The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-04-08
AN ADMISIsrRA1IoS MEASURE
II Autkortz.s the Issus OF Bosas asa d.
rsets the Coi.sg- OF the s-iG.,o-sEe

II Authorize the I.sus OF Bosas ass d.
rsets the Coi.aE- OF the s-igu,orsEe
WARRINGTON. April IA bill was introdu ced
In the House to-day which meets the views
expressed By the President In his message
vetoing the Seigniorags bill and exactly har-
monies with certain statemen ts NJ ads By we'll
informed Treasury officials as to y projected
Administration measure 1t authorizes the
issue OF three per cent bonds to protect the
gold reserve and directs the coinage Of the
silver seigniorage. Mr.. Adolph Meyer OF New
Orleans has apparently been chosen as the
sponsor for the bill. which. according to re-
ports previously received, meets the approval
Nj. Meyers bill repeAls so much OF the sps-
Gle Resumption act OF 1879 as authorizes the
81 ssss. 30 sra
the rate Of =. =. and per cent respectively.
and In lieu OF these bonds the Secretary Of the
or registered Donos Of the United states In de-
nominations Of SO and multiplss thereof. pay
interest at : rate not exceeding 3 per cent.
per Arnup. PAYABLE quarterly In coin. and
less than par The bonds shall have ike quail.
Sy q; Isl q july i: 1875: and he s.sfsi.sy
tSs . .as Set pirsstns the P sna
urY Notes Thereon, and for Other PURPOSES"
approved July IA. 500
Ino secretary OF the treasury . AutnOrlZe0
BY section to issue and sell bonds OF the
character and description mentioned at not
less than par In coin. and Apply the proceeds
thereof to the REDEEM ptlon OF the t~n-Jear iys
Der cent bonds now OutstAndinR or he may
exchange the same for such ten Year five per
cent. bonds: hut In making such exchanges
and exemptions the 1--WE per cent, bonds shall
be received at the Treasury at . price not less
favorable 10 the Government than three per
cent. basis on the Investment In said nve per
cent bonds for the period they have 10 run
from the date OF such REDEEM pti0n or exchange.
BY section 3 the Secretary Of the TrsasurJis
authorized and directed to coin into standard
silver dollars, as rapidly as practicable.
~ ltO245 fine ounces Of the silver bullion
nov hsld In the Treasury. and the said coins
are 10 be raid monthly into the Treasury as
miscellaneous receipts. and such dollars shall
be legal tender 81 their nominal value for all
debts aud dues. public aud private. except
where otherwise expressly STIPULATED in the
contract The Secretary may issue certificates
on said coin In the forms and OF the denoml-
nations now authorized By Law. which eertif-
Gates shall be receivable for customs. taxes.
and all public dues. and when so received may
be Tsissued.
Section provides that the Secretary Of the
Treasury may receive silver certificates on de-
post. without interest. from any national
tanking association. in sums Of not less than
s. 900. payable on demand In silver seTtih-
eEtes. or in standard dollars. at the places
where the deposits we're made, The eeTtih-
OF the lawful money reserve 81 the association
but the certificates issued therefor mar be
counted IS part Of lite lawful money reserve.
and m ~ be afrsPtsd in the settle snt Of Clear
Ing House balances at the places where the de-
posits therefor were made.