Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-01-11
VESTS SILVER BILL.
The Financial Measure Introduced In
the Senate
me WHITE METAL EEcOGSzED.
Provision, To- the Maintenance Of tho
Gold Reserve at the One iluulrld
Million Dollars Mark.

WAmuNG1oN, Jan. ll,-scnn,or
Vest has introduced his fninclai tilL
10 provides that all treasury notes anu
gold and silver certificates shall be
destroyed aud an equal amount Of
notes payable in standard golI ami
silver coin be- Issued and piid Instead
Of notes. No coin notes Of larger
denomination han 81 900 or smaller
than SO shall be Issued and tho de.
nominations higher than $50 shall not
tXceo4 ono fourth uf tho total amount
% coin notes outstanding Ut % time.
The coin notes are 10 be lcgai teudur
Tor all debts.
The second section repeats Oh laws
which authorize owners % geld or
silver bullion 10 make deposits, and
receiving gold or silver CsluUr.trs,uuu
the secretary Of tue treasury % directed
20 receive no more coin ur bullion be-
tho future.
Section 3 provilc8 that The gold Ger.
tiiiCatuH now Uutttnudlnu nl8 CO. be- paid
iu gold coin anu silver coin CrtuigatUr,
ia standard SILVER coin Or cola
uOtCs. II tho gold iu iAO tru,s.
ury amounts to losH than SiOI,.
| OOJiOOO exclusive Of that necessary
90 redeem gold curtihcatcs, they are 90
DO redeemed iu silver U,lr;Ii moro
than slUJ,OIJ,OJD the tugfettfy Of the
treasury Ia exercise Ut his discretion,
may redeem in either gold og ailvrr.
Section Z makes it unlawful tor any
| national bank 10 itsuH bank notes aud
all acts authorizing OH Fucu Issues arc
I frI called. ~ b. made tlu duty OF the
secretary within twelve months 60
BELL tue United States bonds deposited
/ iu the treasury bg tho national banks
/ 90 secure circulation ia uasr tho ul.
/ ii0ual banks retire tuuig circulation Ur
| x. uut ~ business aud after scluuMiIs
/ ihr cola notes hereby authorized, uut-
| standing notes or currency ag provided
! by The national bank net, thr surplus is
10 be also paid 90 C3lu notes to the
banks owning bonds Ia the amounts
| respectively duo them.
Section D requires tie secretary OF
| ihu treasury 90 nave CYlutI, aq iasI Us
| possible, the silver bullion held iu tho
treasury purchased under the Sherman
ACT Of 1880, including tho Fuiu ut
| Huigui1ugC, ana this CllY iH loo b.
used In payment uf public tAECuui.
iutta anu Tor tho redemption OF coin
notes authorized by this ret.
Section o provides thnt when the
revenues o. the government nro u1t
sufficient tu meet its current expense,
tho secretary Of tue treasury slRli Issue
a sufficient amount 0i ,cJin notes O.
cover this deficiency, ami all laws uu-
tuur.z.ug the future issue Ut interest.
bearing blndu VI the United slntos uIu
| repealed except a. otherwise provided.
| This section also provides that 30 the
| gOlI iu the trelsuTy at the time tho hul
/ shall take effect dOet not nmUuut 10
| thut held 10 redeem gold Ccrunualcs,
theHecfo'ary Us directed 10 sull Unite i
/ States bonus ut no. leas than par Of
| gold coin, not q exceed % per cent Co...
| iurJat, rUleomablr alter % yoatB, but uu
| creator amount OF such uJuuHArg 10 bH
| sold than may DO necessary 90 procure
| for tuu treasury tho uil amount OF,
| slOO,ulO,UlU Ia gold.
Section provides shat silver bullion
| brought 90 Huy mint VI tho United
| States tor coinage shall Up received auI
/ coined into standard dullars, 4l.l
| .Taiut, but no drIO slt NJ silver bullion
| O' lCsb value than llJD shall be- To-.
cciyed, nor shail auy bullion Le re-
uuiyed that IL ~ bare M 90 DO unsuileu
i0r the operations 81 the mint.
The director OF the mint u 10 retain
| ~ seignOriago anu 20 cover iuto the
! treasury tho difference between tAu
! New York price aui the coined price
Of the bullion, anu this 10 10 DO psiduut
/ by tho secretary II the treasury IN the
current expenditures VI the govern.
ment.