Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-07-06
TEXT OF THE LAW
how IT BECAME A LAW
Pryss-sos. .. 10 the Psrehzse sss<
cssnsse - ssfser--D.Fs ~
Treasury omes@ls

Many isqaifias hasiag been mAd<on
sernsax the prosi<ions u the ia~. the
fali ssxt = given herewith The hos4s<
hsd passed early IN june. $50 . tan
directing the purchase of ssiser hulilon
aad the issue Of treasury notes shsfsoa
prepared - Mr.. Window. then secretary
ef the treasury. The senate rejected
important cisases % the hoa~s bali and
fSsssd What was knovn a. ths srnate
beL The hous. rejected ali the ssnsste
sznsnila@nts except one and confer.
ezee committee was appointed 70 pre-
pare compounds bin
&c July :. i-to. eommiftss Il c,ia-
ference. consisting n Senators Sherman.
jones n Nevada. Vest II Missouri and
Iiarris snr Representatives congtr.
Walker 81 Massachusetts, and Hand
lHessrs Vest and Bland not signing
Tie Tepotfl reported "a agreement a.
fa.4~s.
~.3c q enacted. etc. That the sccre-
tsFs u the treasury il hereby directed
90 Plrehsse from time to time SILVER
bullion ID the amount Of ftu,tO0
eunces, o. 80 much thereof a. may be
offered. IA each usonth. at the market
prize there,f. not exceeding 81 for sJl -
graIns "a pure siiesr. and % issue IA pay
n~nt fos ieh "a ebases OF silver bal
lion treasufs no<, e the United States.
t. / e prepared ky the secretary II the
treasury Ia such form aud II such de.
nauisnass n not less than g. nor mere
ta1n sitett ~ he may prescribe. and a
sun sufficient - carry into effect the
pres lsl0us x this act y hereby appropri.
aied cut 1t sny asonry In the treasury
not otherwise appropriated.
Parity OF the Two Metals.
See. , That the treasury notes Issued
IN arccrdanco with the provisions %
tsis act shall be redsemable IN demand
n coin ia the treasury ~ the United
states or e the Office OF any assistant
treasurer n the United States. ard
When - redeemed may be reissned; hut
no greater ~ lees amount q notes shall
h. outstanding az any time than tie
cost * the silver bullion and the sfansi-
ard silver collars coined therefrom then
held IA the treasury purchased by such
notes; and such treasury notes shall ie
a legal srrtieE In pas rlcnt OK all debts,
public AMI private. excerpt where other
wise expressly stipulated in the con-
toms. taxes. aud al public dues, and
when ~ received may lie reissueci. ard
suen notes VIXEN held by any national
banking association may be- counted as a
part II ia lawful reserve. That upor
dcnard ~ the holder 20 any Of the treas-
ury noiss herein provided for the secrs-
tary shall, under such regulations as he
hay prescribe. redeem such notes in
gold or silver coin az has discretion. il
heing the estatiisaed policy Of tile
United states 10 Enainiain the two met
as GA PATTY gltll each other upon tile
present legal ratio or such ratio as may
b. provided by law.
Coinage Provisions.
Sec. Z That tho secretary u tie
treasury sail each month cosa 100000
0uuces - the SILVER bullion purchased
under TIE provisions Of this act into
standard silver dollars until the ist dsy
n july. l<si. and after that time lie
stall rciA ~ he SILVER buiisou purchased
unitr tas lroylssona Il this sc. - much
rs NAY b. necessary 20 provide for tie
81 dsaption q. TIE treasury 4otes herein
provided icE. and any gaia or seignior.
axe arisiag from such coinage shall he
accounted Tor AMI PAID into TIE treas.
ury.
Zee 4 That ihe silver bullion pur.
chased unaer TIE ps0vissars x this act
shall BE subject t. the requirements III
existing laws aud the regulations of the
E rnint service governing tie methods III
deteruinin< the amount n pure silver
canf5lned and the amount ~ charges II
deductions. II apy. 10 be made
Src- \ That 50 much of the act %
February =. 1873 entitled an act 20 aii-
thorixe the coinage q ihs standard sill.
YER dollar and 10 RESTORE sss legal tender
character. - rc4Erss The monthly pur.
chase ard cbtraEe a he same into sill
ser tkflnfs n tot 'sss ttaa foocoOonnr
more than S{tmto aogth Of silver
bullion - hereby repealed
Dnty of the Treasurer
-Ss~ s That upon the passage ~ this
act The baiaDcfs standing With the
treasurer q the Unsted states 10 The r..
sfsctivr csesht q rational banks for De.
pe~its uads - redeem the circulating
notes - such banks. and all a posts
thereafter received Tor like purpo~
shall - covered into the treasury A. n