San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-08-02
THE LAW OF 1878.
A Return to Bimetallism-Silver Dol.
lars Legal Tender to Any
Amount


Amount.
1S77-7S. Chapter Xxx. An act to au-
thorize the coinage of the standard
silver dollar, and to restore its legal
tender character. r.
Be it enacted, That there shall be
| coined at the several minis of the
United States, silver dollars of the
weight of 412h grains troy of stand
ard silver, as provided in the act of
January 49, 1887, on which shall be the
devices and superscriptions provided
by said act; which coins, together
with all silver dollars heretofore COIN
ed by the United States, of like weight
and fineness, shall be legal tender,
at their nominal value, for all debts
and dues, public and private, except
where otherwise stipulated in the con-
tract. And the secretary of the
treasury is authorized and directed to
purchase from time to time silver bull
lion, at the market price thereof, not
less than $2,000,000 worth per month,
nor more than S4,0O0,O0O worth per
month, and cause the same to be coin
ed monthly, as fast as so purchased
into such dollars; and a sum sufficient
to carry out the foregoing provision
of this act is hereby appropriated out
of any money in the treasury not
otherwise appropriated. And any
gain or seigniorage arising from this
coinage shall be accounted for and
paid into the treasury as provided un-
der existing laws relative to the sub
sidiary coinage; provided, that the
amount of money at any one time in
vested in such silver bullion, exclu-
sive of such resulting coin, shall not
exceed 100000 And, provided fur
Their, that nothing in this act shall be
construed to authorize the payment
in silver of certificates of deposit issu-
ed under the provisions of section 254
of the Revised Statutes.
Sec 2. That Immediately after the
passage Of this act the president shall
invite the governments of the coun-
tries composing Of the Latin Union, so
called. and of such other European
nations as he may deem advisable, to
join the United States in conference
to adopt. common ratio between
gold and silver, for the purpose of es-
tablishing, internationally, the use of
bimetallic money, and securing fxity
of relative value between those met
ais; such conference to be held at
such place, in Europe or in the United
States, at such time within six months
as may be mutually agreed upon by
the executives of the governments
joining in the same. whenever the
governments so invited, or any three
of them, shall have signified their
willingness to unite in the same.
The president shall, by and with the
advice and consent of the senate, APP
point three commissioners, who shall
attend such conference on behalf of
the United States and shall report the
doings thereof to the president, who
shall transmit the same to congress.
Said commissioners shall each re-
ceive the sum of $500 and their rea-
sonable expenses, to be approved by
the secretary of state; and the
amount necessary to pay such COM
pensation and expenses is hereby
appropriated out of any money in the
treasury not otherwise appropriated.
Sec. 8. That any holder of the coin
authorized by this act may deposit
the same with the treasurer. or any
assistant treasurer of the United
States, in sums of not less than 80
and receive therefor certificates Of not
less than $40 each, corresponding to
the denominations of the United
States notes. The coin deposited for
or representing the certificates shall
be retained in the treM ry for the
payment OF the sam IA dsraand,
cs,,o1. .a~ff fft.o 4 sc a1o ~ BIO