The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-01-30
A HEN FINANCIAL BILL.
Prepared and Presented by SEN
ator Voorhees,.
8 PER CENT. CERTIFICATES,
Of the Denominations of $50, $50
and SiOO, TO Be offered For
Sale at Government Deposi-
tories and Postoffices.
Now in COMMITTEES.
Bv Southern Associated Press.


long sessions to duy without accom-
pllshlDg anything. The second ses.
Sion began Mt = p. III. Mr. Voorhees,
had III the meantime formulated his
views luto bill which he had had
printed aud now submitted 1t to the
committee. 1t was soon apparent
that nothing could be done aud m
ADJOURNMENT was taken with nothing
accomplished.
Iha following is the full text of
the Voorhees, bill:
"Bo IT enacted, etc. SO enable the
Secretary Of the Trenury to provide
tor nnu TO maiutaiu the redemptiun
OF United States notes and also to
enable him to pay current deticien.
cles Ill The revenue, he is authorized.
III addition to the provisions of
the "ct OF January II, 1879, from
time to Time, Mt his discretion, to
Issue certificates OF Indebtedness of
the United States payable to tho
bearer III coin. after three yonrs
from date, with the option of the
United states, OF the denominations
Of $50, $40 and 500, with semi.
annual coupons for interest at the
rata OF per cent. per uuuum, and
to sell aud dispose OF the same for
not less thnn III equal amount OF
lawful money Of the United
States. lie shall offer said certiti
Gates at designated repositories OF
the United States Bnd ut such post
offices as he may select; and such
certificates shall have ike qualities,
privileges aud exemptions described
IN the resumption act OF January
II, 1919, for the bonds herein uu
thorized, and the proceeds thereof
| shall be Used for tho purposes pre-
scr!bed II this act and ior no other
purpose.
Section 2-That upon any de
post already or hereafter made in
the manner required by law, of any
United States bonds or certificates,
henriug interest, any national bank.
lug association making the same shall
hs entitled tOreceIye from the Comm.
troller OF the Currency circulating
| notes OF different denominations, in
blank, registered nud countersiguei
as provided by law, not exceeding
III the whole amount the pur value
OF tue bonds deposited; provided,
that ut no time shall The total
amount OF such notes Issued to any
| such ASSOCIATION exceed the amount
such actually paid III its capital
stock.
Section 3.-That from and after
the passage OF this act, the Secre-
| tary OF the Treasury ais hereby
authorized ana directed to receive
1T any United States mint, from
any citizen OF the United States,
silver bullion OF standard tineness
aud com the same into silver dollars
of 4l2.l-2 grains each. The seig-
noirnge on tie said bullion shall be
long TO the United States and
SHAH be tho difference be
tween tue coinage value there
oi and the price OF bullion III Lon
Don on the dny the deposit is made,
and a!i expenditures for coinage
done under the provisions Of THIS
| act SHALL be paid cut of said seigu-
forage; and the Secretary OF the
| Treasury shall deliver to the depus
ltors OF such bullion standard SILVER
dollars equal III AmOUnt to the
price thereof as nioresaid; and when
ever the said coins herein prov.ucu
ior shall bo received into tho Irea
sury certificates III denominations of
less than $40 may be issued thereon,
III tho manner HOW provided by
law"
Three separate votes were taken,
lhe iirst WAS on motion to strike
ont the third section, which pro.
vltes for unlimited coinage of sill.
yer. This resulted III tie vote, as
| follows:
To strike -Aldricb, Allison,
sherman and MolriIl. Republicans,
and McPherson, Democrat. MIR.
Jones, OF Nevada, was absent and
not paired. Those voting 10 retain
this provision were Voorhees,, Jones,
of Arkansas, Harris, White aud
Vest, Democrats.
The vote 10 reporting the bill as
submitted by AIR. Voorhees, was as
follows: For reporting Harris,
voorhees, and Jones. Against re
porting Sherman. Morrill,, Aldrich.
Allison, NcPherson, Vest and
White.
The vote was then taken on Mr..
hIarIch's proposition TO report tue
hrat two sections OF the bill, and IT
WAS defeated by a tie vote-tEe same
rs that taken on the free coinage
section.
Alter this action Mr.. Vest pulled
from his pocket n fsec coinage bill,
prepared hy MIR. St. John, OF New
YORK, and offered It for tho consid.
Grafton of the committee,
! Mr.. Aidrioh offered as q substitute