The advocate., 1892-02-24

States, or the owner Of the bullion may de-
posit the same at such mints and receive
therefore coin nOtes equal in amount to the
coinage value Of the bullion depOSited, and
the bullion theFeupon shall become the
property Of the government. That the coin
notes so issued shall be in denominations
mot less than 81 nor more than $1,000, and
shall be legal tender in like manner and
invested with the same monetary uses as
the standard gold and silver coins Of the
United States.
SEQ. 2. That after the passage Of this act
il shall not be lawful to issue or reissue gold
or silver certificates or treasury notes, pro-
vided for IN the act Of July IA, 1890, entitled
"An act directing the purchase Of silver
bullion and the issue of treasury notes
thereon and for other purposes" That all
such certificates and treasury notes when re-
ceived in the treasury shall be cancelled and
destroyed and coin notes provided for in
the first section of this act shall be issued
in lieu of the certificates and treasury notes
80 cancelled and destroyed; provided that
nothing herein shall be construed to change,
modify, or alter the legal tender character
Of such certificates or notes now isued.
Sec. 8. That the COIN notes herein auth
Orized may be Feispued, but the amount at
any time outstanding shall not be greater
or less than the value Of the coin and the
bullion at coming value held in the treas
ury. That the said coin notes shall be re-
deemed in coin on demand at the treasury
or any sub treasury Of the United States,
and the bullion deposited shall be coined as
fast az may be necessary for such redemp-
ti0n.
Sec. 4. That any holder Of full legal ten-
der gold or silver coinsof the United States
to the amount Of $40 or more may deposit
the same at the treasury or any sub-treasury
Of the United States and receive therefor
coin notes herein authorized.
Sec. 5. That the act of July IA, 1880,
hereinbefore cited, be and the same is here
by repealed.
Sec. 6. That so soon as France shall re-
open her mints to the free and unrestricted
coinage of silver at her present ratio, name.
ly, fifteen and one-halt pounds of silver tC
be worth one pound Of gold, troy, itshall be
the duty Of the president Of the United
States to Immediately make public procla-
nation of that fact, wereupOn the said ratio
shall be the legal ratio in the United States
and thereafter the standard silver dollar
shall consist Of 400 grains Of standard silver
and the law relating to the standard silver
dollars of 4l211S grains standard silver shall
be applicable to the new dollar of 400 grains
standard silver. That the silver dollars of
4121S grains then in the treasury or there
after coming into the treasury shall imme-
diately and as fast as practicable be coined
into dollars of 400 grains standard silver.
Amy gain or seigniorage arising therefrom
shall be accounted for and paid into the
treasury.
Sec. z. That the secretary Of the treasury
is hereby authorized and required to make
such rules and regulations as may be neces.
sary to carry into effect the provisions Of
this act.
Mr.. Bland, to an associated press re-
porter, said Of his bill:
It is different from all other bills intro.
duced in one particular. 1t contemplate
the converting of all our silver money, sill.
YER certificates and treasury notes issued Oh
bullion, and gold certificates issued on gold
into coin notes redeemable in coin. thus
converting our paper into bi-metal papel
instead of keeping up the distinction Oe
tween gold and silver in our paper issues
This conforms to the idea Of coming bOtE
metals on an equality, gold and silver free
4 NEa = l. Il