The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1896-01-11
THE SENATE
IS ALL RIGHT.
It's Finance Committee Reports
Substitute to the House
Bond Bill,
THE BOND MEN ARE BARRELLED.
Utah Takes Her Place, the 10Th
Star i'm the Firmamcnt
of States.

The senate finance committee has |
decided to report to the senate as a
substitute for the house bond bill /
the measure agreed upon by the sill
yer majority. The substitute pro-
vides for the free coinrge Of silver,
for the coinage of the scigniorage in
the treasury, and to redeem the
greenbacks and treasury notes in
either gold or silver. The bill was
reported in the senate Tuesday.
The silver substitute also provides
T, for the retirement of all notes Of less
denomination than $40.
The finance committee Immediate
ly began consideration Of the tariff
bill. 1t is said this bill will be re-
ported substantially as it came from
the house, except that an advance Of
Is per cent Of the present duty on
sugar will be provided for, and the
agricultural schedule will be in
creased to 20 or Is per cent, Of the
present law. 1t is expected the tar
if hill will be ordered reported,
though the absence of Senator VOL
colt may prevent such action unless
a pair in the committee can be ar
ranged for him.
Following is the full text Of the
substitute for the bond bill adopted
by the senate finance committee:
That from and after the passing 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 412II grains,
troy, OF standard silver, nine tenths
fine, as provided by the act of Jan.
Is, 1887, and upon the same terms
and subject to the limitations and
provisions of the law regulating
coinage and legal tender quality ol
the gold, and whenever the said
coins herein provided for shall be
received into the treasury, certifi
Gates may be issued thereon in the
manner now provided by law.
That the secretary Of the treasury
shall coin into standard silver dollars
as soon as practicable, according to
the provisions of this act, from the
silver bullion purchased under au
thority of the act of July IA, 1890
entitle |: can act directing the pur
chase of silver bullion and the issu
ance of treasury notes thereon. anc
for other purposes" that portion o
said silver bullion which represent
the seigniorage, or profit to the gov
ernment, to wit: The difference be
tween the cost of the silver purchas
ed, under said act, and its coinag q
value, and said silver dollars $
coined shall be used in payment 9
the current expenses of the govern
ment, and for the purpose of MAXIM
the said seigniorage Immediately a
vailable for use as money. The sec
retary of the treasury is authorize
and directed to issue silver certif
Gates against it as if it was alread
coined and in the treasury. That n
national bank note shall be hereafte
issued for a denomination less tha
- ten dollars and all notes of sue
banks now outstanding of denomin;
tons less than that sum shall be ;
rapidly as practicable, taken up, r.
= deemed and cancelled, and notes
ten dollars and larger denomination
shall be issued in their stead und
the direction of the controller Of Il
currency.
\ That the secretary of the treasuI
y shall redeem the United States not
commonly called greenbacks al
also the treasury notes issued und
the provisions of the act July
1896, when presented for redempti
in standard silver dollars or in 60
coin, using for the REDEMPTION of sa
notes either gold or silver coins,
both, not at the option of the hold
bnk ax n uciyo1y Of tbo nptiop of