The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-12-08
THE NATIONAL FINANCES.
Bill Of the Republican Caucus Com
mittee Which Met at Atlantic
City Last Spring.
70 Be SUBMITTED TO THE CONGRESS-.


n BiIl to Define and Fi~ the standard
ofNaIue and to Maintain the Par
a, OF All Forms Of Money Issued
or Coined ny the United states
Government.
Washington, Nov. 29.-The financial
bill prepared by the republican caucus
committee. which met at Atlantic City
Inst spring, was yesterday made pub
&c by the committee. Its text follows:
BILL
II, 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
b. it enacted by the Senate and House OF
Representatives OF the United states OF
America, in Congress assembled.
That the standard unit OF value shall, as
NOW. be the dollar. and shall consist Of
twenty-five and eight-tenths grains or
eoid. nine-tenihs fine, or twenty -thrce
and twenty-two-one hundredths grains OF
eagle
Must he Paid In Gold.
Sec 2. That all interest-bearlns obN-
cations Of the United States for nae pay
Tnent OF money. now existing. or hcleAf-
TER TO be entered into. ana All lnted
states notes and treasury notes issued un-
der the law OF July IL. 1890 shall be
deemed and held 10 be payable IN the gold
coin Of the United States. as defined in
gection one Of this act, and ~ other OBJ
legations public and private, FOR the pay
rnsent OF money shall be performed in col-
f,rmity with the standard established in
said section. Nothing herein contained
ahali be construed or held 20 affect the
I,resent legal tender quality Of the silver
dollar. or of the subsidiary. or minor
coins or of the paper currency or the
United States. or the laws making na r
tlonai bank notes receivable and payable
for certain public debts and dues and OBJ
legations between national banks.
Division at Issue and Redemption.
Sec g. That there be established in the
Treasury department, as a part OF the or
Ace OF the treasurer OF the United States.
q division TO be designated and be known
sGs the division of issue and redemption, to
which shall be assigned. under such regU-
lations as the secretary OF the treasury
upay approve all records and accounts
Heating TO the issue, redemption and tx
<sNange as hereinafter provided. of the
OeSeral kinds of United states money
There shall be transferred from the gem
erai fund in the treasury of the United
States and taken up on the books ~ me
said division as a redemption fund the
amount OF gold coin and bullion held
against outstanding gold certificates, the
amount of United States notes held
against outstanding currency certlncates
the amount OF silver dollars held against
outstanding silver certificates. the amount
in silver dollars and silver bullion held
under the act OF July IA. 1870. and an
amount OF gold coin and bullion 10 con-
stitute a reserve fund equal y y per cent.
Of the amount both OF United states
notes and treasury notes issued under NE
act OF July H. 1890. outstanding The gold
and silver coins and bullion transferred
from the general fund in the treasury, as
hef elm provided. shall be increased or d.
unfinished as the case may be. In accord
0nce with the provisions or TINS act, anu
In no other way.
1.oId Re.crxe Tund-Hoyy Maintained
Sec. 4. That IL shall be the duty Of the
secretary of the treasury 10 maintain the
gold reserve fund taken up on the book 2
Of the division OF issue ana redemption -
herein provided. and for this purpose ne
may from time 20 time transfer 10 SUCH
fund any moneys TN the treasury not oth-
erwise appropriated. or may eNghanse
any OF the funds In the division OF issue
and redemption for other funds when
may be the general fund OF the treasury
and. IN addition thereto. he Is hereby au-
thorized 20 issue and SELL whenever, i'm
his Judgment. IL is necessary 70 IN" NAM
tenanee OF said reserve fund. bonds Of the
United states bearing interest ~ RAJ
not exceeding three per centum per annuni
payai IL IA gold coin at the end of 20 years,
but rrdeemable Ia gold coin AZ the oplnu
of ths United states after one year But
no transfer shall at any time be made
from the general fund ~ the treasury 20
Che sivision Of issue ana reie INCEPTION
SsJO0A0O0 That all United states notes
and treasury notes issued under the act
of July IA. 1880. presented FOR redemption
abalf be redeemed in gold coin az the will
of the holder, and all silver certificates
Dresented for redemption snail be re-
deemed i'm accordance with existing law
The secretary Of the treasury y aut ~,
axed and required to use said reserve fund
IA maintaining at all times the parity and
equal value OF every dollar issued Oi
roiped by the government, and If az any
tfme the secretary of the treasury deems
n necessary in order to maintain the pari
~ and equal va ne OF all the money OF tbs
United States, he may. at his discretion
exchange gold coin for any other mon.s
fasued or coined by the United states Tbs
uotes and certificates so redeemed or ex
changed shall be held i'm and constitute 9
mart OF said fund and shall not be With
drawn therefrOm nor dishursed except II
exchange for an equivalent amount Of tn
coin In which said notes or certificate.
were redeemed or exchanged. except a.
herenbefore in this section provided
Nothing in this act shall be construed "a
repeating that provision or the act Az
proved July a. 1890. which provides thsi
s.no greater or less amount Of such note
.ohaii be outstanding at any time than tn
cost of the silver bullion and the Standar'
silver dollars coined therefrom. then he'll
An the treasury purchased by such notes.
Subsidiary SILVER COINS.
Sec 8 That the secretary Of the treas
ury is hereby authorized TO use, az ~
ury 81 the United states purchased M }"
thu act OF July IL. 1880. for coinage int
such dcnOmna tons OF subsidiary slNe
coin as may be necessary TO meet the pub
lid require cnts for suCn coin. and an
gain or seigniOrage arising from this coin
age shall be accounted for ana paid int
the treasury Whenever any silver bullio
purcha sed under the acUOf July II. 1850 sha
DE coined. an amount Of treasury not.
ysrIed under said act equal 20 the cost !
\ the bullion contained In such coin shall
cancelled and not reissued.
Worn aud lpcurrcnt Coin.
Sc g. That the secretary OF the treas
ar II hereby authorized and directed I
cause all worn and uncurrent suDsidiar
siiNer coin OF the United States now
the treasury and hereafter received to I
recoincd. and to reimburse the treasure
OF the United States for the dinercns
tbetween the nominal or face value Of sue
coin and the amount the same VIII PR
4 -ducc IN new coin from any moneys IN IL