The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1890-07-25


rest % the silver nNl - p1nanly Passed
~ Congress and which Nae oseeome =
Law BY kecelsing the slensears " the
President.
WASHINGTON. July 10. -Following 10
the text Of the silver bill which has be-
come a law BY receiving the signature
Of the President:
SECTION l. That the Secretary az the
Treasury j. hereby required to purchase
from time 90 time silver bullion to tho aggro.
gate amount ~ <~.sOo.oo) ounces per month";
or 90 much thereof ~ there may BE- ot.
fered Ia such months. at the market price
thereof. not exceeding II Tor every S7i ~ 100
grains Of pure silver. and to issue IN
pay mcnt for such purchases of silver
bullion treasury notes 81 tho United
states 10 be prepared BY the SEQ.
rotary Of the Treasury IN such form
and OF such denominations. not less than 81
nor more than >l.O0o. ~ he may prescribe
and a sum sufficient 70 carry into effect the
provisions Of this act Is hereby appropriate.
"a ont ~ any money In the treasury not
otherwise appropriated
Sec. 2 Tina the treasury notes issued In
accordance with the provisions Of this act
shall be rcdeemablc on demand In coin ~
the Treasury Of the United states or nt tho
ONCE o. amy Assistant Treasurer 81 tho
80 "*8 = Wf*8 W"& ~ 49, **** 80
be rcissued. but no greater or less amount
81 such notes shall be outstanding AZ any
time than the cost Of the silver bullion and
the standard silver dollars coined thcrefrom
then held in the TREASURY purchased by such
notes: and such treasury notes shall be :
legal tender IN payment OF all debts. public
and private. except where otherwise *.
pressly stipulated in the contract. and shall
be receivable for customs. X and all
public duties. and when so received may DO
reissued: and such notes. when held by nnv
National. banking association may be
counted as 4 part VI its lawful reserve.
That upon demand Of the holder Of any Of
the treasury notes herein provided for. tho
Secretary OF the Treasury shall. under such
regulations AS he may prescribe, redeem
such notes In gold or silver coinage At his
discretion. IL being the established policy
Of the United states to maintain the two
metals on "a parity with each other upon tile
present legal ratio. or such ratio as may be
provided by law.
See. X. That the Secretary OF the Trcasur,
shall each month coin 2.00O. 900 ounces Of sil
yer b-liion purchased under the provisions
ofthis act into standard silver dollars until
the LIST day OF July, 1891. and after that time
he shall coin o. the silver bullion purchased
under the provisions OF this net us much as
may be necessary 20 provide for the re.
demption OF the treasury notes herein pro.
yidei for, and any gain or seignoragc arts.
ing from such coinage shall be accounted
Tor and paid into the treasury.
Sec. T. That the silver bullion purchased
under the provisions Of this act shall be
subject 70 the requirements Of existing law
and the regulations OF the mint service gov
crning the methods OF determining tho
amount OF pure silver contained ana the
amount OF charges and deductions, II any.
70 be made.
Sec. s. That 50 much OF the act OF rebru-
airy y, 1878. entitled A act to authorize
the coinage Of the standard silver dollar
and TO restore rs legal tender character"
As requires the monthly purchase and coin-
age Of the same Into silver doll airs ~ not
less than >2.op,p0o. nor more than <i.0jl. Vp0,
worth 81 SiiveriS hereby repealed.
see. s That upon the passage Of this act
the balances standing with the Treasurer ~
the United states 70 the respective credits
81 National banks for dep ,sits made to re-
deem the circulating notes Of such banNs.
and ali deposits thereafter received for like
purposes shall be covered into the trca sury
asa miscellaneous receipt. and the Treas
nrer Of the United States shall redeem from
the general cash in the treasury the clrcu-
lating notes OF said banks which may come
into his possession subject 10 redemption,
and upon the certificate OF the C0ntroic. ~
the Currency that such notes have been
received by him and that they have been
destroyed. and that no ncw notes will be ~.
sued In their place. Reimbursement OF their
amount shall be made 20 the treasurer an
der sucn regulations as the Secretary u the
Treasury may prescribe from an appropriA-
ton hereby known as "Nat,onai bank notes
redemption account" but the provisions
Of this act shall not apply to tho deposits
received under section 5 Of tls act Of June
~. 1874. requiring every M onai bank 10
keep In lawful money with the Treasurer az
the United states a sum equal 70 . per
centum 81 is circulation. 20 be held aud
used for the redemption ~ is Z 'rcnlating
notes. and the balance remaining OF the az.
poslts so covered shall. at the close Of each
month. be reported on the monthly public
debt statement a. debt Of the United states
bearing no Interest.
Sec. !. That this net shall take effect thirty
days from and after rs passage.