The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-02-10
The Democrats Will at Once Intro
duce the Bland Free Coin
age Bill.
It's Consideration at an Early Date
Will Be Demanded by
Them.
Text of the Measure That Will He Pre-
sented-Mr. Bland Discusses the Mat
tor-New Provisions.


the Fifty-second congress- has been defined
and the Bland free coinage bill is to be
ordered favorably reported by the house
committee on coinage, weights and meas-
ures tomorrow. This was formally de-
cided upon by the free coinage members Of
the committee and US result of a series Of
conferences of free coinage men, which
closed to-day, it has been determined that
not only shall the Bland bill be favorably
reported, but that speedy confederation
shall be forced in the house. The free
coinage men to-night claim that Of the 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
free coinage about forty will come from the
democratic side. The bill, as it will be re-
ported, is substantially:
Section 2. The unit Of value in the
United States shall be the standard silver
dollar as now coined, 412119 grains standard
silver, or the gold dollar, 258 grains stand
ard gold; standard gold and silver coins of
the United States to be legal tender in pay
ment Of all debts. Any holder Of gold or
silver bullion of the valne of 800 or more,
standard tineness, shall be entitled to have
the same struck into any authorized stand
ard coins of the United States free Of
charge at the mints Of the United States,
or may deposit the same at such mints and
receive therefor coin notes equal in amount
to the coinage value of the bullion depo
tied, and the bullion. shall become the
property Of the government, Coin notes so
issued shall be in denominations not less
than 81 nor more than $1,000, and shall be
also legal tender.
Section 2. After the passage Of this act
it 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: all
such notes received in the treasury to be
cancelled and destroyed and the coin notes
provided for in the first section issued in
lieu thereof; provided, this shall not alter
the legal tender character of such notes
now issued.
| Section 3. Coin notes herein authorized
may be reissued, but the amount at any time
4 outstanding shall not be greater or less
than tie value held i'll the treasury, said
notes to be redeemed in coin on demand at
the treasury or any sub-treasury, and bull
necessary for such redemption.
| Section 4. Any holder Of full legal ten
der gold or silver coin of the United States
to the amount of $40 or more may deposit
the same at the treasury or any sub-treas-
ury and receive therefor coin notes herein
authorized.
Section 5. The act of July IA, 1890, is re-
peaed.
Section Z. AS soon MS France shall re-
open her mints to the free and unrestricted
coinage of silver at her present ratio, 1919
pounds of silver to be worth one pound of
GOLD. .'rioy, it shall be the duty of the presi-
dent Of tho United States to make public
proclamation of that fact, wheleupon said
ratio shall be the legal ratio of the United
States. and thereafter the standard silver
dollar shall consist of 400 grains OF stan
dard silver, and the law relating to stan
dard silver dollars of 41215 grains in the
treasury, or coming in thereafter, shall be
practicable 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. 1t contemplates
ver certificates and treasury notes issued on
bullion and gold certificates issued on gold
into notes ledeemable in coin. thus con-
vertinC our paper into bi-metal paper, in
stend of keeping up the distinction between
gold and silver in our parer issues. This
conforms to the idea Of coming both met
ais on an equality, gold and silver free.
His bill, he said, also differs from the 9TH
ers in the provision about France, 'It ia
claimed" snid Mr.. Bland, "that France
will not resume free coinage now because
the difference between our ratio of six
teen to one and the French ratio of l5i5 to
one would cause all our silver to 90 to
French mints. There can no longer be q
refusal on the part of France to ooin silver
free because our ratio is different. Person
ally I care little for this, but there are many
people who think we ought to have COM
! mon ration. and have no objection TO it. y