Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1892-02-12
FREE COINAGE BILL.
Full Text of the Measure as Reported to
Congress.

Congress.
WASHINGTON, Feb. 12.-The full text
of the free coinage bill adopted by the
house committee on coinage, weights
and measures is as follows:
SECTION THAT the unit of value in the
United States shall be the standard silver
dollar as now coined, consisting of 4i2 12
grains standard silver, or the gold dollar
of twenty-five and eight-tenths grains
standard gold; that the standard gold and
silver coins OF the United States shall be
legal tender in payment of all debts,
public and private. Any holder of gold
or silver bullion of the value of 800 or
more, of standard fneness, shall be en-
titled to have the same struck into any
authorized standard coins of the United
States, free of charge, at the mints of the
United States, or the owner of the bullion
may deposit he same at such mints and
receive ther fore coin notes equal in
amount to the coinage value of the bullion
deposited, ari the bullion thereupon shall
become the property of the government;
that the coin notes so issued shall be in
denominations not less than 81 nor more
than $40, and shall be a legal tender in
like manner and invested with the same
monetary uses as the standard gold and
silver coins of the United States.
SEC. 2-After the passage of this act it
shall not be lawful to issue or reissue
gold or silver certificates or treasury
notes provided for in the act of July IA,
1890, entitled "An act directing the pur-
chase of silver bullion and the issue of
treasury notes thereon, and for Other
purposes" That all such certificates and
treasury notes when received in the treas
ury 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 so can
celed and destroyed, provided that moth
ing herein shall be construed to change,
modify or alter the legal tender character
of such certificates or notes now issued.
SEC. 3-That 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
the coin and the bullion at coming valve
held in the treasury. That the said coin
notes shall he redeemed in coin on de-
mand at the treasury or sub-treasury of
the United States; and the bullion de-
posted shall be coined as fast as may he
SEC 4-That any holder of 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 therefore coin notes herein
authorized.
SEC. 5-That the act of July IA, 1890,
rected, be and the same is
hereby repealed
SEC. 6-That so soon as France shall
reopen her mints to the free and unre
stricted coinage of her silver at her pres
ent ratio, namely fifteen 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 to imme
diately make public proclamation of that
fact, whereupon the said ratio shall be the
legal ratio in the United States and there
after the standard silver dollar shall con-
sist of four hundred grains of standard
silver, and the laws relating to the stand |
ard silver dollars of 412% grains Of stand |
ard silver shall be applicable to the new
dollar of 400 grains standard silver. That
the silver dollars of ~ grains then in
the treasury or thereafter coming into the
treasury shall Immediately and as fast rs
practicable be coined into dollars of 400
grains standard silver. Any gain or
seignorage arising therefrom shall be ac
for and paid into the treasury.
SEC. THAT the secretary of the treas
ury is hereby authorized and required to
make such rules and regulations as may |
be necessary to carry into effect the pro-
visions of this act.