Middlebury register. (Middlebury, Vt.) 1886-1937, 1895-09-06
THE SILVER QUESTION.

the silver dollar the unit OF measure anu
to contain 81 ZIG grains of pure or ZIG
grains standard silver. This dollar,
called the standard dollar, remained the
unit of measure until. unknown to the
American people, it was dropped in 1873
st the same time silver was demonetized.
1t was again established in 1873, and
has always contained, and now contains,
the same number of grains of pure silver,
though the alloy in it has been altered.
This same law of April, 1892, in section
! IL says:
SEC. II. Ind be il FURTHER e1dctcd, That
/ the proper tional value of gold to silver in
all coins which shall by law be current
as money within the United States, shall
be as fifteen to one, according to quantity
in weight, of pure gold or pure silver;
| that is to say. every fifteen pounds weight
of pure silver shall be of equal value in
all payments with one pound weight of
pure gold, and so in proportion as to any
/ greater or less quantities of the respective
metals.
The remaining laws referring to this
subject are as follows:
ACT OF FEBRUARY %, 1SG2.-AN ACT
TO AUTHORIZE TIE ISSUE OF UNITED
STATES NOTES, AND FOR THE RE
DEMPTION OR FUNDING THE FLOAT
ING DEBT OF TIE UNITED STATES.
BE it enacted, etc., That the secretary
of the treasury Is hereby authorized to
issue on the credit Of the United States
/ $50, 900, 900 of United States notes, not
bearing interest, payable to bearer, at
the treasury of the United States. and Of
such denominations as he may deem ex-
pedient, not less than five dollars each !:
/ Procidcd, hotcerer, That fifty millions OF
said notes shall be in lieu of the demand
Treasury notes authorized to be issued
bv the act of July IL, 1861 which said
demand notes shall be taken up as rapid
w as practicable. and the notes herein
provided for substited for them: 1Dd
or0riled htither. That the amount of
the two kinds of notes together shall at
no time exceed the sum of $50, OOOOOO,
and such notes herein authorized shall
be receivable in payment of all taxes,
internal duties, excuses, debts and de-
mands of every kind due to the United
States, except duties on imports. and of
all claims and demands against the
United States, of every kind whatsoever,
except for interest upon bonds and notes,
which shall be paid i'm coin, and shall
also be lawful money and legal tender
i'm payment of all debts, public and pri-
vate, within the United States, except
duties on imports and interest as afOre-
said. And any holders of said United
States notes depOsiting any sum not
less than fifty dollars, or some multiple
of fifty dollars, with the treasurer of the
United States. or either of the assistant
treasurerS shall receive in exchange
therefor duplicate certificates OF deposit,
one of which may be transmitted to the
secretary of the treasury, who shall
thereupon issue to the holder an equal
amount of bonds of the United States,
coupon or regis tered, as may by said
, holder be desired, bearing interest at the
rate Of six per centum per anpum, pay
able semi-annually, and redeemable at
the pleasure of the United States after
five years ard payable twenty years
from the date thereof. And such United
States notes shall be received the same
as coin, at their par value, in payment
for any loans that may be hereafter sold
or negotiated by the secretary of the
treasury. and may be reissued from
time to time As the eXigencies of the pub
lie interest shall require.
SEC. ). 1nd b. il tUrthcr cHdrted
! That all duties on imported goods shall
be paid in coin. or i'm notes payable on
demand heretofore authorized to be issu'
ed and by law receivable in payment OF
public dues, and the coin so paid shall
be set apart as special fund, and shall
he applied as follows:
First. TO the payment i'm coin of the
interest on the bonds and notes of tht
United States.
Second. To the purchase or payment
of one per centum of the entire debt OF
I~l.. Il. nurfF hi
each fiscal year after the first day of July
1862. which is to be set apart As a sink
ing fund, aud the interest of which shall
in like manner be applied to the pur
chase or payment of the public debt as
the secretary of the treasury shall from
time to time. direct
Third. The residue thereof to be PAID
into the treasury of the United States.
ACT OF JULY II, lSG2-AN ACT TO Al
THORPE AN ADDITIONAL ISSUE OF
UNITED STATES NOTES, AND FOL
OTHER PURPOSES.
BE il cHdctcd, etc., That the secretary
of the treasury is hereby authorized To is
sue. in addition to the amounts heretofore
authorized. on the credit of the UniteC
States one hundred and fifty millions OF
dollars of United States notes, not bear
ing interest, payable to bearer at the
Treasury of the United States, and o.
such denominations as he may deem eX
pedient: Prouhled, that no note shall
be issued for the fractional part of a dol
lar; and not more than thirty-five mil
lions shall be of lower denominations
than five dollars; and such notes shall
be receivable in payment of all loans
made to the United States, and of al
taxes, internal duties, excuses, debts
and demands of every kind due to the
United States, except duties on imports
and interest. and of claims and demands
4 against the United States, except for in
+ terest upon bonds, notes and certificates
g of debt or deposit; and shall also be law
q full money and legal tender in payment
/ of all debts, public and private, within
y the United States, except duties on I'm
+ ports and interest, as aforesaid. Anc
+ any holder of said United States note:
, depositing any sum not less than fifty
, dollars, or some multiple of fifty dollars
/ with the treasurer of the United States
I or either of the assistant treasurers