The Daily Texarkanian., 1895-01-30
SPRINGER's BILL.
Introduces One Embodying the Presi-
dents Recommendations.

introduced a bill to effect the rec
concentrations of the Presidents
message. He has notified his com
mittee to meet tomorrow and con-
slider the bill. The bill is as fol-
lows:
An act to authorize the Secretary
of the Treasury to issue bonds to
maintain sufficient gold reserve
and to redeem and retire United
States notes and for other pur-
poses.
Be it enacted by the Senate and
House OF representatives of the I'm.
tied States of America in Congress
assembled, that in order to enable
the Secretary of the Treasury to
procure and maintain sufficient
gold reserve and to redeem and re-
tire United States notes and treas
uary notes issued under the act of
July IA, 1890, entitled "An act di-
recting the purchase of silver bull
lion and the issue of treasury notes
thereon and for other purposes,
He is hereby authorized to issue and
sell at not less than par in gold, ex-
cept as provided in section 2 of this
act, United States registered or
coupon bonds, in denominations of
twenty dollars and five dollars and
multiples of said sums respectively
payable in fifty years in gold coin of
the United States Of the present
weight and fineness, and bearing
interest at rate not exceeding 3
per cent per annum, payable quar-
terly in like coin; and such bonds
and the interest thereon shall have
like qualities, privileges and exemp-
tions as the bonds issued under the
act approved July Ia, 1870, entitled
"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 as most advantageous of
the interests of the government.
Section 2-That whenever any
United States legal tender notes
or treasury notes shall be redeemed
in gold they shall be cancelled and
not reissued, and the Secretary Of
the Treasury is hereby authorized,
in his discretion, to receive United
States legal tender notes issued un-
der the aforesaid act of July IA,
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,
Section 3-That hereafter nation
al banking associations may take
out circulating notes in the maner
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 bearing in
terest at the rate Of 2 per cent on.
ly.
Section 4--rhat hereafter no ma
tional bank note Of less denomina-
tion than $40 shall be issued, and as
rapidly as such notes Of denomina-
tions Of less than $40 shall be re.
ceived into the treasury, otherwise
than for redemption and retire
ment, they shall be cancelled and
an equal amount OF notes Of like
character, but in denominations Of
$40 and It's multiples, shall be issued
in their places All silver certiG-
Gates now outstanding, in denomi-
nations of less than $40, shall, when
received into the treasury Of the
United States, be retired and can'
celled, and silver certificates be Is.
sued In their stead,
Section g. That from and after
the first day Of July, 1896, all duties
on imports shall be paid in gold on
| ly, and all taxes, debts and demands
other than duties on imports, ac'
cruing or becoming due to The
United States, shall be paid In gold
and silver coin, treasury notes,
United States notes, or notes OF ma
tional banks,
Section G That all laws and part'
of laws inconsistent with the pro
visions Of the preceding sections be
and they are hereby repealed, ant
a sum sufficient to carry the proyls
ions of this into effect be, and The
same Is hereby, appropriated, ou'
of any money in the treasury moi
otherwise appropriated
--a--aesN-~= Ts--
Tennessee Contest Bill Passed,