Huntsville gazette., 1890-01-25
SECRETARY WINDOWS BILL.
TEXT OF the Bill Prepared by Secretary
window Authorizing the Issue of Treas
ury Notes Deposits of Silver Bullion.

WINDOW Authorizing the Issue of Treas
ury Notes on Deposits of Silver Bullion.
WASHINGTON, Jan. 20.-The following
Is the text of bill prepared by Secre-
tary Window for presentation to Con-
gress authorizing the issue of treasury
notes on deposits of silver bullion, in
accordance with the plan proposed in
his report to Congress:
Be it enacted by the Senate and House of
representatives of the United States in Con-
gress assembled, That any owner of silver
bullion, the product of the 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 assay Office in
the United States that the Secretary of the
Treasury may designate and receive there
for treasury notes hereinafter provided
for equal at the date of deposit to
the net value of such silver at the
market price, such price to be determined
by the Secretary of the Treasury under
rules and regulations prescribed, based upon
the price current in the leading silver mar
ketS of the world. But no deposit consist
ing in whole or in part of silver bullion, or
foreign silver coins imported into this coun-
try. or bars resulting from melted or 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 denominations as he may pre-
scribe, provided that no note shall be of any
denomination less than 81 nor more than
200.
Sec. 8. That the notes issued under this act
shall be receivable for customs, taxes and
all public dues, and when received into the
treasury may be reissued, and such notes
when held by any National banking associa-
tion shall be counted as part of its lawful re-
serve.
Sec T. That the notes issued under the
provisions of this act shall be redeemed
upon demand at the Treasury of the United
States or at the Office of an assistant treas
urer of the United States by the issue of a
certificate of deposit for the sum of notes so
presented, payable at one of the mints of
the United States in an amount of silver
bullion equal in value on the date of said
certificate to the number of dollars stated
therein, at the market price of silver, to be
determined as provided in section l, or such
notes may be redeemed in gold coin at the
option of the Government, provided that
upon demand of the holder such notes shall
be redeemed in silver dollars.
Sec 5. That when the market ice of sill
yer. as determined by the Secretary of the
Treasury, shall exceed 81 for 371.25 grains of
tary of the Treasury to refuse to receive the
deposits of silver bullion for the purpose of
this act
Sec 6. That it shall be lawful for the Sec
retary of the Treasury, with the approval of
the President of the United States, to sus-
pend temporarily, the receipt of silver bull
ion for treasury notes at any time when he
is satisfied that through combinations or
speculative manipulation of the market the
price of silver is arbitrary, nominal or ficti-
tious
Sec. Z. That the silver bullion deposited
under this act, represented by treasury notes
which have been redeemed in gold coin or in
silver dollars, may be coined into standard
silver dollars, or any other denomination of
silver coin now authorized by law, for the
purpose of replacing the coin used in the re-
demption of the notes.
Sec s. That so much of the act of February
2S, 1878, entitled can act to authorize the
coinage of the standard silver dollar and to
restore its legal tender character" as re-
quires the monthly purchase and coinage
into silver dollars of not less than $2,0OO0O0
nor more than 81, 900 900 of silver bullion, is
hereby repealed.
Sec 9. That any gain or coinage aris-
ing from the coinage which may be exc
cuted under the provisions of this act shall
be accounted for and paid into the treasury
as provided by existing law
Sec. 10. That silver bullion received under
the provisions of this act shall be subject to
the requirements of existing law and the
regulations of the mint service, governing
the methods of receipt, determining the
amount of pure silver contained and the
amount or charges of deductions, if any, to
be made.
Sec IL. That nothing In this act shall be
construed to prevent the purchase from
time to time as may be required, of silver
bullion for the subsidiary coinage
Sec. II. That a sum sufficient to carry out
the provisions of this act is hereby appro
priated.
Sec. 13. That all acts and parts of acts in
consistent with the provisions of this act
are hereby repealed.
Sec. IA. That this act shall take effect thirty
days after it's passage.