New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-08-28

psymen. Of the IVES. India indemnify, or An, Ns
vha'everl, there is Extraordinary demand ie, -
| hon, tn Bank 81 England can oo.sn s2ec.e 80
At less COS: and in lees time than sh. can ,b,.,
where, then the Box Of England vii txpo-t =
| specie; and a. the value Of money depsnir =. ~
eshfiiy OF currency, the effect u,nst be % eosts
| our currency and = diminish the value of or,s
city fhOty times The sum Of the contrsc,;or nfT
curfeLcy.
Il requires no argument 10 prove tha. .bs -.
the Rank of England thus To- act noon q - 10
ard 10 regulate the values Of money ana n $50!
i ipcr. ased by the regulations Of our c,p = 10y
increases our Ddeoted0ess twenty milons a, a.
p.r arpur, sugm, n,ed by compound ipsrss, nsss
formulating inde otedness, whith, II 10. rsv, s
by A wise forethougLt, will socu be estima,s5 ~ b
died, OF nhliuns instead II ten millions Dor 1919
is now admitted that money properly sx,snSs5 "a
well heated rsroscs Increases the values o. r.ss.
many times the sum OF the cfpendltar-s. We avs
navy arly two thou and millions vi dcl.srs .ays.S
i, railroads: and wise regulation OF ou- e.ups,,s
ard currency would rDsble Us IN very f. ~ YEAR "a
multiply that sun ,bIeefod. As The value Of proper,
il thirty times the 81 our currency aus he i1yes
ment in railroads sUgments so much u 7sGssd
property, il il manifest that there shoma Do coma
poLoipg Increase OF currency 10 represet ,1e iecs
ing values Of property. Aud a., IN tbs abssres
sufficient gold aid silver and bask l,as, rs.lr,a
bonds sre the mos, aysilsbe ss suo,hiue for s.,.
rercy and the value # these, n the ab-eoce Of
proper organization by which II may % so..Aned Il
necessarily uncertain II is apparent that tie veal
point IN our financial system Is the use now rs.e 4
iron al high prices with these bonds at the dc ecatn
ct which they are sold
As our railroad system has absorbed AID nrs. a
necessity continue q absorb 10 much % ogr sspi n
ard labor; and ~ The purcbase OF foreign ron vi
railroad bords must Iject Us more aud m,-e :, ts
6nancial policy uf the Bank Of England; and s, a
now well unde rs"od that the policy u thar Bank 10
regulate the exchanges eo IA Ia max L'cdal n.
L,srt Of the rsncia world, and as she a. o9ss on,
nre,ept :, stem r cru. her stock of bull oTeIpH
ing our specie al less sO>t Than she csn c7'aa else
where; and as the purchase "i Engi.sa % VITA our
reihoad BONDS increases the power "i the .ak over
our currency il Is apparent that al org s.tatonb y
which American iron be supplied u our Isilroad
CONT anies al less tna II now paid Tor r- yn oe
would greatly promote our hnaheiel ladep snaenos
ard greatly promote The general We hsrs an ErosPry
of tbs country. That this may BE- done the un,a
signed after much rcsearch believes snG ne ventures
to saw that be has arranged the details Of orgsals
ton by which il may be accomplished.
II will be that by giving sutii tent ;, omN
fund and thus appropra,lDg the proceeds 81 the Sale
Of the public lands and the surplas 10 the t1e,sEy
several questions which now di:turb the les ssiioa
Congress will be simultaneously disposed OIL
As the subjects 20 be discu sed Ia this C?nventr
embrace matters of vital importance q 'te whole
country and its chief object will be 20 decsonsr 80
,be satisfaction If the President and Jrgress hss
wise regulation of foreign commerce ana ~ cur cur
nrcy will enable Us 10 turnlsb good Amer! an Hon
less than the cost Of bad foreign ron the undersigned
respectfully invites the cooperation OF th3 press end Of
all persons who may be enabled 10 Impair any import
al fact or suggestion besnog, however rem)tely on
the ustters to come under considera,ion and Lat
The Convention may avail themselves OF the mass Of
facts an valuable sugges tons which Is hopee, will
be contributed he respectfully invites tla al such
whether of fact suggesri De sent
TO him at Washington thatthey may De dses'ed and
arranged in advance of the meeting OF the CoEvenson.
