The Russellville Democrat., 1893-07-27
THE SHERMAN ACT.

THE SHERMAN ACT.
 In view of the early converting of congress for the purpose of repeal ing the Sherman act, which has been discussed pro and con by all parties, and about which no small amount of public interest will be manifest ed until it is finally disposed of, we publish the entire bill, so that our readers may have an intelligent con ception of it's objects and purposes.
 Following is a brief history and full text of the law which is now causing so much discussion and az itation throughout the country
 The House had passed early in June, 1890, bill directing the pur- chase of silver bullion and the issue of treasury notes thereon, prepared by Mir. Windom, then Secretary of the Treasury. The senate rejected important clauses of the House bill, and passed what was known as the Senate bill. The House rejected all
 the Senate amendments except one and a conference committee was ap- pointed to prepare a compromise bill.
 On July 7, 1890, a committee of conference, consisting of Senators Sherman, Jones of Nevada, Vest of Missouri, and Harris, and Repre- sentatives Conger, Walker of Mass achussetts, and Bland Vest and Bland not signing the report), re ported an agreement as follows
 Be it enacted, etc, That the Sec retary of the Treasury is hereby di
 rected to purchase from time to time silver bullion to the amount of 4,500,000 ounces, or so much thereof as may be offered, in each month, at the market. price thereof, not exceed ing Sl for 37l.25 grains of pure sil- yer, and to issue in payment for such purchases of silver bullion Treasury notes of the United States, to be prepared by the Secretary of the Treasury in such form and off such denominations not less than $l nor more than $l ,000, us he may prescribe, and 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. ,. That the Treasury notes issued in accordance with the pro- visions of this act shall be redeem 1 able on demand in coin in the Treas ury of the United States, or at the office of any Assistant Treasurer of the United States, and when so re- deemed may be reissued; but no greater or less amount of notes shall be outstanding at any time than the cost of the silver bullion and the standard silver dollars coin ed therefrom then held in the Treas ury purchased by such notes; and such Treasury notes shall be le- gal tender in payment of all debts public and private, except where otherwise expressly stipulated in the contract, and shall be receivable for customs, taxes and all public dues, and when so receivable may bel reissued, and such notes when held by any National Banking Associa tion may be counted as a part of it's lawful reserve. That upon demand of the holder of any of the Treasury notes herein provided for the Secre- tary of the Treasury shall, under such regulations as he may pre- scribe, redeem such notes in gold or silver coin at his discretion, it being the established policy of the United States to maintain the two metals on parity with each other upon the present legal ratio, as may be provided by law.
 ''Sec. g. That the Secretary of the Treasury shall each month coin . 2,000, GOO ouncesof the silver bullion ( purchased under the provisions of ( this act into standard silver dollars until the lst day of July, 1891, and after that time he shall coin of the silver bullion purchased under the provisions of this act as much as 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 Treasury.
 Sec. I. That the silver bullion purchased udder the provisions off this act shall be subject to the re of existing laws and the Of the mint service gov crning tho methods Of detcrmin. ing the amount Of pure silver con tained and the amount of charges or fl any, Co be made
 Sec 5 That so much of the act of February 2S, 1878, entitled 'an act to authorize the coinage of the standard silver dollar and to restore its legal tender character. as requir es the monthly purchase and coin age of the same into silver dollars of