Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1893-12-22
VOORHEES, NEW BILL
Text of the Proposed
Measure.
Provides for Coinage of Seignior-
age at 100000 a Month.

The full text OF Senator Voorhees, silver
bill is as follows:
Be it enacted, etc, that the seigniorage or
profit fund which has resulted from the coin
age of silver bullion, under the acts OF Feb.
%, 1878, and July Il, 1890, or which would
result from the coinage OF such bullion.
shall be coined into silver dollars Of the
standard weight and nneness, with full legal
tender quality, at the rate Of not less than
1000, 900 per MONTH and such dollars shall
be covered into the treasury.
Sec. 2 That when all the seigniorage or
profit fund bullion specified in the first sec
ton Of this act has been coined, as therein
directed il shall be the duty OF the secretary
OF the treasury to purchase each
month silver bullion at the market value in
quantities sufficient 10 coin not less than
$4,000 900 each and every month; and he is
hereby directed to coin the said bullion month
ly. As fast rs purchased, into standard silver
dollars, and sum sufficient TO carry into
effect the provisions Of this act is hereby ap-
propriatcd out of any money in the treasury
not otherwise appropriated.
Sec.3 That when any paper circulating
notes or certificates uf whatsoever character
Of determinations less than Sl0, issued under
authority OF the United States, except national
bank notes or certificates redeemable only In
silver dollars, shall be received at the treas
ury or any suh-treasury, they shall not be re-
issued, but shall be assorted. counted and
recorded and Immediately destroyed, in ac.
cUrdance with the existing provisions OF law.
and as rapidly A. said notes or certificates are
destroyed they shall he replaced by an equal
amount of like notes or certificates OF de-
nominations not less than Sl0.
Sec. 4. That hereafter no national bank
note shall bc issued Of a less denomination
than Sl0. and all such national bank notes,
han Iy.a,t sha a,,lA-
treasury, shall he destroyed in accordance
with law; and the national banking associa-
tiOhs whose notes are destroyed under the
provisions Of this act shall lie respectively
required to substitute notes OF denominations
not less than : 10 in lieu OF those destroyed.
Sec. 8. That from and after the passage
Of this act, the coinage Of the e.. 80 gold
pieces and the five dollar gold piece is here
10y prohibited, and the coins above named
shall not he struck or issued by the mint OF
the United States, and such coins, when re-
coivcd at the treasury or any sub-treasury,
shall be Withdrawn from circulation and re-
coined into eagles and double eagles In ao-
cOrdancc with law.
Sec. 6. The President Of the United States
il hereby authorized to appoint five commits
sioners to an International conference, to be
held at a place to bc hereafter designated,
with a view to secure internationally. a fxity
OF relative value between gold and silver
money, by means OF IL common ratio between
these metals with free mintage at such ratio,
and for compensation of such commissioners,
and for all reasonable expenses connected
Herewith, to be approved by the secretary OF
state including the proportion to be paid by
the United States for the joint expenses of
such conference 80, 900 or SO much thereof
rs may be necessary, is hereby appropriated
out OF any money in the treasury not other
wise appropriated.