Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1892-02-15

Inc Tree coinage Oil was ordered re-
ported to the house "Wednesday by Z
vote Of 8 TO 5 in the committee. The
full provisions of the measure are a.
follows:
The unit of value in the United States
shall be the standard silver dollar as
COW coined, consisting Of Al2} grains
standard silver or the gold dollar of
rs $40 grains standard gold; that the
standard gold and silver coins Of the
Unlted states shall be legal tender in
payment of all debts, public and pri-
vate. Any holder Of gold or silver bull
liyn of the value Of 500 or moro Of
standard fineness shall be entitled to
have the same struck into any author
lied standard coins OF the Uni
ted States free of charge 1T the
mint Of the United States, or
the owner of the bullion may deposite
the same at such mint, receiving there
fore coin notes equal Ia amount to the
colnage value of the bullion deposited,
and tue bullion thereupou shall be-
come the property OF tho government.
That the coin notes 20 issued shall DO
in denominations not less than one
dollar nor more than $1,000 and shall
be legal tender IN like manner and
be invested with the same monetary
uees as the standard gold and silver
Coins OF the United States.
Sec. 2. That after the passage OF this
act Il shall not be lawful TO issue or re-
issue gold or silver certificates or trcas-
ury notes provided for in the act OF
July IA. 1890, entitled, IAN act direct
ing the purchase of SILVER bullion and
the issue of treasury notes thereon and
for other purposes. That eli sucti Ger
tificates and treasury notes when re-
celved in the treasury shall b cancelled
and destroyed and coin notes provided
for in the first section Of thus act ehall
DO based in lieu Of the certificates snd
treasury notes 20 cancelled and de-
stroyed; provided that 1pthinG herein
shall be construed TO change, modify
or alter the legal tender OF such certiti-
estes or notes now issued.
Sec. S-That the coin notes herein
authorized may be re;esued, but the
amount st any tune outstanding shall
not be greater or less than the vxIuo of
the com and tho bulIiou Ct coming
value held IN the treasury. That The
said cosn notes shall b redeemed in
GOIki OII OGtI8U0 ~ 8O8 0I8800xy . VI oOy
sub-tfcasury Of the United States, and
the bullion deposited may be coined ~
fast ~ may be necessary Tor such re-
demption.
Sec. 4.--That any holder Of any full
legal tender gold or silver coins Of 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. 1890,
hereinbefore cited, be, and the same IL
hereby repealed.
Sec. 6.-That - soon as France shall
reopen her nsinss " the free and unrc-
stricted coinage OF silver at her present
ratio. namely. Isl pounds Of s.lver TO
be worth oae pound Of gold. Troy. Is
shalI b the duty Of the preadens Of
the United states Ia Immediately make
t.ubiic proclamation OF that fsct,
whsrsvpen Tue said ratio thaIl b the
legal ratio in the United Ssstee, and
thereafter the standard ssivef dollar
shaIl consist of 100 grains Of standard
silver snd the Law relating 10 the STAN
dsFd SILVER doIIars Of TEL grams stsn.
dard silver sbeIl he app ieabie 10 the
new dollar ut to0efsins e(aBdard silver.
That fhr silver ds.lIafe 81 >i2l eraioe
then ~ tlae trSAsury ar thefeaftef cont
ing .nte the treasury sbeii Immediately
snd - Fast ~ rfaetcabse - eeiued
inio dollars 81 Go efasne standard I'll.
YER. Any kfAsn ~ sesente<s1e svlsIae
thsfsffnse snail - ee<uuNted Tor and
pa.4 inte ne tfeseHfys
SEE. :. TtAt she seefxtAfy 81 ths
Treasury i hefeey Aathsfieed And fes
ssslfsd b ssate sueh fsl<s snd ss9silss
tiass ~ may ~ ssssesssfs ~ sesfy snte
el5est the pxsst<ssas st Nh -.