The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1890-01-23
ron FREE SILVER.


Text Of ssrretary Windom's Coinage
b 1Gsssurs Sees - ns Laid Before Con
| 6ress-
WASHINGTON, ian. 30. Secretary Win
dom has completed the preparation Of
tho administration silver bill. which
|embodies measures proposed in his an
nusl report It will be introduced in
both the House and the Senate during
the week, and naturally will attract
widespread attention. The text of the
bill Is as follows. 30
.Be II enacted, etc, That any owner OF silver
bullion, the product OF tho mines Of the United
States, or Of ores smolted or refined in tho
United States, may deposit the same
at any coinage mint. or at any assay
once Of tho united States that tho
Secretary q the Treasury may desi9.
nate, and receive therefor Treasury notes nero.
matter provided for equal ct the date Of deposit
I Of the net value OF such silver at the market
price, such price to DO determined by the Score
taryof the Treasury under rules and regulations
prescribed, based upon prices current In the
leading silver markets Of the world; but no de-
posit consisting In whole, or In part Of silver
bullion foreign silver coins imported into this
country. OF barssresuiting from melted or re-
fined foreign silver coins shall be- received
under the provisions Of this oct, ~ ? j. - +
"Sec 9. That the Secretary of the Treos-
ury shall osuse to be prepared Treasury notes
in such amounts as may be required for the
purpose of the above section, and In such form
and denominations % no may prescribe; pro-
vidGd that NO notes shall be Of . denomination
less than ono dollar or more than 81 600
Sec. 8 That tho notes issued under this act
shall be receivable for customs, taxes and all
public debts, and when received into the Treas.
ury may be reissued, and such notes when held
by any National banking association shalt be
counted as part OF its lawful reserve.
"sec. T. That the notes issued under the pro-
visions OF this act shall be redeemed upon do.
mand at tho Treasury Of the United States
or OF the once Of IN Assistant Treas
Eurer ,of tho United States by the issue
OF certificate Of deposit for the sum Of the
notes 20 presented payable at one Of the
mints Of the United States in an amount
Of silver bullion equal in value on the date of
the said certificate to the number Of dollars
stated therein at the market price of silver, ia
be determined rs provided in Soc. /; OF such
notes may be redeemed In gold coin at the op.
ton Of the Government; provided, that upon
demand Of the holder such notes shall be ro-
deemed In silver dollars.
"Sec. g. That when the market price Of silver,
- determined by the Secretary Of the Treasury,
shall exceed one dollar for 7l2l grains for pure
| silver, it shall be the duty Of the Secretary Of
the Treasury to refuse to receive deposits Of sill
yer bullion for the purpose Of this act
"Sec. g. That it shall be lawful for the Secre-
tary Of the Treasury with the approval Of the
President of the United States to suspend, tenn
porarily, the receipt Of silver bullion for Treas.
ury notes at any time when he Is satisfied that
through combinations or speculative manipula-
ton Of the market the price Of silver is ar
bitrary, nominal or fictitious.
"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 sill.
yer dollars or any other denomination of silver
coin now authorized by law. for the purpose OF
replacing the coin used in the redemption OF
the notes.
"Sec. g. That 50 much Of the act of February
q, 1873, entitled an act to authorize the coin.
age Of the standard silver dollar and to restore
its legal-tender character as requires the
monthly purchase and coinage into silver dol.
lars Of not less than 100000, nor more than
a, 00O, 900 worth Of silver bullion. is hereby re-
pealed."
The act is to go into effect thirty days
after it's passage.