Waterbury evening Democrat. [volume] (Waterbury, Conn.) 1887-1895, 1893-08-07

dredths grains Of pure silver. and to issue in
payment for such purchases of silver bullion
treasury notes OF the United States to be pre-
pared by the secretary Of the treasury in such
form and Of such ACKNOWLEDGEMENT less than
81 nor more than s.. 00o-as he may prescribe,
and a sum sufficient to carry into effect the
provisions Of this act is hereby appropriated
out Of any money in the treasury not otherwise
appropriated.
Sec 9. That the treasury notes issued in &C
cordance with the provisions of this act shall
be redeemable on demand, in coin, at the treas
ury Of the United States, Sr at the ONCE OF any
assistant treasurer OF the United States and
when SO redeemed may be reissued, but no
greater or less amount of such notes shall be
outstanding at any time than the cost OF the
silver bullion and the standard silver dollars
coined therefrom, then held in the treasury
purchased by such notes; and such treasury
notes shall be legal tender in payment Of all
debts, public and private, except where other
wise expressly stipulated in the contract, and
shall be receivable for customs, taxes and pub
Lilo dues, and when so received may be reissued:
and such notes when held by any national
banking association may be counted a part
OF its lawful reserve. That upon demand of the
holder OF any OF the treasury notes herein pro-
vided for the secretary of the treasury shall.
under such regulations as he may prescribe,
redeem such notes in gold or silver coin at his
discretion. II being the established policy OF the
United States to maintain the two metals on a
parity with each other upon the present legal
ratio, or such ratio as may be provided by law.
Sec. B. That the secretary OF the treasury
shall each month coin 100000 ounces of the
silver bullion purchased under the provisions
of this act into standard silver dollars until the
LIST day of July, 1891, and after that time he
shall coin of the silver bullion purchased under
the provisions Of this act as much may be
necessary to provide for the redemption of the
treasury notes herein provided for, and any
gain or seigniorage arising from such coinage
shall be accounted for and paid into the treas
ury.
M -
der the provisions Of this act shall be subject &c
the requirements of existing law and the regu.
lations OF the mint service governing the meth
DDS of determining the amount Of pure silver
contained and the amount of charges or deduc-
tons, II any, to he made.
Sec 5. That so much of the act of Feb. IS
1873, entitled An act to authorize the coinage
of the standard silver dollar, and to restore its
legal tender character" as requires the monthly
purchase and coinage of the same into silver
dollars Of not less than 100000 nor more thar
S4OOO,OoO worth Of silver bullion is hereby re
pealed.
Sec. Q. That upon the passage Of this act the
balances standing with the treasurer of the
United States to the respective credits OF ma
uona banks for deposits made TO redeem the
circulating notes OF such banks and all deposits
thereafter received for like purpose shall b
covered into the treasury a miscellaneous
receipt, and the treasurer OF the United States
shall redeem from the general cash in the treas
ury the circulating notes of said banks which
may come iRto his possession subject to re
demption and upon the certificate of the
comptroller of the currency that such note1
have been received by him, and that they hav,
been destroyed by him and that no new note
will be issued in their place, reimbursement o
their amount shall be made TO the treasurer
under such regulations as the secretary of thu
treasury may prescribe, from appropriation
| hereby created, 10 be known as national banl
| notes redemption account, but the provisions
| of this act shall not apply to the deposits re
CPlVpd under n a act of
1874, requiring every national bank TO keep il
lawful money with the treasurer of the UniteC
States a sum equal TO per centum of its circu
lation, 10 be held and used for the redemption
/ of its circulating notes, and the balance re
naming of the deposits so covered shall at tn
close of each month be reported on the MONTH,
| public debt statement debt of the Unite,
/ States bearing no interest
4 Sec. I. That this act shall take effect 30 day
from and after its passage.
Approved July IA, 1890.
The Presidents Day of Rest.
President Cleveland spent Sunday at hi
country home in company with Secretar,
/ Lamont. In the course Of the Afternoon
Secretary Gresham drove out and had
short talk with the president. The wealth
er was exceedingly hot, and the gentlemen
| found the breezes that blew over tn
heights much more agreeable than the al
most sitting heat that prevailed in tn
/ city.
Vice President Stevenson reached tn
capital from his home, Bloomington, Ills
and sought the quarters at the Ebbit
House occupied by him when he came t
Washington last March to be inaugurated
He spent Sunday quietly at the hotel an
in the evening went out for short time.
I Rev w. n. Cleveland OF New York
brother of the president, preached in tn
New York Avenue Presbyterian church
The president did not come in from tn
country to hear him, but Secretary Grest
am, Postmaster General Bissell and Pr
vate Secretary Thurber were in the morn
ing congregation.