The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-01-29
BOND AND GOLD BILL.
Text q tho Presidential Meas
uro Before tho House.
iaapoRrs PAvAsLE N GOLD.
osseabesas - Necessary Nssss - -
CesseIlsA. - ven = saAk MOSS
onaIlsr TAan Gle.

:
committee OF the house. has introduced
. bill to carry into effect the recon-
mendations q the president's message.
The bill y a. follows: An act to
authorize the SECRETARY Of the treasury
to issue bonds and maintain sum-
cfent gold reserve. and to redeem and
retire Unfted States notes, and tor
other purposes.
BE It enacted. BY the senate and
house Of representatives Of the United
States Of America. IA congress as
sesnblcd. thar In order TO enagle the
secretary Of the treasury TO procure
and maintain q sufficient gold reserve
and to redeem ana retire linked States
legal tender notes and treasury notes.
issued under act of July II. 1880. ENID
tied An act directing the purchase
OF silver bullion and the issue Of treas
ury notes thereon. and for other pur-
poses:' he Is hereby authorized to
issue and sell at not less than par In
gold codn. except as provided IN section
2 OF this act, United States registered
or coupon Bonds. In denominations OF
SO and so. and multiples OF said sums
respectively, payable fifty years after.
In gold coin OF the United States. Of
the present weight and nnenesA and
bearing interest at rate not exceed
ing ; per cent per annum. payable
quarterly In like coin: and such bonds
and the interest thereon shall have
like qualities. privileges and exemp-
tons as the bonds issued under the act
approved July II. 1870. entitled, An
act to authorize the refundins Of the
national debt Such bonds may be sold
and delivered In the United States, or
elsewhere, as may be deemed most adj
vantageous to the interests OF the gov
eminent
Section z That whenever any other
legal tender notes or treasury notes shall
be redeemed in gold. they shall be cam
celea and not re-issued, and the secre-
tary Of the treasury is hereby authorized
In his discretion to receive United States
legal tender notes and treasury notes is
sued under the aforesaid act OF July II.
1880. in payment OF any Of the bonds Is
sued under the preceding section OF this
act, but notes 40 received shall be cam
celed and not re-issued.
Section s. That hereafter national bank
ing associations may take out circulating
notes ia the manner provided by law to
bonds deposited to secure the same But
this provision shall not apply to any
bonds now outstanding. bearing interest
at the rate OF 2 per cent only.
Section 4 That hereafter no national
bank notes OF q less Denomination than
$40 shall be issued. and as rapidly as such
notes OF denominations Of less than so
shall be received into the treasury. 9TH
erwase than for redemption and retire
ment, they shah be Cancelled. ard an
equal amount OF notes OF like character.
but In che denominations OF $40 and null
tiphes thereof. shall be issued >tn their
places. All silver certificates now out
standing In generalization larger than so
SHAH. when received into the treasury of
the United States, be retired and cam
csled. and silver certificates In denomi-
nations Of less than $40 shall be issued in
their stead.
Section 5. That from and after the LIST
day Of July. 1895. all duties on imports
shall be paid In gold coin only, and all
taxes. debts and demands, other than dal-
ties on imports, accru.ng or becoming due
to the United States, shall be paid in gold
and silver coin. treasury notes, United
States notes, silver certificates or notes
Of national banks.
Section 6. That All laws and parts OF
laws inconsistent with the provisions Of
the preceding sections be and they are
hereby repealed, and a sum sufficient to
carsy the provisions OF this act into effect
be and the same Is hereby appropriated
out OF any money in the treasury and not
otherwise appropriated"