The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1890-07-11
TEXT OF THE SILVER BILL
The Provisions of the Measure
Finally Agreed Upon.
BULLION TuAT MUST DE BOUGHT.

agreed TO by the conference OF the senate
and house;
Be 1t enacted, etc. That the secretary Of
the treasury is hereby directed to purchase
from time TO time silver bullion TO the ag-
gregate amount of 100000 ounces, or so.
much thereof as may be offered in each
month, at the market price thereof,
not exceeding 81 for 371 25-1OO 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 secretary of the treasury in such
| form and of such denominations not less
than 81 nor more than 100000 as he may
| prescribe, and n sum sufficient TO carry into
effect the provisions of this act Is hereby
appropriated out of any money in the
treasury not otherwise appropriated
silver Certificates IL Legal Tender.
Sec. 9. That the treasury notes in accord
ance with the provisions of this act shall
be redeemable 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 purchased
by such notes, and such treasury notes
shall be a legal tender in payment of all
debts, public and private, except where
otherwise expressly stipulated in the con-
tract, and shall be receivable for customs,
taxes and all public dues, and when so re-
ceived may be reissued, and such notes
when held by any national banking asso-
citation may be counted as n part of its
lawful reserve
The Policy of the United States.
That upon demand Of the holder Of any
of The treasury notes herein provided for
the secretary Of the treasury shall, under
such regulations as he may prescribe, re-
deem such notes in gold or silver coin, at
his discretion, it being the established
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.
The Coinage Per Month.
Sec. 3-That the secretary of the treas
ury shall each month coin 1000. 900 ounces
of the silver bullion purchased under the
provisions of this act into standard silver
dollars until 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 here
in provided for, and any gain or seignior-
age arising from such coinage shall be &C.
counted for and paid into the treasury
Sec. 4-That the silver bullion purchased
under the provisions of this act shall be
subject to the requirements of the existing
law and the regulations of the mint ser
vice governing the methods of determin-
ing the amount of pure silver contained
and the amount of charges or deductions,
If any, to be made.
Part of Former Act Repealed.
Sec. 5.-That SO much of the act of
Feb. 2S 1873, entitled "An act to author
ize the coinage of the standard silver
dollar and to restore its legal tender char
acter as requires the monthly purchase and
coinage of the same into silver dollars of
not less than 81 900, 900 nor more than s4,-
OOO,O 900 worth of silver bullion" is hereby
repealed.
Thirty Days from Passage.
Sec 6-That upon the passage of this act
the balances standing with the treasurer
of the United States to the respective cred
its of national banks for deposits made to
redeem the circulating notes OF such banks,
and all deposits thereafter received for like
purpose, shall be covered into the treasury
as miscellaneous receipt, and 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, and upon
the certificate of the comptroller of the cur
rency that such notes have been received by
him, and that they have been destroyed,
and that no new notes will be issued in
their place, reimbursement of their amount
shall be made to the treasurer, under such
regulations rs the secretary of the treasury
| may prescribe, from an appropriation here
| by created, to be known as national bank
notes; redemption account" but the pro-
visions of this act shall not apply to the
deposits received under section 3 of the
act of June 20, 1874, requiring every ma
tional bank to keep in lawful money with
| the treasurer of the United States a sum
| equal TO 3 percent. of its circulation,
/ to be held and used for the redemption of
/ its circulating notes; and the balance re-
naming of the deposits so covered shall,
| at the close of each month, be reported in
| the monthly public debt statement as debt
of the United States bearing no interest
Sec, I. That this act shall take effect
| thirty days from and after its passage.
MIR. Bland Displeased.
The conference report was signed by the
| Republican conferrees only. Senator Harris
| and Representative Bland refused TO sign it.
| Mr.. Bland said to reporter of the United
| Press last evening that he was not salts
fled with the conference report, but he
| would present no minority report. 81
have no doubt the report will be agreed to
in the senate and house, said Mr.. Bland.
| "The Republican party has agreed upon it,
and it will be put through. | guess there
is no doubt but that the president will
| sign it."