The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-07
COIN THE SEIGNIORAGE.
Substitute Reported for the House Bone
PHI

Substitute Reported for the House Bond
Bill
Washington. January 6.--The senate fin
ance committee has decided to report a
senate substitute for the house bond bill
the measure agreed upon by the silver ma
jority.
Following is the full text OF the substi.
tute:
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
fl2is grains troy. OF standard silver. nine
tenths fine, as provided by the act Of
January Is, 1887, and upon the same terma
and subject to the limitations and pro-
visions of law regulating the coinage and
legal tender quality Of gold, and whcneve,
the said coins herein provided for shall
be received into the treasury, certificates
may be Issued thereon In the manner now
provided by law.
Section ., That the secretary of the
treasury shall coin into standard silver
dollars as soon as practicable, according
TO the provisions of section of this act
from the silver bullion purchased under
authority of the act of July IA, 1890 en-
titled IAN act directing the purchase OF
silver bullion and the Issue OF treasury
notes thereon and for other rurposes,"
that portion OF the said silver bullion
winch represents inc Felknlprhee or pro-
fit to tho government. towlt: The DIFF
ference between the cost of the silver
purchased under said act and Its coinage
value and said silver dollars 70 coined
shall he used In payment Of the currcnt
expenses of the government and for the
purpose Of making thee said seigniorage
Immediately available for use ms money,
tho secretary of the treasury is hereby
authorized and directed to Issue silver
ificlfea n nDingt N n N already
coined and In the treasury.
Section 3. That no National bank note
shall be hereafter issued for a denomina-
ton less than $40 and all notes of <uch
banks now outstanding Of denominations
less than that sum shall be as rapidly as
practicable taken up. redeemed and can
celled and notes of so and larger denomi-
nations shall be issued In their stead I'M
der the direction of the comptroller OF the
currency.
Section 4. That the secretary OF the
treasury shall redeem the United States
notes commonly called greenbacks and
also tho treasury notes issued under the
act of July. 1873. when presented for re-
demption of said notes, either gold or SILL
yer 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 so redeemed shall
be reissued as provided by the act of
May 81. 1873,
The substitute was adopted without dis
cussion, the vote being $ to 5. Senator
Walcott was absent. but his vote was
counted for the bill
The yeas were: Senators Voorhees,. Har-
ris, Jones (Ark). Vest, White Walthall.
democrats Jones (Ncv), popullsts, and
Walcott. republican.
Nays: Senators Morrill,, Sherman, ALI
son. Aldrich and Plntt.
,aI tl,.llr trfill ~ n.
ness after the bond bill was disposed OF
to take up the tariff bill, hut the repub-
LEANS asked for further time In order 10
submit the tariff TO the republican CAUCUS