The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-09-06
A COMPROMISE MEASURE

A COMPROMISE MEASURE.
Let Dc SEQ MI. Harter's Little Ante ana
Raise Hin Out Of His Bosts.
During the last session Of congress
Representative Harter. of Ohio, intro
duced a free coinage bill in the house
Its provisions arc - follows:
Section That on and after the passage Of
this act tho purchase Of silver bullion By to
United States shall cease
Section That on and after the passage Of
this act the mints Of the United States shall
be opened to the coinage Of both silver and
gold, upon the same terms existed prior to
1873; provided, however, that al silver and
gold coined hereafter for the account Of tho
owners shall not have any legal tender funo-
ton, and that Instead Of being stamped 'one
dollar" Ave dollars ten dollars" etc, 1t
shall be stamped ton dimeA " ''1fty Dimes"
lone hundred Dimes" etc
Section 8 Nothing in this act shall be con-
struod as taking away the legal tender quality
Of any silver or gold already coined or which
may hereafter be coined. upon tho account Of
the United States.
Why cannot there be bill formu-
lated and introduced in the next regu-
lar session of congress, as a substitute
for Mr.. Harter's bill, that will clearly
define tho issue between nometallism
and metallism and prominently bring it
before the American people?
Twill try my hand at the formulation
Of such a bill.
Be 1t enacted, etc, etc:
Section l. That on and after the passage Of
this act the minis of the United States shall be
closed to the coinage. into money, of both gold
and silver; provided, however, that the United
States government shall, at the earliest posi-
nAriO0 C1in ~ -
United States all silver bullion now In The
vaults of the United States treasury, into ST.
yer dollars OF 4125 grains each. (al0 fne.)
running the mlnts of the United States at their
fullest capacity. until all such silver bullion
shall be SO coined Provided also, that the
government may coin, upon government &C.
count. any gold or silver bullion that it may re-
eetve in pay mont of import duties.
Section Nothing in this act shall DO con-
strued as taking away the legal tender quality
Of any silver or gold already coined or which
may hereafter be coined, upon tie account Of
the United States
Sec. That any owners OF gold or silver
bullion, of tho value Of 500 or more may take
such bullion to the United States mints for ~.
~, melting, refining and manufacture into
ba1s> and 1t shall b the duty Of the director Of
tho United States mint or other proper ofdsials,
upon payment Of q mintage charge to be here
after AIMED by law, to assay melt, refine and
taken to the mints And it shall be the duty
Of the director Of the United States mtlt or
other proper ofnsials, to stamp upon such bars
their weight and dneness - is now done in ease
Of bars manufactured At the United States
m1nts and assay onises
Sec l. That the secretary Of the United
States treasury shall redeem all coin treasury
notes issued by authority and by virtue OF the
so-called Sherman act of July IA, 1897, one-half
In United States gold coin and one-half in
United States silver dollars, and all such coin
notes 30 redeemed, and all such coin notes as
may DO paid into the United States treasury
for public dues shall not be reissueA, but the
United States treasurer shall cancel and de-
stroy the same, issuing in lieu thereof An equal
amount OF the bills or money described and au-
thorfzed to be issued in section Of this act
Section 5. That all import duties due and
payable to tho United States shall DO payable
as follows: One-hah in United States gold coin
or gold bullion at market value, and one-half in
United States silver dollars or silver bullion 1T
market value, and It shall not be lawful to re-
ceive such import duties in any other kind of
money whatsoever Provided however that
there shall not be so received. in any one year,
more than forty million ounces of uncoined
silver bullion
Section 6. That the secretary of the United
States treasury is authorized and directed to
purchase in open market all interest Gearing
bonds Of the United States that may be offered
for sale paying therefor one-half in United
States gold coin and one-half in United States
silver dollars; provided. however, that he shall
not purchase anv such United States bonds at
grea ter price than as follows: Two per cont
bonds par per cent bonds n Of l per cent
premium for each year they have to PUN; 6 per
cent. bonds Il per cent premium for each year
thew have to run. And 1t is further provided
that all gold and silver moneys received for
import duties, not so used in the purchase
OF bonds, or in payment Of interest upon same,
and also the $780, 600 gold reserve fund
shall be covered into a sinking fund and held
for the redemption Of United States notes. as
hereinafter provided and for the payment OF
United States bonds they mature and be-
come due and it shall not be lawful for the
United States treasurer to pay out gold and sill
yer moneys for any other purpose than as
specified and designated in this act
Section Z. That all deficits in the national
revenue available for the payment Of past ap-
propria tons and appropriations hereafter to be
made, including appropriations to be made for
comprehensive system of public improve
ments, shall be met and paid by an issue of in
convertible paper bills Of the denominations
now in use and authorized by law, such money
bills to be absolute and not to bear upon their
face the words promise to pay" and to be a
full legal tender for all debts and dues, public
and private. except duties on imports and in
terest upon the public debt; which money,
when received by the United States treasurer,
may be reissued and paid out upon all legal
current appropriations. Provided, however,
that the total issue of the money herein pro-
vided for shall not at any time exceed an
amount equal to thirty dollars per capita for
the estimated population Of the United States.
Section g. That whenever any United States
notes, commonly known as and called green
backs" are presented at the United States
treasury for redemption it shall be lawful and
the United States treasurer is hereby author
13ed and directed to redeem the same, one half
in gold coin and one half in silver dollars, but
when such not es are so received by him for re-
demption, or in payment of dues and debts OF
any nature. due and payable to the United
States, it shall be his duty and he is hereby au-
thorized and directed to cancel and destroy the
same and issue in lieu thereof an equal amount
Of the bills or money described and authorized
to be issued in section Of this act
Sec. From and after the passage Of this act
the standard silver dollar shall be legal ton
deg, in any amount, in payment Of all debts and
dues, public and private.
Sec. II. All acts and portions Of acts conflict
ing with the terms and provisions of this act or
any portion Of it shall be and are hereby imme
diatelv repealed by and upon the passage OF
this act.
Now don't go into spasms over the
"exceptiOn clause upon the paper bills