The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-02-16
STILL ANOTHER SILVER BILL
II Prescribes Unit OF Value and Pro-
yfdes for Some Expansion of Carrea~v.

~ A1GHCBtVeD - A01t " 8fue 800 Hx0s
vfdes for Some Expansion Of Carreney.
WAsHrseTos CIrY. Feb. ll-IspeciaI. +
Mr.. Morrow today presented TO the House
Francis S. Newland's silver bill. which had
been shown TO the committee on coinage
the day before. Some of the provisions
contained in this bill come from various
bills. among them Senator Sherman's, Sem
ator Plnmb's. and particularly the bill
drawn by Mr.. Sc. John. the banker Of New
York. but it is drawn upon even more con-
seYvative lines than that Of ST. John.
1t limits the bonds deposited BY each
national bank 10 $1,000, and the voIun-
tary withdrawal of bonds for the retire
ment of national bank notes shall not ex-
ceed s., 90 900 in any one month. When
the circulating notes of national banks
shall not exceed $ls0, ,0y6 900 the treasurer
viii be empowered 10 purchase silver bull
lion at not less than 81 for 371ls grains,
the purchase not 70 exceed in the aggre-
gate an amount equal 20 the amount of
national bank notes retired and cancelled
below the sum Of lso,Do1.O01
The unit of values in the United States
viii be the dollar, which may be coined of
a5.Sl grains Of gold or 4l2iS grains Of silver.
ANY owner Of gold or silver bullion NAV
deposit it with any mint Of the United
States 10 be coined into standard gold or
silver dollars, taking IN return gold or
silver or treasury notes, but bullion
brought from other countries cannot he
coined except on payment OF coinage fees.
similar to those prescribed in Mr. Gearyis
bill. There shall always be IN the treasury
q reserve of gold OF 500 go 90, for the pur-
pose of redeeming greenbaeks or any gov
ernment notes that may hereafter be
issued, it being the policy Of the govern
nent 20 keep IN reserve gold equal to at
least 20 per cent of the entire note issue
Gold and silver certificates viii not he
issued further. and those now in circula-
ton will he Cancelled as fast as taken in
The bill declares that il Is the continued
policy Of the government OF the United
States TO use both gold and silver as full
legal tender money, according 20 the ratio
now existing in the United States.
acting IN accord with other ma
tions. and the United States
nations IN a conference looking TO the
adoption Of a common ratio between gold
and silver with q view 10 establishing an
international use Of legal tender money.
and a seeming fixify of relative value be-
tween them, and when, IN the judgment OF
the president of the United States, a suf-
ficicnt number Of nations snail have en-
t$TSz II 10 &l4LA a2
he NAV declare the ratio so fixed TO be the
existing ratio in the United States, and all
coinages thereafter shall be according 70
such ratio until changed By the Law The
nresidens shall appoint commissioners, not
exceesi!nr three, who shall attend such
conference on behalf OF the United States.
When the associated national banks IN
any city having population OF over TO-
opl. whose aggregated stock exceeds 81
fss,0O- shall determine by resolution that
more money is temporarily needed FOR the
business of the city, they shall be ernpow-
cred to deposit with the acting treasurer
of the United States government bonds.
state bonds or municipal bonds as security,
who viii issue 20 them treasury notes 70 an
amount equal 10 80 per cent of the market
value Of the government bonda so Per cent
of state bonds, or 80 per cent Of theI rHu-
nicInal bonds The banks viii Pay q per
cent. interest on any sum not excesssing
$5.0h. 400, per cent on any sa1n above
S7,0O,uO and not exoeeding $lo, ,00e, ,o00, and