Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1890-01-23
The SILVER BlLL.
The Administration silver Blii Prepared
by Secretary wlndom--Oniy Native silver
To be Used la the Coinage.

The Administration silver BiiI Propared
| by Secretary Wlndom--Oniy Native Silver
10 be Used la the Coinage.
WAsmNGTON, Jan. 20. The following
is the text Of tho Administration bill
prepared by Secretary Window, en-
bodying the silver measure proposed In
bis annual report and which will be In
troduced in both House and Senate dur
ing the week:
A bill authorizing the Issue Of treasury
notes on deposit Of silver bullion. Re IL en-
acted, etc, that amy owner of silver bullion.
the product OF the mines Of the United states
or OF ores smelsed or refined In the United
States may deposit the same at any coinage
mint or at any assay oiiice In tho
United States that the Secretary of
the Treasury may designate and
receive therefor treasury notes hereinafter
provided for, equal at the date Of deposit. 70
the net value of such silver AT the market
price, such price 70 be determined by the
Secretary OF the Treasury under rules and
regulations prescribed, based upon the price
current IN the leading silver markets Of the
world but no deposit consisting ia whole or
In part OF foreign silver bullion or foreign
silver coins imported into this country, or
bars resulting from melted or refined foreign
silver coins shall be received under inc pro
Visions Of this act.
Sec. a. That the Secretary Of the Treasury
shall cause TO be prepared treasury notes 10
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 notes shall DC OF
denomination less than 81 nor moro than
81 600.
see s. The notes Issued under this act shall
be receivable for customs, taxes and all pub
lie debts and when received into the treas
A.. ftr4r
held by any National banking association
shall bo counted as part OF its lawful reserve.
Sec. & 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 ofilce OF AN Assistant Treas
urer Of the United States by th Q issue of
certificate of deposit for the sum Of the notes
80 presented. payable at one OF the mints OF
the United states, in amount of silver bui.
lion equal to value, on the date OF said GER
thcate, to the number OF dollars stated
therein at the market price OF silver TO be
determined as provided In section l; or such
note may be redeemed in gold coin nc the
option OF the Government; provided. that
upon demand of the holder, such notes shall
be redeemed In silver dollars
Sec. 8. That when the market price OF
silver as determined by the secretary OF the
Treasury, shall exceed one dollar for 6LH
grains OF pure silver, IL shall be the duty OF
the Secretary Of the Treasury 70 refuse TO re'
ceivo deposits Of silver bullion for the pur'
poses OF this act.
See. 6. That It shall be lawful for the secre-
tary of the Treasury, with the approval OF
the President of the United states, to sus'
pend, temporarily, the receipt OF silver bull
lion for treasury notes at auy tinc when he
Is satisfied that through combinations OF
speculative manipulation Of the market, the
price Of silver is arbitrary, nominal or ncti-
tious.
Sec. 7. That the silver 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 bylaw, for the purpose
Of replacing the coin used in the redemption
Of the notes.
See. $. That so much OF the act Of Febru.
ary n, 1873, entitled "An act 20 authorize the
coinage OF the standard silver dollar and tc
restore Its legal tender character" as re-
quires the monthly purchase OF and coinage
Into silver dollars Of not less than s1,OOo,00
nor more than A000-0OO worth OF silver bull
ion, Is hereby repealed.
See. 9 That any gain or seignorage arising
from the coinage, which shall be executed
under the provisions OF this act. shall be
paid into the treasury as provided by exist
ing law.
Sec. 10 That silver bullion received under
the provisions OF this act shall be subject &c
the requirements OF existing law and tht
regulations of the mint service governing
the methods OF receipt and the amount OF
charges and deductions, II any, to be made,
Sec. II. That nothing In this act shall be
construed 20 prevent the purchase from time
to time, as mag be requ red, of silver bullion
for the subsidiary silver coinage.
Sec. r. That a sufficient sam to carry outth
provisions OF this act is hereby appropriated
NJ "a "a bp
wise appropriated.
Sec l8. That all acts and part OF acts in
consistent with the provisions OF this act are
hereby repealed.
Sec "A. That this act shall take effect
thirty days from and after its passage.