[Congressional Record Volume 142, Number 128 (Tuesday, September 17, 1996)]
[House]
[Pages H10481-H10483]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 DOLLEY MADISON COMMEMORATIVE COIN ACT

  Mr. CASTLE. Mr. Speaker, I move to suspend the rules and pass the 
bill (H.R. 1684) to require the Secretary of the Treasury to mint coins 
in commemoration of the 250th anniversary of the birth of James 
Madison, as amended.
  The Clerk read as follows:

                               H.R. 1684

       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 ``Dolley Madison Commemorative 
     Coin Act''.

     SEC. 2. COIN SPECIFICATIONS.

       (a) $1 Silver Coins.--In commemoration of the 150th 
     anniversary of the death of Dolley Madison, the Secretary of 
     the Treasury (hereafter in this Act referred to as the 
     ``Secretary'') shall mint and issue not more than 500,000 1 
     dollar coins, 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 section 5136 of 
     title 31, United States Code, all coins minted under this Act 
     shall be considered to be numismatic items.

     SEC. 3. SOURCES OF BULLION.

       The Secretary shall obtain silver for minting coins under 
     this Act only from stockpiles established under the Strategic 
     and Critical Materials Stock Piling Act.

     SEC. 4. DESIGN OF COINS.

       (a) Design Requirements.--
       (1) In general.--The design of the coins minted under this 
     Act shall be emblematic of the 150th anniversary of the death 
     of Dolley Madison and the life and achievements of the wife 
     of the 4th President of the United States.
       (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 ``1999''; 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 the 
     executive director of Montpelier, the National Trust for 
     Historic Preservation, and the Commission of Fine Arts; and
       (2) reviewed by the Citizens Commemorative Coin 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) Commencement of Issuance.--The Secretary may issue 
     coins minted under this Act beginning January 1, 1999.
       (d) Termination of Minting Authority.--No coins may be 
     minted under this Act after December 31, 1999.

     SEC. 6. SALE OF COINS.

       (a) Sale Price.--The coins issued 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 (d) 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) Bulk Sales.--The Secretary shall make bulk sales of the 
     coins issued under this Act at a reasonable discount.
       (c) 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.
       (d) Surcharges.--All sales shall include a surcharge of $10 
     per coin.

     SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

       (a) In General.--Except as provided in subsection (b), no 
     provision of law governing procurement or public contracts 
     shall be applicable to the procurement of goods and services 
     necessary for carrying out the provisions of this Act.
       (b) Equal Employment Opportunity.--Subsection (a) shall not 
     relieve any person entering into a contract under the 
     authority of this Act from complying with any law relating to 
     equal employment opportunity.

     SEC. 8. DISTRIBUTION OF SURCHARGES.

       Subject to section 10(a), all surcharges received by the 
     Secretary from the sale of coins issued under this Act shall 
     be promptly paid by the Secretary to the National Trust for 
     Historic Preservation in the United States (hereafter in this 
     Act referred to as the ``National Trust'') to be used--
       (1) to establish an endowment to be a permanent source of 
     support for Montpelier, the home of James and Dolley Madison 
     and a museum property of the National Trust; and
       (2) to fund capital restoration projects at Montpelier.

     SEC. 9. 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.

     SEC. 10. CONDITIONS ON PAYMENT OF SURCHARGES.

       (a) Payment of Surcharges.--Notwithstanding any other 
     provision of law, no amount derived from the proceeds of any 
     surcharge imposed on the sale of coins issued under this Act 
     shall be paid to the National Trust unless--
       (1) all numismatic operation and program costs allocable to 
     the program under which

[[Page H10482]]

