, 1873-10-22

XII i'in nnainct thor h III H. o." ~ , 4t
gSss sn'g,n fesce rs H. ,nce ~ &ey nayo 9s este1 t.
strca of rssouiintx Al IN hnrmnn~ rIt H. ~ aftt
,a .grit e tho isw bsing h tho irss!an q pl.c!ns
o,r p""ni ~, m.rfct %r coav s @ tku" f ,ssu
ever nation WHO may con etu ir lis noie ~ irizo Of
~ Ms "0i'o'
A. Tho two lasi annnal meslinss of The noard tho
1sat,1n ntnt or r. !rso rsnos VIII onr nSeo.s 81 9
H. III
ths aeyernmens coarly lctaal that n'auy q the
two countries should DO materially modtnod. and that
shoaa @ bs ss on foot that you'd Essa.
n1ga M teou sn9n ssty ansnmsna m y would
tvsen tso two pesples he astufs d sspar"te
9tnnen!a aaa,a ,S. Moa pormit: ~ tue rseommenda.
Nous .ua Tnon ns. tno noaTa nAve yentuf6d* 20
70 o1r T. @ a o1 tns snn!ec. It s be
~ sno dn ttS r. &near1y OF
Trso who h.vo kny favorea u. VIZ thsir presence
hat In nr ionco of ~ ps oern nona
o vosd epo s haa orno
~ cnnvnutto ~ rcnart 9 ~ pon II, M
tons hcsrng no tHs an a 81 H. hG 9es
near1y a QUESTION: rca,1ne to anything like nnova-
!ic1i.f.t,nn de1aSa lava ,con ,,r,en usaua.y
,anf IN. ,ro,n ets.St, paono a.,, sea,,
M, 1svos o. nssa ,anS ppc IN ths u
- Int of
~ sns M heoo " ~ tnt ~ .ue nats " .nusc -
MY a MS 1syz - ~ W. H. i ~ e
~ s ss sran1a
;rrnarI IN n t. Tia sub,sct II aDMty On Gannd,an
Ts1nhar :. una ba pcstrction of 1rcrtean Fnests
Luz ~ -, anu ,t ~ in .sn.t.a,nd w ~
VIZ, wv tt nat ,aas .i ' ~ III Il @ brann s th
general Question o. our trade relations, 1t was
VIII rfaw ~ ante,%uino any nronnsitions
hear,no nnon IL th.t Il ,noht be eubnttcd shcr bY
thn foi,nri or v nny Of the dclcrotcs. Durinr tho
wner ~ n f. @ ~ Hoe o.
ion, vero by Invitation, in sttendancs At liz anuual
S the paon sr Of Tsd 1s ~ ns
corn,y LII an t,catsI gst fratSrnav tbev rcarcI
d. dssst,lons & tas Sody marked @ ssest :S!t
feit not only hy tho prces and pcopIs Of
canuda hut sso tIat its oxnreSstona Of op!iiou On
,of 1reat rns,cct by tto noyernmcnt Tho Council.
[romembnrinr ths hnDpy results attending the yiSs Of,
from she nGoh = n9"ta @ # hs%aI last
viii delegation to atond upon tic present sessions,
I'D ve erstined to 10 .ble q announce to a.
1,a Thc Oouncil would resnatfIy hesncak for theso
sentemcn brotl'eriy eteepE, md tbat thoy may so
}vite 10 crnrnas thcir vinYya ri anv n,estjnin which
Il In by frenent Intercourse viii our felos.men.
not ony q our on but Of e world se
manind, with its common interests and neeessites
AID sofs i n ~ h,s = IT,
~ as th 4i ~ ~ sn ,,n ~ ~ ns i ior
~ ta;f nmns,1s, rfra,o. TO- w w, ,. sI IL
srenghen the bonds Of hnmnn na
hs ~ ~ sinne nbo acsira ma laoI @ H.
sD tho M
u arss a,' easo ts'A nef S'csos'oa no 'a
'eno~nea 'nAh Mar1ox.r W.T. p,u.vcpa
r,.:,, ;... W NJ 49,, s.. . ..,,.. f. ~
ssraed wh 9rs sa1aest sostas thar the e9nqa
10 re pubic Mind VIVA or tne caceeanR
ois 81 ms @ ~ @ ni,ca ~ w" H.
basis ot an tsrsdssmsble circulating medium has pnb-
o dsvsR sha hy Sh @
might be disseveEea leading to restoration
OF tho worlds aeknoWle9Eoa standard OF
has % prsV.Iisd touching avon 'a ho desirsp'e-
o al sno M aho our
saeas oe or Vl
ca ia ooa ~ nrcnnt a. n "
1ite snd future onr National
ian 81 X nas H.. ns ~ t
eyan 1ua ahtnu II To- m asheJ y
on III, a m
tnse u n man ~ \ T., asr. ~. lnn5 n;a1
mr. hst aa1tsd sy s9 S may net a
that tLo stream VIII Rio aboyu Its source II wo.
secured @ I proiso 81 to. pay ~ bank may ie properly
Iy 9 to nax Ss asr nenu
nite al 10 tne why n,ay not tlo banker Or merchant
to forced 10 in OF ObtjQationb held by
him other oDeatiopa provided oujy that they arc
arnpy acclrcl and thus the whoe fabric of con1nor4
e,ui tranBacons DO brought to tho lcve! Of credit
system pure and simpler An arrangement like this,
while 1t might pcrhuls supply volume of circulating
medium atIlo to meet lilo views Of tho most errao
disciple of nlation would generally be regarded a.
proposition 90 pnsroua as to merit only tia riicue
o. contempt Of sl sane mon, and yet 7 may be per-
nently asked wherein does II essentially differ from
our National Bunk Inws7 The recent resort of the
banks In some Of largo elites to tho payment Of
their doposora III their own promises Of obligations,
without my protcnse Of legal authority may be cited
as simply outgrowth OF a systen, the
Fundamental idea Of which is entire har-
| mopy With those moat extraordinary
proceedings. It may be that the authors Of The
scheme referred TO- finding themselves drifting on
turbulent sea OF speculative credit ana, perhaps. nd
ing they were approaching tue yory verge of naeta
ruin, Wsro IN q measure justified Cd ~ Adopting ~
alternative sayoring somewhat Of Tue heroic, AZ tenn.
horary or emergency shtt but + 1na.t hS conceded
nnaouna aud dangerous method Of conducting tht
finances Of great people. ..
Tho whola subject Of currency and tho operations
Of The Nst9nal Banking aws Wy come before you
these questlprH w3l elicit your must Roroas conHdera
ton III all their bearlnga, would simply AuggeAt til,