The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-02-21
The Silver Bill.

Ghe SILVER Bill.
The following is the full text Of the silver
bill. as it passed the senate on the morning
of the 18th:
Be it enacted by the senate and house
of representatives of the United States of
America, 10 congress assembled, That
there shall be coined at the several minis
of the United States silver dollars of the
weight of 4l23 grains, troy. of standard
silver, as provided in the act of January
Is, 1878, on which shall be the devices
aud superscriptions provided by said act;
which coins, together with all silver dollars
heretofore coined by the United States of
like weight and fneness, shall be a legal
tender 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 $l,OOO,O0
worth per month, nor more than 1900, 900
worth per month, aud cause the same to
be coined monthly, as fast as so purchased,
into such dollars; and a sum sufficient to
carry out the provisions of this act 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
the existing laws relative to the subsi-
diary coinage. Provided that the amount
of money at any one time invested in such
silver bullion, exclusive of such resulting
CON- shall not exceed $4,000, 600; provided,
further, that nothing in this act shall be
construed to authorize tho payment in
silver Of certificates of deposit issued
under the provisions of section 254 of the
revised statutes.
Sec. 2, All acts andiparts of acts incon-
slstent with the provisions of this act are
hereby repealed.
Sec. 3. That Immediately after the
passage of this act the president shall in
Yite the governments of the countries COM
posing the Latin union, so-called, and of
such other European nations as he may
deem tadvisable 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 BIZ
metallic money, and securing 6xity of
the relative value between those two
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
naturally agreed upon by the executives of
governments joining in the same, when
ever the governments so invited, or any
three of them, shall have signi6ed their
willingness to unite in the same. The
president shall, by and with the advicejand
consent of the senate, appoint three COM
missioners, who shall attend such confer
ence in behalf of the United States, and
who shall report the doings thereof to the
president, who shall transmit the same to
congress. Said commissioners shall re-
ceive the sum of $4,000, and their reason
able expenses, to be approved by the Sec
rotary of state, and the amount necessary
to pay such compensation and expense is
hereby appropriated out of any money in
the treasury not otherwise appropriated.
sec T.. That any holder Of the coin au-
tnorlZeu oy THIS act may deposit the same
with the treasurer or any assistant treas
urer OF the United States, in sums not less
than $40 and receive therefor certificates
OF not less than $40 each, corresponding
with the denominations of the 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 public dues, and when so received may
be reissued.
On motion Of Senator Allison, the title
OF the Dill was amended 80 as to read, "A
bill to authorize the coinage of standard
silver dollar, and restore its legal tender
character"