The Oklahoma Representative. (Guthrie, Okla.), Vol. 7, No. 7, Ed. 1 Friday, December 31, 1897 Page: 1 of 4
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The Oklahoma Representative.
Money, Land and Transportation for Americans
-not M,ko,k; no Moke Inteknat,ovai. Conference Buncomb Goes with Real Patriots.
VOLUME 7, ^O. 7
GAGE'S FINANCIAL BILL,
WHOLE MiMBEK 37;
IS OUT FOR THE TRADE!
And the way to get it is to Mark Ciood, Down, and i have
done that. If you want School Hooks call at Renfro's Drug
House. Drugs, Paints and Oils at your own price.
Text of the Measure That Is Proposed
to Hut This Country on a Perma-
nent Hold Basis,
a bill to provide for the refunding of
the national debt, for establishing a
redemption fund and a division of issue
Section 4. That tin* bonds author-
1, ,'V this act aud a"y other bonds of
>e nited States may be deposited
"Hh the treasurer of the Tinted
States as security for the circulation of
notes oi national banking associations
and any national banking association
which .nay desire the bonds herein
C. R. RENFRO,""ufnSro.r*"
WHEN IN GUTHRIE STOP AT THE
THE CAPITOL IS:
j80 feet from Puntojjire.
'10 feet from Of,eii( Hutme.
4-10feet fr„i„ l.eyialatice Hall,
hi the ( 'enter of BHtinets.
THE CAPITOL HAS:
The Best Table.
The Heal Hcds.
The lie hi Service.
The Coolest Rooms in the City,
A COMMODIOUS CYCLONE CELLAR, NINE FEET UNDER GROUND
ENTRANCE FROM DININGROOM.
and redemption in the treasury of the authorised to be deposited as security
I nited States, and to modify existing I ^or 'ts circulating notes shall b ■ enti-
laws respecting national banks; and tled to receive from the comptroller of
for other purposes. the currency and to issue such notes to
lie it enacted, etc., That there be es- a" au>ount equal to the face value of
tablished in the treasury department 8Ucl> bonds; provided that the a gg re-
us a part of the office of the treasurer '' amount of bonds deposited by any
of the United States, a division to be national.baukingassociation under any
designated and known as the division la"' sha11 not exceed the amount of its
of issue and redemption, to which shall <-aPi,al: a"'1 provided further that
be assigned, under such regulations as "°thing herein contained shall be con -
the secretary of the treasury may ap- 'trued h> modify repeal the pro-
prove, all records and accounts relating; v'8'ous «' section .'1,1117 and section ITI
to the issue, redemption and exchange of the revised statutes, authorizing the
as hereinafter provided of the several ^'nptroller of the currency to mi 11 Ir '
classes of I nited States paper money. additional deposit of bond
i here shall be transferred from tne money in cast
WILL FOLLOW A BARGAIN
AND BITE AT A FRAIlf)
lint the steady, experienced Farmers for their Screen
°rS'*"d, everything in the line of Staple and Fan-
cy HARDWARE Goods, Gasoline Stoves etc etc
CO TO THE • •
SPENCER HARDWARE CO
Cor. First and Okla.
Ave,. QUTHRIE, OKLA
i) secure the eirculu
MONL Y SA VED
on FARM LOANS.
Can give you one to ten years' time on Farm Loans. Low
rate of interest—due annually. Allowing the borrower the privi-
ege of selecting the time for payment of same; also permit him to
imake partial payments at any time after one year, with rebate ol
Merest. Call and see me. Your acquaintance will be appreciated
J. STUART McKAY,
105 South First Street, Guthrie, O. T.
general fund in the treasury of the J bonds held t WIt vnuum-
l'nited States and taken up on the tlon not«shall fall behm^he pa,' value
books of said division as a redemption of emulating notes outstanding,
fund the sum of 135 million dollars in for whiel s"eh hon.ls may !>«■ deposited
lilted States gold coin and bullion and as neurit v.
