Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1899-12-23
MEASURE in Which National
Interest Is Conferred.
Gold Dollar Declared Unit Of Value
No Notes Hereafter Less
Than NalIOnSl Bank
Extension.

IA bill TO affirm the existing standar,
value, to maintain the parity In valu,
of all forms of money. to refund tn,
puglic deDt and for other purposes.
1T declares that the standard unit o
value shall be the gold dollar. nine
Cenths fine, containing 25.S grains o
gold; that all other money shall be Tt
aimed at parity with this standar
and all paper money redeemabie /.
gold. The principal features of the bi.
are given below:
fhe Secretary of the Treasury shall
maintain reserve fund of $3.50 900, 900
for redemption purposes only. If thu
secretary of tine Treasury Is unable to
restore ana maintain the gold reserve
und by the foregoing methods and thu
amount Of such gold coin in said funG
Shall fall below Sl00,000,000, then /,
shall be his duty to restore and main
ain the same by borrowing money OIL
.he credit of the United States and 70.
The deDt thus incurred to issue and sci.
coupon or registered bonds of tn.
United States in such form as he ma,
prescribe. In denominations of $50 o.
my multiple thereof, bearing interes
At the rate of not exceeding 3. per cen
Jer annum. payable quarterly, sucl
ponds TO BIO paya-.e at the pleasure O
ne United States after one year from
me date Of their issuance.
1t shall be the duty of the Secretar,
II the treasury as fast as sterling sii
ied dollars are coined under the pro
Iisions OF the acts Of July Ii, 1890, an,
June 80, 1893, from bullion purchase,
,nder the act of July IA, 1890, to retir
md cancel an equal amount of Treas
iry notes whenever received into tn,
treasury, either by exchange in ac
ordance wi,n the provisions of Thu
ct or In the ordinary course of bust
less, and upon the cancellation O
treasury notes silver certificates shat
'e issued against the silver dollars 8.
coined.
Inc Secretar.. of the Treasury L.
iereby authorized and directed to re
eve deposits OF gold coin with the
= treasurer or any assistant treasure.
I the United States in sums of no.
sss than $40, and to issue gold cerl,
Gates therefor in denominations G
.ot less than $40, and the coin SO dc
josited shall be re...ined in the Treas
,ry and held for the payment of sue,
.ertihcarss on demand, and used for n,
i.ler purpose. Such certificates sha
le receivable for customs, taxes and n,
public duties, and when SO receive
lay be reissued, and wnen held by an
ationai banking association NAV n
ounted as part of It's lawful reserve
rovided that whenever the gold coi,
ia In the reserve fund In the Trea,
Try Tor the redemp.-on of United
sates notes snaii laii below SlU,..,,.
w, the authority to Issue certificates
s nereln provided shall be suspended
M provided, further, that OF IN
mount OF such outstanding certin
ates, one-fourth at least shall he |,
nominations OF $50 or less.
The bill provides that hereafter n,
otes shall be ISSUED of less than sIL
he Secretary of the Treasury IL an
lorized to receive any bonds due n
'oi, 1907 or 1908 and issue thereto
onds payable a--er thirty years at tn,
'easure OF the Government, bearin, |
per cent per annum.
Another section provides that nm
ohai banks may issue notes In fu.
VI value OF bonds deposited in thu
nlted states Treasury, no notes II
Of less value than $40.
The hnal section provides "tba,
cry national banking associate,
, o,au oa ueposi. ponds OF The United
a'cs pea1ns interest ut the rate Of
= cent per annum to secure its cir
- not.s shaIi pay 70 the Treas.
e. ~ ~ .ae Unite states In the months
January an 1uiSa TAX OF one-fourtl
per cent eacn haif year upon tn,
." 49, aaouht OF snch or Its 'circulat
q. nUtes as are based upon the de
s -. " sa,d . per GEN. bonds, and sucl :
'I ,,s s "iaI, De IN lieu OF existing taxes
its circulating notes"
ann Iaeicai differences exist be
'o' .ne senate and the House eur. ,
~ Ieiorm Dill. The chief conflic; !,
- seclohs providing for The protec
: vi the goid reserve. The Senate
y,u'sases TINS reserve to 100000.
, Dut follows the Presidents recon.
!, ny making the reserve o :