The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1890-06-13
THE SILVER BILL
Provisions of the silver Bill As Agreed
Upon BY the Honse Republican Caucus.

Provisions of the Silver Bill As Agreed
Upon BY the Honse Republican Caucus.
WASHINGTON, June 6.-Following is
the text of the Silver bill agreed upon
by the Republican caucus and substi-
tuted Yesterday in the House for the bill
already pending:
Be it enacted by the Senate and House OF
Representatives Of the United States OF
America in Congress assembled, at the
Secretary OF the Treasury is hereby directed
to purchase from time to time silver bullion
to the aggree ate amount OF $45 1900 worth
of fine silver In each month, at the markes
price thereof, not exceed ng 31L25 grains OF
pure silver. and to issue in payment fer such
purchase OF silver bullion tire lsury notes OF
the United StIt s to be prepared by the rec
rotary of the Treasury in such form and OF
such denominations, not less than 81 nor
more than $40 o. as he may prescribe, and a
sum sufficient to carry into effect the pro-
visions of this act is hereby appropriated
out of any money IN the treasury not DINER
wise appropriated.
Sec q That the treasury notes issued In
accordance with the provisions of this act
shall be redeemaoie on demand, in coin, at
the treasury of the United states or at the
office of any assistant treasurer or the
United States and when SO redeemed may
be reissued; but no greater or less amount
of such notes shall Q out<tandlng al any
time than the cost of the silver bullion then
feld in the treasury purchased ny said notes.
and such treasury notes shall be legal ZEN
der in payment of NIL debts, pubic and pri-
vate except when otherwise expressly stipu-
lated in the contract, and shall be receivable
for customs, taxes and all public dues, and
when so received may be reissued; and such
notes when held by any National banking
association may be counted as II part of its
lawful reserve; p divided, that upon demand
of the holder of any of the treasury notes
herein provided, the Secretary of the Treas
ury may at his discretion aud under such
regulations as he shall prescribe. exn hange
for such notes an amount of silver bullion
which shall be equal in value at the market
price thereof on the day of exchange to the
amount of such notes presented.
Sec. g. That the Seer tary of the Treasury
shall coin such portion Of the silver bullion
purchased under the provisions of this act
as may be necessary to provide for the re-
demption of the treasury notes herein pro-
vided for and any gain or seign rage arts
ing from such coinage shall be accounted
for and paid into the treasury.
Sec. 4. That the silver bullion purchased
under the prov isions of this act shall be sub
iect to the requirement of existing law and
the regulations of tn m mt service govern
ing the methods of determining the amount
of pure silver contained and the amount OF
charges or deduct on IL any, to be made.
Sec s. That so much of the act of February
| %, 1875, entitled ian act to authorizes the
coinage of the standard silver dollar and to
restore Its legal tender character" re-
| quires the monthly purchase and coinage OF
the same into silver dollars of not less tina Z
| 100000 nor IN re than 100000 worth of
| silver bullion, is hereby repea ed.
Sec. 6. That whenever thu market price of
| silver as determined in pursuance of Sec
ton of this act is 81 for S7l.25 grains of pure
silver It shall be lawful for the owner of any
silver bullion to deposit the same at any
| coinage mint OF the Uni ed States to be
| coined into standard silver dollars for his
| benefit, as provided in the act of January
| IS, 1877.
Sec. Z. That upon the passage of this act
! the balances standing with the Treasurer of
the United states to the respective credits
of National banks for deposits made to re
deem the circulating notes of such banks,
and all deposits thereafter received for like
purposes shall be covered into the treasury
as a miscellaneous receipt; and the Treas
urer of the United States shall redeem from
| the general cash in the treasury the cir
culating notes of said banks which may
come into his possession subject to re.
| demption; and upon the certificate of the
Comptroller of the Currency that such notes
| have been received by him and that they
have been destroyed and that no new notes
| will be issued in their place reimbursement
of their amount shall BIS made to the
| Treasurer, under such regulations as the
| Secretary of tn . Treasury may prescribe
| from appropriations hereby created, to be
| known as ''National bank notes -demptiou
| account" lut the provisions of This act sh ali
not apply to the deposits receiv under
section of the act of June 20, 1874. requiring
every National bank to keep in lawful
money with the Treasurer of the United
| States sum equal to per cent. of its ciFcu
| lation, to be held and used for the redemp
| ton of its circulating notes, and the balance
remaining of the deposits SO covered Mt the
close of each month be reported on the
monthly public statement as debt of the
United States bearing no interest.
Sec. g. That this act shall take effect thirty
days from and after its passage.