St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-18
1T SUITS THE WooLLY WEST.
Text of the Silver Bill Adopted by
theeSenate.

WASHINGTON, June 1.-THE follow
ing is the text of the silver bill as it
passed the senate to-day:
Section 1. That 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 41215 grains of standard silver, or of
twenty-five and eight-tenths grains of
standard gold; and the said coins shall
be equally legal tender for all
debts, public or private; that there
after any owner of gold or silver bullion
may deposit the same at any mint of
the United States to be formed into
standard dollars or bars for his benefit
and without charge: but it shall be law
full to refuse any deposit of less value
than 500. or any bullion so base as to
be unsuitable for the operations of the
mint.
Sec. 2 That the provisions of section
of an act to authorize the coinage
of standard silver dollar and to restore
it's legal tender character. which be-
came law February %, 1878. is hereby
made applicable to the coinage in this
act provided for.
Sec. 3, That the certificates provided
for in the second section of this act and
all silver and gold certificates already
issued shall be of denominations of not
less than one or more than one hundred
dollars, and such certificates shall be
redeemable in coin of standard value.
A sufficient sum to carry out the pro-
visions of this act is hereby appropri
ated out of any money in the treasury in
the treasury not otherwise appropri-
ated.
The provision in section l Of the
act of Feb. %. 1878, entitled IAN act to
authorize the coinage of standard silver
dollars, and to restore its legal tender
character" which requires the secre-
tary of the treasury to purchase at the
market price thereof not less than
100000 worth of silver bullion per
month, nor more than S4,000,000 worth
per month of such bullion, is hereby re-
pealed.
Sec. 4. That the certificates provided
for in this act, and all silver and gold
certificates as already issued 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, public and private.
Sec. 5. The owners of bullion depos-
tied for coinage shall have the opportu
nifty to receive coin, OF its equivalent, in
the certificates provided for in this act,
and such bullion shall be subsequently
coined.
Sec. 6.-That upon the passage of this
act, the balance standing with the
treasurer of the United States to the
respective credits of national banks
for deposits made to redeem the circu-
lating notes of such banks, and all de-
posts thereafter received for like
purposes shall be covered into the
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 certificates of the comptroller
of the currency that such notes have
been received by him and that they
have been destroyed and that no
notes will be issued in their
place, reimbursement of their
amount shall be made to the treasurer,
under such regulations as the secretary
of the treasury may prescribe from an
appropriation hereby created and to be
known as National bank notes; re-
demption account" but the provisions
of this act shall not apply to the de-
posts received under section of the
act of June 20, 1874. requiring every
IIdGiOldl UdIlh W kt6p III ldWlul HO!ley
with the treasurer of the United States
a sum equal to per cent of its circula-
ton, to be held and used for the re-
demption of its circulating notes; and
the balance remaining of the deposits
so covered shall, at the close of each
month, be reported on the monthly debt
statement as debt of the United States
bearing no interest.
5he titlesof the bill was so amended
as to read: IAN act to provide for the
free coinage of gold and silver bullion
and for other purposes"