The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-08-18

THE SHERMAN LAW.
Text Of the Sherman Silver Pur.
chasing Act Of 1890.
An act directing the purchase OF silver
bullion and the issue OF treasury notes
thereon. aud for other purpose.
Be II enacted In congress sssembleds
That the secretary OF the treasury 10
hereby directed 10 purchase from tiMo
to time silver bullion to the aggregate
amopnt Of 800, 600 ounces, or 90 much
thereof as msy be offered each month, q
the market price thereof not exceeding
81 for 37l.2t grains Of pure silver, and
to issue In payment for soch purchase OF
silver bullion, treasury notes OF the
United States, to be prepared by the soc.
retsry OF the treasury in such form and
OF such denominations mot less than 81
nor moro than $1,000 as be may pre-
scribe, and Q sum sufficient 10 carry into
into effect the provisions OF this oct 10
hereby appropriated out Of any money
in the treasury not otherwise appropri.
ated.
Sec. 2. That tho treasury notes issued
in accordance with the provisions Of this
act shall be redeemsbie on demand, In
coin, ct the treasury Of the United
States, or at the Office Of any assistant
treasurer Of the United States, and when
90 redeemed may be reissued, but no
greater or less amount OF such notes shaII
Do outstanding ct sny time than the cost
OF the silver bullion and the standard
silver dollars coined therefrom. them
held 10 the treasury purchased By such
notes and such treasury notes shall DO
legal tender In payment Of oil debtss
public and private, except where other
wise expressly stipulated Ia the contract
aud shall be receivable for customs, taxes
and public dues, and when 20 received
may be reissued; and such notes when
held by . national banking association
may be counted 90 . part OF its lawful
reserve. That upon demand OF the
holder Of any OF the treasury notes
herein provided for the secretary OF the
treasury shall, under such regulations -
he may prescribe, redeem such notes, In
gold or silver coin at his discretion. tt
being the established policy VI the Unit
ed States 10 maintain the two metals on
10 parity with each other upon the pres
ent legal ratio, or such ratio - may DO
provided by law.
Sec. 3. That the secretary Of the treas.
Jury shall each month coiu 100000
ounces Of the silver bullion purchasoo
lunder the provision or this act into
standard silver dollars until the Let day
'|of Jauusry, 1891, end after that time he
Ishall coin Uf the silver bullion purchased
under the provisions Of this oct - mach
les may be necessary to provide for the
redemption OF the treasury notes heeei0
lprovided for, aud any gain or seignIor.
Isge arising from such coinage shall b
!. Accounted for and paid into the treasury.
Sec. Z. That the silver bullion pur.
chased under the provisions Of this act
shall bs subject 70 the requirements OF
. elexistlug law, and the regulations OF the
J, mint service governing the methods OF
J. determining the amount OF pure silver
contsined. and the amount Of charges or
deductions. II any. to be made.
. Sec s. That 90 much OF the act Of Feb.
d ruasy %, 1878, enlitled IAN act TO su-
|. thorize the coinage OF the standard oliver
4 rld0llsr, aud to restore its legal tender
4 flchsracter," % requires tho monthly pur.
], chase and coinage Of the same into silver
dollars Of not lees than $4,000 600 NOS
. e|more than $4.000.00O worth Of silves
J. bullion, 10 hereby repealed.
lei Sec. 9. That upon the passage OF thta
|act the balances standing with the treas
urer OF the United States TO the rsspec'
Tive credits Of national banks and oil de-
,tI posts thereafter received for like pur'
q pose, shalt DO covered into the treasury }
n lee Q miscellaneous receipt, and the treas
Ct urer OF the United States shall redeem
."fr0m the general cash 10 the treasury tn
is| circulating notes Of such banks which
III may come into bic possession subject &
"A ~ n -
1.-The comptroller Of the currency that sucl
g. notes have been received by him, ant
"A THAT they have been destroyed by him
ks aud that no new notes Will DO Issued !!
of|their place, reimbursement Of thoi
IN amount shall be made to the treasurer
10 under such regulations % the secretav!
=. OF the treasury may prescribe. from q
,ir On appropriation hereby created, 10 b
n. known o. national bank notes redemp
4 ton account, but the prOvisi0ns OF thi
act shalt not apply TO the deposits re
IA ccivcd under section Of the act Of jun
"a 10. 1874, requiring every national banl
be to keep in lawful money with the treas
n urcr or tho United States . sum cQua
q 10 per centum Of lie circulation, 10 b
be held and used for the redemption OF Il
ed lite circulating notes, and the bslanc
Remaining OF the deposits 90 covere'
shsll at the close OF each mont
be reported on the monthly public deh
abatement as debt Of the United State
bearing no interest.
Sec. z. That this oct shsll take effe q
thirty days from and after its pssssge.
o.. Approved July IL. 1880.
lee L. r. 4 st. Louis TO Chicago
w Passengers for Chicago on Train ~
~ y" s5 from jasper TO Evansville. lssvl0
~, jasper st lO:]O .. m, upon iueormtm
- 80 the Conductor, can have the "W0sl0
- ~ Fair Special" on the E. = I. n. hsld q
- them at the junction In EvAasville, ths
:, enabling them TO reach Chicago q 10
~, ~" %. the same day, less than " ho0
~ ernm lamar n Chicago.