The McCook tribune., 1896-08-07
Hon. W. E. Andrews Coinage BIZ.

A Bill providing for the coinage of do
mestic silver, and for other purposes.
Be it enacted by the Senate and House
of Representatives of the United States
| of America in Congress assembled,
That from and after the passage of this
Act any holder of silver bullion which is
the proved product of the mines of the
United States of America and is suitable
for coinage according to the terms of
the coinage Act approved January eigh-
teeneth, eighteen hundred and thirty
seven, may, as hereinafter provided.
have the same coined in amounts of one
hundred dollars or more at any of the
mints of the United States, into standard
silver dollars which shall have the
weight, fneness, devices, and superscrip-
tions as provided by said Act of January
eighteenth, eighteen hundred and thirty
seven, and which shall be legal tender
at their nominal value in the payment
of all debts, public and private. except
as otherwise provided by section three
of this Act: Provided, however, That
nothing herein contained shall be coll
strued to impair the validity of contracts
made prior to the passage of this Act.
SEC. 2. That whenever the commercial
value of domestic silver bullion is less
than its coinage value, the holder of such
bullion shall deposit to the credit of the
United States seigniorage which shall
be equal in value to the difference be-
tween the coinage value and the COM
mercial value of the same when present
ed at the mint for coinage under the pro-
visions of section one of this Act, and
such seigniorage shall be designated in
the accounts ofthe Treasury Department
as the seigniorage fund, and shall be
coined into standard silver dollars for the
benefit of the United States whenever
its commercial and coinage values be-
come permanently one and the same.
SEC. 3. That duties on all imports from
Great Britain, France, Germany, and all
countries whose mints are closed to the
free and unlimited coinage of silver be,
and the same are hereby made payable
and collectible in gold only, and that
from and after the passage of this Act
there shall be levied, collected, and paid
upon all grades of uncoined silver inn
ported from any foreign country duty
payable in gold only and equal in amount
to the difference between its lowest COM
mercial value in any foreign market and
its coinage value at the mints of the
United States at the time of such impor-
tation: Provided, That such rates of duty
shall not apply to the manufactures or
or other specific grades of silver upon
which higher rates OF duty are or may
hereafter be levied by other laws.
SEC. a. That when the authorized rep
resentatives of the United States shall
have agreed with the authorized repre-
sentatives of other nations to the free
and unlimited coinage Of gold and silver
on an international basis at fixed ratio,
and said agreement shall have been Off
cially certified to and approved by the
Congress of the United States, then and
thereafter the mints of this county shall
be open to the coinage of gold and silver
upon the conditions embodied in such in
ternational agreement.
SEC. S. That any holder of silver dol
lars authorized by this Act may deposit
the same with the Treasurer of the
United States of America, in sums of
ten dollars or multiples thereof and re-
cieve silver certificates in denominations
of ten dollars or multiples thereof and
corresponding otherwise to silver certif-
Gates now issued. The silver dollars so
deposited shall be retained in the Treas
ury for the payment of said certificates
on demand. The certificates authorized
by this Act shall be legal tender in all
respects, just as the silver dollars for
which they are issued.
SEC. 6. That the Secretary of the
Treasury be, and he is hereby, author
lied and directed to prescribe and en-
force such rules and regulations as may
be necessary in the execution of the pro-
visions of this Act.
SEC. 7. That all acts and parts of acts
inconsistent with the provisions of this
| be, and the same are hereby repeated.