Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-03-17
SATURDAY MARCH II, 1894
The Seigniorase Bill.

Tho selcniorage bill, as it passed DOM
houses of Congress. Is so iemaihao''
for what Senator Villas called ts III
foucities." that we may expect 'he
President to scrutinize II with pehc-
trating eye before he signs It, II IN
decd he shall decide TO sign IT, Ills
dutv 10 examine It carefully VIII not De
affected by his expected determination 10
allow II to become u law without his sigma
ture: for such q determination wou'u
bv no means lessen his responsibilities
4, IN, promises. II viii he his act, II
anybody's, that will convert the Dill
into law.
Pint Il IA not necessary for us 10 re-
mind the reader Of these facts, seeing
that the President IS not man VINO
shirks any responsibility whatever OF
seeks TO know whether the perform
ance Of any public duty will render
him popular or unpopular. Like An
drew jackson, he knows no fear wheh
engaged in the performance of the
functions Of his high Office
We now quote the seignioraee Dill IN
full:
Section l. That the Secretary Of the
Treasury shall Immediately cause 10
be coined as fast as possible the SILVER
br,lion held In the Treasury purchased
under the act Of July II, 1880, entitled
IAN act directing the purchase OF Sill
yer bolton and the issuing or treasury
notes thereon, and for other purposes
fUrfn-
TO the amount Of the gam or seish-
ioraCe OF such bullion-to W.T.: ire
sum OF s5j156,0Sl. and such com ana
silver certificates ISSUED thereon shali
be used in the payment of public ex-
penditures. and the Secretary OF the
Treasury may. in his discretion. If the
needs Of the Treasury demand 1t, issue
silver certificates in excess of such
coinage. provided that said excess shall
NOT exceed tr.s amount of the selgn-
forage as herein authorized TO be
coined.
Section . After the coinage provided foF
in the first section of this act. the re-
mainder Of the silver bullion purchased
In pursuance Of said act of July II, $780,
shall be coined into legal tender standard
silver dollars as fast as possible, ana the
coin shall be held in the Treasury Tor
the redemption of the Treasury notes
issued in the purchase OF said bullion.
That as fast as the bullioD shall be
coined for the redemption Of the said
notes. thS notes shall not be reissued'
hut shall be cancelled and destroyed IN
amounts equal to the coin held at any
time in the Treasury derived from the
coinage herein provided for, and silver
certificates shall be issued on sucA com
In the manner now provided by law
provided that this act shall not be con-
strued to change existing law relating
IN the legal-tender character or mode OF
reclamation OF the Treasury notes issued
under said act of July ia, 1880. Inat d
sufficient sum of money Is hereby appro-
priated to carry into effect the provisions
of this act
Thu first section Is of doubtful con-
struction. There are two opinions as 10
the amount Of silver certificates that can
be issued under It.; but inasmuch as IL
nil, take much time to coin the silver bui-
lion held in the Treasury under the Sill
yer act OF July IA. 1890. the work OF issu-
ing them may so on for long whie
before this questions will need to be
decided. In fact. the whole bill may ior
like reasons be pronounced less DANGER
ons than IT would be II its provisions
could Immediately be carried into erect
The present Congress will continue In ses-
sion for several months yet 10 come.
and assemble again before the whole OF
the new Bland bill will have become
fully operative. In fact new Congress
may find the Secretary Of the Treasury
still issuing silver certificates under the
new Bland. bill.