The Washington union., 1857-08-25

Che power Of the Bank over our currency it s apparent
that an organisation by which American iron can be sup
Piled 70 our railroad companies less than Ia now
paid for foreign iron would greatly promote our 6nan-
a independence and greatly promote the general wei
re and prosperity Of this country That this may he
done the undersigned after much research believes and
he ventures sy that he has arranged the details OF an
organization By which Il may be accomplished.
As these details require the Of the Execu-
tive and Of Congress and of those interested in railroads
and ia the manufacture of iron, he respectfully invites
te cooperation Of those who are thus interested and
suggests that consenon of delegates he held in this
y on the first Monday Of January next authorized TO
confer with the President and Postmaster General and
with Congress the subject
He respectfully suggests further that the plan which
he proposes submit embraces organization under
acts Of incorporation in all the States from which they
can be obtained with sufficient capital be invested in
railroad bonds and other good securities that il shall be
the duty of this association 20 act trustee and agent for
railroad companies in the sale OF their securities and
from the proceeds Of such sales and their own capital 10
furnish funds 10 aid in the manufacture Of iron for rail
roads that there shall be fixed duty upon iron suici
ent protect the capital invested in it manufacture and
the currency from the contingencies affecting the rice OF
foreign iron produced by the financial policy Of the Bank
Of England that the laws regulating mail be
90 rnoifed to authorize contracts with railroad
panes for the permanent Of their roads and that
instead Of payments contracts made there be
delivered to sncl companies coupon bonds cargeabe
the revenues Of the department reeemablc at the plea
sure sf fhe goreren and bearing interest the
Of two and half per cent for the interest upon
which al per would be equal the payments made
such service under the present system that the whole
proceeds Of the public lands be transferred 10 the Post
Office fund and that whenever the funds of the department
and the surplus in the treasury, beyond TO be fixed
by law viii permit it shall be the duty cf the proper Of
fcer Of the government purchase up par snch Of these
coupon bonds may have been deposited under the
laws of any Of the States basis for bank issues in
the order Of the registry Of such bonds at the treasury
by the hanks making such deposite
Ii will he that by giving sufficient Post Ofee
fund.- and thus apropatng the proceeds Of the sales
Of the public lands ed the surplus in the treasury
al questions which disturb The legislation of Con-
gress viii be advantageously disposed Of
Az the subjects to be discussed In this convention
brace matters Of vital importance to the whole country
and as chief object viii be to demonstrate to the salts
faction of the President and Congress that wise regu-
ation Of foreign and of currency win
enable furnish good American iron at less than the
cost OF bad foreign ron the undersigned respectfully in
vtes the corporation Of the press and of all persons who
may be enabled to mpat any important fact or slgges
under consideration And that the convention may avail
themselves Of the mass Of facts and valuable sggests
which it is hoped VIII be contributed he respectfully
invites that all such contributions whether Of facts or
suggestions be sent him. at Washington that they
may be dgested and arranged in advance Of the meeting
of the convention.
s the great point to be established is what the cost Of
producing iron under the proposed system will be- he re-
apectuy asks for details the localities in which iron
may he advantageoasy produced, and especially to
the quantity character and cost of mining Of iron and
other ores and Of the quantity caracler and of
fuel Sc 80 that knowing the cost Of the raw mate
Iials we may estimate the cost Of producing iron.
As it is important that the information be minute in
its details is also important that specimens Of ores and
of Goals with details to location, quantity, and
quality be submitted to the convention and to the exam
iation of members of Congress the undersigned there
fore respectfully asks that specimens Of valuable Ores
with details to quantity quality, and cost of mining
and delivery and TINT specimens Of Goals with like de-
tails bc forwarded to him in Washington by members Of
Congress- the delegates to the convention, such other
means Of conveyance may Offer
In conclusion This circular is addressed to all persons
interested in the manufacture Of iron and in railroads. but
viii be seen that it also refers organization Of the
capital invested in railroads and to be invested
and to the currency All such interested in these
are also invited aid delegates the convention
by sncl suggestions they may desire make and
il is impossible for the undersigned TO know personally
all Of those 10 whom such circular should be addressed
he asks the aid Of The newspapers TO distribute it. and
beg all who able and willing to aid in the
proposed to receive it addressed 70 them personally
and TO communicate with him accordingly.
DUFF GREEN.
WAsHIsGros crTY, Aug. Is, 1857
A fra4n philadeIrh;a da4aI tba gaJ A