Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-01-20
TO ISSUE NOTES FOR SILVER.
Mr.. Windows Bullion Bill introduced
In Congress.

The silver bill prepared BY Secretary Win.
dom. in conformity with the plan proposed in
his report. was introduced in the House today.
1t provides that any owner Of silver bullion.
the product of the mines Of the United States
or of ores smeited or refined in the United
States, may deposit the same at any coinage
mint or at any assay Office in the United States
that the Secretary OF the Treasury may desig-
nate and receive therefor Treasury notes here
matter provided for, equal at the date Of de-
post to the net value of such silver, at 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 smelted or refined foreign silver coins
shall be received under the provisions Of this
act.
That the Secretary Of the Treasury shall
cause to be prepared Treasury notes in such
amounts as may be required for the purpose of
the above section, and in such form and de-
nominations as he may prescribe; provided
that no note shall be Of a denomination less
than 81 or more than 81 900.
That the notes issued under this act shall be
receivable for customs, taxes and all public
dues. and when received into the Treasury
may be reissued, and such notes, when held by
any national banking association, shall be
counted as part OF its lawful reserve.
CERTIFICATES OF DEPOSIT.
That the notes issued under the provisions
Of this act shall be redeemed upon demand at
the Treasury of the United States or at the
office of an assistant treasurer of the United
States by the issue of q certificate of deposit
fhn Crpv,, of thn l.
at one of the minis 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 /; or
such notes may be redeemed in gold COIN at
the option OF the government; provided, that
upon demand of the holder such notes shall be
redeemed in silver dollars.
That when the market price Of silver, as de-
termined by the Secretary of the Treasury,
shall exceed 81 for 371.25 grains of pure silver
1t shall be the duty of the Secretary of the
Treasury to refuse to receive deposits Of silver
bullion for the purposes of this act.
DISCRETION LODGED IN THE SECRETARY.
The Secretary of the Treasury is authorized,
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 manipulation of the mar et the
price OF silver is arbitrary, nominal or fcti-
tious.
The silver bullion deposited under this act.
represented by Treasury notes which have been
redeemed in gold coin in silver dollars, may
be coined into standard silver dollars or any
other denomination of silver coin now author
lied by law for the purpose of replacing the
coin used in the redemption of the notes.
REPEATING THE COINAGE ACT.
That so much of the act of February %, 1878,
entitled IAN act to authorize the coinage 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 S2,000000 nor more than
$4,000, 900 worth of silver bullion, is repealed.
Any gain or seigniorage arising from the
coinage which may be executed under the pro-
visions of the act is to be accounted for and
paid into the Treasury as provided by existing
law.
Silver bullion received under the provisions
OF the act is to be subject to the requirements
OF existing law and the regulations Of the
mint service governing the methods of re-
ceipt. determining the amount OF pure silver
contained and the amount of charges or deduc-
tions, if any, to be made.
1t Is further provided that nothing in the act
shall be construed to prevent the purchase,
from time to time, as may be required, of silver
bullion for the subsidiary silver coinage.
A sum sufficient to carry out the provisions
OF the act is appropriated and all acts and parts
OF acts inconsistent with the provisions of this
act are repealed.
The act is to take effect thirty days from
and after its passage,