Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1878-02-27
The Silver Bill.

Following is the full text OF the bill
as passed by the Senate on the 10th:
Be 1t enacted By the senate and house Of repre-
sentatires of the United States in congress as
sem6led:
That there shall be coined at the several
mints of the United 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 January 18th, 1887, on
which shall be the devices and super.
scription provided by said act, which
coins, together with all silver dollare
hereafter coined by the United States of
like weight and fneness shall be legal ten.
der at their nominal value for all debts and
dues, public and private, except where
otherwise expressly stipulated in the con-
tract, and the secretary of the treasury is
authorized and directed to purchase from
time to time silver bullion at the market
price, thereof, not less than two mil.
lion dollars worth, nor more
than four millions dollars worth per
month, and cause the same to be coined
monthly rs 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 appropriated, and
any gain or seignioraye arising from this
coinage shall be accounted for and paid in-
to the treasury as provided under existing
laws relative to subsid AIRY coinage, pro-
rided the amount of money at amy one time
invested in such silver bullion, exclusive Of
such resulting coin, shall not exceed five
million dollars, and prorided further that
nothing in this act shall be construed to
authorize the payment in silver of certif.
Gates of deposit issued under the provision
of section 254 Of the revised statutes.
Section 9. All acts and parts OF acts in
consistent with the provisions of this act are
hereby repealed.
Section 3. That Immediately after the
passage OF this act the president shall invite
the countries composing the Latin Union
so-called, and of such other European ma
tions as he may deem advisable, to join the
United States in conference, to adopt d
common ratio between gold and silver fol
the purpose of establishing internationally
! the use of bi-metallic money, and Ae
curing 6xity of relative value
between these metals, such conference to
be held at such place in Europe or in the
United States OF such time within SIX
! months as may be mutually agreed upon
by the executives Gf the governments JOIN
/ ing in the same. Whenever the govern
ments SO invited, or any three of them shsl
the same the president shall, by aud with
| the advice and consent of the senate, ap
point three commissioners who shall atte nd
such conference on behalf of the United
States, and shall report the doing'
thereof to the president, who shall transm'
the same to congress. Said commissioner,
shall each receive the sum of two Thousand
| five hundred dollars and their reasonable
expenses, to be approvedby the secretary o
state, and the amount necessary to pay suct
compensation and expenses is here
by appropriated out Of any money il
the treasury not otherwise appropriated
! Section i. That any holder of the coin
authorized by this act may deposit the sam,
with the treasurer or any assistant treasure
of the United States, in sums not less thar
ten dollars, and receive therefor certificate
of not less than ten dollars each correspond
ing with denominations of United State
notes. The coin deposited for or represent
ing the certificates shall be retained in tn
treasury for the payment of the same on de
mand; said certificates shall be receivable
for customs, taxes and all public dues, ant
when so received msy be re-issued.