People's Pilot, Volume 4, Number 35, Rensselaer, Jasper County, 23 February 1895 — THE PRESIDENT’S BILL. [ARTICLE]

THE PRESIDENT’S BILL.

Bis Suggestions Formulated Into a Bill to Be Bushed. Washington, Jan. 28. —Chairman Springer, of the banking and currency committee of the house, has introduced a bill to carry into effect the recommendations of the President's message, ge has notified bis committer to meet

to-morrow morning and consider the bill. The bill is as follows: An act to authorize the secretary of the treasury to issue bonds to maintain a sufficient gold reserve and to redeem and retire United States notes, and for other purposes. Be it enacted by the senate and house of representatives of the United States of America, in congress assembled, That in Older to enable the secretary of the treasury to procure and maintain a sufficient gold reserve and to redeem and retire United States legal tender notes and treasury notes is- I sued under the act of July 14, 1890, entitled, “An act directing the purchase of silver bullion and the issue of treasury notes theieon, and for other purposes,” he is hereby authorized lo issue and sell at not less than par, except as provided in section 2 of this act, Cnitqd States registered or coupon bonds, in denominations of S2O and SSO and multiples of said sums respectively, payable fifty years after in gold coin of tne United States of the present weight and fineness and bearing interest: at a rate not exceeding 3 per cent per annum, payable quarterly in like coin; and like bonds and the interest thereon shal have like qualities, privileges and exemptions as the bonds issued under the act approved July 14, 1870, entitled, “An act to authorize the refunding of the national debt.” Such bonds may be sold and delivered in the United States or elsewhere as may be deemed most advantageous to the interests of the government. Section 2. That whenever any other legal tender notes or treasury notes shall be redeemed in gold they sLail be cancelled and not reissued; and the secretary of the treasury is hereby authorized, in his discretion, to leceive United States legal tender notes and treasury notes issued under the aforesaid act of July 14, 1890, in payment for any of the bonds issued under the preceding section of this act, and the notes so received shall be canceled and not reissued. Section 3. That hereafter national banking associations may take out circulating notes in the manner now provided by law to an amount equal to the par value of the bonds deposited to secure the same. But this provision shall not apply to any bonds now outstanding bearing interest at the rate of 2 per cent only. Section 4. That hereafter no national bank notes of a less demo.aination than $lO shall be issued, and as rapidly as such notes of denominations less than $lO shall be received into the treasury, otherwise than by redemption, they shall be cancelled and an equal amount of notes of like character, but of denominations of $lO and multiples thereof, shall be issued in their places. All silver certificates now outstanding in denominations less than $lO shall, when received into the treasury of the United States, be retier ad and canceled, and silver certificates not outstanding in denominations larger than $lO shall be isued in their stead. Section 5. That from and after the Ist day of July, 1895, all duties od imports shall be paid in gold coin only, and all taxes, debts and demands, other than duties on imports, accruing or becoming due to the United States, shall be paid in gold and silver coin, treasury notes, United States notes, silver certificates or notes of national banks.

Section 6. That all laws or parts ol laws inconsistent with the provisions of the precediag sections be and they are hereby repealed, and a sum sufficient to carry the provisions of this act into effect be and the same is Hereby appropriated out us any money in the treasury not otherwise apropriated. There is the whole damnable conspiracy of the bankers and the administration. Read it carefully and consider its import. You will observe that section 2 provides that the secretary “at his discretion” may receive legal tender notes and treasury notes for the bonds—and you know what* that means. A secretary whose “discretion” leads him to redeem silver certificates in gold would most certainly accept all notes presented him for bonds. Then observe that the notes are to be destroyed. There would be a run of the treasury for both gold and bonds, and all the legal tender notes in the country would soon be presented. The country would be in debt the amount of all the notes now in circulation, these notes would be destroyed—and the government would have absolutely nothing to show for the whole deal. But the bankers would be in clover. They would hold United States bonds payable in gold principal and interest—• besides that they would hold the gold. Great God in heaven, open -the eyes of the useful people of this country to the outrageous crime about to be committed by the men whom they have chosen to govern them. Arouse them. Shall these infernal bloodsuckers enslave the unborn children of America. Fifty years’ bonds, payable in gold. Better a thousand times .’evolution than such slavery for our children.