The great West., 1892-01-08
FROM OLD kAINTUck.

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
provided for in this act
That the United States treasury bills,
provided for by this act, shall be of denomi-
than one thousand dollars, and shall be in
terchangable with silver or gold of standard
value, and the said United States treasury
bills shall be legal tenders for all debts,
public and private.
3. That the present laws and regulations
for the coinage of copper. nickle 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 heretofore issued and in cir
culation as lawful money shall remain full
and legal tenders for all debts, public and
private, until redeemed as h h.reinafter pro-
vided.
g. 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 debasement, deprecia-
tiOn OF demOnetiZatiOn OF one below the
other, and each shall be receivable for all
debts, public and private.
Z. 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, and the owners of said
bullion deposited for coinage 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 or pure gold contained therein,
and the amount of charges or deductions to
be made for coinage; and that the market
price Of said bullion shall be its coin value.
less rne cost Of coinage at the mint at which
it Is deposited.
9. That from and after the passage of this
dCG Wy @OoSutO u VI VAO OAltcQ CtdtSS SudA
redeem, from the g, neral cash in the treas.
ury. all lawful paper currency, bank notes.
gold and silver certificates and all paper
currency which shall come into his posses
sion subject to redemption; and upon the
certificate of the comptroller Of this currency
that such notes and currency have been
received and destroyed. and that no new
notes or 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 a general re.
de1hption account, covered into the treasury
as miscellaneous redemption receipts, but
that all Existing lawful paper currency shall
remain legal tender for all debts, public and
private, until redeemed by United States
treasury bills
10. That from and after the passage of this
act no determinations shall be made be-
tween individuals or corporations in con-
tracts for payments in one metal exclusive
iy, to the detriment of the other; that what.
ever 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 or
bondholders against artisans or plowholders
gold and silver and United States trea sury
bills shall be equal. interchangeable and
legal tender for all debts, public and private,
between all citizens of the United States.
IL. ludC no OIucI ulOucy Sudll U1 lsSucO III
the United States than as provided for in
this act, and the volume of currency for cir
culation shall be issued to the respective
states composing the American union upon
the basis of fifty dollars per capita per pop
ulaton. and be deposited in the state treas
uries and covered into the United States
treasury by state bonds therefor, that each
state may share equally the wise provisions
of the general government and may also
choose it's own manner of disbursement of
the same to the people.
T. 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 capital
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 of
the whole people-allowing capital it's per
centum of usury and labor its per centum of
interest, equally-and a national rate of in
t rest at three per centum, is hereby en-
acted, and no higher rate of int rest shall be
charged by any banking institution under
authority of the United States government.
to the end that money may have it's absolute
and fixed value, and that all classes of peo-
pie may Uo lGS UcucuCldTicS upon equal
terms,
13 That all existing contrac's between the
United States government and bopdhoders
of the same, governing the issuing, payment
of investments on, and cancellation of
bonds, are matters subject to congressional
legislation. and are in no way changed by
the passage of this bill.
IA. That whatever reserve funds NAV be
necessary for the expenses of conducting
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 be
approximately maintained at such mini.
mum limit
Is That a sum sufficient to carry out the
provisions OF this act, is hereby appropria-
ted out of any money in the United States
treasury not otherwise appropriated
16. 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 people.
Such money has its fixed value, as the
half bushel measure has its guaranteed
quantity. Next and only factors that
can influence its value is the quantity
for circulation and rate of interest, and
this is provided for also in this bill.
AS it now is, there is money almost
absolutely free for some, while it is
made bv these conditions so dear to