The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-01-21
ON SILVER BULLION.
Text Of Secretary WINDOWS
Administration Bill.
CRIMINAL AND CASUALTY NOTES
Indicted-To Aid the Building Fund-An Old
Murder-TOO DespOndent to Live
Fatal Collision.

WASHINGTON, Jan. 20.-Following is the
text of the administration bill prepared by
Secretary Window, embodying the silver
measure proposed in his annual report, and
which will be introduced in both the House
and the Senate during the coming week.
a bill authorizing the issue of treasury notes on
deposits of silver bullion.
Be it enacted, ETC., That any owner of the sill
yer bullion product of mines in 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
designate, and receive therefor the treasury
notes hereinafter provided for equal, at the date
OF deposit, to the net value OF such silver at
market price, such price to be determined by the
secretary OF the treasury under the rules ana
regulations prescribed and 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 foreign silver coins. or
bars resulting from melted or refined foreign
silver coins, shall be received under
THE PROVISIONS OF THIS ACT.
Sec. 2-That the secretary of the treasury
shall cause TO be prepared treasury notes IN
such amounts as may be required for the pur-
pose of the above section, and in such form and
denominations as he may prescribe, provided
that no notes shall be of q denomination less
than 81 or more than LOCO.
Sec. 2@That notes issued under this act shall
be receivable for customs, taxes and all public
debts, and when received into the treasury may
be reissued, and such notes when held by any
national banking association shall be counted
part of its lawful reserve.
Sec. THAT 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 certificate of deposit for
the sum of notes so presented, payable 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 de-
termined as provided in section /; or such notes
may be redeemed in gold coin, at the option of
the government provided, that upon demand
the holding of such notes shall be
REDEEMED IN SILVER DOLLARS.
Sec. 5-That when the market price of silver,
as determined by the secretary of the treasury,
shall exceed 81 for 81 % grains Of pure silver,
it shall be the duty of the secretary OF the treas
ury to refuse to receive deposits OF silver bullion
for the purpose of this act
Sec. 6-That it shall be lawful for the secre
tary of the treasury, 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
manipulations of the market the price Of silver
is arbitrary, nominal or fictitious.
Sec. THAT silver bullion deposited under
this act, represented by treasury notes which
have been redeemed in gold coin or in silver
dollars, may be coined into standard silver
dollars or any other denomination of silver coin
not authorized by law. for the purpose of re
placing the coin used in the
REDEMPTION OF NOTES.
Sec. S-That so much of the act of February
2S, 1878, entitled can act to authorize the coin
age of the standard silver dollar and to restore
its legal tender character aSrequires the monthly
purchase and coinage into silver dollars of not
| less than s., 100000 nor more than S4000,0Gl
worth of silver bullion, is hereby repealed.
| Sec. 9-That any gain or shrinkage arising
| from the coinage which may be executed under
the provisions of this act, shall be accounted for
and paid into the treasury, as provided by the
| existing law.
Sec. 10-That silver bullion received under the
provisions of this act shall be subject to the re
qui-ements of the existing laws and regulations
OF the mint service, the governing methods o
receipt determining the amount of pure Silve
contained and the amount of charges or deduC
tionS, if any to be made.
| Sec. 1l-That nothing in this act shall b.
construed to prevent the purchase from time I
time as may be required, of silver bullion for
SUBSIDIARY SILVER COINAGE.
Sec. 12-That sum sufficient to carry GU
the provisions of this act is hereby appropriate
out of any money in the treasury not otherwiS
appropriated.
Sec. 13-That all acts and parts of acts in
consistent with the provisions of this act ar
hereby repealed.
Sec 14-That this act shall take efec
| thirty days from and after its passage.