The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1885-09-26
THE SILVER BILL.
JoNADAD WARNER
And His Scheme of oOmprOmlrs-NSu
Glasses Of Certificates Propo'ed-TrsAs.
uryto Regulate tho COINAGE of Stan.
dnrd DOllars-rhs Trade Dollar.

NKw YoRK, Sept. 25.-General A. ].
Warner, OF Ohio, has been here for three
days to explain and perfect his proposed
silver bill 10 take the place Of the Bland
bill. He has had conferences with leading
bankers and business men, as well as poll
ticians. some time ago he went to Grey
stone and explained his views to Mr.,
Tilden, who is reported as having en-
dorsed the main principle OF the bill.
Secretary Manning is likewiss reported as
having accepted its provisions as relief
for the Administration. In this view the
full text OF the bill, which is herewith
presented, becomes highly important to
the country. 1t came into the possession
OF correspondent through New York
banker and is the bill, as 1t now stands,
subject IN notifications that may be in
duced by criticism between this time and
the meeting Of Congress.
4 bill to provide for Ihe isGe Of TfeaHlry GER
tifcate8 on dPoUised siirsr bullion and for
Other purpoYs.
Be 1t enacted by the Senate and the
Honse Of Representatives OF the United
States OF America, in Congress assembled,
that any holder OF silver bullion may de-
pnsit the same with the TTessureror any
Assistant Treasurer OF the United States
in amounts OF not less value than $40, and
receive therefor certificates in depomina-
tions OF $40 and multiplas Of Sl0;prepared
as now provided by law for United,Stat
notes. Such certificates shall be received
at par in all parts OF the United States for
customs, taxes aud all other public dues,
and may bs deposited in National banks
for the redemption Of circulating notes
and Rhsll bs q legal tender between
National banks, and shall also be legal
tender in payment oil all debts and da-
mands, owing by the United States except
where paymentin coin is expressly stipu-
lated. They shall be redeemable on pre-
sentAtion at the Treasury, or Sub.treasury,
in the city OF New York, in lawful money,
or at the option Of the Secretary OF the
Treasury in silver hullion at ita market
value at the time OF redemption.
vALUTYG THE SILVER.
SEC. Q. The value or ratio to gold at
which 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 by tho
Secretary OF the Treasury ior each calen-
dar mouth, by taking the average selling
price Of silver bullion so expressed In gold
dollars in the open market In New York
City during the preceding month, which
price, 30 determined, shall be the value or
ratio to gold at which certificates shall be
Issued during the succeeding month. Or
;hs market value may be determined for
each day, as follnTs: The value or ratio TO
gold at which certificates shall be Issued
on silver bullion deposited under this act
shall be ita ac:ual ratio or market value at
the time OF deposit, to be determined BY
the Secretary Of the Treasury for each day
by taking the mean selling price Of silver
bullion in the open market in New York
city in gold dollars on the first preceding
day on which actual sales were made, or
substitute London for New York and de-
duct from the London price the cost Of
transporting silver bullion between New
York and London.
The price at which silver bullion shall
be delivered in the redemption OF certif.
Gates shaIl be- the price at which at the
same time it is being received-provided
that certificates shall not be Issued OF silver
bullion at value above the ratio OF silver
to gold as now hxed by law for standard
gold and silver coipsi and II, at any time,
silver bullinn Yises to value equal 10 the
ratio Of the two metals In existing stand.
ard coins, then any holder OF silver bullion
may at his option receive certificates for
| It as provided in this act or have the same
coined at that ratio into standard silver
dollars or half dollars OF the weight herein
after provided, on the came terms and
conditions as provided by law f1r the
coinage of gold but il hereafter tho ratio
Of silver to gold in standard coins shall
by law or international agreement, be
changed, then this provision shall be
made to conform to such new ratio.
FOREIGN SILVER EXCLUDED.
SEC. 8. That silver BULLION deposited
under this sut shall be received subject to
all the pFqvisions Of law as to aSsayIng,
melting and refining when below standard
casting into ingots or bars, the same as il
deposited for coinage; provided, that coin
struck at Earopesu mints and ingets and
bars made by melting down such coins
shah be excluded from the provisions oi
this act,
SEC. 4. When any Of the certificates
herein authorized are redeemed in silver
bullion they shall he cancelled aud de.
stroyed, but certificates which come back
into the Treasury by being received for
/ "a, ,,Thltn nv ",
change for lawful money shall not be can
celled, but shall be held as cash, and may
be reissued or paid out again No current
money for all debts and demands owing
by the United States, except where pay
ment In coin is expressly stipulated.
SIC. 8. That on the taking effect OF this
act the monthly coinage OF silver dollns,
under the act Of February 2S, 1873, shall
be stopped, and In liOu OF such monthly
coinage the Secretary Of tho Treasury ia
hereby authorized aud required to cause
the coinage, from time to time, OF standard
silver dollars from bullion deposited under
this aot, In amounts sufficient to supply
any demand that may arise for coined dol.
lars for circulation, or that may be re-
Quired TO pay the coin obligations OF the
government; providing that, conpurrently
with the coinage Of any silver bullion for
which certificates have be issued under
this act, the Secretary OF the Treasury
shall cause to be destroyed certificates
equal in value 10 tha bullion 90 coined at
tile time Of ita deposit.
SMALL NOTES STOPPED.
SEC @. There shall be no further issue or
reissue Of S. national bank notes, nor Of
81 and 81 United sates nptesi but notes
Of larger determinations may be issued in
place Of the S. national bank notes re,
tired, aud the total amount Of United
States notes, as now fixed by law, shall be
kept up by guhstitltinR notes Of higher
determination for 81 and So notes.
SIC. Z. In addition 10 the denominations
Of silver certificates provided for by the
| acf nf EahrnaFv 1g 1873 theFa shall ho In.