The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-01-20
WINDOWS SILVER BILL.
A MEASURE PREPARED IN AC-
CORDANCE WITH HIS REPORT.

It Authorizes the Issue of Treasury
Notes on Deposits of Silver Bullion
and Repeats the Bland Coinage
Law-The Secretary of the Treasury
to Determine the Price of Silver
Bullion.
WASHINGTON. Jan. 19.-The following is
the text of the bill prepared by Secretary
Window for presentation to congress au-
thorizing the issue of treasury notes on
deposits of silver bullion, in accordance
with the plan proposed in his report to
congress:
SECTION /. Be it enacted by the Sennte and
House Of Representatives of the United States
in congress assembled, that any owner OF silver
bullion, the product of mines of the United
States, or OF ores smelted or refined in the
United States, may deposit the same at any
coinage mint, or at any assay Office in the
United States that the Secretary of the Treas
urY may designate, and receive therefor
treasury notes hereinafter provided for equal at
the date Of deposit to the net value of such sill
yer, at the market price, such price to be deter
mined by the Secretary of the Treasury under the
rules and regulations prescribed, based upon
the price current in the leading silver markets
of the world; but no deposit consisting in whole
or in part of silver bullion or foreign silver
coins imported into this country, or bars re.
sulting from melted refined foreign silver
coins, shall be received under the provisions Of
this act
SEC. 2. That the Secretary of the Treasury shall
| cause to be prepared treasury notes in such
amounts as may be required for the purpose of
| the above section, and in such form and de-
! nomination as he may prescribe. PROVIDED,
that no note shall be of denomination less than
81 nor more than 81 900.
| SEC g. That the notes issued under this act
shall be receivable for customs, taxes, and all
PUBIC cues ana when received INTO the treasury
| may be reisSued, and such notes, when held by
/ any national banking association, shall be
| counted as part Of its lawful reserve.
| SEC. 4. That the notes issued under the pro-
visions of this act shall be redeemed upon de-
mand at the treasury of the United States, or
| at the office OF the assistant treasurer of the
United States by the issue of q certificate of de-
| posit for the sum of notes so presented, pay
| able at one OF the mints Of the United States,
| in amount of silver bullion equal in value on
| date of said certificate, to the number of dol
1 lars stated therein, at the market price of sill
yer, to be determined as provided in section 1;
| or such notes may be redeemed in good coin at
| the option Of the government, provided, that
upon the demand of the holder, such notes
| shall be redeemed in silver dollars.
| SEC. 8. That when the market price of sill
yer, as determined by the Secretary of the
| Treasury, shall exceed 81 for 371.25 grains Of
pure silver, it shall be the duty of the Secretary
| of the Treasury to refuse to receive deposits Of
| silver bullion for the purposes of this act.
Sec. 6. That it shall be lawful for the Secre-
| tary of the Treasury, with the approval of the
| President of the United States, to suspend,
temporarily, receipt of silver bullion for treas
| ury notes at any time when he is satisfied that
| through combinations or speculative mauipula-
Jion of the market, the price of silver is
| arbitrary, nominal or fictitious.
| Sec. z That silver bullion deposited under
this act, represented by treasury notes which
have been redeemed in gold coin or in silver
| dollars, may he coined into standard silver
| dollars or any other denomination of silver coin
now authorized by law, for the purpose of re-
placing coin used in the redemption of notes.
| SEC. 8. That so much of the act OF FeD. 28,
1878, entitled ''An act to authorize the coinage
of the standard silver dollar aud to restore its
legal tender character" as requires monthly
purchase and coinage into silver dollars OF not
less than 81, 100000, nor more than 81, 000 900
| worth of silver bullion is hereby repealed
Sec. Q. That any gain or seigniorage arising
| from the coinage which may be executed under
the provisions of this act shall be accounted for
| and paid into the treasury. as provided by ex-
| isting law.
SEC. 10. That silver bullion received under the
provisions Of this act shall be subject to the
requirements of existing law and regulations of
| the mint service, governing the methods of re-
ceiptS, determining the amount of pure silver
| contained. and the amount of charges or de-
| ductions, if any, to be made.
| SEC. II. That nothing in this act shall be
| construed to prevent the purchase, from time to
time as may be required, of silver bullion for
| subsidiary silver coinage.
| SEC 12. That sum sufficient to carry out
| the provisions ofthis act is hereby appropriated
| out of any money in the treasury not otherwise
| appropriated.
consistent with the provisions Of this act are
| hereby repealed
| Sec. Ia. That this act shall take effect thirty
| Gays from and after its passage.