Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-01-07

FREE COINAGE BILL
has BEEN SETTLED on ny A VOTE
OF EIGHT TO FIVE.

Washington. Jan. 6. = The senate
france committee has decided to report
senate substitute for the house
bond bill, the measure agreed ipo7 by
the silver majority. Following is the
full text OF the substitute:
That from and, after the passage of
this act the mints of the United States
shall be open TO the coinage of silver
and there shall be coined dollars of the
weight of Al? 1-2 grains. troy, of stand
ard silver. nine-tentns line. as pro-
vided by the act of January Is, 1887,
and upon the same terms and subject
tn limitations and provisions OF law
regulating the coinage aad legal tender
quality OF gold, and whenever the said
coins herein provided for shall be re-
celved into the treasury certificates
may be Issued thereon in the manner
now provided by law.
Sec. 2. That the secretary of the
treasury shall coin into standard silver
dollars as soon as practicable, accord
Ing to the provisions OF Section ! OF
this act from the silver bullion pur-
chased under authority of act of July
IA, entitled, AN act directing the
purchase OF silver bullion and the issue
OF treasury notes thereon and for other
purposes" that portion OF the said sill
Yer bullion chich represents the seig-
niorage or the profit to the government.
to-wlt: The difference between the cost
of the silver purchased under said act
and its coinage value and said silver
dollars so coined shall be used In pay
ment OF the current expenses OF the
government: and for the purpose of
making the said seigniorage immedi-
ately available for use as money the
.sa.a -
thorized and directed TO issue silver
certificates against II as II II were al
ready coined and In the Nit aFlry.
Sec. 3. That no national bank note
shall be hereafter issued of denomi-
nation less than $40 and notes OF such
banks now outstanding OF denomina-
tions less than that sum shall be as
rapidly as practicable taken up. re-
deemed and cancelled and notes of ten
dollars and larger denominations shall
be Issued in their stead under the d.
reotion OF the comptroller of the cur
rency.
See. 4. That the secretary of the
treasury shall redeem the United
States notes commonly called green
backs and also the treasury notes is
sued under the provisions OF the act Of
July II, 1890. when presented for re-
demption in standard silver dollars or
in gold coin, using for redemptions Of
said notes either gold or silver coins, or
both. not at the option OF the holder
but exclusively at the option OF the
government. and said notes, commonly
called greenbacks. when no redeemed
shali be reissued as provided by the act
OF May n. 1873.
The substitute was adopted without
discussion, the vote being S to r. Sem
ator Walcott was absent. but his vote
was counted for the hill.
The yeas were: VOORHEES,, Harris,
Jones (Ark). Vest. White, Walthall
Dems): Jones (Nev., POM, and Wal
colt Rep). Nays; Morrill,, sherman.
Allison. Aldrich and Piatt.
The Democrats indicated their will
ingness after the bond bill was disposed
of to take up the tariff bill but the Re-
publicans asked for further time In
order to submit the tariff to the Re-
publican caucus.