Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1892-01-06
FROM OLD KAINTucK.
Citizen of Kentucky Formulates . Bi
to Provide Money of Uniform Value an
Put the Same I'm Circulation


Representatives of the United States of
America, in congress assembled,
That, from and after the passage of this
act, the unit of value in the United States
shall be the doliar, and the same shall be
coined containing four hundred and twelve
and one-half grains OF pure silver, nine
tenths fine; or twenty five and eight teuths
gold, nine-tenths fine. or issued in United
States treasury bills in denominations as
provided hereinafter, and the said silver
and gold coins shall be equally full legal
tender. dollar for dollar for all debts, pub
lie and private, and shall be maintained on
parity with each other, and the United
States treasury bills upon the legal ratio
providt for in this aot
z Thi the United States treasury bills,
provided for bv this act, shall be of denomi-
nations of not less than one dollar or more
than one thousand dollars, and shall be in.
terchangabIe with siivr or gold of standard
value, and the said United States treasury
bills shall he legal tenders for all debts,
public and private.
g. That the present laws and regulations
for the coinage of copper niczle and sub
sidiarY silver coins shall be continued, and
that such coins shall be legal tender for all
debts. public and private.
4. That all gold and silver certificates and
treasury notes h retofore issuei AMI in cir
culation as lawful money shall remain full
and legal tend, rs for all debts, public and
private, until re .eemed as hereinafter pro-
vided.
s. That the secretary of the treasury shall,
each month, coin not less than four millions
OF dollars of silver and gold, and shall issue
United States treasury bills to the same
amount, until the money volume for circu:
lation, above all required reserve funds,
shall reach fifty dollars per capita
6. That an absolute parity and equality of
value shall exist between the two metals,
gold and silver, when coined, and the United
States treasury bills; and that no premium,
appreciation or gain shall accrue to one
above the other, or debas sement, deprecia-
tion or demonetization of one below the
other, and each shall be rec eivable for all
| debts, public and private.
T. That hereafter any owner of silver or
| gold bullion, amounting in value to one
! hundred dollars and upwards and suitable
| for coinage, may deposit the same at any
mint OF the United States, to be formed into
standard dollars, ana the owners of said
bullion deposited for coin lge shall have the
option to receive coin, or its equivalent. in
United States treasury bills. to the full
| amount of the coinage, and said bullion
shall be subsequently coined.
8. That the silver or gold bullion coined by
the United States government under this act,
shall be subject to the present existing laws
| andregulations of the mint service governing
the method for determining the amount of
pure silver pRre gold contained therein,
and the amount of charges or deductions to
be ma e for coinage; and that the market
price of said bullion shall be its coin value.
less the cost of coinage at the mint at which
! 1t is deposited.
9. That from and after the passage of this
act the treasurer of the United States shall
| redeem, from the neral cash in the treas.
ury. all lawful paper currency, bank notes,
gold and silver certificates and all paper
| cure ncy VIII oh Shall come into his posses
sion subject to rede nption; and upon the
certificai of the comptroller OF tbs currency
| that such notes and currency have been
received AMI destr hyed. and that no new
notes similar currency will be issued in
their place, reimbursement of their amount
| in United states treasury bills will be made
to the treasurer from an appropriation
| hereby created to be known as q gen aral re
| demption account, covered into the treasury
/ as miscellaneous re emotion receipts, but
] that Il existing lawful paper currency shall
| remain legal tender for all debts, public anC
| private, until redeemed by United States
| treasury bills
TO- That from and after the passage of this
| act no discriminatons shall be made be-
| tween individuals corporations in con.
| tracts for payments in one metal exclusive
| ly, to the detriment of the other; that what.
| ger is accounted lawful money for one
| American citizen shall be equally so ac'
| counted to another American citizen and
| no preference shall obtain for bankers ol
| bondholders against artisans or plowhold ers
| gold and silver and Unitei States treasury
bills shall be equal, interchangeable and
| legal tender for all debts, public and private
between all citizens of the United States
IL. That no other money shall BE- issued in
| tn United States than as provided for il
| this act and the volume of currency for cir
| culation shall be issued to the respective
| states composing the American union upor
the basis of fifty dollars per capita per pop.
| ulation, and be deposited in thu state treas.
| uries and covered into the United States
treasury by state bonds therefor, that each
ofafa rGof<~,
of the general government, and may also
| choose it's own manner of disbursement oi
| the same to the people.
Il That labor being the creator of wealth
and capital being the representative OF its
| surplus earnings, (the net annual increase
of national wealth, or residual increment'
| representing both the earnings of capita
and the savings of labor.) and whereas the
volume of currency, whether large or small
| does not control the rate of interest, al,
| though whatever interest Is paid, by whom
! ever and for whatever purpose. eventually
| is paid by labor, therefore the rate of inter
est must be nationaliZed for the welfare o
the whole people-allowing capital its pei
| centum of usury and labor its per centum o
| interest equally-and a national rate OF in.
| terest, at three per centum, is hereby en-.
acted, and no higher rate of int rest shall bt
| CHARGED by any banking insti tution undel
authority of the United States government
to the end that money may have its absolute
/ classes
pie may be its beneficiaries upon eQua
terms,
l3 That all existing contracts between the
United States government and bondholderl
of the same. governing the issuing, payment
of investments on, and cancellation o.
bonds, are matters subject to congressional
legislation, and are in no way changed by
the passage of this bill.
IA That whatever reserve funds may bs
necessary for the expenses of conductins
the various departments of the government
and fulfilling its obligations, shall be in ex.
cess of the fifty dollars per capita volume
for circulation, and said volume shall bs
approximately maintained at such mini
mum limit.
Is. That a sum sufficient to carry out tn,
provisions OF this act. is hereby appropria
ted out of any money in the United States
treasury not otherwise appropriated.
i6. That this act shall take effect thirty
days after its passage, and all laws conflict
ing with the same are hereby repealed.
This bill definitely fixes equal money
upon equal terms for all the peorl, a
Such money has its fixed value, as tn,
half bushel measure has its guaranteed
quantity. Next and only factors tha
can influence its value is the quantit,
for circulation and rate of interest. ans
this is provided for also in this bill.
absolutely free for some, while Il /,
made by these conditions SO dear t.
others that hfe's best energies ant
abilities cannot buy enough of it t.
procure ordinary comforts and max.
our homes what the homes of freemer
should be. in enjoyment and culture
in peace and prosperity.
| This bill makes no exceptions; allow,
no better money for the bondholde,
than the plowholder, and is withou
special privileges for anybody. It is IL
accord with the spirit of the suprems
law the constitution of the United
States, which declares that the hum
biest citizen of the American unior
shall be equal to the highest, in fh,
protection of his life, liberty and tn
rights of citizenship.
The present false financial system 1
dividing the T,eon1a int, ~;o1, 81 -