[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 1864 Introduced in Senate (IS)]
110th CONGRESS
1st Session
S. 1864
To require the Secretary of the Treasury to mint coins in commemoration
of Robert M. La Follette, Sr., in recognition of his important
contributions to the Progressive movement, the State of Wisconsin, and
the United States.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 24, 2007
Mr. Feingold (for himself, Mr. Kohl, Mr. Kennedy, and Mr. Brown)
introduced the following bill; which was read twice and referred to the
Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of Robert M. La Follette, Sr., in recognition of his important
contributions to the Progressive movement, the State of Wisconsin, and
the United States.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Robert M. La Follette, Sr.
Commemorative Coin Act''.
SEC. 2. FINDINGS.
Congress makes the following findings:
(1) Robert M. La Follette, Sr., better known as ``Fighting
Bob'' La Follette, was born more than 150 years ago, on June
14, 1855, in Primrose, Wisconsin.
(2) Fighting Bob was elected to 3 terms in the United
States House of Representatives, 3 terms as Governor of
Wisconsin, and 4 terms as a United States Senator.
(3) Fighting Bob founded the Progressive wing of the
Republican Party.
(4) Fighting Bob was a lifelong supporter of civil rights
and women's suffrage, earning respect and support from such
distinguished Americans as Frederick Douglass and Harriet
Tubman Upton.
(5) Fighting Bob helped to make the ``Wisconsin Idea'' a
reality at the Federal and State level, instituting election
reforms, environmental conservation, railroad rate regulation,
increased education funding, and business regulation.
(6) Fighting Bob was a principal advocate for the
Seventeenth Amendment to the Constitution of the United States,
which calls for the election of United States Senators by
popular vote.
(7) Fighting Bob delivered an historic speech, ``Free
Speech in Wartime'', opposing the public persecution of those
who sought to hold their Government accountable.
(8) Fighting Bob played a key role in exposing the
corruption during the Teapot Dome Scandal.
(9) Fighting Bob and his wife, Belle Case La Follette,
founded La Follette's Weekly, now renamed The Progressive, a
monthly magazine for the Progressive community.
(10) Fighting Bob ran for the presidency on the Progressive
ticket in 1924, winning more than 17 percent of the popular
vote.
(11) The Library of Congress recognized Fighting Bob in
1985 by naming the Congressional Research Service reading room
in the Madison Building in honor of both Robert M. La Follette,
Sr., and his son, Robert M. La Follette, Jr., for their shared
commitment to the development of a legislative research service
to support the United States Congress.
(12) Fighting Bob was honored in 1929 with 1 of 2 statues
representing the State of Wisconsin in National Statuary Hall
in the United States Capitol.
(13) Fighting Bob was chosen as 1 of ``Five Outstanding
Senators'' by the Special Committee on the Senate Reception
Room in 1957.
(14) A portrait of Fighting Bob was unveiled in the Senate
Reception Room in March 1959.
(15) Fighting Bob was revered by his supporters for his
unwavering support of his ideals, and for his tenacious pursuit
of a more just and accountable Government.
SEC. 3. COIN SPECIFICATIONS.
(a) $1 Silver Coins.--The Secretary of the Treasury (in this Act
referred to as the ``Secretary'') shall mint and issue not more than
500,000 $1 coins in commemoration of Robert M. La Follette, Sr., each
of which shall--
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches; and
(3) contain 90 percent silver and 10 percent copper.
(b) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(c) Numismatic Items.--For purposes of sections 5134 and 5136 of
title 31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall be developed in consultation with artists from the
State of Wisconsin, and shall be emblematic of the life and
accomplishments of Robert M. La Follette, Sr.
(2) Designation and inscriptions.--On each coin minted
under this Act, there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the year in which the coin is
minted; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Selection.--The design for the coins minted under this Act
shall be--
(1) selected by the Secretary, after consultation with
artists from the State of Wisconsin and the Commission of Fine
Arts; and
(2) reviewed by the Citizens Coinage Advisory Committee.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Mint Facility.--Only 1 facility of the United States Mint may
be used to strike any particular quality of the coins minted under this
Act.
(c) Period for Issuance.--The Secretary may issue coins minted
under this Act only during the calendar year beginning on January 1,
2008.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins minted under this Act shall be sold by
the Secretary at a price equal to the sum of--
(1) the face value of the coins;
(2) the surcharge provided in subsection (b) with respect
to such coins; and
(3) the cost of designing and issuing the coins (including
labor, materials, dies, use of machinery, overhead expenses,
marketing, and shipping).
(b) Surcharges.--All sales of coins minted under this Act shall
include a surcharge of $10 per coin.
(c) Bulk Sales.--The Secretary shall make bulk sales of the coins
minted under this Act at a reasonable discount.
(d) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders
for the coins minted under this Act before the issuance of such
coins.
(2) Discount.--Sale prices with respect to prepaid orders
under paragraph (1) shall be at a reasonable discount.
SEC. 7. DISTRIBUTION OF SURCHARGES.
Subject to section 5134(f) of title 31, United States Code, all
surcharges received by the Secretary from the sale of coins minted
under this Act shall be deposited into the United States Mint Public
Enterprise Fund.
SEC. 8. FINANCIAL ASSURANCES.
(a) No Net Cost to the Government.--The Secretary shall take such
actions as may be necessary to ensure that minting and issuing coins
under this Act will not result in any net cost to the United States
Government.
(b) Payment for Coins.--A coin shall not be issued under this Act
unless the Secretary has received--
(1) full payment for the coin;
(2) security satisfactory to the Secretary to indemnify the
United States for full payment; or
(3) a guarantee of full payment satisfactory to the
Secretary from a depository institution whose deposits are
insured by the Federal Deposit Insurance Corporation or the
National Credit Union Administration Board.
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