such further sums of standard silver FOB national hank ciikii.ation
dollars and Jsilver bullion purchased Sections. That any national bank
under the act of congress approved inf association whose deposit of bonds
•luly 14, 1890, and shall equal the silver is less t'""" the amount of its capital
certificates outside the treasury and maJ' deP° it with the treasurer of the
treasury notes of 1890 outstanding on lnite<l States, under such regulations
the date when this act shall take effect- as t1"' secretary of the trreasury may
and thereafter, the gold and silver a>>Prove- U nited States notes, treas-
coins and bullion hereby transferred "r^ notes of IW)" and silver certificates
from the general fund in the treasury andsha11 b'' entitled to receive from
as herein provided shall be increased I .,he "oniptroller of the currency and to
or diminished as the case may be, in 1SMle an eijual amount of its circulating
accordance with the provisions of this notes: b"< the aggregate amount of
act and in no other way. bonds, United States notes, treasury
coin fob oovrrnmknt notks. notes of HBO and silver Certificates de-
Section 2. That all United States P^ted by any national banking associ-
notes, treasury notes of 1890 and silver atlon shall not exceed the amount of
certificates presented for redemption lts caPital; provided, that the total
shall be redeemed from the redemption a,nount °f ' nited States, treasury
fund herein provided in accordance Botes of 1880 and silver certificates de
with the terms of existing laws, but posite<l with the treasurer of the United
the notes and certificates so redeemed States under authority of this section
shall be held in and constitute a part shaU not exceed the sum of 200 millions
of said fund and shall not be with-1 dollar8.
issued by any national banking asso-
ciation shall never be in excess of its
paid up capital stock and the addi-
tional notes so issued shall not be se-
cured by such deposit, but shall const!-
tute a first lien upon all the remaining
ol law- assets of the association issuing such
the market value of | notes. Upon the failure of any associ-
ilrawn from said fund nor disbursed,
except in exchange for an equivalent
r — —" «ugc iw an equivalent —nn u i Mie rrom tune to t
amount of the coin in which said notes llis discretion, bonds of the same
Or 1 r*t I fion f tfke. ...«u- 1 - _ I n n,l .li,un ..1 . . ,
and see II.
Bank of Indian
we arc just from
NO 11 know ere
' CHEAP money.
II. Ha<;an, over
or certificates were redeemed. Hut to
enable the secretary of the treasury
more thoroughly to carry out the pro-
visions contained in this act, he is
hereby authorized to exchange any of
the funds in the division of issue and
redemption for any other funds which
may be in the general fund of the
Section ti. That the secretary of the
treasury snail issue from time to titne.in
, , class
and character as those described in the
third section of this act, and shall sub-
stitute the same with the treasurer of
the i nited States for equal amounts of
nited Status notes, treasury notes of
1890 and silver certificates deposted by
national banking associations, and the
bonds so issued and substituted shall
at r<*a«oiialilr ral<>« and for INSURANCE
ln< grain, either in stack or granary, call on
VEEDEll B. PAINE,
i 1;, Gray Building, Division Street Front.
ui i-nu •uusui.utcci snail
treasury department. Provided, that be eharfc'ed to the respective national
not}] tier in fhin .U. 11 1 I lliinlsinrr . .
-THE NEW SHOP can show
. „ „„ . y°u a complete stock of
ollars, Whips, Horse Hlankets, Kobes and
'jnd in a first-class harness shop. buggv and
s a Specialty. Repairing at lowest prices,
de from oak tanned leather, hand-made
Give us a trial and we can save you money.
4 Harrison Av„ Opposite Tontz & Jlirschi's.
, *ucu, l lid l
nothing in this act shall be construed
as repealing that provision of the act
approved July 14, 1890, which provides
that there shall be outstanding at anv
time no more and no less of the treas-
ury notes authorized by said act than
the silver bullion and standard dollars
coined therefrom then held in the
treasury purchased with said notes.
lowbk ratic bonds fok banks.
