New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-27
RESUMPTION or SPECIE PATMENTS.

TIE CHAMBER OF COMMERCE REPORT IN FAVOR
OF SPEEDY RETURN TO a SPECIE BASIS.
At a special meeting of the Chamber of Com
yesterday afternoon, Mr. George Opdyke in the
chair Mr. A. A Low Chairman Of the Select Committee,
to whom had been referred the subject Of return to
specie payments, reported as follows
The control OF our financial system rests entirely
with the Government that IL is doubtful whether any
commercial body satisfactorily solve the many ques
tous that appcrfan 10 its future working Existing laws
may be well enough understood but the execution them
depends IN no small degree upon the discretion OF the sec
with the laws and the administration thereof as they ap
pear upon the statute book and in the operations Of the
Treasury Department, and out Of past experiences TO
ing before them knowledge Of the policy that Is TO
guide the Treasury Department Is essential to the forma
ton OF any just conclusion and in like manner the pur
suit Of any policy by the Secretary Of the Treasury must
depend on the acIOn OF congress Congress Is about 10
meet and new financial measures 10 be brought for
ward. and 1t is TO be determined whether Sena-
tors and Representatives Will sustain the honorable Secre
tary OF the Treasury in the work OF restoration
cessfuy initiated whether Congress will yield to the
spirit OF generalization which is too general throughout
the land Interests Of vast magnitude involved in
the decision OF this question and the character
Of our people and the standing OF country
among commercial countries Of the world are deter
mined by IT, III IS 10 be decided whether the United
states are at an carly day. TO take stand with the fore
most OF nations or deliberately TO abandon for decades
OF years the position 20 which they have aspred amid AN
the ACKNOWLEDGEMENTS of war and 5sbv ieonerd nt ~
profound peace, the honor Of lie which has been so
cOuragcOusly preserved In the very outset your Com
mittee present the import ance OF rerpp o sncie
reasons for resumption secondary TO this and this
alone OF really vital concern. IL needs no argument 10
prove that great commercial people, occupying an info
nor position IN the scale OF nations. resign itself Ia
perpetual dseSteem at home aud abroad or seek rcdemn
from financial disrepute by stcadfaat adherence Ia
the path OF rccttude through whatever trials may lead
We must continue 10 endure the Ills under which we suffer
and foreign trade langush or retstablish orr
selves upon footing OF equality by aOrdng our Iner
chants and mariners better opportunity TO
Join in the competitions OF the sea and tho
land. The Inconvenience OF deprecated chr.
rcncy are severely felt the scabOard and the
restraints and losses incident 10 abnormal condition OF
our foreign exchanges most patent 20 those who are
brought IN contact with the pecunary systems OF In
gland and continental Europe. Prudent will reuc
family embark their money their merchandise In
lures to distant markets, with gold at premium OF per
cent, with the probability possibility OF a fall OF
10 per Their returns can be brought TO
ket Nor will patriotic men look c0mplaccnty on and
best sccurites-NatiOna State, and City bonds
and Others Of equal worth having long term Of years 10
runIanserred other countries at recfOurths their
real value and dcpore the needless sacrifice. Your
committee cannot shut their eyes 10 the fact that while
the securities referred 10, as general thng are as low
IN the currency Of the country they were before tho
war; and are known 10 hc safe now rs then
they are all al the command Of the foreign bus cr a.
20 cent less The aUUrchcudc1 return OF securities