Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-11-29

| The republican caucus committee of the
House has made public the provisions of
the currency bill which was drawn up at
the committee conferences during the re-
cess of Congress.
The full text of the measure is as fol-
lows:
All Obligations Payable in Gold.
"A bill to define and fix the standard of
value; to maintain the parity of all forms
of money issued coined by the United
States, and for other purposes.
| BE it enacted by the Senate and House
! of Representatives of the United States in
Congress assembled, that the standard
unit Of value SHAH, as now, be the dollar.
and shall consist of 2J.S grains of gold .
| hne, or '22 grains OF pure gold, beng the
! one-tenth part of the eagle.
| Sec. 2. That all Understanding obliga-
! tons 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, 1880 shall be deemed and held TO
| be payable in the gold coin OF the United
| states, as defined in section l of this act;
| and all other obligations, public and pri
| Vate, Tor the payment of money shall be
| performed in conformity with the standard
| established in said section. Nothing herein
| contained shall be construed or held to al
feet the present legal tender quality of the
SILVER dollar, or of the subsidiary or minor
coins, or of the paper currency OF the
United States, or the laws making national
bank notes receivable and payable for GER
| tain public debts ana dues and obligations
between national banks.
Issue and Redemption
Sec. 3. That there be established in the
| Treasury Department, as a part of the
Office of the treasurer of the United States
d DIVISION To be designated and known as
| the division Of issue and redemption, to
| which shall be assigned, under such regu-
| Iatlons as the Secretary OF The Treasury
|
| lating to the issue, redemption, and eX-
| change, as hereinafter provided, of the
| several kinds OF United States money.
| mere snail be transferred from the general
| tuna IN the treasury OF the United States
| and taken up on the books of said division
| as redemption fund.- the amount OF gold
| com and bullion held against outstanding
| goid certificates, the amount of United
| states notes held against outstanding Cur
| Tehcy certiflcates, the amount of silver dol
| lars held against outstanding silver certifi-
| Gates, the amount in silver dollars and sill
! Yer bullion held against outstanding treas
ufS notes issued under the act of July IA
| 1850 and an amount of gold coin and bul-
! non TO constitute reserve fund equal to %
per cent OF the amount both of United States
/ notes ana treasury notes issued under the
| act OF July If, 1880. outstanding The soId
| ana silver coins and bullion transferred
| from the general fund in the treasury as
| htfeih pfoNlded shall be increased or dimin-
,nmfu as tne case may be in accordance
! WIN the provisions of this act and in no
! other way. " nv
! Gold Reserve Fund
| Section 4. That 1t shall be the duty Of
| Inc Secretary of the Treasury to maintain
| the god reserve fund taken I'D on the
| DOCKS OF the division of issue and redemp-
| uon as herein provided, and for this pur-
| pose he may from time to time transfer
! 70 Such fund any moneys in the treasury
IioI othefWlSe appropriated, or may eX-
| cHahse any of the funds in the division of
| issue ana redemption for other funds which
| may be IN the general fund of the treas
| uFy, ana, IN addition thereto, he is author
Ized TO issue and sell, whenever in his iudg-
nheht IT Is necessary to the maintenance of
| the said reserve fund bonds of the United
| states hearing interest at a rate not ex-
ceedlng three per Centum per annum nava
| PIE IN gold coin at the end of twenty years
| put redeemable In gold coin, at the option
VI the Chlted states, after one year. But
| no transfer snail at any time be made from
| the general fund of the treasury to the
| division of issue and redemption which Will
| reduce the general fund below sJOOo0ooO
i'Ihat all United States notes and treasury
| notes issued under the act of July IA 1890
| presented for redemption shall be redeem
| ed in gold coin, at the will of the holder
| ana all silver certificates presented for re.
| dempuOn shall be redeemed In accordance
| with existing law. The Secretary of the
| Treasury is authorized and required to use
said reserve fund in maintaining at all
| tunes the parity and equal value of every
| dollar issued or coined by the government:
and II at any time the Secretary of the
Treasury deems 1t necessary, in order to
| maintain the parity and equal value of all
| the money of the United States he NAV at
| his discretion exchange gold coin for any
| other money issued or coined by the United
| States. The notes and certificates so re-
deemed or exchanged shall be held in and
/ constitute a part of said fund and shall
| not be Withdrawn therefrom or disbursed
| except in exchange for equivalent
| amount Of the coin in which said notes or
| certificates were redeemed or exchanged
! except herc.nbefore in this section pro-
! Vided. Nothing in this act shall be con-
! strued as repeating that provision Of the
| act approved July ii, 1890, which provides
| that No greater or less amount of such
| notes shall be outstanding at any time
| than the cost Of the silver bullion and the
standard silver dollars coined therefrom
| then held in the treasury purchased by such
notes.
| Coinage OF silver Bullion
| Sec. s. That the Secretary of the Treas
| ury is hereby authorized to use, at his dis.
! cretion, any silver bullion in the Treasury
| of the United States purchased under the
| act Of JuIy>1f, $50, for coinage into such
| denominations of subsidiary silver coin as
may be necessary to meet the public re
Quircments for such coin; and any gain or
| seignorage arising from this coinage shall
| be accounted for and paid into the treas
| TRY. Whenever any SILVER bullion pur-
chased under the act of July IL 1890 shall
| be used in the coinage Of subsidiary silver
| Under said act equal to the cost of the bull
| lion contained in such coin shall be can
celed and not relSSued.
| Section Is. 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 hereafter received, to be re-
coined; and to reimburs, the treasurer Of
| the United States for the difference between
| the nominal face value Of such coin and
| the amount the same will produce in new
| coin from any moneys in the treasury not
| otherwise appropriated So much of the
| joint resolution approved July 30, 1876, re-
| lating to the issue of silver coin as limits
| the aggregate amount of subsidiary silver
coin and of fractional currency outstand-
ing at any time to so, 900 be, and the
| same is hereby, repealed.
Section l. That the United States notes
| or treasury notes issued under the act of
July u, 1890, hereafter issued or reissued,
| shall be of such denominations, not less
| than one dollar, as the Secretary of the
Treasury may prescribe Silver certificates
shall hereafter be Issued or maid ont only