Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1890-01-20
WINDOWS SILVER BILL.
Full Text of the New Admins.
tration Measure.
WILL SECRETARY BLAINEREsIGNg

Death and Other heasone May Bring |
About the Resignation of the Head Of
the State Department..
WASHINGTON, Jan. 20-The following is !
the text of the administration bill, prepared
by Secretary Window, embodying the silver
measure proposed in his annual report, and
which will be introduced in both the house
and senate during the coming week and
probably today:
"a bill authorizing the issue of treasury
notes on deposits Of silver bullion.
''Section1. Thatany owner Of silver bullion,
product Of the mines Of the United States, OF
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 treasury notes
hereinafter provided, equal at the date Of
deposit 20 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 OF in port Of silver bullion or foreign
silver coins imported into this country, or
bars resulting from melted or refined foreign
oliver coins, shall be received under the pro
visions of this act
The Issuance of the Notes.
''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
an M ha
scribe: Provided, that no notes shall be of
a denomination less than one dollar nor
more than one thousand dollars.
''Sec. 8. That the notes issued under this
act shall be receivable for customs, taxes
and oil public dues, and when received into
the treasury may bereissued, and such notes,
when held by any national banking associa-
ton, shall be counted as part of its lawful
reserve.
''Sec. 4 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 treasurer Of
the United States, by the issue of a certif-
cate Of deposit for 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
certificate TO the number Of dollars stated
therein, at the market price of silver, to be
determined as provided in section 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 price of
silver, as determined by the secretary Of the
treasury, shall exceed one dollar for 81. 25
grains Of pure silver, it shall be the duty Of
the secretary Of the treasury to refuse 10
receive deposits of silver bullion for the
purpose Of this act.
A Safeguard Against Schemes.
''Sec. G. That it shall be lawful for the
secretary 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 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 eactof Feb. %,
| 1873, entitled, An act to authorize the coin
age Of the silver dollar and to restore its
legal tender character, as requires the
monthly purchase and coinage into silver
dollars of not less than g., ,0OO,O nor more
than S4,000,OO0 worth Of silver bullion, is
| hereby repealed
The Concluding Sections.
The concluding sections are as follows:
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 existing law. That silver bullion re-
ceived 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, determin-
ing the amount OF pure silver contained,
and the amount of charges or reductions. if
any, to be made. 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 silver coin
age. That a sum sufficient to carry out the
provisions of this act is hereby appropriated
out Of any money In the treasury not other
wise appropriated. That all acts and parts
OF acts inconsistent with the provisions Of
this act are hereby repealed. That this act
shall take effect thirty days from and after
| its passage