As the great point 10 be established Is what the cot
of producing iron will be- he >pecfuy asks ier de.
faiis as to the localities in which iron may DC advsn
tspeou.y produced and especially rs 70 tue qaaaaty
- ags.r and rot ID
ard of the quantity character ana cost ~ ius, &c.
| 80 that knowing the cost of the raw materials W
may estimate the cost of producing iron.
As these details require the concurrence & ne FL
ecutiye end OF Congress, aud Of those interested
railroads and in the manufacture OF iron, be respees
fully invites the cooperation OF those VINO are nus "
terested and suggests that Convention 81 DelegaH
be held in this city on tie first Monday az January
rext authorized 10 confer with the President aad
Postmaste General and with Congress on the subject
| He respectfully suggests, further, that the pin
| which he proposes TO submit embraces az ofgsniLs
or unc of incorpoI alton in all the states fr0n
which they be obtained, with sufficient capitals
be invested in railroad bonds and other good sesun
ties; that it shall be the duty OF thu Assoeationb
act as trustee and agent for railroad companies 10 the
sale Of their secDIiti and, froD the proceeds such
roles and their own capital to furnish funds % AID q
tie manufacture II iron 10. railroads. thG: there sk&
be fixed duty upon ir0n sufficient 10 prO'sc: the cap
tal invested in lbs manu- seizure, and the currency from
| the contingencies affecting the price o. fJ'egn iron
produced by the financial policy If tbs ak Of En-
glaId that the laws regulating mail cOnts e be
modified to auth )rize contracts With rTosd eom.
panes for the permanent of their rpa s; and that
instead of payments contracts nls.s, there
be delivered TO such companies coupon bonds, charge
able on the revenues tf the Department redeemabs
at the pleasure of tho Government aud bearing inter.
est at the rate Of two and half per cent r sum the
interest upon which at five per would be equal
the ayneLis made for such service .der tie present
systtm; that the whole proceeds Of the public snds
be tran sferred TO the Post Office fund.- and tina. whsn
ever the funds in the Department and The sorplush
| the Treasury, beyond a sum to be fixed by law, WI
permit, it shall b. the duty of the proper officer ofs
Government TO purchase up at par such If these ceu
| pon bonds rs may have been deposited, under the
laws Of any Of the States basis for bank iss7ss
in the order OF the registry Of such boGds % the Treas
| ury by the banks making such deport
AS II is important that the inf nation be MATE 70
its details, 1t Il else important that specine Mces
and Of GOALS with details alton qu An.y, md
quality, be submitted to The ConventiJn aud -
examination OF Members Of Congress- the uo iersgpA,
therefore, respectfully ssks that specimens OF vslos
Ores, with deras As 10 quantity quality, end cost
mining and delivery and fbat specimens ~ coSls, sin
like details, be forwarded 70 him ia " lshngt,n BY
| Members OF Congress, tie Delegates 10 fne COnyer'
zion, " such other OF conveyance Gay Offer.
In conclusion, this circular Is addressed Ia sr per.
sops lDete, tea 40 he sbuiactUre Of iron lal rail-
roadr; but Il WI. lie that it also rsier5 . 40
equalization 81 the cIp..a nov invested N railroads
AID 10 be- so invested, aud 10 the curreIcy Az sacb
az are interested in THESE al.o iaViVi T. aid ~ az
delegates TO The Convention or by such suggesicrs
Us they may desire 10 make; and il is impossible
fer The UNDER igne5 Ia nOw personal I'll those 20
| whom such a circular should be atdrc.s51, he ssks
the aid Of Newspapers 10 distribute il. snd begs al
who able ard wiling 70 sid in ths measure pro.
poed to receive it % addressed 10 thcia ,ersolsy
| az 10 con nuricste with him accordingly.
WolAtngtor Chy Aus. IS 1887. DUFF GREEN
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