Political Quotes

“last week I introduced with my colleague from Nevada, Senator Reid, the Support of American Silver Eagle Bullion Program Act. This legislation will preserve our most successful silver coin program, the American Silver Eagle Bullion Program. From the inception of the program, the Silver Eagle coin has been the domestic and global market share leader in commemorative coin programs. It is also the largest of the United States Mint's silver coin programs. From Fiscal Year 1995-2001, the program has generated revenues of more than $264 million. Profits from this program ultimately go into the Treasury General Fund, which reduces the government's debt. Since 1986, the Mint, through interagency agreements with the Defense Logistics Agency, has been using the Strategic and Critical Materials Stockpile as a source of silver from the American Eagle Silver Bullion Program. The use of the Stockpile silver is a result of legislative mandates. This stockpile of silver, which had a beginning balance of 137.5 million ounces, is rapidly being depleted. At the current rate of depletion, the silver will be depleted in approximately two months. With the depletion of silver reserves in the Defense Logistics Agency Stockpile, it has become necessary for the Department of the Treasury to acquire silver from other sources in order to continue the Silver Eagle Program.”