The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1885-10-10
WHITE PINE NEWS
WARMERS NEW sILvEReBnL.

4 -
giving the following as correct
presentation of the compounds silver
bll.to be presented by Representative
Warner, of Ohio, to the next Congress.
This bankers circular, of course,
vehemeuts opposes Mr. Warmers
scheme, and claims that nothing short
OF demonstration can save the country
from utter ruin. We rather like Mr..
Warmers measure, and we believe
SILVER men az a whole will not oppose
it. In any case it is well worthy of
persual, 50 we publish it in full
A bill to provide for the issue Of
Treasury certificates on deposited
silver bullion, and for other purposes
BE it enacted by the Senate and
House Of Representatives ii the
United States Of America in Congress
assembled; That any holder of silver
bullion may deposit the same With the
Treasurer or any Assistant II easurcr
lass in value than ten dollars, aud
receive therefor certificates in
denominations of ten dollars and
mutipies ef ten, prepared as now
provided by law for United States
notes. such certificates shall be
receivable at par in all parts ot the
United Kiates for customs, taxes, and
all other public dues, and may he
deposited by national banks for the
redemption of their circulating notes,
and shall be legal tender between
national banks, and shall also be
Legal tender in payment of all debts
and demands owing by the United
States, except where payment in coin
Is expressly stipulated. They shall
be rdeemable on presentation at the
Treasury or Treasury in the city
OF New York. in lawful money, or, al
the option of the Secretary Of the
Treasury, i'll silver bullion at its
market value at the time OF redcmp
,isn.
See. .. The value or ratio to gold,
AT which certificates shall be issued
on silver bullion deposited under this
aci, sinai be its actual ratio or market
value at tire time Of deposit, to he
Determined by the Secretary of the
Treasury. for each calendar month, by
taking he average selling price Of
silver bullion, as expressed in gold
dollars, IN The open market in New
York city, during the preceding
month, which price. SO determined,
shall be the value or ratio to gold at
which certificates shall he issued durs
ing the succeeding month.
Or the market value may be deter
mined for each day, as follows.
The value or ratio To gold at witch
certificates shall be issued on silver
bullion deposited under this act shall
be It's actual ratio or market value at
the time of deposit, to be determined
10y the Secretary of the Treasury for
each day, by taking the mean selling
price "f silver bullion in the open
market in New York city, in gold dol
lars, on the first preceding day on
winch actual sales were made. Or
substitute London for New York, and
deduct from the London price the cost
at transporting silver bullion between
New York and London.
The price at which silver bullion
shall be delivered in the redemption
OF certificates shall be the price at
which AT the same time it is being
received: Provided, That certificates
shall nor be issued on silver bullion
Al valns above the ratio of silver to
gold as now fixed by law for standard
5oid ana silver coins; and if, at ANY
time, silver bullion rises to "A value
equal to the ratio of the twa metals
IN existing standard coins, then any
holder of silver bullion NAV, at his
option. receive certificates for it, as
provided in this act or have the same
coined nj that ratio into standard
dollars, or half dollars, of the weight
hereinafter provided, ON the same
terms and conditions as provided by
law for the coinage Of gold; but if
hereafter the ratio of silver to gold in
standard coins shall. by law or inter-
national agreement, be changed, then
this provision shall be made To conform
TO such new ratio.
Se,, g. That silver bullion
deposited under this act shall be
received Subject to all the provisions
of law as to assaying, melting and
refining, when below standard, casting
in'n in-f"ts or bars, the same as If