The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-04-17

NJ TYSON. the author OF the above
ortiole has prepared the following
eo.ncial bill. and it will be Introduced
10 senator PETER during this session:
RILL directing the issue OF tuII
1oool tender United States Treasury
no,os irredeemable in coin, ana Tor
other purposes:
Re # enacted by the Senate and House
of Representatives of the O"sted
States of America in Congress as
Senpbied:
SECTION 1 That the Secretary OF
the Treasury is hereby directed to issue
two billion dollars of full legal tender
States Treasury notes, ire
peemable in coin, receivable for all de-
mands. public and private, and that no
notes of a less denomination than tnree
dollars be issued:
Sec. 2 That one billion five hundred
million dollars of said amount shall be
distributed pro rata among the States
and Territories composing the United
States. to be subdIvided among n
counties thereof. That the several
counties shall loan said funds to n
or other citizens thereof, on
real estate security, the loans not ex-
ceedlng one half the assessed value
thereof, and at not more than three per
interest, payable semI-annually.
That the interest thus accruing shall
be applied to school, or other purposes,
as the several States and Territories
NAV direct. That said loans will run
t ~enty years, provided that the inter
est be promptly paid, the borrower,
having the privilege of paying, n
whole or in part, earlier If he 80 desires.
That no loan to any n person shall
exceed five hundred dollars, That city
and town corporations, or expenditures
for county purposes, will not be limited
in the mount of the loan, provided
that the sun desired shall first have
been submitted to the voters of the re
spective counties and approved by a
majority thereof.
Sec 8 That the residue, Eve hundred
million dollars, shall be applied to the
general expenses of the government,
and that when received into the Treas
ury it shall be paid out again.
Sec. 4 That any person refusing to
accept said notes, or any other United
States currency, at their nominal value
will be considered guilty Of q misde
meanor, and upon conviction thereof
will be subjected to fine Of not exceed
ing one thousand dollars, and lmprison-
ment not exceading thirty days, one
or both at the discretion of the court.
Sec. 5. That all United States notes,
other than the foregoing, when paid
into the Treasury shall be destroyed
and notes of the above kind mot q pOr-
ton of the two billion dollars) shall be
issued to the same amount In lieu
thereof.
Sec 6 That the Secretary of the
Treasury Is hereby directed to pur-
chase all silver bullion mined in the
United States that may be offered, in
lots of the value of o less than one
hundred dollars each, at it's par value
of one dollar and twenty nine one
hundredths cents per OuAce, less
the usual charge for parting, coin
prior to February 18th, 1878; that an
additional charge @Of three cents per
ounce shall be made to cover the ex
pense of distributidg the silver coins
per express, through the mails or other
wise; that payment for said silver bull
lion may be made in silver coin or in
United States Treasury notes of the
above issue, at the option Of the Secre-
tary of the Treasury; that the silver
bullion shall be coined and applied to
the expenses of the government, pro-
vided that said coinage shall not ex-
coed one hundred million dollars IN
any one year.
Sec. z. That all soldiers, sailors and
teamsters who served sixty days on
either side, North or South, in the late
war of the rebellion will be entitled TO
receive a pension at the rate of eight
dollars per month from the time they
become sixty two years old that their
widows Will be entitled to receive at
the same rate, regardless of age, pro
vided that their husbands, if living,
would be sixty two years old; if not
sixty-twO, from the time they would
become that age.
Sec. 8. That this act will 20 into
effect within thirty days after it's
passage, aud that q sufficient sum for