Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1891-10-08

If this SOD, 0JO,OUO Wnlcn the GOVern
ment is now issuing in the purchase
of silver bullion, instead of coming it,
is in the form of money, and actually
circulates as currency amongst the
people, and performs all the functions
that silver coin would, then your crit
icism is not quite tenable, as you will
admit, and Roger @. Mills is right.
a brief summary of the act of Con-
gress under which the silver bullion
THAT is, uncoined silver is being pur-
chased by the Government, and the
Treasury Certificates" are being is
sued, is as follows:
SEC l provides that the Secretary
of the Treasury shall buy 81 800, 600
ounces of free silver per month at the
market price thereof" and
tissue in payment for such purchases
of silver bullion, Treasury notes in
such form and of such denominations
not less than one dollar nor more than
one thousand dollars, as he may pre-
scribe"
SEC. .. "That the Treasury Notes
issued in accordance with the provis-
ions of this Act shall be redeema BILE
on demand, in lawful money of the
United States "
SEC. 3. "That the Secretary of the
Treasury shall coin such portion of
the silver bullion purchased under
the provisions of this act as may be
necessary to provide for the redemp-
ton of the Treasury Notes herein pro-
vided for, and any gain arising from
such coinage shall be accounted for
and paid into the Treasury"
From this your readers will see that
by the tar itself these so-called "cer-
ticates," are really "Treasury Notes, y
lawful money of the United States and
are issued to pay for silver bullion pur-
chased. That they will be redeemed
in coin. that is gold or silver; that the
silver so purchased and stored can be
at any time coined and used in re-
deeming the Treasury Notes" thus
issued; and that whatever profit may
arise in the coinage shall belong to
Government-the peOpls-and not to
the few owners of silver mines, as
would be the case if the Government
coined it for them.
Under the provisions of this law the
Treasury Department, as Mr.. Mills
correctly stated, has been issuing its
Treasury Notes" in payment for the
silver bullion, in denominations ofone
two, five, ten, twenty, fifty, one hun,
dred, five hundred, and one thousand
dollars each, III about the same pre-
portion Of denomination as it did OF
| the old legal tenders, or Nationa
Bank Notes, and silver and gold cOir
certificates.
After reading your editorial, lit wa:
so plausible, well written, and so il
line with much that has been Spoken
and written for months past) that
wished to re-assure myself. 1 there
upon stepped into the United State
Sub Treasury and re-examined thu
new certificates. which, L may remark
are now gradually coming into gener
al circulation.
They are in size, shape, and gener
al execution, equal to all the othe
Government paper money, both certii
icates, or ''green backs"
Every body has been entirely salts
fled with the old silver coin certificate
issued to represent the three or fou
hundred millions of silver dollar
coined and piled up in the Treasur,
which the people did not want to han
die in quantities so long as they coul
get currency.
Now, here is a copy of one of tn
silver coin certificates in circulation
for years past under the old law:
"1his certifies that there have been de
posted in the Treasury of the United States
five Silver Dollars payable TO the bearer o
demand. Act of Aug 4th, 1886.
| W. 5. ROSECRANS,
Register of the Treasury.
j. A. HUSTON,
Treasurer of the United States.''
On the back of the bill are thes
words: give Dollars; Silver Certif
cate; United States"
The new silver certificate or "Treas
ury Notes" issued for the purchase c
silver bullion, discussed in your ed
torial of last week, reads as follows:
Illegal Tender; act of July 18th, $780,"
TREASURY NOTE.
1.-THE United States OF America will pay
bearer five dollars in coin. Washington, 1
C. W. S. ROsECRANS,
J.N. HUSTON, Register of Treasury.
Treasurer OF the United States"
On the back of the bill or certificat
are these words:
GIVE DOLLARS"
"This note is legal tender at ii
face vaIue.n in payment OF all debt
public and private. except whe
4 Id Il = /,