Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1838-08-02

Resumption Of Specie Payments.
The following is an official copy of the
proceedings of the Bank Convention,
which met at Philadelphia on Monday
the 23d ult.
BANK CONVENTION.
Philadelphia July 23d, 1888.
At a convention OF Delegates from the
Banks of Marylan Delaware, Pennsyl.
vania, and Missouri, held this day at the
Bank of Pennsylvania, in the CITY of
Philadelphia, JOHN b. MORRIS, Esq,
OF Baltimore, was appointed President,
aud ELInu CHAuNcEY of Philadelphia,
Secretary.
The following communication from
the committee of Banks in the CITY and
county Of Philadelphia was read:
"The undersigned, committee au.
thorized by the associated banks of the
city and county of Philadelphia, to in.
wife the Banks Of Boston. Providence,
Baltimore and Richmond, .ndsuch otis
ers as the time admits Of, to meet the
Banks OF Philadelphia, in convention in
this city on Monday the Odd of July in.
slant, to consult upon the measures to be
adopted for an early and simultaneo Gus
resumption of specie payments,
Report. That in compliance with the
foregoing instructions. copy Of the res
olutions, and an invitation to meet this
convention were Immediately transmit.
ted to the cities enumerated above, to all
the banks Of Pennsylvania, to Connect.
cut, to Delaware, 10 Charleston, and &c
several ofthe Western States, from w hon
communications had been received on ,
former occasion. Answers having beer
received from Boston, Providence, Nor
wich, Baltimore, Winchester, Richm ono
Lexington, KY. Pittsburg, and othe
parts Of Pennsylvania, are hereto annex
ed. From this correspondence it will
be seen that all the Banks consulted
have concurred in the opinion that thei
respective institutions, whether actively
) represented In this convention or not
will cordially cooperate with the bank
of Philadelphia and assent to such peri
cd as shall be selected by the convention
for the resumption of specie payments
(Signed) THOMAS DUNLAP,
VIM. d. LEWIS,
III. F. HOLLINGSHEAD
CHARLES S. BOXER,
: ELIHU CHAUNCEY,
Committee.
he communications from Banks II
Massachusetts, r.. Island. Connecticut
Virginia, and Kentucky, referred to il
the above report, were read; and the con
yention decided that the letters from til,
Banks Of those states to the chairman O
the above committee, are sufficient {,
authorize him to vote in their behalf OF
the questions which shall come befor,
this convention.
On motion made and seconded, il was
decided that the vote on all questions in
this convention shall be taken BY states
each state having one vote.
The following resolution was offered
by Joseph Bailey, Esq, President Of the
Bank OF Delaware, and seconded by Mr.
Chauncey of Philadelphia,
| Resolred, That the Banks represented
in this convention, will resume specie
payments on the 18th day of Angus,
next, and recommend that day for the
resumption by the Banks generally.
This resolution being under consider.
alton Mr.. Evans of Baltimore moved
that the word thirteenth" be stricken
out, and the word ninth" inserted in
IFS place. The motion being seconded
by j. Smith Esq, President of the State
Bank OF Missouri, the vote was taken
on striking out and decided in the mega.
tive. Those voting for the motion were
Maryland and Missouri, 2; and those
voting against it were Pennsylvania
Delaware, Virginia, Massacbu setts, Con.
necticut, Rhode Island, and Kentuc,
ky,7.
The question being then taken on the
resolution, as offered by Mr.. Bailey, il
was unanimously adopted.
On motion it was ordered, that tn,
proceedings Of this convention be pub
i'shed, and communicated to the banks
generally Throughout, the United States
Attest,
JOHN B. MORRIS, President.
ELIHU CHAUNCEY, Secretary.
The Boston Courier giyes an amus;n,