The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-03-25

except IN presenting Tor your consideration the
following preamble and resoutlons:-
Whereas o promise TO paw money, whether enanat.
ms rom an individual or government Is not iseif
Whereas an increase Of SO called paper money By, by
our nas q At s n %s with the ae
manded would produce alarm and constsIna,top inn
cause All prudent men q make future Contracts only in
So a. The standard Of weight ae
ss Us e1sa, wsad lower Is be
and ds%orsiizns n' s01 Everybody
Accuracy Of the nasd Standard
,sss for % sss IN ar ToaS 10
smbars i IN SazsrSoas seSs@ss b rTou: e
ssS men &c hem sS
the legitimate branches Of trade commerce and manu-
% and ee M snare q ss sp
s Of the nd a T sSo1n be bs to
cause, all history and our recent experience,
those as 'Ae ce%mo Si which they need Tor daily
use without Sonerrng upon them Of e9mpensa,uns
The existing volume tn sufficiently ,a large
a 2r sb return e 10 specie paymens at the earliest
praedeaSls day alike dictate Of good latin ana
kssoysd That il ne opinion Of the business men Of
unwise and highly prejudcia to the interests OF
whole people Tor Congress in this era OF pro
providing an additional issue o. unied states legal
tender notes or any other kind OF irredeemabe paper
Resolved That if it be deemed expedent by Congress
further national bank notes. insist that the
ad Of o. e % Ss By
based on solid foundations and guarded from abuse by
re- curing reserve OF twenty,tye per cent he main
provisions shall be an efficient mode OF redemption IN
coin.
Resolved, That the prompt action of Congress in
ing the settled policy OF the government: thar more
Il sn saa a NOT IN na D.
and the general business OF the country.
SPEECH OF A. A. Low.
FELLOW CITIzENs-The object OF this meeting
and OF the resolutions that have been read as l
understand, Is by our presence and by our words
to emphasize and enforce the sentiments which
have already been urged by memorial and petition
to Congress; to declare hostility to the exer-
else oil doubtful powers, tending to the derange-
ment OF business throughout the country, and to
the Generalization OF the public mind; to resist
the re-enactment OF war measures" In o time OF
profound peace, and the continued issue OF ire
deemable paper money winch bears the character
OF a 'f0rced loan" Alter referring at consider
able length to the opinions oil Mr.. +. G. Spauldlng
o. New York; Mr. Morrill,, OF Vermont; Mr.. BlDg
ham, MIR. Horton. OF ONO; Mr.. Kellogg, OF Illinois;
Mr.. Stevens, Mr. LoveJoy, OF Illinois; Mr. George
Dawson upon the currency question, and as being
opposed to the expansion OF paper money he
quoted the following from Mr.. Sumner:-"But
while recognizing the existence OF the discretion,
in the last resort under the law Of necessity, the
question still remains II this necessity now exists
And now, as Close shall not cease To be frank
Is " necessary to incur all the unqueStlonable evils
OF inconvertibie paper forced into circulation by
tional faith; to bear the stigma or seeming re-
pudlation; TO lose, Tor the present. that credit
WINCH in Itself. IS treasury ana to teach debtors
everywhere that contracts may be varied at the
will the strOngers Surely there is much in these
inquiries which may make US pause
And We must all set our faces against any PROPOSE
ton like the present except as temporary eX-
pedient, rendered imperative by the eX-
igency of the hourr Mr. Low argued that the
bill pending for paper currency was war
measure resulting from necessity. He said:-The
resolution now before the meeting, to which have
Il ff- trxy in
has been prepared Dy the committee with the view
OF Keeping the discussion this evening within u
Yenences' losses. perpexities and evils resultlnr
from the use OF an trredeemable paper currency,
TO which II would otherwise be natural to refer,
have so often and so ably been set forth, and are
familiar TO the merchants OF this city. that they
do not need to be repeated by me. They are no
greater nov than they have been during the last
ten years. The danger is that they will be magni.
fed rather than diminished, and not a lit
tie Of the danger grows out of an impa-
tient cry for early action on the part or
Congress IN apparent disregard vi the character Of
that action-whether 1t be to fix the limit Of legal
tender Issues at $685. 100000, $500 or some
other sum. have no sympathy with this outcry.
Unless We can have the right KIND OF action 1t Is
better not TO have any action at all. We have had
enough OF limitations, oil promises and pledges
and ii those hitherto gwen are to be disregarded
By Congress, and any Issue OF greenbacks what
ever beyond the $3.50, goo already existing is
be authorized, all sense OF security will vanish,
and there Will lie before US only one vast wilder
ness OF uncertainty, IN which laith ana hope VIII
alike be lost. II the merchants OF New York,
standing by the gates OF entrance through which
SO large part OF the foreign commerce OF the
country noHs, are notaifve to the vast importance
OF a sound currency, redeemabie In gold or silver,
where can Just views he expected to prevail do
not believe that the dulnesS OF trade which
everywhere pervades the country is wholly or
mainly due to the lnactiOn OF Congress, however
desirable early action may be, II u Is IN the right
direction. l have sympathy whatever with tDat
part OF the resolution which demands an immedi-
ate decision OF a question Of such vast import as
that when occupies the attention OF both houses
OF Congress at the present time. 1t Is u question
that concerns not little as merchants, but lar
more as men. as American citizens assembled
here, not merely to urge upon Congress the enact
ment of Just and reasonable laws, but such viii
be conducive to the honor OF our country and the
preservation Of us high ren0wn. What we should
ask, and all that we should ask, Is such action on
the part OF Congress Will tend to eXalt the char
people, to advance the best Interests Of the
community and at the same time improve and
strengthen its moral tone. And or such action We
can afford to wait till tine people at large under
stand better than now what concerns their truest
welfare Truth and the right Will finally prevail.
1t is TO the truth and the right as we have lately
seen that all classes OF citizens yield sincerest
homage-whether IT be paid TO the good when
living or to their memory when dead. For this Lee
us contend now and always; Tor this let us wait,
however We may suffer and at whatever cost.
Time Is constantly working IN favor OF the right,
right firmly, patiently, consistently ana per-
slstently" TO the very end.
SPEECH OF EDWARD ATKINSON.
The word bring from Massachusetts Is this -
W c are rejoced TO see that the time has come
when the discussion Of the great fiscal questions.
on winch the welfare OF the people so much de-
pends can call together snch an assemDlage as the
Que before me. The government itself Is to-day
the great example Of dishonesty and OF useless and
vicious insolvency; hence 1t Is no wonder that It's
agents. It's spies, its lnformers, attempt to cast
o0oquy upon those except for whom the utter
anarchy oil mutual dlstrust would prevail. We're
not the merchants the traders, the people, TAR
better and more honest than the laws their rulers
have made Tor them, the nation itself would cease
TO exist AT the door OF those misguided or de-
PRAYED legislators who have enacted base statutes,
lies the responsibility OF most OF the real FRAUDS
that exist, wei as OF the disgrace OF ialse
charges made against honest men. The employ
ment by government of spies III the administra-
ton Of its affairs, Is always an evidence OF weak
ness and the degree OF their employment always
measures that OF It's lmbecllity and rOtteness.
The ignorant the depraved and the incompetent
men VINO nave Jailed in these past years to dedi-
10 tha atn Hanf rot or rha nnla how