The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-12-05
MATES FINANCE BILL.
.vrprs roR REruSDINs INTO ?
PER CENT. BONDS.
go s..vvs All Notes Under io
~. Circulation and Authorizes
..,,..sl Bank Circulation Up to
q. par value Of Bonds Deposited.

.urNGToN, Dec. l-The text OF the
Msrcs lin prepared by the Repunicaaa
e esus,cbers Of the senate finance committees
g IN tHaay !" af,irm the existing standard Q.
- maintain the parity In value -.
ss.vrs OF money, to refund the puoio
~ ard for other purposes;
u''s The standard.
!. .r.rted bv the senate and house
!, psss,.rsssn,,tatives OF the United states
g smerican in congress assembled.
.Tnat the. dollar cons asnn &, go,d nine
!nNvs,ss nns. shall, as established by secuon
! ~ "a fhe Revised Statutes OF the Inlteu
sssfss continue to be the stanualu W. -
y Asiue and all forms Of money issued OF
sns by the United v sta.ss ritn this stand
ts " ma United States notes and treasury
49, ~ ~iss,,ed under the act OF July "A. iesV'
w. presented to the treasury ior re-
sa,snt,ou shall be redeemed In gold com
4 such standard.
!" 80 Reserve Fund.
..yn.f /, shan be the duty Of the secre-
,.rv a the treasury, in order to secure the
ss 49, ana certain redemption OF United
gsvsss notes and treasury notes as herein
ssfnrs provided, to set apart In the treas,
pssss raacrye fund OF $50 900 in gold
80 which fund shall be used Tor sucn
49,, ssi;smpsion purposes only. and whenever
w .Isuss ~ from said fund 1t shall be the
fntv a. the secretary of the treasury TO,
~ sssM notes 20 redeemed TO restore and
wsintain sucn reserve fund in the manner
following, to-wft:
aFirst by exchanging the notes so re,
s,snd n the treasury; second, by accepting
dsrcsifs az gold coin at the treasury or at
sny subtrsasury in exchange for the Uni
~ efates notes so redeemed; third, by
prSss n Accordance with the provisions
81 section 800 Of the Revised Statutes OF
TIA United States
III the secretary OF the treasury is un-
abe 10 restore and maintain the gold re.
serye fund BY the foregoing methods, and
tha amount OF such gold coin in said fund
shsli faH below 800, 000, 900 then 1t shall be
M duty to restore and maintain the same
by borrowing money on the credit OF the
United States ana TOT tne aso. thus m
istered bonds Of the United States In such
f0rm as he may prescribe, in denomina-
tons Of 50. or any multiple thereof, bear
M interest At the rate of not exceeding 8
sucb bonds to rs payable at the pleasure
o. the United States after one year from
the date Of their issue. and TO be payable.
principal and interest. in gold coin OF the
present standard value, and to be exempt
from the payment Of all taxes and duties
Of the United States, as well AZ from taxa
ton In any form or by or under state, mu-
,nicipcl or local authority. The notes re-
deemed as herein provided shall only be
used for the purpose o. Restoring nm said Id fund
the amount OF gold coin and notes in such
reserve fund shall at no time exceed such
maximum amount.
ReAsmption Of Treasury Notes.
'srhat 1t shall be the duty cf the secre-
tRry of the treasury, as fast as sterling sill
yer dollars are coined under the provis-
ions Of the acts Of July IA, 1896, and June
30, 1898, from bullion purchased under the
oct Of July II 1880. to retire and cancel an
equal amount Of treasury notes, whenever
received into the treasury. either by ex-
change In accordance with the provisions
OF this act or 10 the ordinary course Of
treasury notes. silver certificates shall be
issued against the silver dollars SO coined.
Gold Certificates.
That the secretary Of the treasury is
hereby authorised and directed to receive
deposits Of gold coin with the treasurer
Or any assistant treasurer of the United
States In sums not less than $40, and to
issue gold certificates therefore in denom-
nations Of not less than $40. and the coin
90 deposited shall be retained In the treas
ury and held for the payment of such GER
tifcates on demand and used for no other
purpose. Such certificates shall be receiv-
anle Tor customs, taxes and all public dta--,
ties and when SO received may be re-
issued. and when held by any national
banking association, may be counted as a
part OF Its lawful reserve.
provided: That whenever the gold coin
neld In the reserve fund in the treasury
for the redemption Of United States notes
anc treasury notes shall fall below $780,
v0NU, the authority to issue certificates as
herein provided shall be suspended;
AND further provided: That OF the
amount OF such outstanding certificates
one-fourth at least shall be in denomiiia-
ton Of $50 or less.
And provided further: That the secre-
tary o. the treasury may in his discretion
Issue rs such certificates in denominations OF
siHwo. payable to order. And section 5,193
o. the Revised Statutes OF the United
states Is hereby repealed.
Denominations of Notes.
That from and after the passage Of this
acl no United States notes or treasury
solss snail Do issued or reissued of denom-
,nstions less than $40, and all such out
Gandins notes Of lower denomination
or redeemed, be Cancelled and notes Of de-
nominations Of so or upward shall be SUBJ
Miluted therefor, No silver certificates
snaii hereafter be issued of higher de-
nomination than $40, and all such out
s snn.ning certihcates Of a higher denom-
saeasury or redeemed be Cancelled and
notes OF denominations Of $40 or less shall
oe substituted therefor.
Refunding.
That tho secretary Of the treasury is
tnerepy authorized to receive at the
.leasury any standing bonds of the Uni