The Camden chronicle. (Camden, Tenn.) 1890-current, 1895-02-22

receive at any United States mint,
from any citizen Of the United States,
silver bullion Of standard nneness, and
coin the same into silver dollars Of
4123 grains each. The seigniorage on
said bullion shall belong TO the United
States and shall be tho difference be.
tween the coinage value thereof and
the market price Of bullion in New
York on the day the deposit is made,
aud all expenditures FOR coinage done
under theproyisions Of this act shall be
paid out of said seigniorage. and thesec-
rotary of the treasury shall deliver TO
the depositors of such bullion stand
ard silver dollars equal in amount to
the price thereof as aforesaid; and
whenever said coins herein provided
for shall be received into the treasury
certificates may be issued thereon, in
the manner now provided by law"
Subsequently Mr.. Jones reported
the bill to the senate, the title having
been changed so as to make it read
"a bill for the unrestricted coinage Of
silver" 1t will lie seen that it fixes
the value of silver at the market price
in New York, instead of London, as
originally provided in the Jones bill,
and eliminates that clause which pro-
yides that certificates shall be of de-
nominations less than ten dollars.
Agreement to Take the Bonds.
Unless congress in ten days passes q
law authorizing the issue of gold bonds
bearing 3 per cent interest, running
thirty years, or othera zee relieves the
treasury in the replenishment of the
gold reserve, Secretary Carlisle will,
by direction of the president, sell A
per cent bonds to the amount Of
500, 400, 600 for gold. Arrangements
whereby this can be lone and $685.,
600, 600 in gold be received for the
bonds have been perfected, and the
contingent contract was signed Satur-
day. This official memorandum Of
the transaction was made public at
the treasury. It is as follows: "The
contract was made with August Bel
mont & Co., of New York, on behalf
Of Msssrs. N. M. Roth schild & Sons,
Of London, and J. P. Morgan & Co.,
of Now York, on behalf o. j. S. Nor
gan & Co., of London, and themselves,
and provides for the delivery to the
United States of 3,500,O ounces Of
standard gold coin of the Oni.ed States
to be paid for in United States 4 per
cent bonds.
"a large number of otter banks
and financial institutions axe inter-
ested in the transaction, but their
names are not mentiooed "a the con
tract itaeii, The department does not
know in what proportion the various
parties are to furnish the gold coin or
reive the bonds, as this is matter for
arrangement between themselves.
''By the terms of the contract the
parties are to bear all the expenses of
bringing gold from abroad and they
are, so far as it lies in their power, to
exert their financial influence and make
all legitimate efforts to protect the
treasury against Withdrawals of geld
pending the complete performance Of
the contract. No bonds are to be de-
livered except in payment for gold &C
tually delivered In view of the pos
sible failure of Legislation in congress,
negotiations have been pending for
some time at Washington and abroad
and the terms of this contract are the
best that could be procured with coin
bond. The contract was drawn up by
Attorney General Olney and secretary
Carlisle, and submitted to J. Lynde
Stetson, counsel for the bankers.