The Coconino weekly sun., 1895-02-07
SPRINGER'S BILL.
Provisions of the Bill to Carry Into Enoot
 the President's Recommendations.

WASHINGTON, Jan. 30.-ChairmaD Springer, of the banking and currency committee of the house, has introduced n bill to carry into effect the recom- mendations of the presidents message. The bill is as follows:
 An act to authorize the secretary of the treasury to issue bonds to maintain a sufficient gold reserve and to redeem and retire United States notes, and for other purposes
 De 1t enacted by the senate and house of rep resentltives of the United States of America in congress assembled That in order to enable the secretary of the treasury to procure and maintain a sufficient gold reserve and to re- deem and retire United States legal tender notes and treasury notes issued under the act of July IA, 1890, entitled An act directing the purchase Of silver bullion and the issue of treasury notes thereon, and for other pur- poses," he is hereby authorized to issue and sell at not less than par, except as provided in section ? of this act, United States registered or coupon bonds. in denomi- nations of S20 and $50 and multlples Of said sums respectively, payable fifty years after in gold coin of the United States of the present weight and fineness and bearing interest Ut rate not exceeding per cent per annum pay able quarterly in gold coin; and such bonds and the interest thereon shall have like quail
 
 issued under tho act approved July li is7J, en- titled ''an act to authorize the refunding of the national debt" Such bonds may be sold and delivered in the United States or elsewhere as may be deemed most advantageous to the in- terests of the government
 Sec. 2. That whenever any other legal tender notes or treasury notes shall be redeemed in gold they shall be cancelled and not reissuci: and the secretary of the treasury is hereby au- In to ITnitnI States legal tender notes and treasury notes issued under the aforesaid act of July 14, 1890. in payment for any of the bonds issued under the preceding section of this act, and the notes so received shall be cancelled and not reissued.
 Sec 3. That hereafter national banking as- sociations may take out circulating notes in the manner now provided by law to an amount equal to the par value Of the bonds deposited to secure the same. But this provision shall not apply to any bonds now outstanding bear ing interest at the rate of per cent. only.
 Sec. 1. That hereafter no national bank notes of less denomination than Sl0 shall be issued and as rapidly as such notes of denominations less than SlO shall be received into the treas- nry, otherwise than by redemption, they shall he carcc ed and an equal amount Of notes Of
 Ike character, but in denominations of BIO and mu.ti gles thereof, shall be issued in their places. All silver certificates now outstanding in denominations less than BIO shall when re- ceived into the treasury of the United States be retired and cancelled. and silver certificates not outstanding in denominations larger than BIO shall be issued in their stead.
 Sec. 5. That from and after the 1st day of July 1895, all duties on imports shall be paid in gold coin only, and all taxes, debts and de- mands, other than duties on imports, accruing or becoming due to the United States, shall be paid in gold and silver coin, treasury notes, afp art n of national banks.
 Sec. 0. That all laws or parts of laws incon- sistent with the provisions Of the preceding sections be and they are hereby repealed, and a sum sufficient to carry the provisions of this act into effect be and the same is hereby appro- priatea out of any money in the treasury not otherwise appropriated.