, 1869-01-26
fsNaNttdt aNG COMMERCIAL,


MONDAY ErE,1S0, Ja1. Is.
!: il often remarked HI, If ou, alfo ii in ,rces
were DaEagvd vi the same gooi 90 c,.uua sen-c
that every psa en-: m,r @haut'' or ho:1ct e. man
manages tls bu=Ine.e, there wuald he Lo Ell II
tliilcu'ty In deator-+Le, !kt tie .a,lsn, has
.luost Unlimited sccu:iiy IL the xsy Of Property,
sud "Eose ocly Glthcul 5 IL 3 scarcity OF cath
C1a!E-.o II $Nue Ia, neu. on Ills pa.t due oti1-
Fat.oI=. Perhaps no .Ho private gentlemen In
.he eoun!ty cpu.1 have sppk.n On tLis scbisct
>tiss oiiIl Is wnu:d he expected to aeco-d 20
ne1:ly With that "conmou se1ss Ct a
r:td.u! 1nt r:hant' which l.. so oltcn
refrItrn to, than Mr. Henry C. Boweo aud al,, !,
It. h't:cld.o, 0! New YoeE. These gentlemen
havr both hao many years e11:st Ec4 IN n1n3e.
Ii snnetse ou:1tces,s, nuu 1-vtr 1asg. money
'::us:reione. They arc hoth ,Eerch4n's Of the
nloet tlyistle camnl.r:la: repctat!cns. Each OF
'htse 2. nr.cu. n hae - p1au'' for managing the
saions lua1ces ard for r.triac OFT q; the present
nnalc!al 1iltmEn-:lSoe1, who hasn't 1os-a-
ea.s:-hut, lct rs zee huw slc5 arrcel cte N ain
rtsn's Of nj BoTen's plan are: 10 lesalizc eold
so1 tsaets, MD to make erecn acks coLyes:io.p ut
par lato per cent ffty ycsr b:EGe, AZ thca. IL.
eohStft1blc at the option Of the toId-r 1c,o
er.ent axis. To ;hese two po!nts-wh;ch are
teconirE more and more popu'ar every day-ee
sdds tcn.me tor utilizing the gold tu the
lrasnry- atd for breaking down the prise OF
Crla b. adv cattrc that the government Should
anticipate the maturity OF It's eol1 ln,c,es,
corrone on any OF Its bords, dlsconrtiag those
stat m7tuEea earliest to the full extent OF all the
sole in thu Treasury. On tho subject of con-
friction OF tho curFLncJ as means Of getting
eack toepSctc payments, he says:
The plan tucgestea BY somc theorists 10 cu,-
feet ketp ny With mas. oi other folly aud non.
senfe lately ncrpe'Tatcd on the com unnity. We
Eeed a cur currency IN circulation, to help us iu
tha process Of resumption and Keep Us Ct. ble Ia
al oui bustress matters. For pfty'e eake there
io,e, don't talk about contraction IL sou want
con;t-ued prosperity. The mo.t sensitive people
legislators Ignore itta fact they blunder.'
Let us Tow Turn to MI. Chfttendcu's view. OF
getting back to rpecte payments, as expressed by
ttm before The New YORK Chamber o. Commerce
or The 2ttt. He said:
at is as impossible fer us to resume and main.
tasr specie payments without contracting tbe pa
PER cnt1enc5 Of lhc country, a. fos one OF US 10
the fsli. 10 the summit Of the rock oysr whca t6e
mA'Ge drst rush: ihit Is The le.enu We Feed to
;mrEcss On onr Me-mskers and learn ourselves.
IN 1t 5c:. am not for violent measures, am nor
su1e that Ws eau wlsely contract TOUR millions per
eight months Of last year 10 ete,t adyan,sec.
Gnanoe, ast bet in The .pia: of 81 m:drsa.,oa. ta's
eary l s.1 that contraction In 1877 dtd no harm
II We had continued The tame iu ISIS we should
mad CONTRACTION Of .rccnhacK+ fosa few d.vs In IN
1858 Let Us 70 back II thst TOT r1oulctf, AMI
~ ~ @ tsuN - NoIke4+ the EI.e pa1sS eonuactcf
snn,c ..r ft;e"n william "a eern - r,
Tors. In noout tau ", ckr and what camc al ~
Did sty hank hrcas?"
Following Oct :his lire OF argument, Mt. Chit
ttp"t Introduced the lol1o vi, resolutions:
"Rsolrtd. Ih4t CO: traction Of tho p.pcr c,r:u
iaflon ol tue cruttrJ y E,tallT necessary 10 per-
'nsErn. :. s, t,st sstarn h 10 sp, eis pay men's.
autbnrizru ~ uo1 rIe.s IN isSE sra is
ru had r, euita.
:" Rrsofred. rnst anv legislation on the subject
o.ss.ufn 70 fpec!o psymehfe which t<torss be
rs,seiSr 1niden ~ ~" iara,. W. M ~i r.
fretly 10 re,,ucis,iou and Ia,iarai ,,shnnsr" "''
tAttIan.c.]
From thcsr twoTrstaLtes Il will he arpart ut that
the common rcnrc c, rsndcnt mvrehsnt,.. n
which NJ many lnnr,ppty lock- Tor an rim .ita+,on
u Ger nnanc,hl cin,euitics. would no, he yr,r
ttrmcn,Lup crrn n II could all bo sxpro.yod,
TIL r. IL onc luint, no NJ ror, on which Mr H,vou
thd Ns thi'tr. trn arc fully agreed, viz. that
The ~ TX rar,Is! m vcil an thr itnrncn,o n,lvro
,atltaI Of Nr~ Yosk city nre ntturet opsorh.t, In
mani ttoct.psutl,nr onr.,t,,,,r and. a. Az
II e,sncs oD fhe mnrn,.udn ~ ,hr rrornx,d
nuxe, Of th~,r onrt..nrs MIR W,w.n
says h. can cn,, 10 n,ba i'm mrn v hp e,n Inv ami
m up onr hnndrrd snA flf,y millions of roia, or
csn Al plra,ufr nkc totncr four D,f ron, ,,c, An
num- OF nH. pnr crtt rrr day; AMI Il IA ,,rh II me-
onr leg4s lato,a and tuu, x,st, up rssooa thl,.
The vacancy In the ca.hirtsllp In thu Third
EasIna4l Hank. tsurut " thn rc,lpupt,ou of ira
lilo ne-, Ess b. en- hl.e4 hy tho appo,otmeut Of
!. v parxonr, Who has acted a A.yittant cpshie.
and Teller Altuolt elncc tho b.nk vss created.
| Mr.. Parrors Ia thoroughly acquainted with tho
but1ness OF the batk azd al. 1ta customess, and
q "a y f~k inH H. So