Pine Bluff daily graphic., 1895-01-27
A CURRENCY BILL.
Senator Jones Has Introduced the Follow
 ing Bill in the Senate.

|
 ing Bill in the Senate.
 l. Authority is given to the Sec
 retary of the Treasury to issu
 bonds of the United States to tn
 amountof $500, 900, O0Opayable in coli
 of the present standard value, an,
 bearing interest at the rate of 3 pc
 cent, not to be sold atless than par
 the bonds to mature thirty year
 from date, and be redeemable at tn option of the Government afte thirty years. The Secretary is au thorized to use the proceeds of tn, sale of the bonds to defray eurren expenses of the Government, an( for the redemption of United States and Treasury notes issued under tht act of July IA, 1890. The bonds art to be of the denomination of $20 and $50 and multiples of those sums al the option of the purchasers. The bonds are to be free from all taxes. It is declared to be the intent tion ol the act to give full opportunity tc for general subscriptions for bonds. Payment for the bonds may be made in gold coin, but the Secretary is al- lowed to accept United States notes and Treasury notes issued under the act of 189O
 2. National bank associations are permitted to issue circulating notes to the par value of United States bonds deposited with the Secretary of the Treasury, and the tax on such is reduced to one-fourth of per cent.
 B. Hereafter no National banking association shall retire it's eircula- tion without written authority from the Secretary of the Treasury. So much of section F of the act of 1882 as directs the Secretary of the Treasury to receive deposits of gold coin and to issue certificates there for is repealed.
 1. National banking associations desiring to retire the whole or any part of their circulating notes are re- quired to deposit gold coin equal to the amount of notes to be retired, and at all times to keep on deposit with the Treasurer of the United States, in gold coin, sum equal to 5 per cent. of their outstanding cir culating notes.
 5. Not exceeding one-half of the lawful reserves on account of de- posits to be kept by national bank ing associations may consist of United States bonds issued under this act.
 6. Sections 6 and 2 provide for the displacement of all National bank and United States Treasury notes of denomination or less than $10 with silver certificates, explicit declaration being made that it is the intention of the act that neither the Treasury department nor National banks shall issue or keep in circula- tiok any notes otter than silver cer- tifcates of Q less denomination than $10.
 ' The Secretary of the Treasury is directed to redeem and cancel and not reissue the Un; ted States Treas ury notes whenever and as fast as the aggregate circulation of United States legal tender notes, Treasury notes. silver certificates and Ma tional bank notes shall be in excess of the aggregate amounts of these forms of paper money in circulation at the date of the passage of the act.
 8. The Secretary of the Treasury is directed to receive at any United States mint from any citizen of the United States silver bullion of stand ard fneness and coin in silver dollars of 4123 grains each. The seignorage on the bullion is to belong to the United States, and is to be the diff ference between the coinage value and the price of the bullion in Lon. don on the day the deposit is made,
 The Secretary is required to de liver to the depositor of such bullion standard silver dollars equal ir amount to the price of the bullion and whenever these coins shall b( received into the Treasury certifi cates in denomination of less thar $10 may be issued on them as nov provided.
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 Did you ever notice how often aI