Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1890-01-27
The Silver Question.

One of the troublesome questions
which has been more or less promi-
nent for several years is in regard to
silver coinage. The west generally,
is in favor of the free coinage Of sill
yer, but this plan is opposed by con-
servative financiers on the ground
that, while it might make money
plenty, it would in the end depreciate
the value of silver to such an extent
that either it would drive gold out of
ejaculation or make a double stand
ard, which would be very inconven-
lent to say the least.
Secretary Window in his report
advocated plan which has been en-
bodied in a bill, the substance of
which we give below. The bill seems
to have considerable merit and may
be the best plan for disposing of the
question. 1t is likely to receive
strong support in Congress.
Be it enacted by the Senate and
House of Representative of the Uni
ted States in Congress assembled,
that any owner of silver bullion, the
products 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 any
assay office in the United States that
the Secretary Of the Treasury may
designate, and receive therefor treas
ury notes herein after provided for
equal at the date 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 markets of the world
but no deposit consisting 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.
Section two.-That the Secretary
of the Treasury shall cause to be pre-
pared 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-Icube: provided, that no notes
shall be of a denomination less than
81, or more than $1,000.
Section three.-That the notes is
sued under this act shall be received
for customs, taxes and all public dues,
and when received into the treasury
NAV be reissued and such notes, when
held by any national banking associ-
alton, shall be counted as part of its
lawful reserve.
Section four.-That the notes is
sued under the provisions of this act
shall be redeemed upon demand at
the treasury of the United States or
at the office of the Assistant Treas
urer of the United States by the issue
of the certificate deposit of the sum
of the 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 certii-
cate, to the number of dollars stated
| therein, at the market price Of silver
to be determined as provided in sec
ton 1 or such notes may be re-
deemed in gold coin, at the option of
the government. Provided, that up
on demand of the holder, such notes
shall be redeemed in silver dollars.
Section five.-That when the mar
ket price of silver, as determined by
the Secretary of the Treasury, shall
exceed one dollar for 371.27 grains
of pure silver, it shall be the duty of
the Secretary to refuse deposits of
silver bullion for the purposes of
| this act.
Section six.-that it shall be law
full for the Secretary of the Treasury,
with the approval of the President of
the United States, to suspend, tenn
porarily, the receipt of silver bullion
for treasury notes at any time when
he is satisfied that through combina-
tions or speculative manipulation of
the market, the price of silver is ar
bitrary, nominal or fictitious.
Section seven.-That the silver
bullion may be coined into stand
ard silver dollars or any other de-
nomination of silver coin now author
lied by law, for the purpose of re-
placing the coin used in the redemp-
ton of the notes.
Section eight.-That so much of
the act of Feb. %, 1873, entitled
can act to authorize the coinage of
the standard silver dollar and to re-
store it's legal tender character" as
requires the monthly purchase and
coinage into silver dollars of not less
than $4,000, 200 nor more than S4,-
100000 worth of silver bullion, is
hereby repealed.
Leading physicians recommend Ayers Sarsa-
parilla. Old and young take it with perfect safe
ty 1t cleanses the blood, strengthens the nerves,
and vitazes the system. Popular experience has
long placed this medicine at the head of tonic al
teratives.