Section 8. That the secretary of the
treasury be and is hereby authorized
to receive at the treasury any of the
outstanding bonds known as the 5 per
pereentum bonds of 1904 and the 4 per
centum consols of 1907, issued respect-
ively under the act approved January
14, 1875, and the acts approved July 14
1870, and January 20, 1871, and to issue
in exchange therefor coupon or regis-
• tered bonds of the United States in
such form as he may prescribe, in de-
| nominations of tto or some multiple of
| that sum, bearing interest at the rate
Of -i\ per centum, payable semi-an-
nually, and redeemable at the pleasure
of the United States after ten years
from the date of their issue; and the
bonds hereby authorized shall be pnya
de, principal and interest, in United
States gold coin of the present stand-
aro value, and shall be exempt from
all taxation by or under state, munici-
pal or local authority; provided, that
none of the outstanding bonds shall be
received at a valuation greater than
, t#!uPreM"lt worth' to yield an income
bonds and that the
I at. not
----- iuum ami mat the
a;nut^Md8h"1 be iMi,ed
•it* and Overcoat*, all of the month. We will sell vou
than you can get the same goo<%tlSewhere, notwithstanding
.See us for the truth of this statement.
"p. and First Street, Guthrie.
banking associations and be accounted
for by them at such prices, not less
than par, as shall represent the market
value of such bonds And the United
States notes, treasury notes of lsi o
and silver certificates released as herein
provided shall become a part of the
general redemption fund. And the
secretary of the treasury is hereby
authorized to exchange any of said
treasury notes of 1800 and said silver
certificates for a like amount of United
States notes; provided, thut tin-
amount of United States bonds issued
by authority of this section shall not
exceed the sum of 200 million dollars.
Section 7. When any national bank
now existing or hereafter organized,
shall have deposited such United States
bonds. United States notes, treasury
notes of 1890 or silver certificates to an
amount of not less than 50 per centum
of its capital it shall be entitled to re-
ceive from the comptroller of tha cur-
rency and to issue national bank notes
in addition to the .'>0 per centum thus
provided to the amount of 25 per cent
of such deposits; b,t the circulation
ation to redeem its circulating notes
above provided, whether the same arj
issued against deposited security or
general assets, the same shall be
promptly redeemed by the treasurer of
the United States. To secure the
United States against any loss arising
from the guaranty to pay and redeem
such additional circulating notes, it
shall be the duty of the comptroller of
the currency to levy upon and collect,
from every national banking associa-
tion issuing such unsecured circulation
a tax at the rate of 2 per cent per an-
num on su :h unsecured circulation,
which said tax of 2 per cent, per an-
num shall be paid to the treasurer of
the United States in equal semi-annual
payments in January and July of each
year, and when so collected it shall
constitute a safety fund out of which
the United States shall be reimbursed
for any redemption of said unsecured
circulation it may make as herein pro-
vided. The safety fund thus created
shall be invested by the secretary of
the treasury in such government bonds
as he may consider advisable. Said tax
of 3 per cent, per annum shall be in ad-
dition to the tax of 3 per centum annu-
ally on circulating notes hereinafter
rkdkmi'tion fund i'kovisions.
Section s. TI at each national bank
ing association shall deposit and main
tain in the treasury of the United
States a sum of money aggregating 10
per centum of its aggregate circula-
tion, said sum to be in lieu of the 5 per
centum reduction fund now required
by section ;• of the act approved June
20. ls74. to tie maintained and to be
subject to all the provisions of existing
taw respecting said redemption fund
not inconsistent with the provisions of
this act. And iu consideration of the
deposits of bonds, United States notes,
treasury notes of 1*90 and silver cer-
tificates and the tax of 3 per centum
on the unsecured circulating notes of
national banking associations and of
the deposit of lawful money provided
in this section the faith of the United
States is hereby pledged to the redemp-
tion in lawful money of the Uunited
States of all the circulating notes of
said national banking associations
Section 9. That the comptroller of
the currency shall not issue to any na-
tional banking association on and after
the .late when this act shall take effect,
any of the circulating notes of such
association of less denomination than
*10; and whenever any circulating
notes of less denomination then flo
shall be redeemed or received into the
treasury of the Uaited States they
shall be canceled and destroyed and
other notes of lawful denominations
shall be issued in their place.
