The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-11-29
/ SINGLE GOLD STANDARD
~uoyIsf0As or THE PROPOSED
FINANCIAL HILL

cid Dollar the Unit Of yaiae, Dfvis-
ION of Issue and Redemption Pro-
ylded, National Bank Laws
Changed, and other Features.
WASHINGTON, Nov. E.-Tne financial
saa prepared by ths Republican caucus
rrnrntttee. which met g. Atlantic City
hss spring. sas to-day made public D the
e.nnIitee. Its text follows;
"a sgsI 70 define and fix the standard Ok
value % maintain tne psrisy % ais teFrns
~ m6aeg issued or coined oy the United
. States. and for ether purposes
siagie Cold Standard.
sFe II enacted. By the senate and house
Arneriea. In congress assembled:
aSeetion ]. That the standard
pnit " value snail. as now. be
.na dollar and stall consist OF
.rentg-f5se and elgnt-tentha grains q god.
ulns-fentbs 1ne. or twenty three ana TWEEN
,v-tsfo-one aundresths gfatnT Of pure gold,
being fAe ons-tensh part CT TIE eagle
All Obligations ?a,abIe In Gold.
.eec . That all Understanding obiiga-
ssols az the United States for payment OF
rsgreY now existing or hereafter 10 be en-
iere5 into. and Al! United States notes
and treasury notes Issued under the law
a July It, ls.sl, shall be deemed ana ned
a. BE- payable In the gold coin OK the L nj
tsa states as defined In section or this
Act: and all other obligations. public and
private. for sns payment OF money, sinai
| be performed IN conformity WIN me
gsndard established in said section. Moth
| ,ng herein contained shall be construed or
he'll to affect the present legal tender qaal-
NJ o. the silver dollar. or OF subsidiary or
minor czsins or OF the paper currency OF
| he United States. CT the laws making ma
s.onal hank notes receivable and payable
| far certain public debts and dues and ohii-
cations between national banks.
Division of I..ne and Redemption.
SEE 2. Tha. there be established in the
treasury department. az a part OF the OF
tce Of treasurer Of the United States,
division 70 bs designated and known as
the division of Issue and redemption. 10
whsen shall be assigned. under such regu-
rAy approve, all records and accounts re-
hssng 10 the Issue, redemption and ex-
Change. as hereinafter provided. OF the
several kinds Of United States money.
There shall be transferred from the gen
sral fund in tae treasury OF the United
States. and taken up In the books of said
division as redemption fund, the amount
az gold coin and bullion held against out
Standing Eoi5 certificates. tho amount OF
United Statas notes held against outstand-
ing currency certificates tha amount OF
asser dollars against outstanding silver
certificates the amount In silver dollars
sna silver bullion held against outstanding
treasury notes under The acc of July IA
l@'. and an amount Of geld coin and bull
lon 10 constitute q per cent. Of the amount
both OF United States notes and treasury
aotes isslsi under the act Of July H. 1870.
outstanding.
THE gold and silver coin and bullion
transferred from the general fund In the
treasury as herein provided shall be In
creased Or diminished as the case may be
IN accordance with the provision OF this
act. and In no other way.
Gold Reserve Ia Re Maintained.
"sec e. That 1t shall be the duty &c the
secretary OF the treasury to maintain the
guild reserve fund taken up on the books OF
she division of issue and redemption as
herein provided, and for this purpose he
r1Ay from time 10 time transfer 10 such
fund any moneys in the treasury not other
wise appropriated. or may exchange any
Of ths funds In the division OF izsiie aud re-
GsEption fer other funds which may be
n the general fund OF the treasury. and in
addition thereto II hereby authorized to
fssue and sell. whenever In his Judgment
+ necessary 10 the maintenance az said
reserve fund. bonds ~ the United states
Barring interest at 4 rate not exceeding !
peT cent. per annufn, pay able In gold coin
ai the end OF twenty years. bat redeemabie
10 gold coin at the option OF the United
states after one year Bat no transfer
shalt at any time be made from the general
faHd Of the treasury 10 the division O! ia
saia Gnad redemption which VIII reduce the
general fund below tifty millions Of dollars
That all United States notes and treasury
notes Issued under The act af July II. issl.
Presented for redemption. shall be redeem
"a ia gccardanca with existinz law, The
secretary of t6. treasury II authorized and
reQsired 20 ass said reserve fund sn main
islning at aIl times the parity and equal
value Of every dollar issued or eosned by
The government. and II at any time the
secretary of the treasury deems Il neces-
Karg IN order to maintain the parity and
p4ua. value % al the money of the Lnlted
ii tzess+ Hon a. ssaErs.
spi3 Utfn Tot any other money lssaied or
eotned ~ the United States The uotes or
esf3steatns So rsslet med or exchanged
shSls be- held In and constitute a mart of
shffefFun noY diabufsai except In exchange
t0F an equivalent amount Of the CoiY in
which said notes "a certificates were re-
seFfnst of exchanged except a s h.f.in-
Before I'm this section provided Nothing in
this shall 5e construed as repeating that
sfNtfetuH az the aCF approx sal Jnly IA fSsl
watch prov ides that No greater Or less
AMOUNT ~ such notea ehait Ne outstanding
a any time than tho cast of the silver
baHon and the standard silver dollars
eHihcd theFeffom. then held in the treasury
purchased by such notes
silver uaition Ia Re Coined.
See 5. That the secretary II The treas
Rfs Is hereby authorized so as. AZ his dis
rssiion any silver Aliilion IN the treasury Of
tea United States purchased under ths act
o. juiN "a. lMs'. fer coinage into such de-
nominations of subsidiary silver caip as
may tss necessary 10 meet the public re.
eNfewe0is for such coin ana any gain or
stiS"osaRe arising from the coinage shall
d accounted for ana paid into shts treas
afF. - h@nf GER any silver bullion yuT~
Sassfsf u@faaT tNe srt Gf July ~ lAs4 ~ha II
e usc3 81 tho ca}uaSce ~ subsidiary silver
e4'h. on amount 81 treasury notes issued
Nae .Rtd AGA equal % the cost st the
esat5n contained l5 sa3ra coin shah Se cam
sfse8 Nio nof fFtssBfA