 1870, by the
te is Of said act were declared to be redeem
al 1 in coin OF the then present standard
W f. bearing interest payable semi-annu-
az in such coin; and
.Yhereas, all bonds Of the United States au-
t,ykized to be issued under the act entitled
n11 act to provide for the resumption Of
1tt required to be Of the description OF bonds
9tFthe United States described In the said act
~ Congress, approved July IA, 1870, entitled
An act to authorize the refunding OF the
Whereas, at the date of the passage Of said
act Of Congress last Aforesaid, to wit: the
burteenth day of July, 1870, the coin Of the
United States OF standard value OF that date
grains each, declared by the act approved
January Is, 1897 entitled 'An act supplement
tary to the act entitled AN act establishing
mint and regulating the coins Of the United
States, =" to be legal tender Of payment, ac-
cording to their nominal value, for any sums
Be 1t resolved By the Senate. the House of
Representatives. concurrtng therein, That all
the bonds OF the United States issued or au-
thorized to be issued under said acts Of Con-
gress herenbefore recited are payable, prin-
cipal and interest, at the option Of the govern
ment of the United States, in silver dollars, of
The coinage Of the United States, containing
i121a grains each Of standard silver; and that
egal tender in payment OF said bonds, prin-
3ipal and interest, is not in violation OF the
public faith nor in derogation Of the rights OF
jhe public creditor.
BLAINEs SILVER BILL.
4 bill to authorize the coinage Of silver dol
lars for circulation, and make same legal
tender, and for other purposes.
Be 1t enacted, ETC., That silver bullion may be
deposited at any coinage mint, or at the assay
,ffce in the city of New York, for returns In
silver dollars OF - grains standard silver at
such rate or price per standard ounce Of bull
ion as may from time to time be fixed by the
director OF the mint, with approval in writing
If the Secretary OF the Treasury, and which
ate shall correspond as exactly as possible
With the market rate, and bullion thus placed
shall, in addition to other required coinage
authorized by existing law, be coined without
lelay to the full capacity OF the mints.
SEC g. That any gain or profit arising from
coinage of silver dollars shall, after payment
If lawful wastage, be covered into the treas
Try of the United States at the close OF each
iScal year.
SEC. g. The silver dollar herein authorized
% be coined shall be a legal tender, as by ex-
Ill sums up to and including five dollars; and
or all sumns exceeding five dollars the debtor
hall have the right to tender In full payment,
md the creditor the right to demand one
laf the amount in gold coin and one-haf In
ilyer dollars.
SEC. 4. Fine or standard gold and silver
,ars, bearing the stamp Of any coinage mint.
II of the assay Office at New York, shall be
eceived by the Assistant Treasurer OF the
United States at New York for their stamped
1alue, which shall be their coming rate res
,ectively, and coin certificates shall be issued
therefor by the Assistant Treasurer In the
,ame manner as coin certificates are now is
,ued for gold coin. and certificates so issued
,hall be redeemed by the Secretary OF the
Treasury on demand at the Office of the Assis-
ant Treasurer at New York In coin or
stamped bars of bullion, deposited at his
option.
]. r, Walker. d. D. s.. 1870 Delord street.