The New York herald., 1873-10-24
Grateful Acknowledgment Of the Association
for the Presidents Suggestion, and
and General Recognition that
ssThere's Wisdom for You.''
MORE ABOUT RESUMPTION.
The Treasury Resources and the Treas
ury Requirements.
PHILADELPHIA AGAIN HEARD FROM.

y
ments yesterday without formal notice, bowling in
this instance to public sentiment that was in
danger OF growing too strong for the safety OF
their special privileges At meeting OF the Clear
ing House Association, called to consider that
wonderfully advertised communication Of Presi
dent Grant to President Williams, the latter of the
Metropolitan Bank OF this city, IL was resolved TO
discontinue the equalization Of legal tenders
among the banks, aniterauvely described as "the
scaling system,n on and after November /. In
reference TO
THAT NOW FAMOUS LETTER OF PRESIDENT GRANTS,
on which, without consultation with the Secretary
OF the Treasury or the knowledge OF his private
secretary he was supposed to have communicated
TO q New York bank president valuable state
secret, involving o change OF financial policy
very valuable as "a poinJ'' on the Stock Ex-
change, but which, in view of the pro-
visions Of the Tenure OF once act,
he could not enforce II Secretary Richardson
chose 10 say him nay-there was something OF
the nature Of "nzzle' in It's formal presentation
at the meeting of the Clearing House Association
yesterday. Mr. Williams, OF course, was present, 1t
being in peculiar sense "his funeral.n Intro
ducing the grave subject Of the letter which had
called the association together, he stated the cir
cumstances which had called 1t forth-how he had
written to President Grant by the hands OF Mr..
Anthony upon the subject OF the monetary dis
tress now prevailing in the manufacturing dis
tricts OF New England. picturing, with
THE GLOWING SYMPATHY OF BANK PRESIDENT,
the distress that was likely to upon the poor
operatives and asking President GRANTS powerful
interference In their behalf how Grant gushed in
his conversation with Mr.. Anthony, in sympathy
with the bank president and promised to
empty the cofYers OF the United States
Treasury rather than that one operative
should starve It was "L'Emptrs cest la patI'' to
q different tune. my administration is plentyn
President Grant was supposed to say, and SO pub
lish his intention to feed the hungry, clothe the
naked and make bank presidents OF all mankind
letter, from which the following extract IS made
containing all that interests the public In this
regard
and to aid each otSer and the business
generayf The government then will do all its
DO relief 90 much
Very wise and very shrewd advice on President
the association. but strongly Suggestive OF an
ancient saw that Heaven helps those who help
themselves" Mr. Williams offered a resolution
embodying the extract given above, which, how.
ever, did not seem to meet
THE SENSE OF THE ASSOCIATION s.
and was withdrawn. Then, lest this should seem
TO mean any disrespect to President Grant, the
following resolution, offered by Mr.. Coe, was
United states the banks New York be respectfully
and gratefully acknowledged. and cordially rccipro-
his kind wishes and will in the spirit which he
recommends e ta 3Ws Ft
Mr.. Williams offered resolution to use national
bank notes in settlement of differences at the
Clearing House, which was voted down by
45, with only I in favor. The resolution
to abolish the equalization OF legal tenuer
notes, as stated above, was then passed, where
upon the meeting adjourned. Sic transit gloria
nsatsdL -tN tA f@At
There is satisfaction in all this for those faithful
few who are
II lN LOOKING FORWARD DOGS
to successful attempt at resumption on the part
OF the government next sprlng and who found it
hard to reconcile President Grants recent declara-
tons through the press with his rumored commnni-
cation to Bank President williams. There are
some lew facts, however per contra, that 1t would
be well Tor those blessed wi SO much laith in the
possibility Of an early resumption or specie pay
ments to ponder carefully.
The following were the Treasury balances at the
close Of business yesterday csn ss
y 500 GOO
Certificates OF coin deposits 2900O000
The present volume OF legal tenders outstanding
Is S359,453, ,000 A-1 &A -
Between now and the 1st OF January inclusive
the government has to meet the following pay
ments in coin - aH HT4 &
Due October l-Caed bonds S14 900 900
Due November l-Interest ................. l50O00D
Due November detailed bonds l500OOO0
Due January i-lnterest 250O000
$50 600 0O0