The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-10-23
The Propo.ed Curreney InfalIon.

so AASfSsSe SaASANN
The Chicago Tribune Of Sunday gives
the following account Of the origin Of the
Inaation movement in that city. It will
be seen that the design was TO operate
secretly:
A private meeting was held Of 10
o'clock yesterday morning, In the Direc.
tOrS room, Chamber Of Commerce build.
Ing, pursuant 10 q telegram received from
Pittsburgh, requesting that committee
OF prominent merchants and other bust.
ness men be appointed 70 proceed 10
Washington TO arrive not later than
Wednesday morning neXt) 10 meet SINH.
lar delegations from other States, and ask
the Secretary Of the Treasury 10 reissue
the $i4 900 900 OF greenbScks that have
recently been gradually withdrawn from
circulation. ]. W. Preston, President oil
the Board OF Trade, was elected Chair.
man, and Edison Keith Secretary. There
were about half a dozen other gentle.
men present Considerable opposition
10 the movement was manifested by two
or three Of the gentlemen, one oil
them tOrcibly remaTking that tho re.
Issue Of this money TO meet temporary
emergencies would be something like
the conduct VI tue farmer who, find.
ing that his COW did not give milk
enough toiuEnsh tue usual qlantily to
each member OF his family, decided 10
water the milk 30 as TO make il 90 round,
the question being how much more nour.
ishment each member Of the family
would gain 10 Consequence Of the water.
ing process. A very Objectionable phase
seemed 10 be, that the movement was
intendeded TO be strictly private, the del.
egatlons 10 be sent 10 Washington 10 eff
feet the proposed object before any In.
timatiOn Of il could be got into the news
papers Il was thought from this that
the movement was one which ought to
be ventilated before being indorsed, and
II was agreed, In Difference TO this expires
sion OF opinion 10 call public meeting,
to be held on Monday next, in the Di.
rect0rs room, at 10 A. n. II may be noted
that Franklin Macvey and A. n. Wright
are the two gentlemen who had the good
sense to spy out the milk in the coconut,
and II was chiefly in consequence OF their
remarks that the public are informed OF
the meeting. and will have an opportunity
10 vote upon the action 10 be taken In
the matter.
The Tribune has the following to say in
It's financial columns concerning the
merits OF the question:
II does not appear yet where the move.
nent originates, and the Directors Of the
Board Of Trade simply offer the use of
their room TO any person who may wish
70 discuss the question pro or con. The
TACT that there Is to be q meeting does not
prove any preponderance of opinion either
for or against the issue oil more green
backs. Nevertheless, as an impression
prevails in some quarters that there Is q
clamer on the part Of merchants, manu-
lecturers, traders, and farmers, for an in.
crease IN the volume Of currency, 1t is al.
together proper that every one who leels
any interest In either proving or disprov-
ing the correctness Of this supposition
should come, and bring his opinion with
him. ASIDE from the question, practicable.
ny oil getting the additional green
backs into circulation, we submit 10 those
who may argue the point, on Monday,
whether the real object Of an increased Is.
sue Of greenbacks Is not simply to make
rise in the price oil gold; in other words,
10 cause a depreciation in hecredit OF the
government, by depressing the value Of
greenbacks. There is no doubt that an
advance in the price oil gold would assist
the movement oil the present crops, as II
would initiate prices Of grain so thst, tenn.
porarily, they might disguise the present
high ireighs; but it would also soon in.
rite the price OF everything else, so that
the farmer would have no larger margin
left between what he gets his produce and
what be pays for his clothing, provisions,
and other necessaries Of lie. lftheEe was
any such demand for more currency, as
many people seem 10 think, it would be
created by the movement OF the products.
These would carry with them an svaila.
bic credit in banks that would at once be
turned into currency in the form Of checks
and bills OF exchange,