The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-05-12
COL, sKINNRR's COTTON BILL.

Regulate the Expectation, and TO F'To-
tect the Production and Manufacturing
of Cotton Within the United States.
Be it enacted by the Senate Gnd
House Of Representatives Of the United
States of America an Congress as
semBIed, That after thirty days from
the passage of this Act 70 raw cotton
in n quantity, Of any grade or quail
ity, shall be exported from any OF the
ports OF the United States, except by
the permiss i0n and under the direc
ton OF the Secretary OF the Treasury.
SEC 2 That the Secretary Of the
Treasury, under rules and regulations
prescribed by the board hereinafter
created, shall purchase and export
raw cotton for sale upon the United
States Treasury account.
SEC 3. That the commissioner OF
Agriculture Of each Of the cotton
growing States, together with the Sec
rotary Of Agriculture and Secretary
of the Treasury Of the United States,
shall constitute, AID are hereby ere
eted, a board to direct the purchase
and sale Of the Southern cotton crop,
with ali incident and necessary pow
ers to attain practical results; this
board, within their discretion, shall.
meet in Washington not earlier than
the first day of February, nor later
than the first day of august Of each
ard every year aud name the price and
formulate the plans and regulations
under which ne Secretary Of the
Treasury shall purchase, care for,
store. cell, and export the Southern
States cotton crop for Une ensuing
fall.
SEC. 4. That the Secretary Of the
Treasury, for such raw cotton accord
ing to grade, under the rules and reg
ulations fixed by the beard created lC
section two Of this Act, sc th= price
named, delivered at such ports or
points as shall be designated. shall pal
for the same in all cases with Treasury
/, notes in denominations Of one dollar,
two dollars, and fge dollars, ten dol
lars, and one hundred doilare, redeem
able on their face. either IN gold or
sixteen to zone, or Government two silve
per cent. bonds, payable IN series from
one hundred dollars to one Thousand
dollars, within twenty five years, at
the optionof the Secretary Of the Treas
ury, these bonds 30 be en- their face
intereonvertible at the option Of the
holder in this same class Of Treasury
notes, with interest added, and t-ese
bonds extended the same banking priv
ileges as existing bonds have now Of
may hereafter have.
SEC 5. That the Secretary OF thl
Treasury snail sell 30 American manu-
~facturars, either from the interior OF
from ports, Sc cost 70 G,verumenl
plus expense of carriage, insurance,
and storage, and shall accent as pay
ment from them gold or silver, sixteen
to n TIE above described Treasury
notes, CO any national Uaited States
currency or the above described bonds,
with interest added, st the option Of
the purchaser. Nothing hoEeiu shall
operate to prevent the American man
~ufacturers from purchasing directly or
indirectly from the planter.
SEC. 6 That the Secretary Of the
Treasury shall have the power, aud IS
hereby authorized, to negotiate and
sell for export At not less than thirty
three and one third per centum K
advance O; est t. Government.
From bimo.aljc countries, to the
extent Of their manufacturing cap2c-
ity, he nca~ accept payment therefor
IN the same classes Of money, currency,
AMI bonds as ne IL authorized to &C
cept from American manufacturers
From single standard GOLD countries
he shall exact payment Il gold until
there shall O5 en- International agree
ment for the free coinage OF silver ct
the ratio Of sixteen TO one. Such en-
international agreement shall operate
as a reneaj Of this act.
SEC z. That the Secretary of the
Treasury Is hereby fully an -hozi4ad.
under the rules ara regulations q the
Treasury Department governing the
preparation and i.sue Of Treasury
notes and bonds, 10 have prepared,
issue, and pay cut, and redeem the
Treasury notes and bonds n accor
dance with aud TO carry laco efsc5 ell
the provisions Of this Act.
SEC. s That oil provi:l3rs Of lzv.
whether Of statute or treaty, uow IL
force In any"lse Inconsistent with or