Evening journal., 1890-03-25
WINDOWS SILVER BILL.
1t Will Be Favorably Reported
to the House.
THE FULL TEXT OF THE MEASURE.

Mints-ttEiu PROVISIONS Excluding For- i
eign silver from Being utilized.
WASHINGTON, March % The house COM
mittee on coinage, weights and measures
has authorized favorable report on the
bill prepared by Secretary Window and in
troduced in the house by Mr. conger
da.l, authorizing the issue OF treasury notes
on deposits Of silver bullion. Some amend
ments 20 the bill were suggested By Mr.
Window and agreed TO in committee. The
bin passed the committee by a vote Of to
5, Mr. Wickham lOl, being the only mem.
Der absent The following is tho full text
Of the bill as it will be repor,edi
Text Of the hin.
Section THAT any owner o. silver bull-
ion, the product az the mines of tho United
States, or Of ores smelted or refined ia the
United States, may deposit the same at any
coinage mint or any assay Office in the
United States that the secretary Of the treas
ury may designate and receive therefor
treasury notes hereinafter provided for,
equal at the date Of deposit Of the net value
Of such silver at the market price, such price
to be determined by the secretary Of the
treasury under rules and regulations pre-
scribed, based upon the price current in the
leading silver markets Of the world; but no
deposit consisting in whole or IN part Of sill
yer bullion or foreign silver coins imported
into this country or bars resulting from
melted or refined foreign silver coins shall
be received under the provisions Of this act.
The Treasury Notes.
Eae That fha uaavafa ~ ~ flan f,raa gttst,
shall cause 70 be prepared treasury notes in
such amounts as may be required for the
purposes OF the above section, and in such
form and denominations as be may pre-
scribe; provided, that no notes shall be Of a
denomination less than 81 nor more than
81 900
Sec. 3--That the notes issued under this
act shall be receivable for customs, taxes
and all public dues, and when received into
the treasury may be reissued, and such
notes, when held by any national banking
association, shall be counted as part Of it's
lawful reserve
The Method OF Redemption.
Sec. 4-That the notes issued under the
provisions OF this act shall DO redeemed on
demand at the treasury Of the United States
or at the Office of an assistant treasurer Of
| the United States by the issue of certih.
| cate Of deposit for the sum OF the notes SC
| presented, payable at one of the mints oi
the United States in an amount OF silvei
bullion equal in value on the date Of sal,
certificate TO the number Of dollars state,
therein at the market price Of silver. 70 b.
determined as provided in section !, or sucl
notes as may be redeemed in gold coin al
the option Of the government; provided
that upon demand Of the holder such note
shall be redeemed in silver dollars.
When Deposit Must BE Refused.
Sec. 5-That when the market price ol
silver as determined by the secretary OF tn,
treasury shall exceed 81 for S7l 25-l0l
grains Of pure silver il shall be the duty oil
the secretary of the treasury to refuse to
receive deposits of silver bullion for the pur
pose Of this act, provided that when th'
market price Of silver as determined ia ac.
cordance with section ] of this act is 81
for 81 .25-l00 grains Of pure silver it shal
be lawful for the owner Of any silver bullion
the deposit Of which for notes is herein pro
vided for, TO deposit the same al any coinagl
mint of the United States, to be formed int
standard dollars for his benefit as provided
in the act Of Jan is, 1887.
Disposition OF the Bullion.
Sec. 6-That the silver bullion deposited
under this act represented by treasury note
which have been redeemed in gold or in sill
yer dollars may be coined into standar,
dollars or any other denomination Of silve
coin now authorized by law for the pur
pose Of replacing the coin used in the re
demption Of the notes.
Sec. THAT so much Of the act OF Feb
2s, 1878, entitled, "An act TO authorize tn
coinage Of the standard silver dollar and 4
restore its local character as requires tn
monthly purchase and coinage into silve
|. dollars of not less than S2,000,000 nor NOR
than s4,0O0,00O worth OF silver bullion
hereby repealed
Sec. s--That any gain or seignorage aris
ing from the coinage which may be OK,
cuted under the provisions Of this act shal
be accounted and paid into the treasury o
provided by existing laws.
Sec. 9-That silver bullion received unde
the provisions Of this act shall be subject {
the requirements of existing law and tli
relations Of the mint service, governing th
methods OF receipt determining the amour
Of pure silver contained and the amount q
charges or deductions, If any, to be made.
To Mark Foreign silver.
Sec. 10-It shall be the duty of the co
lectors Of customs Of the United States I
stamp with a steel stamp on every bar
silver bullion imported into the Unite
States the word foreign 1t shall be I'll
duty Of every assayer or refiner in IL
United States, or any other person or firi
who may receive bars of silver stampe
foreign in case such bars are remelted {
refined, to stamp with a steel stamp the n
sulting bars foreign" In case bars
silver stamped foreign are remelted
refined with other silver products Of q
United States in such a way that it is n,
possible to separate in the resulting bars Il
exact product Of such foreign silver, it sha
be the duty OF such assayer or rehner, (
other person or firm, to stamp with a ste
stamp on an amount Of silver bars whic
shall be equivalent to tho amount of fo
eign silver melted or refined the word so
eign" 1t shall be the duty of every assa,
er or refner in the United States, or an
other person or firm, who may receiN
coins Of silver Of the coinage of countril
other than the United States, in case sue
coins are remeited or refined, to stamp wit
a steel stamp the resulting bars "foreign
A Penalty Prescribed.
In case foreign silver coins are remelte
or refined with other silver products of ii
United States in such a way that it is nC
possible to separate in the resulting bars tt
the exact product of such foreign silve
. coins, it shall be the duty Of such assaye
OF retiner or other person or firm TO STAN
with a steel stamp on an amount {
silver bars, which shall be equivalent to th
2 amount Of foreign silver coins melted
refined, the word foreign Every perso
who fails 10 staiap bars resulting from th