Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-01-20
NATIONS CAPITAL.
WINDOWS Bill TO Issue Treasury
Notes for Silver Bullion
Which Will Do Away With the Compul.
sory Silver Coinage.
Death OF Solicitor General Chapman
New Public Buildings for Maine
Ohio Forgery Case-Psnsions.

WARRINGTON, Jan. l3.-The bill pre-
pared by Secretary Window for presenfs-
ton to Congress authorizing the issue Of
treasury -otes on deposits of silver bullion,
provides tina, any owaers of silver bullion,
the product Of mines in the United States
or ores smelted or re 6ued ia the United
States. may deposit the same al any coln-
age mint or assay office in the United
States, and the secretary of the treasury
may designate and receive therefor notes
equal At the date of deposit to the ret value
Of such silver. at market price, such price
to be determined by the secretary Of the
treasury, based upon the price current in
the leading silver markets of the world
No deposit consisting Of the whole or in
part of silver bullion or foreign silver
coins imported into this country, or bars
resulting from melted or refined foreign
silver coins, will be received under the
provisions of this act. The secretary of
the treasury shall cause to be prepared
treasury notes in such amounts az shall be
required for the above purpose, not less
than y nor more than $1,000.
Notes issued under this act received for
customs, taxes and all public dues when
received into the treasury may be reissued
and such notes when held by any national
banking association is counted as part of
its lawful reserve. Notes may be redeem
ed upon demand at the treasury of the
United States or at the office of assistant
treasurer Of the United States by the issue
of certificates of deposit payable at one of
the mints of the United States in the
amount of silver bullion equal in value On
the date of said certificate. to the number
of tnllara sfataJ NJ tha rkat
price of silver or the notes may be re-
deemed in gold coin at the option Of the
government; upon demand Of the holder
notes may be redeemed in silver dollars.
When the market price of silver as deter
mined by the Secretary of Treasury. shall
exceed one dollar for 81 25 grains Of pure
silver, it ,hali be the duty of he Secretary
of Treasury to refuse to receive deposits
of silver bullion for the purposes of this
act
The Secretary of the Treasury, with the
of the President of the United
States, may suspend temporarily, the
receipt of silver bullion for treasury notes
at any time when he 10 satisfied that,
through combinations or speculative man
ipulation, the market price Of silver is ar
bitrary, nominal or fictitious. Silver bullion
dlsposited under this act, may be coined in
to standard silver dollars or any other de-
domination silver coin now authorized by
law, for the purpose of replacing any coin
used in the redemption of notes.
SO much of the act Of February 28, 1878, |
authorizing the coinage Of standard silver
dollar and restoring its legal tender char
scter, as requires monthly purchase and
coinage into silver dollars of not less than
S3 600 900 nor more than "a 600 900 worth |
Of silver bullion, is hereby repealed.
Any gain or seigniorage arising from
coinage under the provisions of this act to |
be accounted for aud paid into the treasury
As provided by existing laws.
Silver bullion received under the pro-
visions Of the act subject to the require
ments OF existing law and regulations of
mint service. Nothing in the act to be
To prevent the purchase. as may
be required, of silver bullion for subsidiary (
'ilver coinage. A sum sufficient TO carry !
)ut the provisions of the act TO be appro-
orlated from any moaey in the treasury not
otherwise appropriated.