The Democrat. (Scotland Neck, Halifax Co., N.C.) 1884-1896, 1890-06-26
EEsEI SEE4KF2te FsEg.H..

The following is the text of the
bill for the free coinage Of silver as
passed by the Senate:
SECTION 1.--That from and after
the date of the passage of this act
the unit of value in the UnltedStates
shall be the dollar and the same may
be coined of four hundred and twelve
and one half grains of standard silver
or Of twenty-five and eighteenth
grains of standard gold; and the
said coins shall be legal tender for
all debts, public or private; that
thereafter any owner of silver or
gold bullion may deposit the same
at any mint of the United States to
be formed in standard dollars or
bars for his benefit and without
charge; bus it shall be lawful to re-
fuse any deposit of less value than
one hundred dollars or any bullion
so base as to be unsuitable for the
operation OF the mint,
Sec. 2.-That the provisions Of
section 3 Of an act to authorize the
coinage OF the standard silver dollar
ana to restore its legal tender char
acter which became law February
%, 1878, is hereby made applicable
to the coinage in this aot provided
for.
SEC, 3.-That The certificates pro-
vidcd for 10 the second section of
this act and all silver and gold GER
tilicates already issued shall be Of
denominations Of not less than one
or more than 500; and euoh certif-
Gates shall he rcdeemable il coin of
standard value. A sufficient sum TO
carry cut the provisions OF tuis act
is hereby appropriated out Of any
money IN the Treasury not other
wise appropriated, Tne provision in
section one Of the act Of February
%, 1873, entitled "An act to authors
lie the coinage OF the standard silver
dollar and to restore its legal tender
character" which requires the Sec
rotary of the Treasury to purchase at
the market price thereof not less
than two million dollars worth OF
silver bullion per month, nor more
than four million dollars worth per
month of such bullion is hereby re
pealed.
SEC. 4.-That the certificates pro
vlded for in this act and all silver
and gold certificates already issued
shall be receivable for all taxes and
dues to the United States of every
description and shall be legal tend
er for the payment Of all debts, pub
lie and private.
SEC. 1.-The owners of bullion de-
posted for coinage shall have the
opportunity to receive coin or its
equivalent in the certificates provid
ed for in this act; and such bullion
shall be consequently coined.
SEC. 6.-Tbat upon the passage o
this act the balances standing will
the Treasurer Of the United State:
to the respective credits of nationa
banks for deposits made TO redeem
the circulating notes of such banks
and all deposits thereafter received
for like purposes shall be covered il
the Treasury as miscellaneous re
Ceipt, and the Treasurer Of the Unite;
States shall redeem from tie genera
cash in the Treasury the cIrCulatin,
notes Of said banks, which may com
into his possession subject to re
demption ; and npon the certifcat
of Comptroller Of the Currency tina
/ such notes have been received b
him, and that they have been de
stroyed, and that no new notes vii
be issued il their place, reimburse
ment of their amount shall be mad
to the Treasurer under such reguls
tions as the Secretary Of the Urea;
ury may prescribe, from an appr0pr
alton hereby created, to be know
as ''NatiOnal bank notes: Redemr
tion account ;" but the provisions {
this act shall not apply to the d.
, posts received under section {
the act Of Jude %, 1874, re1urin
every national bank TO keep in Law
full money with the treasurer Of th
United States a sum equal to fv
per cent Of its circulation, to be bel
] and used for the redemption Of it
r circulating notes and the balance II
naming Of the deposits so coyere
shall. at the close of each month, b
reported on the monthly public det
! statement as debt Of the Unite
States bearing no interest.
The title of the bill vas amende
go as to read -
"An act to provide for the fre
coinage of gold and silver bulllt
| and for other purposes"