1.This Act may be cited as the
Robert M. La Follette, Sr.
Commemorative Coin Act
.
2.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.
3.
(a)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)The coins minted under this Act shall be legal tender, as
provided in section 5103 of title 31, United States Code.
(c)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.
4.
(a)
(1)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
inscriptionsOn 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)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.
5.
(a)Coins minted under this Act shall be issued in uncirculated
and proof qualities.
(b)Only 1 facility of the United States Mint may be used to
strike any particular quality of the coins minted under this Act.
(c)The Secretary may issue coins minted under this Act only
during the calendar year beginning on January 1, 2008.
6.
(a)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)All
sales of coins minted under this Act shall include a surcharge of $10 per
coin.
(c)The Secretary shall make bulk sales of the coins minted
under this Act at a reasonable discount.
(d)
(1)The Secretary shall accept prepaid orders for the coins
minted under this Act before the issuance of such coins.
(2)Sale
prices with respect to prepaid orders under paragraph (1) shall be at a
reasonable discount.
7.Distribution of
surchargesSubject 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.
8.
(a)No net cost to
the governmentThe 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)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.