The New York herald., 1873-11-07
CHAMBER OF COMMERCE.

Ncsoiutions I'm Favor OF specie Payments
To BE Discasscd-Faith and Con de nee
Counselied.
The regular monthly meeting or the Chamber OF
commerce was held yesterday afternoon, william
H. Dodge In the chair, George Wilson acting as Sec
retary After the reading OF the minutes there was
had ballot for membership, which resulted In the
election OF the following gentlemen A. p Bacon,
Clyde, nominated by L. ). N. stark; Lewis MAY.
nominated by Simon Tobias; Eihu Spicer, Jr,
nominated by l.. Murray Ferris Jr For member
OF arbitration Committee. Francis s. Lathrop.
Mr.. Blunt offered the following. from Committee
No. o.
York by s commitiee. having carefully examined the
Coston teegraphic night Signals. 10 be used either
approve q the same ana reeommeni them TO the ayor
This was adopted.
The following resolutions we're offered by Mr.. A.
A. Low, who spoke to the resolutions and IN favor
OF the resumption OF specie payments:-
Whereas, psDic" is the prominent characteristic of
great tn lneial crises and panic swas Is iraught with
peril whether 70 me public assembage g the ranks Of
Of ne and pf9pers snd ~ md ,s
naa which i % sSs prneipal i II s ssa the tns prop @ % of
our our rssioas aid eyi ,ie aad whsssas as
want 0, faith in the results industry is manifest. and
The Suspend aa he and oee%
patons under feeling G appehen sion which threatens
trust aggravated Iy cries Of alarm which are some
OF the q the times
COZ comes this Chamber t9eclaTe it, Me n ,he follow
the only solution Of existing difficulties time 10 think
buy meet lou i IN paS SPIRIT r mutual ssso@
tSe ao The aw Of safety A., %s to a. clear @
patience that s'A wo"a @ assSoy the
n wa dsay q o m s 20
to s 81 hr
earth Second. It's beefin national bankng system
has
IS Sanding @ e ns and E
bu,wark OF our financial strength albeit certain modih
scope Third Its that the lesson Of the day I sus
o
In every department OF business, and certain conse
that this other considerat,ons point to plain ana
SnEs to n Psr OF the aa e
der that the losses resulting from great crs may not
crisis Nv which the OF sound currency yany
postpone no avps Moua ia bss
that in falling redeem United states legal
q ths United Stats sa%sis
motive Of general indation and fruitful OF widespread
der nd and besyng these things the cham
assemblies to m II need b. the purchase Of United
national gold 70 the redemption ofTreasury notes
ae9sTdsg to s The sr ana spirit
9 what thus appears TO this Chamber the
aaTs and posses element oi,rsnh il the hundred
power and there would be set at liberty to larger
tent than now legal tender notes to assist the national
bank circulation in its monetary work. Therefore,
Resolved That in urtherance OF their prayer and ami
mated by reasonable hope, the Chamber Of Commerce
early action at Its approaching session in accordance
with the views herein set forth
Mr.. s. b. Ruggles offered long paper on the
agricultural question which was read by the
Secretary, and it ordered that 1000 copies or
document on the Cereals" which MIR. Ruggles
has been six months in preparing, be printed by
the Chamber. The resolutions OF Mr. Low were
referred to special committee OF three to prepare
to report upon them. ana to have general discus
sion on the subject OF specie resumption, two
weeks Ihence. Mr.. Low is chairman OF the COM
mittee. The meeting was then adjourned.