The Sun.
London, England, 1839-11-20 00:00:00

distinctly and dectiodly in favour of the con-
tinuing specie payment, happen what would in con.
sequence.

Mr. T. PLIELPS made the following remarks, which
wprt• loudly cheered by the meelinsz- have e,4i-y
assuraoce, and I bell ve there is eve! I- disnositioa

the part of the Banks, to do a:i they cla fur us, com-
patible with their paramount obiigatiod to main-
tam specie payment.—( Loud cheering.) I was
uh.cly considered hostiir to the 8a.,k,, butt the
present time it is most decidedly our duty to
sustain them, and it is their duty to sustain the mer-
chants lam glad to see so dccidA a disposition on
the part of the community to sustain specie p tyments.
It is far better to sustain a sound currency. even
though some of us should WI. But perhaps
none of us need fall. Without specie pay-
ments we are l'ke a ship without a rudder. I there-
fore hope that we shall do all we can to sustain the
banks, and that the banks will sustain us. And I be-
lieve that the banks can stand, and will sand, with
their present prospects. But, come what will, they can-
not, under any circumstances, suspend specie payments.
If we fall, let us fall singly and like men, but there
must he no suspension.—(Cheers.) I trust, however,
that there will be no necessity for any of us to fall. 1
see everything to encourage and stimulate us on our
way, and I think at the end of one or two months all
will, be well."

The Committee appointed to wait on the Banks re-
ported the following resolutions adopted at a general
meeting of that body :
" At a meeting of the officers of the several city
hanks, held on the evening of the 25th of October,
Cornelius W. Lawrence was called to the chair, and
W. M. Vermilye appointed Secretary.
" The chairman stated that the meeting had been
called at the request of a Committee appointed at a
meeting of merchants, manufacturers, and mechanics,
held at the City Hotel, on the evening of the 24th inst.
" Whereupon the following resolutions, offered by
Mr. Edmonds, were adopted ; the first unanimously
and the second with two dissenting votes :
" Resolved, that the banks of the City of New
York must and will maintain specie payments; and that
it is with unfeigned satisfaction they have noticed the
cheering and sustaining voice of their fellow-citizens in
reference to this measure.'

Resolved, that the necessity of a further diminution
of their loans and discounts does not now exist ; but
that it would be unwise and imprudent to pledge them-
selves to any particular course which might be rendered
futile by events over which they may have no control.
And that, in the opinion of this meeting, the views of
the several boards of our city banks, as expressed in
their recent replies to the Committee of merchants, me-
chanics, and manufacturers, give the fullest assurance to
the public that every assistance will be afforded that is
compatible with the paramount duty of maintaining a
sound currency.'

" C. W. LAWRENCE, Chairman.
" W. M. VERMILYE, Secretary."
.. .

These resolutions being approved of by the mer-
chants present, the following were put and unanimously
adopted :
" Resolved, that having confidence in the ability of
the banks to sustain both themselves and the public, by
extending their discounts, we earnestly recommend a
spirit of mutual forbearance and accommodation among
the banks, and among all classes of dealers, during the
present temporary difficulty.
" Resolved, that in the opinion of this meeting it is
the duty of all honourable men to sustain our banking
institutions in the present determination to support the
honour of the country by maintaining specie payments ;'
and,

" ' That, in the opini:n of this meeting, it is perfectly
consistent with the avowed objects of the banks, by
concert of action, essentially to enlarge their discounts.'"
Resolved, that while-we cordially approve the de-
termination of the banks to maintain specie payments,
we confidently rely upon their disposition and intention
to increase their discounts, and otherwise to afford the
most effectual aid in their power to this commercial com-
munity at this distressing crisis.'
" Resolved, that as the interests of the merchants,
manufacturers, and mechanics, and the banks, are
identical, reciprocal confidence and assistance are abso-
lutely necessary to preserve our monied institutions from
disaster, and the trading community from still greater
distress, if not ruin.'
" • Resolved, that we deprecate all hostile feelings to-
wards any sister city, or between any banking institu-
ti.ins in our city, and that we look forward with sanguine
hope that the Government, the people, and the monied
institutions of this country will cordially unite in placing
the currency and financial affairs of the country in a
sound and permanent condition.'
" Resolved, that we recommend to every merchant,
manufacturer, and mechanic in the city to afford to
each other the most liber I assistance and generous
confidence, and that it be the determined resolution
of every one present—so long as it be practicable to
sustain his credit and meet his engageMents—not to give
up the ship.'
" The following was also unanimously adopted :
" Resolved, that the thanks of this meeting are due
to the Committee for the f; ithful manner in which they
have performed their duty.'
" The meeting then adjourned.
" SILAS BROWN, Chairman.
" \V. P. MILLER, Secretary."