Los Angeles daily herald., 1890-01-20
WINDOWS SILVER BILL.
The Embodiment of the
Administrators Ideas.
FULL TEXT OF THE MEASURE.
1t Authorizes the Issue of Treasury
Notes on the Deposit of
Silver Bullion.
Associated Press Dispatches to the HERALD.

Associated Press Dispatches to the HERALD.
WASHINGTON, January 19.--Following
is the text of the administration bill
prepared by Secretary Window, embody-
ing the silver measure proposed in his
annual report, and which will be intro
duced in both Houses of Congress dur
ing the coming week.
A bill authorizing the issue of treasury
notes on deposit of silver bullion.
Be it enacted, ETC., That any owner of
silver bullion, the product of the mines
in the. United States, or of ores smelted
or refined in the United States, may
deposit 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 pro-
vided for, equal at date of deposit to the
net value of such silver ct 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 country, or bars resulting from
melted or refined foreign silver coin,
shall be received under the provisions of
this act.
Section 2. That the Secretary of the
Treasury shall cause to be prepared
treasury notes in such an amount as
may be required for the purpose of the.
above section, and in such form and de-
nominations as he may prescribe, pro-
vided that no notes shall be of denom-
instion less than 81 nor more than
81, 900.
Section 3. That all notes issued under
this act shall be receivable for customs,
taxes and all public debts, and when re-
ceived into the treasury may be re-
issued and such notes, when held by
any national banking agency, shall be
counted part of it's lawful revenue.
Section 4. That notes issued under
the provisions of this act shall be re-
deemed upon demand at the Treasury of
the United States, by the issue of GER
tifca.es 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 l !; or such notes
may be redeemed in gold coin at the
option of the Government; provided that
at the option OF the holder such notes
shall be redeemed in silver dollars.
Section s.. That when the market
price of silver, as determined by the Sec
retary of the Treasury, shall exceed one
dollar for 1,25 grains for pure silver, it
shall be the duty of the Secretary of the
Treasury to refuse to receive deposits Of
silver bullion for the purposes of this act.
Section 6. That it shall be lawful for
the Secretary of the Treasury, with the
approval of the President of the United
States, to suspend temporarily the receipt
of silver bullion for treasury notes at
any time when he is satisfied that
through combinations or speculative
manipulations of the market the price
of silver is arbitrary, nominal or icti-
| tious.
Section z. That silver bullion depos-
tied under this act, represented by
treasury notes which have been re-
deemed in gold coin or in silver dollars,
may be coined into standard silver dol
lars or any other denomination of silver
coin now authorized by law for the pur-
pose of replacing the coin used in the
redemption of notes.
Section 8. That 80 much of the act OF
February %, 1873, entitled "An act to
authorizs the coinage of the standard sill
yer dollar and to restore it's legal tender
character" rs requires a monthly pur-
chase and coinage into silver dollars of
not less than 100000 nor more than
81 100000 worth of silver bullion, is
hereby repealed.
Section 8. That any gain or shrinkage
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 the existing law.
Section 10. That the silver bullion
received under the provisions of this act
shall be subject to the requirements of
the existing laws and regulations of the
mint service governing the methods of
receipt, determining the amount of pure
silver contained and the amount of
charges and deductions, if any, to be
made.
Section IL. That nothing in this act
shall be construed to prevent the pur-
chase from time to time, as may be re-
CURED, of silver bullion for subsidiary
silver coinage.
Section IL. That sum sufficient to
carry out the provisions of this act ia
hereby appropriated out of any moneys
in the treasury not otherwise appro-
priated.
Section 13. That all acts and parts of
acts inconsistent with the provisions of
this act are hereby repealed.
Section IA. That this act shall take
effect thirty days from and after it's
passage.