     such coins are produced and sold have been recovered; and
       (2) the National Trust submits an audited financial 
     statement which demonstrates to the satisfaction of the 
     Secretary of the Treasury that, with respect to all projects 
     or purposes for which the proceeds of such surcharge may be 
     used, the National Trust has raised funds from private 
     sources for such projects and purposes in an amount which is 
     equal to or greater than the maximum amount the National 
     Trust may receive from the proceeds of such surcharge.
       (b) Annual Audits.--
       (1) Annual audits of recipients required.--The National 
     Trust shall provide, as a condition for receiving any amount 
     derived from the proceeds of any surcharge imposed on the 
     sale of coins issued under this Act, for an annual audit, in 
     accordance with generally accepted government auditing 
     standards by an independent public accountant selected by the 
     National Trust, of all such payments to the National Trust 
     beginning in the first fiscal year of the National Trust in 
     which any such amount is received and continuing until all 
     such amounts received by the National Trust with respect to 
     such surcharges are fully expended or placed in trust.
       (2) Minimum requirements for annual audits.--At a minimum, 
     each audit of the National Trust pursuant to paragraph (1) 
     shall report--
       (A) the amount of payments received by the National Trust 
     during the fiscal year of the National Trust for which the 
     audit is conducted which are derived from the proceeds of any 
     surcharge imposed on the sale of coins issued under this Act;
       (B) the amount expended by the National Trust from the 
     proceeds of such surcharges during the fiscal year of the 
     National Trust for which the audit is conducted; and
       (C) whether all expenditures by the National Trust from the 
     proceeds of such surcharges during the fiscal year of the 
     National Trust for which the audit is conducted were for 
     authorized purposes.
       (3) Responsibility of National Trust to account for 
     expenditures of surcharges.--The National Trust shall take 
     appropriate steps, as a condition for receiving any payment 
     of any amount derived from the proceeds of any surcharge 
     imposed on the sale of coins issued under this Act, to ensure 
     that the receipt of the payment and the expenditure of the 
     proceeds of such surcharge by the National Trust in each 
     fiscal year of the National Trust can be accounted for 
     separately from all other revenues and expenditures of the 
     National Trust.
       (4) Submission of audit report.--Not later than 90 days 
     after the end of any fiscal year of the National Trust for 
     which an audit is required under paragraph (1), the National 
     Trust shall--
       (A) submit a copy of the report to the Secretary of the 
     Treasury; and
       (B) make a copy of the report available to the public.
       (5) Use of surcharges for audits.--The National Trust may 
     use any amount received from payments derived from the 
     proceeds of any surcharge imposed on the sale of coins issued 
     under this Act to pay the cost of an audit required under 
     paragraph (1).
       (6) Waiver of subsection.--The Secretary of the Treasury 
     may waive the application of any paragraph of this subsection 
     to the National Trust for any fiscal year after taking into 
     account the amount of surcharges which the National Trust 
     received or expended during such year.
       (7) Availability of books and records.--The National Trust 
     shall provide, as a condition for receiving any payment 
     derived from the proceeds of any surcharge imposed on the 
     sale of coins issued under this Act, to the Inspector General 
     of the Department of the Treasury or the Comptroller General 
     of the United States, upon the request of such Inspector 
     General or the Comptroller General, all books, records, and 
     workpapers belonging to or used by the National Trust, or by 
     any independent public accountant who audited the National 
     Trust in accordance with paragraph (1), which may relate to 
     the receipt or expenditure of any such amount by the National 
     Trust.
       (c) Use of Agents or Attorneys to Influence Commemorative 
     Coin Legislation.--No portion of any payment to the National 
     Trust from amounts derived from the proceeds of surcharges 
     imposed on the sale of coins issued under this Act may be 
     used, directly or indirectly, by the National Trust to 
     compensate any agent or attorney for services rendered to 
