The times. [volume] (Richmond, Va.) 1890-1903, 1894-04-08
NEW SEIGNIORAGE BILL.
an IDMINfSIRITION MEASURE IN
TKODUCED ~ TnE AoUSE
To Issue Three Fer Cent. Bords In Pre-
tsct ""ld Reserve and st tho same Time
Proceed with Coinage OF seignIor. e..

WASHINGTON. April "A bill was ip-
troduced I'm the Rouse to-day which
exactly falls In With the statements
made by we'll informed Treasury officials
as to a projected aiministfsticn measure
combining authority TO issue three per
cent. bonds and protect the gold reserve.
and 10 Pre- ceed with the coinage OF the
silver ssigniorage. Tire Louisis na senator's
and most Of her representatives have
supported the discarded policy Il the al
ministra.on on the silver QUESTION. Repre-
sentative A1olph Meyer. 81 New Orleans.
has apparently been chosen as sponsor
for the BILL which. according 70 publish
ed report. meets The approval OF the
President and Secretary Carlisle.
PROVISIONS cF 1a1 nifr.
MIR. Meyers bill repeats so much 81 the
specie resumption act as authorizes the
Secretary OF the Treasury 20 issue and
sell bonds OF the United States bearing
interest at the rate OF four per cent.
four and half. and live per cent. re-
spec,ively, and I'm lieu OF these bonds
the Secretary Of the Treasury Is au-
thorized TO issue and to sell coupons or
registered bonds Of the United states. or
denominations of Sel and muliiples
thereof. payable in coin live years after
date. bearing interest at rate not cx~
ceeding three per cent per annum pay
able quarterly lin coin" ana 10 sell and
dispose OF them for Coin" at not less
than par The bonds shall all have liks
qualities and exemptions as bonds au-
th0rized by the act OF July II, 1875. and
the Secretary shall hold and use the pro-
ceeds Of the bonds for the purpose speci-
fed In said act. and the act entitled AN
act directing the purchase OF silver bull
nj h. Of
on. and for other purposes" approved
July IL. 1880.
The Secretary OF the Treasury Is au-
thorized by section tc sell bonds of tho
character and description metionci 1T
not less than par. aud apply the pro-
ceeds thereof to the redemption of ten
year per cent bonds now outstanding.
or he may exchange the same for such
ten year per cent. bonds: but I'm making
such exchanges and redemption per
cent bonds shall be received at the
Treasury az price not less favorable
10 the Government than "A , per cent.
basis on investment I'm said per cent.
bonds for the period they have to run.
from date OF such redemption or *
change.
COINAGE OF THE BULLION.
BY section the Secretary OF the
treasury ~ authorized ana directed 10
coin into standard silver dollars, as
speedily as practicable. 42.gis.g2, fine
ounces of silver bullion now held In the
Treasury and said coins are 10 be paid
monthly In the Treasury as miscellaneous
receipts, and such dollars shall be legal
tender at their nominal value for all
debts and dues. public and private. ex-
cept where otherwise expressly stipulat-
ed I'm the contract. The Secretary NAV
issue certificates on said coin In forms
and Of denominations now authorized by
law, which certificates shall be receiy-
able for customs. taxes and all public
dues, and when so received may be re-
issued.
Section 4 provides that the Secretary
Of the Treasury may receive silver GER
tifcates on deposit without interest. from
any national banking association, on the
sums Of not less than 5000, payable on
demand I'm silver certificates or IN stand
ard dollars, at places where deposits
were made. Certificates so deposited shall
not be counted as part Of the lawful
money reserve OF the association. but
certificates issued therefor may be count
ed as part OF It's lawful money reserve.
and may be accepted I'm payment OF clear
ing-house balances al places where de-
posts therefor were made.