The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-02-10
THE SILVER ISSUE
1t Has Been Defined in the Fifty.
Second Congress.
THE BLAND BILL To BEREPORTED
Speedy Consideration to be Forced-Two Hun
dred Representatives Favor it-Coin
NOtes-New Features.

WASHINGTON, Feb. 9.-The silver issue
OF the Fifty second Congress has been de-
hned, and the Bland free coinage bill is to
be ordered favorably reported by the
House committee on coinage, weights and
measures tomorrow. This was formally
decided upon by the free coinage members
OF the committee, and as a result Of series
Oh conferences of the free coinage men,
which closed to-day, it has been deter
mined that not only shall the Bland bill be
1aVorably reported, but that speedy con-
slderation be forced in the House. The
free coinage men tonight claim that of 332
members Of the House, they will have 200
votes in favor of the bill. Ten or eleven of
these, they say, will be Republicans, and
the remainder Democrats OF the op-
ponents to free coinage. about FORTY will
come from the Democratic side.
The bill as it will be reported is snb-
stantally:
Section 1. The unit value in the United
States shall be the standard silver dollar
as now coined, 41215 81 aims of standard sill
yer, or the gold dollar, % $40 grains OF
standard gold; standard gold and silver
coins OF the United States to be legal ten
der IN payment of all debts ANY
AOAt'NA u EOAu VI oLlNCE UulllOu OF Inc value
OF slOO or more, standard ineness, shall be
entitled to have the same struck
into any authorized standard coins
of the United States free of charge at the
mlnts of the United States, or NAV deposit
the same at such minis and receive there
lore coin notes equal in value of the bullion
deposited and the bullion become the pro-
perty of the government The coin notes
so issued shall be in denominations not less
than 81 nor more than 81 1000 and be also
| legal tender.
Sec. 2. After the passage of this act
| 1t shall not be lawful to issue or reissue
the gold or silver certificates or treasury
| notes provided for IN the act of July IA
! 1890; all such notes received in the treasure
| be cancelled and destroyed. and the coin
notes provided for in the first section
issued III lieu thereof: provided, this shall
not alter the legal tender character of such
notes now Issued.
! Sec. 8. The coin notes herein authorized
may be reissued, but the amount at any
time outstanding shall not be greater or
/ less than the value of coin and bullion al
coming volue held in the treasury, said
notes 10 be redeemed in coin on demand at
the treasury or any suO-treasury, and the
| bullion deposited be coined as fast as nee.
essary for such redemption.
Sec. 4. Any holder of full legal tende.
gold or silver coin Of the United States TO
VIZ hAA4Ouut VI GU VI ulCE6 may deposit the
same at the treasury or any sub-treasury
and aecelVe therefor the coin notes herein
authorized
Sec. .. The act July A. 1890, is repealed.
Sec. q. As soon as France shall reopen
her minis to the free and unrestricted
coinage OF silver at her present ratio, if
teen and one-half pounds Of silver To be
worth one pound of gold troy. it shall be
the duty of the President of the United
States 10 make public proclamation of that
fact, whereupOn said ratio shall be
the legal ratio IN the United States,
and thereafter a standard silver dollar
shall consist Of 400 grains of standard silver.
the law relating TO standard silver dollars
OF 4l21z grains In the treasury, or coming
in thereafter, snail be coined as fast az
practlcrble INTO dollars of 400 grains, any
gain arising therefrom to be accounted for
into the treasury
In an interview this evening Bland said
the bill is different from all others intro
duced in one particular: it cOntemplstes
the converting Of all our silver money. sill
yer certificates and treasury notes issued on
bullion and gold certificates issued on gold
into coin notes redeemable in coin, thus
converting our paper into bi-metaI
paper, instead of keeping up the distinc-
, ton between gold and silver in our paper
! issues. This conforms to the idea of coin
ing both metals, on an equality of gold
, and silver, free. His bill he said also
! differs from the others in the provision
!, about France. at is claimed" said MIR.
Bland, ''that France will not resume free
coinage now, because the differences be-
! tween our ratio of sixteen to one and the
: French ratio of fifteen and one
half to one would cause ell oul
silver to 90 to French mints. There can nj
: longer be protest on the part Of France
to coin silver free because our ratio is diff
: ferent. Personally, 1 care little for this
= but there are many people who think we
:, ought to have common ratio and l have
no objection to it."