The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1895-01-19
1t is Designed to Cure All the
Ills Which the Body Polite
is Heir to.
COIN NOTES ARE TO BE ISSUED.
TO Replace Treasury Notes and
Gold and Silver Certificates,
Silver Coinage.

A Washington dispatch of Jan. Is
says: Vests financial bill provides
that all treasury notes and gold and
silver certificates shall be DESTROYED
and an equal amount of notes pay
able in standard gold and silver coin
be issued and payed instead of notes.
No coin notes of larger denomina-
ton than 81 900 or smaller than so
shall be issued, and denominations
higher than $50 shall not exceed
one-fourth of the total amount Of
coin notes outstanding at any time.
Coin notes are to be legal tender for
all debts. The second section re-
peals all laws which authorize the
owners of gold or silver bullion to
make deposits, receiving gold or sill
yer certificates, and the secretary of
the treasury is directed to receive no
more coin or bullion in the future.
Section B 3provides that gold certi-
hcates now outstanding are to be
paid in gold coin, and silver coin
certificates in standard silver coin. or
coin notes. If the gold in the treas
ury amounts to less than 500. 900
600 exclusive of that necessary to
redeem gold certificates, they are to
be redeemed in silver coin. If more
than S1O0,OO0,OOO, the secretary of
the treasury, in the exercise of his
discretion, may redeem in either gold
or silver. Section makes it un-
lawful for any national bank to issue
bank notes, and all acts authorizing
all such issues are repealed. 1t is
made the duty of the secretary,
within twelve months to sell United
States bonds deposited in the treas
ury by national banks to secure circ-
ulation or going out of business, and
after redeeming the coin notes here
by authorizing outstanding notes or
currency, as provided by the national
banks act, the surplus is to be also
paid in coin notes to banks owning
bonds in the amounts respectively
due them.
Section ) requires the secretary of
the treasury to have coined as fast as
possible the silver bullion held in the
treasury, purchased under the Sher-
man act of 1890, including gain or
seignorage, and this coin is to be
used in the payment of public ex
penditures and for the redemption of
coin notes authorized by this act.
Section 6 provides that when the
revenues of the government are not
sufficient to meet its current expens-
es, the secretary of the treasury shall
issue a sufficient amount of coin
notes to cover this deficiency, and all
laws authorizing the future issue of
interest bearing bonds of the United
States are repealed, except as other
wise provided. The section also pro-
vides that if the gold in the treasury
at the time the act shall take effect
does not amount to $lOO,OO0,O
exclusive of that held to redeem gold
certificates, the secretary is directed
to sell United States bonds at not
less than par, in gold coin, bearing
not to exceed B per cent interest, re-
deemable after five years, but no
greater amount of such bonds are to
be sold than may be necessary to
procure for the treasury the full
amount of s1OO,O0O,O00 in gold.
Section 7 provides that silver bull
lion brought to any mint of the
the United States for coinage shall
be received and coined into standard
dollars of 4l21 grains, but no de-
posts of silver bullion of less value
than 800 shall be received, nor shall
any bullion be received that is SO
base as to be unsuited for the opera
tions of the mint. The director of
the mint is to retain as seignorage,
and to convey into the treasury, the
difference between the New York
price and the coined price of the
bullion, and this is to be paid out by
the secretary of the treasury in the
current expenditures of the govern
ment.