The Portland daily press., 1890-06-18
THE BILL.
THE BILL.
Text of the Measure AS 1t Passed
the Senate.

WASHINGTON, June 17.-In the Senate to-
day, after the transaction of unimportant
business, the House silver bill was taken up
and Mr. Wolcott addressed the Senate in ad-
vocacy of immediate silver legislation. He
criticised the unfriendly attitude of the adt
ministration toward the silver question. A
the conclusion of Mr.. Wolcotts speech, the
Senate proceeded to vote on the amendments
reported by the finance committee. The
first was to strike out the provision that
treasury notes issued for the purchase of sill
yer shall be legal tender in payment of all
debts, public and private. This was reject
ed-yeas, IA; nays, 30; and the provision re-
mains in the bill. Messrs. Frye and Hale
voted yea. The amendment to strike out
the bullion redemption clause was agreed to
yeas, 81; nays, = MessEs. Frye and and, Hale
the sixth section for the free coinage of sill
yer when the price of dollar is 3715 grains
Of pure. silver was rejected-yeas, 16; nays,
46. and the section was retained Messrs.
providing that the act shall terminate at the
expiration of ten years was re1ected-yeas,
4; nays, Ga. The yeas were Messrs. Chand-
Ter, Edmunds, Morrill, and Sherman.
Mr.. Blair offered an amendment limiting
the amount of silver to be coined to So
month; reiected.-yeas, p; nays, 46
On motion of Mr.. Plumb. the following
House bill-yeas, 43; nays, "a:
From and after the date of the passage Of this
act the unit of value in the United States shall be
the dollar, and the same may be coined OF 4l21s
ard geld Said coins shall be legal tender for all
debts, public or private. Any owner of silver or
gold bullion may deposit the same at any mint in
the United States, to be formed into standard dol
lars. or bars for his benefit, without charge, but
it shall be lawful to refuse any deposit of less val
ue than S10o, or any bullion so base as to be un-
suitable for the operations OF the mlnt
Mr.. Frye vote nay After spicy debate,
in which Messrs. Edmunds, Plumb and
Vest participated, and the adoption OF vari-
GUS amendments, the bill was reported to the
Senate and all the amendments agreed to in
committee of the whole were agreed to in the
Senate-yeas, 40; nays. 20.
Mr.. Chandler moved to insert the follow
Ing amendment: mo gold or silver bullion
shall be received by the treasury department
under this act except such as shall be shown
to be the product of mines within the United
States" Mr.. Teller moved to lay the amend
ment on the table agreed to-yeas, AZ; nays,
25. The bill as amended passed-yeas, AZ;
nays, %. Messrs. Frye and Hale voted nay.
The following is the text of the silver bill as
it now stands:
Section 1.-From and after the passage of this
act the unit of value in the United States shall be
the dollar, and the same may be coined of 4121s
grains standard silver or 20 $40 grains standard
gold. The said coins shall be legal tender for all
debts, public or private. Thereafter any owner
any mint of the United States to be formed in
standard dollars or bars for his benefit, without
charge; but it shall be lawful to refuse any de-
post Of less value than $ioo, or any bullion so
base as to be unsuitable for the operations of the
mint. a.
the act to authorize the coinage OF the standard
| silver dollar and rest ore Its legal tender charac-
%1ca ma aw 70 e ecnaee 5 IN ac
Section 3-The certificates provided for in
and all oil fYnlA
| tlicates already issued shall be of denomina-
tiOns not less than one or more than 100 dollars.
Such certificates shall be redeemable in coin OF
standard value A sufficient sum to carry out the
provisions Of this act is hereby appropriated out
| Of any money in the treasury not otherwise ap-
| act of February %, 1873, entitled can Act to
Authorize the Coinage of the Standard Silver
| which requires the Secretary of the Treasury to
purchase at the market price thereof not less
than two million dollars worth Of silver bullion
month, nor more than four million dollars worth
a month, of such bullion is hereby repealed
Section 4-The certificates provided for in this
act, and all silver and gold certificates already is
sued, shall be receivable for all taxes and dues to
| the United States of every description, and shall
be legal tender for the payment of all debts, pub
| Section 5.-The owners of bullion deposited for
coinage shall have the opportunity to receive coin
| this act and such bullion shall be subsequently
| coined.
Section 6.-Upon the passage of this act the
States to the respective credits of the national
banks for deposits made to redeem the circulat-
i ing notes of such banks and all deposits thereaf-
ter received for like purpose, shall be covered
into the treasury as miscellaneous receipts. The
treasurer of the United States shall redeem from
| the general cash in the treasury the circulating
| notes of said banks which may come into his
| possession subject to redemption, upon the GER
| tifcate OF the comptroller OF the currency that
such notes have been received by him and
/ destroyed, and no new notes will be is ,ued in
| their place. Reimbursement of their amount
shall be made to the treasurer under such regula-
| tons as the Secretary Of the Treasury may pre-
SCRIBE from the appropriation hereby created, to
be known as "the national bank notes redemption
| account" The provisions of this act shall not
| apply to deposits received under section Of the
| All Of June 20, 1874, requiring every national
bank to keep in lawful money with the treasurer
| Of the United States sum equal TO per centum
Of its circulation, to be held and used for the
demption of its circulating notes and the BALANCE
| remaining of the deposits covered shall, at the
close of each month, be reported on the monthly
/ public debt statement as debt OF the United
States, bearing no interest.
The title of the bill was amended to read :
"An Act to Provide for the Free Coinage OF
| Gold and Silver Bullion and for Other PuI-
| noses"