Arizona weekly citizen., 1890-01-25
Windom's Silver Bill.

nlinistratioR bill prepared by Secretar,
 'Windom, emboding the silver measure ] proposed in his annual report, and which
 will be introduced in both houses of con
 gress during this week:
 GA bill authorizing the issue of treas ury notes on the deposit of silver bull | lion:
 Be it enacted, etc, that any owner of ] silver bullion, the product of mines of l the United States, or ores melted or l 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 therefore treasury notes, hereinafter provided for, equal at the date of deposit to the net value of such silver in the market, such price current
 Tn che leading silver markets of the world; but no deposit consisting in whole or in part of silver bullion or foreign silver coins imported into this country,
 or bars resulting from melted or refined foreign silver coin, shall be received un-
 der the provisions of this act.
 SEC. ?. That the secretary If the treasury shall cause to be prepared treasury notes in such amount as may
 be required for the purpose of the above section, and in such form and denomina- tion as he may prescribe; provided that no notes shal! be of any denomination less than S1, nor more than 5000.
 ''SEC. 3. That all notes issued under this act shall be receivable for customs, taxes and all public debt, and when re- ceived into the treasury may be re-issued and such notes, when held by any na- tional banking association, shall be counted part of it's lawful reserve.
 'SEC. f. That notes issued under the provisions of this act shall be e. deemed on demand at the treasury of the United States or at the office of the Assistant Treasurer of the United States by the issue of certificate of de- | posit for the sum of the notes so present | ed, payable at one of the hints of the | United States in an amount of silver | bullion equal in value tn the date of | said certificate t. the number of dollars | stated therein at the market price of sill | yer, to be determined as provided in sec | tion l; ;or such notes may be redeemed in | gold coin at the option of the Govern melt, provided that upon demand of the | holder of such notes they shall be re- deemed in silver dollars.
 ''SEC ,. That when the market price | of lver as determined by the Secretary of the Treasury shall exceed S1 for 371, D grains of pure silver, it shall be the duty of the Secretary of the Treasury to refuse to receive deposits of silver bull lion for the purposes of this act.
 "SEC. 6. That it shall be lawful for the Secretary of the Treasury, with the approval of the President of the United States, to suspend temporarily the re- ceipt of silver bullion for treasury notes at any time when he is satisfied that through combinations or speculative of the market the price of silver is arbitrariynominal or fictitious.
 "SEC '. The silver bullion deposited under this act represented by treasury notes which have been redeemed in gold coin or silver dollars which may be coin- ed into standard silver dollars or any other denomination of silver coin now by law for the purpose of re- placing the coin used In the redemption of the notes.
 SEC 8 That so much of the act of February 25, 1878, entitled An act to authorize the coinage of the standard oLNCi NiOiluA uhNi CO 1CSbOlO iio ol ICh- \ der character as requires the monthly purchase and coinage into silver dollars of not less than S2.000,O00, nor more than 54,0O0,O00 worth of silver bullion, is hereby repealed.
 SEC. 9, That any gain or shrinkage, lrising frem coi age, which may be exc ,uted under the provisions of this act shall be accounted for and paid into tue treasury as provided by existing law.
 SEC. 10. The silver bullion received lnder the provisions of this act shall be subject to the requirements of the eX sting law and regulations of the mint | service governing the methods of receipt, the amount of pure silver and the amount of charges and deductions, if any, to be made.
 SEC. II. That nothing in this action shall be construed to prevent the pur- chase from time to time, as may be re- 1uired, of silver bullion for subsidiary silver coinage.
 SEC. 12. That a sum sufficient for the carrying out of this act is hereby appro- priated out of any moneys in the treas ury not otherwise appropriated.
 SEC. 13. That all acts, and parts of acts, inconsistent with the provisions Of this act are hereby repealed.
 SEC. If. That this act shall take effect 30 days from and after its passage.
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