Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-24
The Republican Measure that Con-
ference Committee Will Report
WILL BECOME a Law
United States Note, ona Treasury
Notes 60 BIO Redeemed TN cold
How tho Cola Reserve shall be
maintained : silver ana small
Banks-Prorisions or tho nciund.
Ing NH Uncnrrcnt silver, o,c.
lBy Telegraph to virginian-Pllot.)

tBy Telegraph to Virginian- Pllot.)
Washington, d. c., Feb. 2S.-The Re-
publican members of the conference
committee on the financial bill reached
an agreement to-day. The Democratic
conlerees were called in and stated
their opposition to the bill. and with
out further formality the bill was or
dered reported. The bill as agreed
upon and as it probably will become a
law provides:
That the dollar consisting OF twenty
five and eight-tenths grains of gold
hine-tenths fine shall be the standard
unit OF value. and all forms of money
issueu or coined by the United States
shali be maintained by the Secretary
OF tue treasury ut IL parity OF value
with this standard
NOTES REDEEMABLEl IN GOLD.
United States notes and Treasure
notes, when presented to the TREASURY
LOT reoemption. shall be redeemed In
soid coin OF the above standard. and
The Secretary OF the Treasury shall sct
upart IN the Treasury Il reserve fund OF
one hundred and fifty million dollars In
Sotd com and bullion solely for thu
resumption of such notes as herein pro-
viuea. which, upon being redeemed,
such reserve fund ~
hlrst, by exchanging for any gold
com III the general fund of the Treas
ury. 'tS
Second, by accepting deposits of gold
com ut the Treasury or ut the sub
treasury In exchange for the United
states notes so redeemed
Third, by procuring gold coin nv Tho
use OIL said notes. II this method OF
main aiming the gold reserve fund fails
ana the amount of such gold coin and
bullion In said fund shall ut any time
iaii peiow one hundred million dollars.
then II shall be the duty of the Sec
rotary of the Treasury to bring 1t I'm
10 maximum sum Of one hundred and
nfty million dollars by borrowing
money on the credit of tho IJnited
states by issue and sale OF 3 per cent.
bonds, payable within one year az the
pleasure of the United States, and pay
uo's, pIlhcipal and Interest III gold cola
OF the present standard value
GOLD COIN RECEIVED.
The gold coin So received shall be
lowered INTO the general fund or the
Treasury and then exchanged for an
equa! amount of the notes redeemed
and held for exchange The Secretary
OF the Treasury Is empowered to use
thesc notes for any Lawful, purpose the
PUBLIC interests may require, except to
'''N~~ III INC current
MUGS. United States notes, when re-
deemed, shall he re-issued, but held In
the reserve fund until exchanged for
reserve fund, together with these re-
deemed notes shall at no time exceed
one hundred and fifty million dollars.
SILVER AND SMALL BANKS.
Nothing contained In this act shall
be construed to affect the lcgal-tender
Quality as now provided by law Of the
silver dollar. or OF my other money
coined or issued by the United states.
The act establishes in the Treasury De-
partment the divisions of issue and OF
REDEMPTION. to approve all records ana
accounts relating to the issue and re-
demptlon OF United States notes. gold
certificates. silver certificates and cur
rency certificates.
COINAGE OF SILVER.
As fast as standard silver dollars ara
coined from bullion. silver certificates
shall be issued therefore, but first an
equal amount Of Treasury notes when
ever received into the Treasury shot1
be retired and cancelled. For gold de-
posits received through the Treasurer
or any assistant Treasurer in sums of
not less than twenty dollars gold GER
titcntes OF not less than that denoui-
nation are to be Issued, the deposits
To be retained solely for tho payment
of such certificates; on demand. such
certificates shall be receivable for niI
public dues. and may be re-issued and
when held by any national banking as
ISOLATION may be counted as part of it's
lawful reserve. The issuance OF GER
tiflcates shall be suspended when the
aggregate gold coin in the reserve fund
falls and remains below s10o, 600, 900 or
in the Secretary's discretion whenever
the aggregate amount of United States
Continual,