The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-11-29


Wv can caucus committee, which met
at Atlantic City last spring, was
to-day made public by the committee. Its
text follows:
A bill to define and fix the standard OF value,
TO maintain the parity OF all forms OF money
issued or coined by the United States and for
other purposes:
Be it enacted by the Senate and House OF
Representative of the United States OF Amer
lea in Congress assembled:
Section / That the STANDARD unit OF value
shall. as now. be the dollar. and shall consist
OF twenty-five and eight-tenths grains OF gold.
nine-tenths fine, or twenty-three and twenty
two one-hundredths grains OF pure gold being
the one-tenth part OF the eagle.
Section 2 That all interest-bearing oblga-
lions Of the United States for the payment OF
money. now existing or hereafter TO be entered
Issued under the law Of July Il, 1880, shall be
deemed and held TO be payable in the gold coin
o. this act; and all other obligations public and
private, tor the payment OF money shall be
performed in conformity with the standard es-
tabishee in said section. Nothing herein con
taineo shall be construed or held 10 affect the
present legal tender quality Of the silver dol
lars or OF subsidiary OF minor coins or OF the
paper currency OF the United States or the laws
making national bank notes receivable and
pay able for certain public debts and dues and
obligations between national banks.
Section g. That there be established in the
Treasury Department as part Of the Office OF
I
be designated and known as the division Of
issue and redemption. TO which shall be
signed under such regulations as the Secretary
OF the treasury may approve, all records and
accounts relating TO the Issue. redemption and
exchange. as hereinafter provided. Of the sew
sIal kinds OF United States money. There shall
De transferred from the general fund in the
treasury OF the United States and taken up
on the books Of said division a redemption
iund the amount OF gold coin and bullion held
against the outstanding gold certificates, the
amount Of United States notes held against out
standing currency certificates. the amount OF
silver dollars against outstanding silver certih-
Gates the amount Of silver dollars and silver
bullion held against outstanding treasury notes
Issued under the act Of July Il. 1880, and
amount OF gold coin and bullion 10 constitute a
reserve fund equal 10 Is per cent OF the amount,
both OF United States notes and treasury notes
Issued under the act Of July "a. 1890, outstaud-
ing The gold and silver coin and bullion trans
ferred from the general fund in the treasury
az herein provided, shall be increased or dimin-
ished. as the case may be. only In accordance
with the provisions OF this act, and in no other
way
Section i. That IL shall be the duty OF the
Secretary OF the Treasury 10 maintain the
gold reserve fund taken up on the books OF
the division OF issue and redemption herein
provided, and for this purpose he may. from
time 70 time. transfer TO such lund any moneys
in the treasury not otherwise appropriated
division of issue and redemption for other
funds which may be in the general fund OF
the treasury. ana in addition thereto is hereby
authorized to issue and sell. whenever in his
judgment IL is necessary 10 the maintenance
States bearing interest at rate not exceed
ing per cent per annum. payable in gold coin
at the end OF twenty years, but redeemable In
gold coin al the option OF the United States
after one year. But uo transfer shall at any
time be made from the general fund OF the
treasury 10 the division OF issue ana redemp-
ton which Will reduce the general fund below
fifty millions OF dollars. That all United States
notes and treasury notes issued under the act
OF July Il. 1880. presented for redemption shall
he redeemed In gold coin at the viii OF the
holder and all silver certificates presented
frv rafa Gfn11 he anne IN I'D
ance with the existing law. The Secretary
OF the Treasury is authorized and required 10
times the parity and equal value Of every
dollar issued or coined by the Government.
and Il at any time the Secretary OF the Treas
ury deems II necessary IN order 10 maintain
the parity and equal value OF all the money
of the United States he may at his discre-
ton, exchange gold coin Tor any other money
issued or coined by the United States. The
notes and certificates SO redeemed or eX-
changed shall be held in and constitute a part
from nor disbursed. except in exchange for an
equivalent amount OF the coin in which said
notes or certificates were redeemed
changed. or except as hereinbefore in this sec
ton provided Nothing in this act shall be
act approved July Il. 1890 which provides that
NO greater OF less amount OF such notes shall
be outstanding at any time than the cost OF
the silver bullion and the STANDARD silver dol
lars coined therefrom. then held In the Treas
ury. purchased by such notes.
Section 8 That the Secretary OF the Treasury
is hereby authorized 10 use at his discretion.
any silver bullion in the treasury OF the United
States purchased under the act Of July H. 1890
for coinage into such denominations OF sub
sdiary silver coin may be necessary TO
meet the public requirements FOR such coin:
and any gain or seigniorage arising from this
coinage shall be accounted FOR and paid into
the treasury. Whenever any silver bullion pur
chased under the act Of July Il. 1890, shall
be used In the coinage Of subsidiary silver
coin amount OF treasury notes issued under
said act equal 20 the cost OF the bullion CON
tanned in such coin shall be Cancelled and not
reissued.
Section s. That the Secretary OF the Treasury
IS hereby authorized and directed TO cause all
worn and uncurrent subsidiary silver coin Of
the United States now in the treasury and
herca fter received 10 be recoined: and 10 REIN
burse the Treasurer 81 the United States for
the difference between the nominal or face
value Of such coin and the amount the same
would produce in new coin from any moneys
in the treasury not otherwise appropriated.
So much OF the joint resolution approved July
o. 1876. relating 20 the issue Of silver coin
limits the aggregate amount OF subsidiary sill
yer coin and OF fractional currency outstand-