The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-01-03
TO IMPROVE
THE CURRENCY
WILLIAMS & H'ANULTY'S.
concluded from Page IL

est not exceeding per cent. per annum
In gold coin, on the amount with which
they shall scverally stand credited on
such books in the same manner and at
the same dates as if they We're the hold
Crs and owners of registered bonds of the
United States; and he shall also pay to
those so registered the principal sum or
iginally deposited in gold coin. at the
date of maturity of such inscribed loans.
Suitable arrangements shall be made at
each and every money order postoflice in
the United States for receiving such pay
ments into the treasury on like terms,
as well as for the transfer, on proper
identification, of any inscription on the
books in Washington, or of any part
thereof not less than fifty dollars $500.
No interest shall accrue or be paid on
inscriptions which shall have been re-
duced below fifty dollars $50. No charge
of any kind shall he made by any de-
partment or officer of the government for
any service in connection with the re-
Ceipt or transmission of the lawful
money, nor in the transfer of inscrip-
tions on the books at Washington.
ISSUE AND REDEMPTION.
IS. The division of issue and redemp-
tion shall on demand at Washington, and
at such sub-treasuries of the United
States as the secretary of the treasury
may from time to time designate
(a) Pay out gold coin for gold certifi-
Gates.
Cb) Pay out gold coin in redemption of
United States notes or treasury notes of
1890.
(c) Pay out silver dollars for silver GER
tificates of any denomination.
(d) Issue silver certificates of denOm-
nations of 81, 81 and s., in exchange for
silver dollars and for silver certificates
in denominations above 50.
(e) Pay out gold coin in exchange for
silver dollars.
(O Pay out silver dollars in exchange
for gold coin, United States notes or
treasury notes.
(g) Pay out United States notes or treas
ury notes, not subject to immediate cam
collation., in exchange for gold coin.
th) Pay out and redeem subsidiary and
minor coins as provided by existing laws.
D Pay out United States notes in ex-
change for currency certificates.
a. United States notes or treasury
notes once redeemed shall not be paid
out again. except for gold coin, unless
there shall be an accumulation of such
notes in the division of issue and re-
demption which cannot then be cancelled
under the provisions of the act, in which
case the secretary of the treasury shall
have authority, if i'm his Judgment that
course is necessary for the public well
fare, to invest the same or any portion
thereof in bonds of the United States for
the benefit of the redemption fund; such
bonds TO be held in the division of issue
and redemption, subject to sale at the
discretion of the secretary of the treas
ury for the benefit of the division of issue
and redemption, and not for any other
purpose.
IL. The secretary of the treasury shall
be authorized to sell from time to time
at his discretion, any silver bullion in the
division of issue and redemption; and the
proceeds in gold of such sales shall be
placed TO the account of the gold reserve
in the division of issue and redemption.
l6. The gold certificates and currency
certificates shall, whenever presented ana
Paid or received in the treasury, be re-
tired and not reissued.
DENOMINATION OF NOTES.
r.. No United States note or treasury
note Of 1890 of a denomination less than
so shall hereafter be issued: and silver
certificates shall hereafter be issued or
paid out only in denominations of 81, s.
ana So, against silver dollars held by oI
deposited in the treasury.
IS. The assistant treasurer in charge of
\ the division of issue ana redemption shall
k~un demand pay in gold coin all United
states notes and treasury notes presented
rNr payment, and as paid cancel the same
t,Is to the amount of $50 0OO. .OO0. After that
amount shall have been paid and cam
celIed, he shall then from time to time
cancel such further amounts Of notes 50
paid as shall equal, but not exceed, the in
creasa of national bank notes issued sub
sequeM to the taking effect OF the pro.
posed act.
10. If at the end OF five years after the
taking eNect of the proposed act any
United sAates notes or treasury notes