The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1890-07-24
Signed the Silver Bill.

WASHINGTON, July I4.-The sill
yer bill was taken to the President
this afternoon and he approved it by
aflxing his signature at once 1t is
now, therefore, law.
Following is the text of the com
promise silver bill as passed by the
House and Senate:
Section I. That the Secretary Of
the Treasury is hereby desired to
purchase from time to time silver
bullion to the aggregate amount of
1850, 900 ounces, or so much there
Of as may be offered in such months,
at the market value price thereof,
not exceeding ST for 81 25-Ioo
grains of pure silver, and to issue in
payment for such purchases Of silver
bullion Treasury notes of the United
States, to be prepared by the Secre
tary of the Treasury in such form
and of such denominations, not less
than ST. nor more than $1,000, as he
may prescribe, and sum sufficient
to carry into effect the provisions of
this act is hereby appropriated out
of any money in the Treasury not
otherwise appropriated.
Sec. 2. That the Treasury notes
issued in accordance with the pro
visions Of this act shall be redeem
able on demand in coin at the
Treasury Of the United States or at
the office of any Assistant Treasurer
of the United States and when so
redeemed may be reissued, but no
greater or less amount Of such notes
shall be outstanding at any time than
the cost of the silver bullion and the
standard silver dollars coined there
from then held in the Treasury pur-
chased by such notes; and such
Treasury notes shall be legal ten
der in payment of all debts, public
and private, except where otherwise
expressly stipulated in the contract,
and shall be receivable for customs,
taxes, and all public duties, and
when so received may be reissued;
and such notes, when held by any
National banking association, may
be counted as a part of its lawful
reserve That upon demand Of the
holder Of any Of the Treasury notes
herein provided for the Secretary Of
the Treasury shall, under such regu-
lations as he may prescribe, redeem
such notes in gold or silver coinage
at his discretion, it being the estab-
lished policy of the United States to
maintain the two metals on parity
with each other upon the present
legal ratio, or such ratio as may be
provided by law.
Sec. 3. That the Secretary Of the
Treasury shall each month coin
2,ooo, 900 ounces of the silver bullion
purchased under the provisions Of
this act, into standard silver dollars
until the first day Of July, 1891, and
after that time he shall coin Of the
silver bullion purchased under the
provisions of this act as much as
may be necessary to provide for the
redemption of the Treasury notes
herein provided for, and any gain or
scigniorage arising from such coin
age shall be accounted for and paid
into the Treasury
Sec. 4. That the silver bullion
purchased under the provisions of
this act shall be subject to the re
quirements Of existing law and the
regulations Of the mint service gov
erning the methods of determining
the amount of pure silver contained
and the amount of charges and de-
auctions, if any, to be made.
Sec. {. That SO much of the act
of Feb. %, 1878, entitled ian act to
authorize the coinage Of the stand
ard silver dollars and to restore its
legal tender character" as requires
the monthly purchase and coinage
of the same into silver dollars of not
less than 100000 nor more than
81, ooo, 900 worth of silver is hereby
repealed
Sec. 6. That upon the passage of
this act the balances standing with
the Treasurer of the United States
| to the respective credits of the Ma