Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1834-04-17

DuHH CTCUH In the shape OF certificates OF
deposite, which the holders might negotiate
Postnotes would be more convenient, but
seem to be forbidden by law. That plan
has been successfully adopted in Massa-
chusetts, and several foreign countries.
The city banks are the only proper Judges
OF Its practicability, safety and utility here.
and at this time; and they have according
ly been requested to take it into considera-
ton.
The other measures of relief recommend
ed by the committee are the following:
An agreement between the several banks,
founded upon equitable principles, not to
demand from each other, for the present,
payment in specie of the balances which
may respectively become due to any of
them; unless such balance should exceed
certain sum in proportion to their res
pective capitals.
A uniform and efficient plan for the re-
compton OF country notes in this city, to.
gether with such means as may be devised
tor the purpose of facilitating, at this time,
the country remitlances.
An application to our representatives in
congress, urging the necessity of passing
Immediately the bills now before that bod
tor making the silver coins of Mexico and
the states oil South America, legal tender.
and for raising the value of the gold coins
to their market price; suggesting, in refer
ence to the last subject, that, for the sake
oil uniformity, and of avoiding DELAY, the
same rule should be adopted as in the est-
msilon OF duties on foreign importatons.
An application to congress for moder-
ate and permanent appropriation, which
may enable the mint to pay in American
CONS, w'thou! delay or expense, for the
gold and silver bullion, or uncurrent for.
eign Gems which may be brought to that
establishment
The committee next proceed to an Ella
borate and able discussion of the causes Of
the present distress, and of the effects of
the various financial projects which have
been before the public. The following is
the official account of the proceedings of
the meeting to which this report was made.
AT meeting of the signers of the me-
moral OF merchants and others, to receive
the repors of the Union Committee, held
at the merchants exchange, March Goth.
1884.
Abraham Ogden, esq. was chosen chair
man, and Moses II. Grinnell appointed Sc
eretarv.
John "A. Stevens, esq. apologised for the
unavoidable absence of Albert Gallatin,
chairman OF the union committee, and sta
ted that the report would be read by one of
the committee, whereupon Philip Hone, esq
submitted the report.
On motion of Pelatiab Perit, esq.
l. Rcsolred, That this meeting. concur
ring In the views and opinions of the com
mlttee on the causes OF the present distress,
its proper remedy and the measures of allie
vlation they have suggested, approve and
adopt their report
=. Resolced, That the city banks be re-
quested to take into earnest consideration
the several propositions submitted to them
by the committee, and to adopt all the
measures founded on mutual forbearance
and assistance. and on concert and harmo-
ny Of action, which may enable them to
afford the greatest relief to the community :.
3. Resolred, That it be earnestly re-
commended to the board of brokers to dis
Continue, in compliance with public opin-
lon, sales of stocks on time, in the manner
proposed by the committee.
4. Resolred, That the thanks of this
meeting be gwen to the union committee
for the faithful discharge of their duties to
this time, and that they be requested to
continue their patriotic labors and to report
further to public meeting, or otherwise,
as they may deem expedient
The following resolutions, sent to the
meeting by Albert Galatn, esq were pro-
posed in his absence by John A. Stevens,
esq.
Resolred, That the removal Of the pub
lie monies, from the place where thew were
by law deposited and declared by late
vote of Congress to be perfectly safe, in
virtue of the sole order of the president,
issued only two months before that BODY
was again to assemble, and with the avow-
ed object of being enabled thereby to in
terpose his veto, if congress persisted in its
opinion:
Tho unexampled interference with the
officer to whom the public purse is entrust-
ed, in the performance of duties by law
exclusively assigned to that officer;
The appointment, during the recess of
the senate, of a temporary officer, tor the
special purpose of doing an act, which no
secretary ofthe treasury regularly appoint
ed with the advice and consent Of the SEN
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