The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1899-12-01
The Measure Prepared by the Re-
publican Caucus Committee
Which Net Last Spring.
THE DOLLAR THE STANDARD UT.
1t Shall Consist of Twenty-Five and
Eight-Tenths Grains of Gold,
Nine Grains Fine.
The Present Legal Tender Quality of the
Silver Dollar and of the Subsidiary
Coin Shall BE Maintained;
Also Paper Currency.

~ ~ bAN CduCuS
committee, which met at Atlantic city
last spring, was Tuesday made public
by the committee. 1t is in part as fol-
lows:
Be it enacted by the senate, ETC.,
That the standard unit of value shall,
as now, be the dollar, and shall con-
sist of twenty-five and eight-tenths
grains of gold, nine tenths fine, or
twenty-three and twenty-five one hun
dredths grains of pure gold, being the
one-tenth part of the eagle.
All Understanding obligations of
the United States for the payment of
money now existing or hereafter to be
entered into and all United States
notes and treasury notes issued under
the law of July IA, 1890. shall be deem
ed and held to be payable in the gold
coin of the United States as defined in
section one of this act; and all other
obligations, public and private, for
the payment of money shall be per-
formed in conformity with the stand
ard established in said section. Moth
ing herein contained shall be constru-
ed or held to effect the present legal
tender quality of the silver dollar. or
of the subsidiary of minor coins, or of
the paper currency of the United
States, or the laws making national
banks receivable and payable for GER
tain public debts and dues and obliga-
Il
There shall be established in the
treasury department as a part of the
Office of the treasurer of the United
States, a division to be known and
designated as the division of issue and
redemption, to which shall be assigned,
under such regulations as the secre-
tary of the treasury may approve, all
records and accounts relating to the
issue, redemption and exchange as
hereinafter provided, of the several
kinds of United States money.
There shall be transferred from
the general fund in the
Treasury of the United States and
Vixen up on the books of said division
s redemption fund, the amount of
gold coin and bullion held against out
standing gold certificates, the amount
sof United states notes held against
. outstanding currency certificates, the
outstanding silver certificates, the
amount in silver dollars and silver bull
lion held against outstanding treasury
notes issued under the Act of
July IA, 1890; an amount
of gold coin and bullion to constitute
a reserve fund equal to IS per cent of
the amount both of United States notes
and treasury notes issued under the
act of July IA. 1890, outstanding. The
gold and silver coins and bullion trans
ferred 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 provisions of
this act and in no other way.
!, It shall be the duty of the secretary
Of the treasury to maintain the gold
reserve fund taken up on the books OF
The division of issue and redemption,
Vas herein provided, and for this pur
nose he may from time to time transfer
Ito such fund any moneys in the treas
bury not otherwise appropriated, or
May exchange any of the funds
s. the division of issue and redemp-
kon for other funds which may
in the general fund of the treasury,
~ l. = l. L.
authorized to issue and sell whenever
la his iudgment it is necessary to
The maintenance of said reserve fund.
bonds of the United States bearing
per cent per annum, payable in gold
coin at the end of 20 years but re-
,deemable in gold coin at the option
the United States after one year. But
no transfer shall at any time be made
from the general fund of the treasury
ito the division of issue and redemption
which will reduce the general fund be-
! low $50, OO0, 300 That all United States
notes and treasury notes issued under
the act of July IA, 1890. presented for
redemption, shall be redeemed in gold
tcoin at the will of the holder and
Nall silver certificates presented
fdr redemption shall be redeemed in
4seeordance with existing law. The
cretary of the treasury is authorized
I'd required to use said reserve fund
maintaining at all times the parity
I'D equal value of every dollar issued
coined by the government; also, if
any time the secretary of the treas
y deems it necessary in order to
hiDta the parity and equal value of
the money of the United States he
" at his discretion, exchange gold
"a for any other money issued or
ped by the United States
EW YORK. Nov. 29.-The date Of