The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1894-04-08
Citations.


troduced in the House to-day which ex-
actly falls in with statements made by
we'll informed Treasury officials as to a
projected administration measure con-
ferring authority to issue three per cent.
bonds and protect tue gold reserve, and
selgniorage.
Louisiana Senator'S and most OF her
representatives have supported the dis
carded policy CT the administration on
the silver question Adolph Meyer, OF
New Orleans, has apparently been
chosen As sponsor for the bill, which,
according To published reports, meets
with tho approval OF tho Presld mt and
Secretary Carlisle.
Meyers bill repeats so much OF tee
specie act as authorizes tho Secretary
of the Treasury 10 issue and soil bonds
of the United States bearing in crest at
tho ratio OF per cent, AZ ana per
cent. respectively, and IN lieu of these
boads tho Secretary OF the Treasury is
authorized to issue and sell coupons or
registered bonds of the United States
in denominations OF $50 and rnultiples
thereof, payable in CON iivo years after
date, bearing interest ct a rate not
exceeding 3 per cent. por annum, pay
able quarterly sin coin" and to sell and
dispose OF them for ''cion" at not less
than par.
The bonds shall have like qualities
and exemptions as the bonds authorized
by the act Of July IA, 1878, and the Sec
rotary shall hold and use the proceeds
OF such bonds for the purpose specified
in said act and the act entitled "Aa act
directing the purchase OF silver bullion
and the issue OF Treasury notes thereon,
and for other purposes" approved July
IA, 1890.
The Secretary OF the Treasury is au-
thorized by section to issue and sell
bonds Of the character and description
mentioned at not less than par in coin
and apply tho proceeds thereof to the
redemption OF the ten-year five por cent.
bonds now outstanding or he may ex.
change tho same for such ton year five
per cent bonds, but in making such ex-
change and redemptionss five per cent
bonds shall be received AZ tho treasury
at g price not less favorable TO the gov
eminent than three per cent basis on
investment in same five per cont bonds
for period anu have to run from the
date OF such redem psion or exchange.
and tho Secretary OF the Treasury is
authorized and directed TO coin into
SCaHuuIu SllSGr uOiiSrS as soon as pr2C-
ticable 42,6G0,245 fine ounces Of silver
bullion now held in the treasure and
said coins are to be paid monthly into
tho treasury as miscellaneous re-
ceiptS and such dollars shall be- legal
tender at their nominal value for all
debts and dues, public and private, ex-
cept whore otherwise expressly s.ipu-
lated in the contract.
Tine Secretary may issue certificates
on said coin in forms of denomination
now authorized by law, which certif-
Gates shall DO received for customs,
taxes and all public dues, and whom 50
received may be reissued.
Section four promises that the Score
tary OF the Treasury may receive silver
certificates on deposit without interest
from any nationsi banking association
III sums of not less than SIS, 900, payable
on demand in silver certificates or in
standard dollars at places whore de.
posts were made, certificates SO depos-
lied shall not be counted as part Of the
lawful money reserve OF the associa-
ton, bu: certificates issued therefor
may DO charged as a part of It's lawful
money reserve, and may be accepted in
settlement OF clearing house balances at
plsces where deposits therefor wore
mSde.