The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-10
THE n

Senator Beck's Coin Certificate Bill and Sem
ator Aliison's Silver Bill.
WASHINGTON, Feb. 9.-The following is,the
full text of Senator Beck's coin certificate bill,
introduced today:
That hereafter coin certificates shall be issued
of any denomination for which legal-tender notes
of the United States may now be issued, and,
when received at the treasury, reissued as pro-
vided for in Section 2 of this act, aud all gold
and silver certificates now outstanding shall be
retired when they are received at the Treasury Of
the United States.
''Sec. 2. That it shall be the duty of the
Treasurer of the United States, upon the receipt
of an original certificate Of deposit issued by the
United States assistant treasurer, at any
United States sub-treasury, stating that there
has been deposited therein gold coin or standard
silver dollars of the United States, in the sum of
$40, or any multiple thereof, to order payment
of q like amount in coin certificates at the coun-
ter of any United States assistant treasurer des-
ignated by the depositor. In such denomination
as he might require in writing, which shall be
redeeinablein gold or silver coin, at the option of
1he United States.
Sec. 3. That no coin certificates shall be issued
OF q denomination greater than $500, and at least
two-thirds of such certificates outstanding at any
time shall be of denominations not exceeding
$50"
The following is the full text of Senator Ali
sons silver bill, introduced to-day:
THAT hereafter, any holder of silver coins of
full legal tender value. may. at his option, pre-
sent them in sums of $50 or any multiple thereof,
at the Treasury or the sub Treasury in the city
OF New York, and receive therefor in exchange a
like amount of gold coin or United States notes,
and any holder Of gold coin may in like manner
present tho same and receive therefor silver coin
of full legal tender value, or United States notes.
"Sec. 2. That sections 5193 and 1894 of the
revised statutes are hereby repealed, and the
words lawful money wherever used in the
statutes of the United States, shall be construed
to include United States notes, gold and silver
of full legal tender.
''Sec. 3. That all laws or parts of laws requir-
ing the lawful money deposited with the Treas
urer of the United States, as provided by Section
5222, Revised Statutes, to be held as a special
fund for the redemption of notes of the National
Banking Association. are hereby repealed, and
ali the money now deposited, or which may here
after be deposited, shall be covered into the
Treasury, and all sums now deposited or which
may hereafter be deposited with the Treasurer
of the United States. as authorized by Section 4
of an act entitled, AN act fixing the amount of
United States notes providing for a redistribu-
tion of the national bank currency, and for other
purposes approved June 20, 1874, shall be GOV.
cred into the Treasury.
Sec. 4. That Section 3 of the last-named
act is hereby amended so as to authorize the re-
demption of national bank notes in gold or sill
yer. and to authorize the deposit of gold or silver
in lieu of United States notes required to be de-
deposited by such section