River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1890-01-23
FOB FREE SILVER.
Text Of seoretiry WINDOWS Coinage
Measure Soon to BE Laid Before Con.

Text OF Secretary WINDOWS Coinage
Measure Soon TO BE Laid Before Con-
grcss.
WASHINGTON, Jan. 20.-Secretary VIM
dom has completed the preparation of
the administration silver bill, which
embodies measures proposed in his an
nual report IL viii be int~oduced in
both the House and the Senate during
the week, and naturally will attract
widespread attention. The text Of the
bill is as follows.
BE il enacted, etc, That any ownerof silver
bullion, the product Of the mines Of the United
States, or OF ores smelted or refined in the
United States, may deposit the same
at any coinage mint at any ASSAY
Office of 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 deposit
Of the net value o. such silver az the market
price, such price to he determined by the Seere-
taryof the Treasury under rules and regulations
prescribed, based upon prices current in the
leading silver markets OF the world; but no de-
posit consisting in whole or in part OF silver
bullion or foreign silvercoins imported into this
country, or bars resulting from melted or re-
fined foreign silver coins, SHAH be received
under the provisions Of this act.
=
ury 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
ard denominations as he may prescribe; pro-
vidod that no notes shall be of a denomination
less than one dollar or more than $1,000.
''Sec. j. That the notes issued under this act
shall be receivable for customs, taxes and all
public debts and when received into the Treas
ury may be reissued, and such notes when heid
By any National banking association shall be
counted as part OF its lawful reserve.
sec 4. That the notes issued under the pro-
visions Of this act shall be redeemed upon de-
mand ut the Treasury OF the United States
or az the office OF an Assistant Treas
urer Of the United States by the issue
Of certificate Of deposit for the sum Of the
notes SO presented. payable ut one Of the
mints OF the United States IA an amount
Of silver bullion equal in value on the date Of
the said certificate 90 the number Of dollars
stated therein at the market price Of silver, to
be determined as provided in See. ! or such
notes may be redeemed in gold coin at the OPP
tion Of the Government; provided, that upon
demand Of the holder such notes shall be re-
deemed in silver dollars
See 5. That when the market price OF silver,
as determined by the Secretary OF the Treasury,
shah exceed one dollar for 81 81 grains for pure
silver, it shah be the duty Of the Secretary Of
the Treasury to refuse to receive deposits Of sill
yer bullion for the purpose Of this act.
Sec g. That il shall be lawful for the Secre-
tary Of the Treasury with the approval Of the
President OF the United States TO suspend. tenn
porarily the receipt of silver bullion for Treas
ury notes at any time when he is satisfied that
through combinations or speculative manipula-
ton of the market the price Of silver is ar
bitrary, nominal or fictitious.
Sec. z. That the silver bullion deposited
under this act. represented by Treasury notes
which have been redeemed in gold coin or in
silver dollars, may he coined into standard sill
yer dollars, or any Other denomination OF silver
coin now authorized by law for the purpose OF
replacing the coin used in the redemption Of
the notes
Sec. s. That so much Of the act OF February
% 1873 entitled an act TO authorize the coin
age OF the standard silver dollar and 70 restore
its legaltender character as requires the
monthly purchase and coinage into silver dol
lars Of not less than s2,0010o), nor more than
100000 worth Of silver bullion. is hereby re-
pealed"
The act is to go into effect thirty days
alter It's passawe.