The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1895-02-01
TIMELY ACTION.


ANN Introduced In thr House In line with
the rrcsidrnt'- Recommendation
WASHINGTON. Jan. % Chairman
Springer, Of the banking and currency
committee Of the house. has introduced
a bill TO carry into effect the recon-.
mcndations Of the presidents message
rs follows
he it enacted etc That IN order "a enable
the secretary u treasury 10 pressure and main.
tain sumcicut gold rcscr,u and To redeem
aud retire United States notes and treasury
notes issued under the oct of July u isgO cn.
titled, an act dirpctiuf the purchase " silver
bullion and the issue Of treasury notes thereon.
aud fpr other purposes be is
hereby authorized 10 issue and
sch at not les, than par In gold cN-
ccpt as provided IA section OF this act, L. :.
registered or coupon bonds In denominations
of twenty dollars aud aity dollars. aud null
tplcs of said sums respectively payable IA
fifty years in gold coin OF the united states
ot the present wright and Huoncs- and
hearing Interest 90 % rate not exceeding
pcr cent pcr annum payable quar-.
tcry Ia like coin and such bonds aud
the iutcgcst thereon SASH have like qualities.
privileges and exemptions as the bonds issued
Wv. ilNN Hlh ~ NNfNiuAlAi'il hW
act 10 authorize the fndiug uf the national
duht Such bonds uia be sold and delivered
N the Uuiicd State, OF elsewhere n, mal be
deemed most advantageous 10 the interest oi
the government
Soc THAT whenever any United states
legal tender nutcs or treasury notes shall be-
redeemed In gold they shall De cancelled aud
not reissucd, aud the secretary II the treasury
Is hereby authorized in his discretion. To re-
ceiyo United states legal tender notes aud
treasury notes issued under the aforesaid act
Of July H. ispo. In payment Tor any of the
bonds issued under the preceding section OF
this act and the notes 50 received shall be can.
celcd and not reissucd
Section 3-That hereafter national banking
asloelations 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 bclr-
iug interest nt the rate OF two per cont oulc
Sec That hereafter no national bank notes
of less denomination than ten dollars shall 10
issued and as rapidly Us such notes Of dcnomi-
nations loss than ten dollars shall be re-
ceivod into the treasury, otherwise than
for redemption and retirement. they shall
be cnnccllcd and au equal amount OF notes
OF like character. but ln denominations OF ten
dollars and multiplcs thereof shall be- issued
In their places. An silver certificates now
outstanding, in denominations less than ten
dollars shall, when received In the treasury OF
the United States, be retired and cancelled
and silver certificates In denominations less
than ten dollars be issued In their stead
Sec. S-That from and after the first day Of
July 1905. all duties on Imports shall be paid
In gold only and all taxes debts and demands,
other than duties ON Imports accrulnv or be-
coming due to the United States, shall be- paid
In gold and silver coin, treasury notes United
states notes, silver certificates or notes OF ma
tionnl banks