Mexico weekly ledger., 1895-01-17
Senator Vest Tries 1t.
He A FlNAN
CIAL MEASURE In THE
SENATE.
Treasury Notes and Coin Certifi'
Gates Shall be Destroyed
Issue Equal Amount of
New Gold and Silver
Notes.

WASHINGTON, Jan. ll.-fest, Oh
Missouri, to-day introduced his
financial bill in the Senate.
Vests bill provides that all Treas
ury notes and gold and silver certifi'
Gates shall be destroyed and an
equal amount of new notes payable
in standard gold and silver coins
shall be issued and paid out instead
of the old notes. No coin note Of
larger denomination than 5000 or
smaller than $40 shall be issued, but
= the denominations higher than $50
shall not exceed one'fourth Of the
amounto o! the coin notes outstand-
ing at the time. The coin notes are
to be legal tender for all debts.
The second section repeats all laws
which authorize the OF gold
or silver bullion to deposit and re-
ceive gold or silver certificates and
the Secretary of the Treasury is di-
rected to receive no more coin or
bullion in the future.
Sec. 3 provides that the gold Ger.
tificates now outstanding are to be
paid in gold coin and the silver Ger.
tifcates in standard silver coin OF
coin notes. If the gold in the Treas
ury amounts to less than 500, 000,'
600, exclusive of that necessary tC
redeem gold certificates, they are tc
be redeemed in silver coin; if more
than 500, 900 900 the Secretary Of
the Treasury in the exercise OF his
discretion may redeem in either gold
or silver coin.
Sec. A makes it unlawful for any
national bank to issue bank notes
and all acts authorizing all such
issues are repealed. 1t is made the
duty OF the Secretary within twelve
months TO sell the United States
bonds deposited in the Treasury by
national banks to secure circulation
in the case OF national banks retir
ing their circulation or going out Of
business, and after redeeming coin
notes thereby authorized the out.
standing notes or currency az pro.
vided by the national bank act.
The surplus is to be also paid in
the coin notes to the banks owning
the bonds in the amounts respect.
lively due them.
Sec. 5 requires the Secretary o!
the Treasury to have coined as fast
as possible the silver bullion hello
in the Treasury, purchased under
the Sherman nc! of 1890, including
the gain or s~eigniorage, and thi:
coin il TO be used in the payment
Of public expenditures and for the
redemption of the coin notes author
lied by this act.
Sec. 6 Provides that when the
revenues Of the government are moi
sufficient to meet its current expen.
ses the Secretary of the Treasury
shall issue a sufficient amount oil
coin notes to cover this deficiency,
and all laws authorizing the future
issue of Understanding bonds of the
United States are repealed, except
as otherwise provided. The section
also provides that if the gold in the
Treasury at the time the act shall
take effect does not amount to
800, 000, 900, exclusive Of that held
to redeem gold certificates the Secre.
tary Is directed to sell United States
bonds at not less than par in gold
coin, bearing not to exceed 3 per cent
interest, redeemable after five years,
but no greater amount of such bonds
are to tie sold than may be neces
sary to procure for the Treasury the
full amount of 500, 900 900 in gold.
Sec. z provides that silver bullion
brought to any mint of the United
States for coinage shall be received
and coined into standard dollars oil
4l23a grains, but no deposit of silver
bullion of less value than 500 shall
be received, nor shall any bullion be
received that is so based as to be
unsuited for operations of the mint.
The Director of the Mint is to re-
tain as seigniorage and 10 cover in
tie Treasury the difference between
the New York price and the coined
price of the bullion, and this is to be
paid out by the Secretary in the cur
rent expenditures of the govern
ment
The Missouri Masonic Home has
rs inmates, Of which 10 are bows,
10 widows, l maid and 5 brethren.
The receipts were BIS, $685. 90, of
which the Grand Lodge of Missouri