Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-11-14
serretarr Foster On Silver.

SffFttdft ST-tff Vu Shfcis
Al the seventeenth annual session al
the American Bankers Association. now
Ia session ct New Orleans Secretary
Foster OF the Treasury Department In
answeE TO request from the association,
gave his views upon the provisions and
operations Of the act Of July IA, 1880,
known a. the new silver act. The pro-
visions Of this act are
/. Monthly purchase by the govern
uent Of 4 800 600 ounces Of silver az the
market price.
2. Payment to be made In new form
Of paper denominated Treasury notes
3 The notes TO be a full legal tender
for all debts. public and private, and to
| be held by any national bank association
az part OF It's lawful reserve.
/. II IL declared 10 be the policy Of
the United States TO maiutaia the 1--we
metals On n parity with each other at the
present legal ratio, or such ratio as may
be provided by law.
81
5. Two million ounces Of silver shall
be coined monthly into silver dollars
until July !, 1891.
6. After July ], 1891, the compulsory
coinage Of silver dollars ceases; only
such dollars need be coined as are neces'
sary for the redemption of Treasury
holea'
I. The provision OF the ACT Oh feo
p, 1875, requiring the monthly purchase
and coinage into silver dollars of no
49,. a., 600 600 90 o,a ,b.r a 600 ~,
ie'' . o'o''YS
worth OF bullion Is repea!eo-
s. The moneys on deposit with the
Treasury for the redemp tion of Nationa
D.. .. -, .o,,o.ad ,n,o tho ,,eas
Damn Aosos ne
ury. and retired oahK hotes are 10 d.
redeemed from current cash
In his letter Secretary Foster saws:
',,,,,,,. 4. :, - ,ha, "a, a,,on., -,
nm ~ 20 !. e .; s'i T.. NE "annt-s a.
honey ~ VI ,Sran a. r 90 ,ho1 a. nv
the piosonI s IL - IS h;s,nrs, - ,na,,
1880, IT,, l., 49,, ~, yba taa,Ii,,o
pc !" 80, - - H. ,,,c,.1a LII
~. li''i,id Ia a"ant,n, -, Tr.noa =, n,
.ne ~, IT. 70 90 ranid
10y a., onnta,,o, 80 ,ysoItb apd
gfo"eh ~ py i;na aag a T., aI
~ ~ s,a;n' uaa,Ii, ;nnraas. i,
ninu s, VI H adi,y, sonoaaha1 nro
W, r. ~. W 90 aroa,th In nonnistion
ri ,, 1890 ~ densnded
" In 80 80 - rra,s,,r, ,o+os ,,d.,
l. ne ~ go. .,al,S"a ,',aroa., 80 .
VIZ, s,.n,i ~ 800" ',nouao;ant and sonnd c,,rrencv
| pii. , :, ~ -. LII -, 10 80,
49, es "ti,,ar ,,,Il;nn radoa,rahIa n,
saiuo -, -. - - ~ sod,
u..,,'a - - tr ',a;,,ta;n !, ~ 40,
Vi M, rno So ~, aaJ;,;aa 20 az o;ro,,Iotio,
| . sana,in,aI mos ,nreihir ax
u in' pl1g 49, - s,r;rn ~ s,,r,,, a,
u. ~ ,asan. zoo fyhan thronsh RI,
VI .ne ples - Enrdna said u,es Nth
aees ', 80 y. .,,is 1912. ~ 10 rao "nsn
u 'iIs isoud .ais soIn. - " 1917 "a" -
sie'es. asS 40 600 600 P'''1 VI
ns 81 au ,an ~ ~ svhs,,,",a nrov;dea %,
| u. ~ IN - ~ go Tsn.'s,, ~
I'm ;s,a II ~, 81 S,a,,arnr,o,t T., tt,
hoeo1' i'su.1 -; ~ ~ III :. !, rrahahi,
i pi, t ~ % ,vnnId not re- hea,
liz ',iiS 80 ,,;s nnorrous AT, -,
ao, ,J W ,,hoa,t ar cd" s,ri,aann, /,
10 ,u ",.I r'arbet and sar;ous susinas,
Iis.,,rba,c, y
''sSe a a.. ,,;oo, - .ha act n, r,,r.1i
| ,uon 10" =. ,,n,;saa honos y,ortat o.,
-, ~ 80 orddn U 81 Tho i,;taa Stoto,
sne 80 ,,;s; pI tha ~, -ohasa % " orantit,
~ i 80 "s SIo Ia ,ha ,nnn,hIy
y. i 49, -. pp, ,,inas
p'o ..Tb.t th;s larga ah,or,t;o, n, s,1ve,
80 f,r a., rrs,,cr ,,nrnos ~
~ ro' IA co,,aa ran;d snbancen,ant In III.
mIl'N 20 a;I,,ar -. 80, aararali,, ha
,,a,'aa tndaed n ,,,a, hood that IN,
,.a,oa., g., ,ho vain. ~ silyor rrdsr ~,
n sus ~ 80 t,,;s Iau, ,,onld ha 60 ,raa,
I'. Ns rs " 49, 80 at,,r, tb,+
aliu y. 81 70 80 BE- -aanhad n.hbn .,,
p ",Is m ~ So. ono, an n,;r,s ~ IN,
go ' - -, Ill.,
oTt - g. a,,a.a,iors of this lou s;lro,
odrennsd rom IN "a nor tine ounce y,
- ~. 90 Iaana-v isao 70 a. ~ ~
.s.1o 300
- ,, -o..o-.soa 4, .;o,
- e; ;,, 80 20 ,hs faot that hananse
20 ~ -, ~. St., ~nr',;sai b.. ~
~ tne 800 P ',tro5 a., 10, -, ~ -
iteasui :, a.. sa,. -. ~ vs. ~ =,
s ..ns, w. "a tha nr;co noid loo,
p uivs y, saraian si,rsr wero attracts ID
ali .,'iu y. av'''s" "''''
" a .1.I ,,a csuso. vh;c, .anpot enlsrgs
IN ~ ea "rara."d ~ ,rod,oo this -,
W upv", ind,t nh;cb is tho Iaro
,a ais' - az in .ba sh;pments NJ silver r.
an, ,a',ins w r ~ VIC TIta s,,;-or,.s at III
80 80 au" n r,a ~ ina;a dnr;ng tho
W.. i.o 10 ~, W ,,rosart zoo,
ii , niousis1ai s''e 80 az non 900 .,
si.om 'su ~ ~ 80 $3.50 -, ~
ores o,a;r,od h,, those conversant with