taxks on tiik circulation
section 10. That on and after the
date when this act shall take effect the
circulating notes of the national bank-
>n«- associations shall be redeemed at
the office of the United States assistant
treasurer in the city of New York and
also at such other subtreasury ofllees
as may be designated by the comptrol-
•er of the currency with the approval
of the secretary of the treasury, an,I
the circulating notes of which national
an ing associations so redeemed shall
he charged to the 10 per centum re-
demption of the association under
such rules as may be prescribed
by the comptroller of the currency
with the approval of the secretary of
Section 11. That in lien of all ex-
isting taxes all nationul banking asso-
ciations issuing notes shall pay to the
treasurer of the United States in the
months of January and July of each
year a tax of one-fourth of 1 per centum
for each half year upon the average
amount of its notes in circulation; pro-
vided however, that during all the
period of time intervening between the
deposit of United States notes, treas-
ury notes and silver certificates and the
substitution of bonds by the secretary
of the treasury as in this act provided.
ie circulating notes specifically issued
therefor and secured 1., -airt t
■States notes, treasury note 01 sllv-'
certificates, shall be exempt from ,
ation under the provisions of •
sm ai.i. bank fok shali. pi.aceb.
"Section 12. Section 5,188 of the re-
vised statutes shall be amended to read
as follows: 'No association shall be or-
ganized with a less capital than #100,000
except that banks with a capital of not
less than 150,000 may with the approval
of the secretary of the treasury be or-
ganized in any place, the population of
which does not exceed 0.000 inhabi-
tants; and except that banks with a
capital of not less than $25,000 may
with the approval of the secretary of
the treasury, be organized in any pla. 0
the population of which does not ex-
ceed 2,000 inhabitants. No association
shall be organized in any city, the pop-
ulaMon ef which exceeds 50,000 persons,
with a iess capital than $200,000.
I his act shall take effect on and
after the day - 189- and all acts and
parts of acts inconsistent with the pro-
visions of this act are hereby repealed,"
Free Silver Convention.
1 ursuant to authority invested in me
as chairman of the Free Silver party of
Logan county, I hereby call a mass
meeting of the Free Silver voters ol
Logan county, to meet at the district
coi-rt room on Saturday, January 8th,
1898, at 2 o'clock p. m. for the purpose
of selecting eighteen delegates, to at-
tend the statehood convention, to be
held at Kingfisher, on January 18, 1898.
H. H. HAOAN, M. W. AM.BN,
CLEANING UP SALE
A Of Paints, Wall Paper, Toys,
| Goods, Perfumes,
'ger Brand White Lead, per cwt, $4.00.
AA Brand White Lead, per cwt. $5.00.
V ane Calvert Mixed I'aint, per gal. 85c
! tri Pre|'"red ,,aint- re^ Price per
1 gal. $1.75, now $1.10.
ha£p7centS °f ,,a,ntS SmaU Ca"S at about
price" T°yS at 'eSS than one third regular
25 cent Lamps at 19 cents.
40 cent Lamps at 32 cents.
50 cent Lamps at 49 cents.
75 cent Lamps at 53 cents.
Tablets, Stationery, Etc.
$1.00 Lamps at 69 cents.
$1.25 Lamps at 88 cents.
$'-5o Lamps at 99 cents.
All Chinaware at one-third less than regu-
lar pricc. s
All Perfumes in bottles or bulk at one-third
less than regular price
Fancy Baskets at one-third less than regu-
All Fancy Boxes, Pocketbooks, Card Cases,
Etc., at one-third less than regular prices
Also some great bargains in Books.
Sale commences TO-DAY m,i ! "
&ii • V"" inUelon£ onJ>-. Two $25.00 Gold Watches given
f 1 ^ miff £ 60n"SMvisf ~
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Hudson, C. C. The Oklahoma Representative. (Guthrie, Okla.), Vol. 7, No. 7, Ed. 1 Friday, December 31, 1897, newspaper, December 31, 1897; Guthrie, Oklahoma. (https://gateway.okhistory.org/ark:/67531/metadc94918/m1/1/: accessed October 27, 2021), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.