Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-03-14
FINANCIAL BILL.
Secretary Gage Gives Out
line of Its Workings.
Breaks the Endless Chain" and Con-
tains Several Popular Clauses.
Comptroller Dawes Opinion-Puerto Rican
Bill Causing Some Trouble.

Washington, March 13.-Socretary
Gage, today, made the following state
ment in explanation of the provisions
of the financial bill which passed the
House, today: THE financial bill
which now awaits only the signature
of the President to become a law. has
for it's first object what its title indi-
Gates, the fixing of the standard of
value and the maintaining at a parity
with that standard of all forms of
money issued or coined by the United
States.
1t re-affirms that the unit of value
+ is the dollar, consisting Of p and $40
grains of gold $40 fine. but from that
point it goes on to make ii the duty
of the secretary of the treasury 10
maintain all forms of money issued or
coined at n parity with this standard.
Ii puts into the hands of the secre-
tary ample power to do that For thai
purpose the bill provides in the treas
ury bureaus of issue and redemption
and transfers from the general fund
of the treasury's cash $3.50, 600 in
gold coin and bullion to the redemption
fund, that gold to be used for the re-
demption Of United States and treas
ury notes.
- 49,. ~ e.i,
o"' - '...,..l .-.I ,:I
..iii 80, g.. 49,,
az 80 60 .oon ooo c,,., 49, a,r
III n ,,,..,,.,,iI.,I
81 - - go oon az, -, fTi47
ms -. 49,. ,,,,i
,,l.,I ,,,,,. IL, II,
- ~, III e,1d IL III ooror.I
f,d ~. vii, Tho ,,,IIic 81 that the ro-
,,.,., ,,,,d - la,+ nm with cola +,
M GA ooo ooo Ii,lit
..,r,,, ',,,.,,,.,. :. ,,;,.,,, f,,r+bo,. ,,o,,.
Ir ,.,a,,,,,ti,,,,. a., ~, 60 tbot tho
- i- f,,,a II 1,,ll,1
49,. "a e,oa ooo oon ~ ~ i, ,,ahIa :,
,,,i,, :, - tba s1zo ooo ana mani, nv
a,.ai,.,,,r, ~. o.,1I II Ana onnc,.aI fund
-, a,t,nYu.i.o ~, i ,rivcn mower Ia scII
,,a,,,5 ,,,d !, :. md. bis dutv tn 70
,,1,,,i.,, ~ ,rl,tI ~ ~, Stzo oon ooo mari,
~, r,,,t ,,,oa,,
..r,t,, al. ,t,o;,,. i b,o1,o,, b,, ,
mint, ,,bior, ,,robihi.s tho usn of
1900 IA ,.,,1non,oi III mott doaciancias
IN 40 c,,,.ro,t rovo,u.s Tho act nro-
,,idos for tho uItimata retirement Of all
M troas,Irv notes issuad in paymcnt
a. eiI,o,. hul1io, undcr thn sherman
not AZ fast as that bullion is coined
~, eiI,o, do1I,r. treasury notes are to
IL ,ntirod ,,d ronIacad with IN canal
,,,o,,nt of siIvcr certificates
.,rbn measure authorizes the Issue of
pold certificates in exchange for de-
nosits of cold coin tho same rs at
nresent hut susnends that authority
whenever ana 50 long as the gold in
the retention fund is below 800, GOO
GOO and gives TO the secretary the
ontio, ., ,,,.rard tbn issua If silver
certificates when the silver certificates
and United states notes in the general
fund Of the treasury exceed 10000. 900
The bill provides for a larger use
Of silver certificates by declaring that
hereafter silver certificates shall be is
sued only in denominations Of so and
under except as to ~ per cent Oh the
tola' N'iufile'
Vt" cause 81 me PHI when tht
pun VIII EIt'uN appreciate - I'M
i's"' 'ii'l 1t sINts |" t'it 9e'i e'"iS -
~" any = w lN'o puilioii ~ sunSi-
diary silver CONS up to limit OF Sloo,-
,i'S ~
''"i 10y y Sup9Idl"lH SHNe uui ~
PeiloiS 81 active retail trade, but inns
provision VIII give the treasury am
~ "ppoi ,uiilH 70 supply az tile SUP
SIn'a i, slI.fr 'hat ! needed: Ahoth"E
nnnrn 's, 'i.'. ,''F uunilc VIII sIe",S
rn,srv - nf,, ,' ~ ~ ~ an
satisfactory. siI,-a,. na,,. II I'LL +,.oa..,,rt.
or hereafter rocai,.ad " '''