     support or influence in any way legislative action of the 
     Congress relating to the coins minted and issued under this 
     Act.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Delaware [Mr. Castle] and the gentleman from New York [Mr. Flake] will 
each control 20 minutes.
  The Chair recognizes the gentleman from Delaware [Mr. Castle].
  Mr. CASTLE. I yield myself such time as I may consume.
  Mr. Speaker, we are here today to suspend the rules and pass three 
commemorative coin bills: H.R. 1684, H.R. 1776, and H.R. 2026. All 
three of these bills have played by the new rules of the commemorative 
coin process. Each has acquired the cosponsorship of over two-thirds of 
this House, and each has gained the endorsement of the Citizens 
Commemorative Coin Advisory Committee. Furthermore, the sponsors of 
these bills have agreed to abide by the terms of this subcommittee's 
bill, H.R. 2614, the Commemorative Coin Reform Act of 1995.
  These accommodations by the various bill sponsors are in recognition 
that, as we heard at our July 1995 hearing, the Commemorative Coin 
Program is clearly in trouble. These problems persist, primarily 
because too many coins have been produced. These three have been 
obtained more than 290 cosponsors, demonstrating that the Banking 
Committee rules in the 104th Congress have not raised the standard to 
the point that all coin legislation is blocked, and that if a group 
follows the rules, they have a reasonable opportunity to get coin 
legislation to the floor.
  Nonetheless these successes should not be taken as invitations for 
many more coin projects to advance. CCCAC guidelines call for no more 
than two programs per year and it will clearly take a while for the 
collecting public to digest the massive Olympic Program that appears to 
have again resulted in losses to the mint.
  Passage of our commemorative coin reform legislation by the Senate 
will help control runaway coin programs and protect the Federal 
Government and the taxpayer from further losses. As necessary we will 
recommend even tighter regulations should it appear that more coins are 
being proposed than the market will absorb. In any event, the days of 
large issues are finished, and future mintages will be allocated based 
on the success or failure of programs that have already been approved.
  H.R. 1684 is the first of these bills before the House today. It 
calls for the Secretary of the Treasury to mint coins in commemoration 
of the 150th anniversary of the death of Dolley Madison. Dolley Madison 
was one of the earliest heroines in American history. She served as 
First Lady for Thomas Jefferson who was widowed by the time he served 
as President and later for her husband, James Madison. During the War 
of 1812, when invading British troops burned the White House, Dolley 
Madison, at some personal risk, saved an historic portrait of George 
Washington. The National Trust for Historic Preservation today owns 
Montpelier, the Virginia estate where Dolley Madison and James Madison 
lived. Proceeds from this coin will go to help endow preservation of 
the building and the estate.
  Mr. Speaker, I reserve the balance of my time.
  Mr. FLAKE. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I rise today in support of the Dolley Madison 
Commemorative Coin Act, and I will urge my colleagues to support this 
bill as well. I do so, with the appreciation that today we are honoring 
the originator of the role of First Lady, and the fact we are helping 
to preserve one of our Nation's historical treasures: the Montpelier, 
Virginia home of James Madison.
  In authorizing this coin and the two to follow, the subcommittee 
again has taken cautious steps to protect the integrity of the 
commemorative coin process. We have received the recommendation of the 
Citizen's Commemorative Coin Advisory Committee, and we have waited 
until the legislation has garnered overwhelming support in the form of 
bipartisan cosponsorship. Most important, however, we have incorporated 
House passed legislation which requires tighter financial control of 
the mint's resources, and the auditing disclosures of recipient 
organizations.
  The subcommittee has strived to maintain integrity in the 
commemorative process. It is our aim to limit the authorization of 
commemoratives, and during the past 2 years, I believe we met this goal 
by only authorizing four new coins over the next 4 years. Given these 
accomplishments, I would urge my colleagues to support this bill, 
support Dolley Madison, and help preserve Montpelier.
  Mr. Speaker, I reserve the balance of my time.
  Mr. CASTLE. Mr. Speaker, I yield such time as he may consume to the 
distinguished gentleman from Virginia [Mr. Bliley].
  (Mr. BLILEY asked and was given permission to revise and extend his 
remarks.)

