The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1878-02-21
Il SILVER BILL!
By A VOTE OF 4s TO ali
Good Bye Shys0cks!

Good Bye Shgt0ckS!
The Silver bill passed the Senate
on Saturday morning last at five
o'clock, after being in session seven
teen hours, and now the Bondhold-
ers and Shylocks that secured the
decentralization of silver can crawl
into their holes. A veto from the
fraudulent President will do no good,
as q two thirds vote is sure in both
houses. The striking out of the
coinage clause is tine worst feature
and a serious loss, but still it will do
much good. As the bill passed the
Senate it went to the House, which
body referred it to the Committee on
Banking and Currency. 1t will meet
with considerable opposition in the
House Because of the leaving out of
the free coinage clause. It is very
doubtful about its passage as it pass
ed the Senate. The following is a
full text of the bill as if passed:
Be it enacted by the senate and
house of representatives of the Uni
ted States of America, in congress
assembled, That there shall be coin
ed, at the several minis of the Uni
ted States, silver dollars of the
weight of four hundred and twelve
and a half grains troy of standard
silver, as provided in the act of Jan
uary 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 at their nominal value, for
all debts and dues, public and pri-
vate, except where otherwise express
ly stipulated in the contract: and the
secretary of the treasury is authoriz-
ed and directed to purchase from
time to time, silver bullion at the
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 pur-
chased, into such dollars; and a sum
sufficient to carry out the foregoing
provisions of this act is hereby APP
~propriated, out of any money in the
treasury, not otherwise appropriated,
and any gain or seigmorage arising
from this coinage shall be accounted
for and paid into the treasury, as
provided under existing laws relative
to the subsidiary coinage.
Provided, That the amount of
money at any one time invested in
such silver bullion, exclusively Ct
such resulting coin, shall not exceed
five million dollars, and,
Provided further, That nothing in
this act shall be construed to author
ize the payment in silver of certifi-
Gates of deposit, issued under the
provision of section 254 of the reyis-
ed statutes.
Sec. 2. All acts and parts of acts
inconsistent with the provisions of
this act, are hereby repealed.
Sec. 8. 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 Euro
pean nations as he may deem advisa-
BILE, to join the United States in a
conference to adopt a common ratio
between gold and silver, for the pur-
pose of establishing internationally
the use of a bi-metallic money, and
securing the fxity of the 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 join,
ing 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 ad-
vice and consent of the senate, APP
point 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 con-
gresss, said commissioners shall each
receive the sum of two thousand five
hundred dollars, and their reasona-
BILE expenses, to be approved by the
secretary Of state; and the amount
necessary to pay such compensation
and expenses is hereby appropriated
out of any money in the treasury
not otherwise appropriated.
Sec. A. That any holder of the
coin authorized by this act may de-
post the same with the treasurer,
or any assistant treasurer of the
United States, in sums not less than
ten dollars, and receive therefor GER
tiicates of not less than ten dollars
each, corresponding with the denom-
nations of United States notes. The
coin deposits for, or representingth the
certificates, shall be retained in the
treasury for the payment of the same
on demand; said certificates shall be
receivable for customs, taxes and all
public dues, and when so received
may be reissued.
Revenues, both internal and GUS
tom duties, are falling off at a rate
of two or three millions ner month.