Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-10-01
Letter fr0sn the Secretary ofai,e Treas


to Franklin Edison, esq, President of the New
York Produce Exchange New York
"Treasu,y Departments Washington, Sept.
| 80, lS73.-Slr: Your letter of the 29th lnat,
converting two resolutions of the New York
! Produce Exchange has been received ADD the
subject matter fully considered The rc>oIu-
| tons arc as follows:
'Whcreas the critical coalition OF the com
merclal interests Of the country requires 1mmc-
datc relief 10y the removal of the block in ucgo-
tiating foreIgu exchange; therefore T..
"Resolced, That we respectfully suggest to
the Secretary Of the Treasury the following
plans for relief in this extraordinary emergency;
First, that currency be Immediately issued to
the banks or bankers upon satisfactory evldenc"
that gold has been placed upon special deposit
in the Bank of England by their correspondents
in London to the credit Of the Unitei States, 10
be used solely in purchasing commercial bills of
exchange; sccoud, that the President OF the
United States and the Secretary of the Treasury
are respectfully requested to order the lmmc-
date prepayment Of the outstanding loan olthc
United States, due January |. 1871
! While the government is DESTROYS Of doing
all 10 its powor to relieve the present unsettled
condition OF business affairs. as has already
been announced by the President, it Is con
strained in all i!s acts to keep within the letter
and spirit Of the laws which the officers of the
government are sworn to support and they
cannot 60 beyond the authority which Congress
has conferred upon them Your first rcsolu
ton presents difficulties which cannot be over
come. 1t is not supposed that you desire 10
exchange coin in England for United States
currency in New Iork at par. Ifycur PROPOSE.
ton is for the government TO purchase gold ID
England to be paid for in United States notes
at the current market rate in New York. 1t
would involve the government in the business
Of Importing and specializing in gold. since the
treasury has no use for coin beyond its ordinary
receipts, and would be obliged to sell the coin
so purchased at price greater or less than was
paid for it. your object is to induce the
Treasury Department to loan United States
notes to banks in New York upon the pledge
and deposit in London Of gold. it is asking the
Secretary Of the Treasury 10 loan money Of the
| United States upon collateral security, Tor
which there is no authority III law.
II the Secretary Of the Treasury cau Ioan
notes upoD pledge Of cJiu h. can loan lE"m
upon q pledge Of other property in his di>
crrtion, as he has recently been request
ed to do, which would be an cxtrarinary
power as well as u. most dangerous bu>l-
ness to engage ia. and which my judgment
would deter me from undertaking as Secre
| tary of the Treasury, even if ty any stretch
OF construction | night not find it absolutely
prohibited by law. The objections already metz
toned to your first resolution are so iuSuper:bc
and conclusive that it is unnecessary for me 10
refer to the many practical difficulties which
would arise ii an attempt should be made to
comply with your request.
Your second resolution calls for the payment
at once Of the loan Of ISjS. or the bouIs cou
monty called 'tivcs Of ISl4" Upona thorough
investigation AN OF the opinion that Congress
has not conferred upon the Secretary OF the
Treasury the power to crlnply with your re.
| quest in that particular, and III tins opinion IN"
| law officers OF the government concur.
| Under these circumstances, you viii perceive
that white l. haze great respect for the gentle
mcu comprising the Now York Produce Tx
change, | am Compelled by my views Of the
laws and of my duty to respectfully decline to
adopt the measures Which your resolutions pro-
| pose
| have the honor to be very respectfully
yours. &c. WILLIAM y. RICHARDSON,
Secretary oflhe Treasury.
DEATH OF Mr. joins q. MEM. Another
Of the icw remaining old and honorcd citizens
OF Lynchburg, who connect the present with tS
past history, has been called away. Mr. John
q. Mccm departed this lie yesterday afternoon.
at the residence Of Dr. Ro S. Payne. his sou
inaw. Nearly three years ago. While IN the
enjoyment of vigorous health, he was stricken
| down by paralyS since which time he has
been an Invalid. Mr.. Mccu was among the
oldest OF our citizens, ana has i1r probably
more than half century been intimately col
ncctcd with its history. In early .uaIh""d he
removed from Shenandoah. his native county. |
to this city, and engaged in mercantile pur
nh oh Tn he IN y
that he was stricken down by disease. For
many years lie was he leading merchant Of the
city, and successfully transacted j very iarge
business, one Of the fruits Of which was tie
purchase of the splendid Mount Airy estate. II
Shenandoah county. He was a man OF hn1
practical sense ard sound Judgment, which
served to guide him free of the mistakes which
make shipwreck Of the fortunes of so many.
While reserved in his manners and ncrer Il
peoples man, he has always enjoyed the conf
dcncc and respect Of the community, and lrav, ;
a name for honor and integrity untarui>hel and
bright. He was scvcnty-scven years OF age
LwcIJ"y T1y'ninn.
\ DAUGHTER OF ONE OF THE SIAME>E |
Twins MARRIED.-rh marriage Of Nlr. Hay |
mes. OF this city, deaf mute, to Miss Bunker: !
of Mt Airy, also deaf and dumb, took place 4
tew days ago in the latter town. Mr.. Dudley |
a teacher in the Deaf and Dumb destitute, &C
companicd Mr. Haynes Oh his trip Tor his bii".
The niuiscr read the usua marriage ceremony
which was interpreted by MIR. Dudley to the
candidates The responses were promptly made
By signs aud everything was done in order. On
the journey to this city the bridal party camc
very near being drownded while crossing a
swollen stream. The bridegroom, who rev"r
swan Def re, rescued his young bride by swim
ming and carrying her in his armsa distance OF
several yards to the shore. They arrived safe
in the city yesterday morning. Miss Bunker is
daughter Of Eng, one of the ,Si"mcsc hri"S
-Ruieigh Mems
Conservative Meeting. |
Agreeable to announcement made By the ,
County Conservative Commi,tec a meeting was
held at Brcntsvle on Saturday, the 18th day oi
September, 1873.
he meeting was called to order By rapt".n
T 4 I).r ,t hn AZ