[[Page H10483]]

  Mr. BLILEY. Mr. Speaker, I want to thank the chairman of the 
subcommittee and also the ranking member for their cooperation.
  Mr. Speaker, early in this Congress, I, along with the rest of the 
Virginia delegation introduced the James Madison Commemorative Coin 
Act. This legislation instructs the U.S. Treasury to mint $1 
commemorative coins to honor the 250th anniversary of the birth of 
James Madison.
  The proceeds from the sale of this coin, once the Treasury has 
recovered all production costs, will go to the National Trust for 
Historic Preservation to be used to establish an endowment to be a 
permanent source of support for Montpelier, the home of James and 
Dolley Madison. In addition, profits from this coin will help fund a 
capital restoration project at Montpelier, which is in dire need of 
repairs.
  I am proud to report 313 of our colleagues share my desire to see 
Montpelier protected and have cosponsored H.R. 1684. As this coin 
required the approval of the Citizen's Commemorative Coin Advisory 
Committee, Representative Castle, the chairman of the Subcommittee on 
Domestic and International Monetary Policy, asked the Coin Committee to 
review H.R. 1684.
  The Citizen's Commemorative Coin Advisory Committee found H.R. 1684 
met all of its necessary criteria for approval except one--the rule 
against honoring the same person twice in a period of 10 years.
  In 1993, James Madison was depicted on a coin observing the 
bicentennial of the Bill of Rights. Recognizing the need to protect 
Montpelier, the Citizen's Commemorative Coin Advisory Committee 
unanimously approved an alternate proposal--a coin honoring Dolley 
Madison in 1999, the 150th anniversary of her death. An amendment was 
adopted at the subcommittee level of H.R. 1684, which will instruct the 
Treasury to mint a Dolley Madison Commemorative Coin in 1999.
  A commemorative coin honoring Dolley Madison would be the first coin 
to honor a First Lady. Furthermore, Dolley Madison would be only the 
third woman to be so honored. I can think of no First Lady who deserves 
this honor more.
  Dolley Madison was the originator of the role of First Lady as it 
exists today. She rejected the somewhat aloof and monarchical role 
crafted by previous First Ladies and redefined the position to be as 
she was--democratic and accessible, yet always stylish and always 
elegant.
  By nature, kind and gracious--and married to a very shy man--Dolley 
Madison took on the responsibility for crafting the social activities 
that are so essential to the affairs of state. This was more than just 
throwing successful parties--it was a bridge between the official work 
of Washington and the private social life of the first couple.
  She was such a compelling and popular figure that she acted as 
hostess for the widowed Thomas Jefferson while her husband served as 
Jefferson's Secretary of State. Thus, Dolley Madison's term as First 
Lady extended from 1801 to 1817--over 16 years.
  Charles Cotesworth Pickney, who ran against James Madison for the 
Presidency, saw first hand how the Nation loved Dolley Madison. After 
losing to Madison, Charles Pickney said, ``I was beaten by Mr. and Mrs. 
Madison. I might have had a better chance had I faced (Mr.) Madison 
alone.'' With the elections approaching, I know many of us would be 
lucky to have Dolley Madison in our corner.
  While Dolley Madison served in the White House as First Lady with 
unprecedented grace, I feel certain Mrs. Madison would be upset at the 
condition of her and her husband's home at Montpelier.
  Dolley Madison was forced to sell the 2,700 acre estate at Montpelier 
in 1844. Thereafter, Montpelier changed hands six times before being 
purchased in 1900 by the industrialist William Henry duPont. Montpelier 
remained in private ownership until 1984 when, upon the death of Marion 
duPont Scott, the estate was bequeathed to the National Trust for 
Historic Preservation. In her will, Ms. Scott directed the National 
Trust to maintain Montpelier as, ``an historic shrine * * * to James 
Madison and his times.''
  Unfortunately, during the years of private ownership, the physical 
structure of Madison's home fell into disrepair.
  The house appears sound at first glance, however, there are many 
basic structural repairs which are needed. While the National Trust has 
invested over $5 million in repairs, the development and the operation 
of Montpelier as a museum and Presidential home, much work remains to 
be done. Because of the property's scale, many additional 
infrastructure and capital improvements still are needed for Montpelier 
to become fully adapted for public use.
  It is these improvements which will be undertaken with the proceeds 
from the Dolley Madison Commemorative Coin. With the funds from the 
minting of this coin in 1999, Montpelier will be able to realize its 
full potential.
  Visitors arriving at Montpelier will be able to walk the grounds 
James Madison did as he formed the ideas which would become the 
principles on which our Nation is based. It was at Montpelier where the 
ideas which became the basis for the Federalist Papers and the Bill of 
Rights were formed.
  With the passage of H.R. 1684, future generations will be able to 
visit Montpelier and study the Madisons' legacy. I urge my colleagues 
to support H.R. 1684 to ensure the Madisons' home is protected for 
future generations.
  In closing, Mr. Speaker, I would like to thank Representative Castle 
for his help on H.R. 1684 as well as bringing this legislation before 
his subcommittee for consideration. Also, I would like to thank 
Representative Pete Geren. Without Congressman Geren's hard work, we 
might not have gotten the 290 cosponsors needed in order to bring this 
legislation to the floor.
  Mr. FLAKE. Mr. Speaker, I have no further requests for time, and I 
yield back the balance of my time.
  Mr. CASTLE. Mr. Speaker, I yield back the balance of my time.
  The SPEAKER pro tempore. The question is on the motion offered by the 
gentleman from Delaware [Mr. Castle] that the House suspend the rules 
and pass the bill, H.R. 1684, as amended.
  The question was taken; and (two-thirds having voted in favor 
thereof) the rules were suspended and the bill, as amended, was passed.
  The title of the bill was amended so as to read: ``A bill to require 
the Secretary of the Treasury to mint coins in commemoration of the 
150th anniversary of the death of Dolley Madison''
  A motion to reconsider was laid on the table.

                          ____________________