The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-03-26

ally for questions. A part Of his ar
gument was devoted to the geography
of the country, and its natural re-
sources. He exhibited fine speci-
men of rock salt and gold crystals
and dust, while speaking Of It's wealth,
Schurz will deliver an address on
Monday. in opposition to the treaty.
Although indications are not now ia
7orable. several Senator's said to-day
that the prospects Of ratification are
improving, and delay will contribute
to that end.
The joint Committee on Retreneh-
ment, occupied yesterday, and will be
tomorrow investigating the charges
of fraud and corruption AGAINST the
San Antonio and Ell Paso Mail Com
pany. A large amount of testimony
was presented on both sides. Don
Antonios Flores was introduced to-
day, TO the President by the Secretary
of State. and delivered his credea-
tials as Minister Of Ecuador.
Chicago Bankers Meeting to Con-
slider National Funding Bill-They
MemOrlalize Congress-
CHICAGO. March 25.-The nation
al banks and private bankers of this
city, constituting the Clearing House
Association, in connection with rep
resentatives of several banking insti-
tutions in other parts of the West,
held a meeting to-day, to consider
the act, called the funding bill, now
pending in the House of Representa-
tives. After interchanging views, the
following memorial was adopted:
To the Senate and House of Representa-
Gives of the United States, IN Congress
assembled:
The undersigned business men,
bankers and representatives of bank
ing institutions, other than national
banks, as we'll as those institutions,
respectfully represent that they view
with alarm, a provision in section
seven of the funding bill, so-called,
which has recently passed
the Senate of the United States,
requiring national banks. upon pain
of forfeiting their circulation, to ex
change the bonds already deposited,
for new bonds required to be issued
by said act, as tending to disturb the
financial condition Of the country,
and embarrass and iDjufe monied
transactions, and produce vast loss to
all engaged in mercantile operations,
and consequently, of great detriment
to the country. We do not regard it
as a question simply affecting the ma
tionaI banks; If it were SO, we should
feel much less interest in it. We are
of the opinion that no such change
can take place without greatly dimin-
ishing the value of the bonds held by
the national banks, and consequently
greatly deprecIating the value of all
u. S. Bonds. The measure cannot
otherwise be regarded than as an at
tempt, by an act in spirit at least un-
constitutional, to deprive arbitrarily
one class of citizens, of the rights of
property which are held sacred In the
hands Of others, or as an attempt Vir-
tually to confscate a large portion Of
the capital of national banks. The
undersigned believes that the less leg
islation We have upon the subject at
the present time, except perhaps to re-
move all obstacles TO free banking,
and to place all banking and banking
institutions upon a footing of equal
ity, the better. They, therefore pray
that said provisions may be stricken
out of said bill. and that no legis-
lation may take place that will
in any wise tend to diminish the
banking capital of the country, or
| impair confidence In the fair dealing
and good faith of Congress in its
legislation upon the subject of bank
| ing or currency. They beg leave to
| add to their conviction that the faith
/ of the country In national banks and
/ banking cannot be maintained unless
Congress acts upon the same principle
In relation to them as is recognized
In the States in relation to such insti-
tutions, to wit: That no legislation
is to take place to unnecessa-
/ rily interfere with or disturb the
value of property created under
the encouragement of the acts of
incorporation so long as incorpora-
tors in good faith comply with the
provisions of the acts Of incorpora-
tion. They submit that the reseTva-
ton of the right at any time to
amend, alter or repeal the banking
act was never intended or under
stood to imply the right to destroy
the property of the corporations, or
to legislate unjustly against it. As q
matter OF necessity in time of war, we
cheerfully submitted to the entire
change of the banking system Of the
country, so far as circulation was con-
cerned. Our present system has
worked well, and any change
in it should be prospective,
and not interfere injurIousiy with
vested rights, or rights Of prop
erty, and should, under no circum-
stances, be permitted to take place in
a manner to create apprehension in
commercial circles. At time when
the whole business of the country is
suffering, and such large numbers of
persons are out of employment, we
doubt whether any considerable num-
Der Of capitalists can be induced to
enter into the business of banking un-
der the provisions of the funding bill.
We fear that the legislation proposed
would produce wide spread and gen.
eral disaster.
Burning Of Railroad Bridge.
SAN FRANCISCO. March 25.-The