Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-12-04

Il
The Convention met Al the usual hsur, the doori
being we'll guarded by the police officers-with Ions
wands, 10 exclude the canalc OF the press ana 'hs
| rabble Of the mercantile interest About eighty
| members answered TO their names, such as, "John
Shaver" here, "-"Peter GRIPPE" here, Thomas
Cent per- cent" "here -" Alexander the Copper
smith," "here, Nicholas Diddle," here, &c.
a. c., TO the end of the chapter.
motion was made TO have prayers said
Mr. Jonas Shave-emelose rose. ! am opposed to
any prayers. That's not oar business A man that
IS bank director and owns plenty OF bank STOCKS,
wants good sixty ninety days paper but no prayers
Poor men may pray II is very healthy exercise for
such people, because when they praying they do
no harm. But to bankers, as long as the suspen-
sion lasts and do not see why we may not make II
last as long we please we be the men ana brethren
that need no prayers whasomnever
Mr. Peter GRIPPE of Boston rose. | am IN favor OF
prayers. Ii can do no harm-but some good. Ii
looks well to pray-as II does to 90 to church NOW
have ALWAYS found that can make better calcula
tons Of profit and loss, during long prayer or long
sermon, than can in my bank. It's capital thing
prayngso is plum pudding Let's have one every
morning by all means.
AIR. Verywise rose | am for PRAYING decidedly
We must submit 10 the forms of the world IN every
thing bat in the banking business. l shall vote for
prayers-but short ones.
1t was then decided that prayers should be made
MIR. Bullion rose. | rise TO Introduce a resolution
that all the banks represented in this contention agree
TO resume specie payments IN the NonH q Juy.
nert. l wish 10 bring up the question, and KNOW
some OF the sentiments of the members on Il.
/ Mr.. Papermlll of Massachusetts, rose. am cecl-
dedly against any sadden resumption OF specie pay
ments. In part of the country we lind paper an
| swers for money better than specie Our banks
have been making great profits ever since the llh OF
! Nav last and believe the public can bear great
4 deal OF shaving yet before they will complain. Con-
| sider lifelong ume we paid specie From 1918 up TO
| 1881 nearly twenty years, the banks actually paid
specie demand very much against Their interest
| 1t is altogether against common sense that we
ID hose no M thr
The people can be bled for full year yet and no harm
come of il. Besides, many of US want 10 make large
dividends and this we cannot dc unless we can issue
our notes, without beng pestered for specie. The
merchants and traders bear great deal OF pinch
ing without lnlury-and am not sure but II Is good
for then health.
Mr.. Gripehard Of Wall street rose agree entire
ly with the last speaker. The banks ought not TO
| resume for year or two. In Wall street cannot
make but the ordinary profits, in consequence of the
din-dong for specie. None but locoocos want us 10
| retarH 10 specie payments. As moraland conscen-
tous man, have often thought that paying specie on
demand wicked act and the more that people cry
out for it, the wicked il looks 10 me. If i had
my way would put every man into the States Pr
son who demanded specie of the bank. Yc gods is
it come TO this, that the banks shall not do as they
choose? We have furnished the country with cur
rency for fifty years, and hat have made by il ?
Only about 200 per cent--a mere trfie. am per-
fecy satisfied that the public can bear great deal
of more bleeding | am against resumption as an i'm
HOrdl anu WlCkeu ACT.
Mr.. Diddle from Phladelphia-So ami. We ought
not 10 think of resumption at all until we can get
a new national bank SO that we can completely con
troll the money power of the nation. All legislation
belongs TO u.s. and if the merchants uadersimasine
that they have word to say on the subject reject
their notes the bank and teach them the contrary
In the late rcvulsion, the merchants broke-but
what of that? We saved ourselves. I'm against all
attempts al resumption. Indeed, am Of opinion tina,
for bank to pay specie is very near akin to felony
or felO- de- Sc. either a q please.
MIR. Big pasnch Of Baltimore got up. Ii seeneth
TO me that the dinner hour approacheth for looking
out at the window | smell something fat and savory
in the direction of the Astor House. l move tha
we adjourn.
Then number looked at their gold watches.
| i second the motion.
My gosh it is dinner time.
How hungry feel
Think Of resnming when should think OF din
| ner
These were some of the EXPLANATIONS that fell from
! the members.
The Chairman.-All you in favor Of adjourning say
"aye."
"Aye, aye, aye, 60.
SO they all adjourned to Boydens to resume specie
payments at his refectory. Good