Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-09

Public Meeting AT the Rotunda, Yesterday.
A meeting was held yesterday afternoon at the Ro-
tanda in the Exchange, of such merchants traders
and others who approved of the design of the Banks
10 resume specie payments or before the 10th Of
May next. The object in calling the meeting was 10
express the confidence of those who attended it, in the
fitness of such course, and in the competency of the
Banks TO carry II successfully through The requisi
ton was signed by two hundred and sixteen persons
and firms, among whom were compromised the
wealthlest most extensive and influential mercantile
establishments in New York
At two o'clock, the rotunGa was very nearly full,
and the assemblage called order by Mr. Charles
H. Russell, who proposed that Mr. Boorman, (of the
house Of Boorman K Johnson) should take the chair.
On this nomination being unanimously assentcd TO,
Mr.. BoSr assembled the auctioneers rostrum, and
requested Mr.. Jonathan Surgis, and Mr.. James Lee
10 act as secretaries.
Mr.. Peletah Perritt stated the objects of the meet
ing, and enlarged upon the suferngs by which this
city had been oppressed by the suspension of specie
payments, and the curtalments and contractions 10
which the Banks had been compelled and a
sequence. He said he did not wish TO regard this as
political question, but general matter in which
every one who did business in this city immedi-
atey interested. On the resumption of specie pay
by the Banks before the 10Th of May next, de-
pended the successful result of the spring trade, and
our Simultaneous deliverenee from all the emharrass-
ments of our position. The rest of the country would
take its cue from the example set by the banking
adjustments in New York. and the most suspicious
state of things would undoubtedly ensue placing this
city agan in her former palmy condition, and healing
all the wounds credit had suffered. We are not
able to follow the speaker in the arguments he en-
he IL
them as there were no accommodates for reporters
and impossible TO take notes amid the pressure
of the throng; besides Mr.. Perritt was frequently in
audible from the buzz of conversation in other parts
of the of the room. He concluded by moving the
following resolutions, which were unanimously adop-
ted -
Resolved, That this meeting halls with great salts
faction the declaration the part Of the New York
City Banks, of their purpose 10 resume Specie Pay
ments on or before the 10Th May next.
Resolved That we have entre confidence in the So
lidity of our Banks, ans in their ability resume
and maintain specie payments, and that in this mea
sure will give them cordial and active CO.
operation
Resolved, That independently of moral obligation
and legislative enactment, the favorable state Of for
ign exchange and the diminished liabilities, both OF
banks and individuals, call for prompt resumption
of specie payments, and we consider such a course |
the sures means OF equazlng ultimately our internal
exchanges, and Of restoring general prosperity.
Resolved That in contemplating The resumption (
of specie payments, we perceive ne reason to APP
prehend that il will occasion any further contraction
on the part of banks, but the contrary, that
the restoration of confidence, which must necessarily
grow of that measure will tend TO gradual in
crease of their issues, and enable them TO extend
greater facilities the community
Resolved, That regarding the general resumption
Of specie payments by the banks throughout the
United States, essential 10 national credit abroad
and as calculated to regulate national exchanges,
respectfully invite the institutions of other states
10 Simultaneous effort to accomplish this most de-
sirable object.
Resolved, That the proceedings of this meeting be
published.
1t is understood that this meeting originated with
Nessrs. Prime, Ward and King.