Mohave County miner., 1893-07-29
THE SHERMAN Law.

For the beneit Of the people eens,.
ally the text OF the act is here printed
u Is entitled: An act directing the pur.
chssc OF silver bullion and the issna
OF treasury notes thereon and for o,bs,
purposes" The bill was approved inv
l4,lS90.
Sac. l. That the secretary Of the
treasury is hereby directed to purchase
from time TO time silver bullion to the
aggregate amount Of $500 900 ounces
or 90 much thereof as may be offered IN
each month, ut the market price there.
OF, not exceeding one dollar for 37l II
grains OF pure silver, and to issue in
payment OF such purchases Of silver
bullion treasury notes Of the United
States, to be prepared by the secretary
OF the treasury in such form and of
denominations, not less tuan one dollar
OF more than $1,000, as 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. 2. That the treasury notes Issued
IN accordance with the provisions Of this
set shall be redeenabIe on demand, in
eoin ut the treaury of the United States
or nj the Office Of any assistant treasurer
oil the United States; and when 90 re.
deemed may be reissued; but no greater
or less amount OF such notes shall be-
outstanding at amy time than the cost of
the silver bullion and the standard sil.
yer dollars coined therefrom, then held
40 the treasury purchased by such notes
aud such treasury notes shall To a legal
sender In payment OF all debts, pubiic
and private, except where otherwise
expressly stipulated in the contr act,
sad -asll Dc receivable for all customs
taxes aud all puolic dues. and when 70
received may be reissued; aud such
notes, when held by any banking
association, may DO counted as a part Of
its lawful reserve, That upon demand
OF the holder Of any Of the treasury
notes herein proved for, the secretary
OF the treasury shall, under such
regulations ~ he may prescribe, redeem
such no'es in gold or silver coin, at his
discretion, Il being the established
policy Of tho United States to MAINTAIN
the metals an parity with each other
npoa the present legal Rates, or such
ratio - may be provided by law.
Sec. 8 That the secretary Of the
treasury shall each month CON 1000 600
8. Of silver bullion purchased under
the provisions OF this &cs into standard
silver dollars until ihs lat day OF June,
1891 and alter that time he shall coin
Of the silver bullion purchased under
Shs provisions Of this act 40 much as
may No necessary to provide for the re.
d.nption Of the treasury notes herein
provided for, and any gain or seigniorsge
arising from such coinage shall os &C.
counted Tor and paid into the treasury.
Sec 4. That the SILVER bullion par.
chased under the provisions ot this act
shall be subjscs to the req ,irements Of
existing laws and the regulations Of the
mint service governing the methods Of
determining the amount Of pure silver
contained. and the amount Of charges
or deductions, II any, to he made.
Sea-. 5. That 80 much Of the act of
February %, 1873, entitled IAN act to
autho,ise the coinage Of the standard
silver dollar and 10 RESTORE its legal
tender characters. "ss requires the
monthly purchase and coinage Of the
sane into siive dollars of not less than
s2,OOO.0O0, nor more than 1900 OOO
worth Of silver bullion, 10 hereby re-
pesled.