The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-18
THE COUNYRY'S CREDIT.
New York Anti-Infiationists
Before the President.
PRESENTATION OF THEIR PETITION.



Measure Of Congress.
The Country's Observation-Disclosures.
The diplomatic courtesy with which the Presi-
dent complmented the gentlemen representing
the New York capitalists who called upon him to-
day to present their views as to his signing the
Senate bill arranging the finances has been the
leading subject OF conversation among Senators
and members OF Congress Just alter the COM
mittee arrived at the White House this
morning General Butler called and was received
at once by the President He remained with him
nearly an hour, after which the President received
the committee, WHO had been patiently waiting,
heard their speeches. and left them, finally, in
scotch mistn AS a matter Of general In
formation to the whole country iC may here
be properly stated, regards this and other mat
tors in which the Presidents nnal decision is de-
sired to be known, that one who has had the most
intimate 0f1cai and personal relations with him
for twelve years past some time ago remarked,
"We never know o half hour before it
becomes q fact what the President Is going to do
on any question:" 1t Is asserted here tonight
that the President was not especially gracious to
the committee, and they went away rather an
noyed. Notwithstanding this, it Ia not disputed
that their mission will have some effect
The committee calling upon the President were
Messrs. A. A. Low, John T. Johnson F. s. Winston,
Professor stanton Blake, Cyrus w. Field, Dwight
Townsend. s. B. Chittenden, d. +. Hawley, John
c. Green and others OF New York. representing the
leading bankers capitalists and merchants, with
out regard to the political opinions OF that
city There were present besides these gentle
men, as mere auditors, Senator's Logan, Carpenter
and Ferry, OF Michigan and Representative Pot
ter OF New York. Mr.. Field, addressing the Prest.
dent, said he had the honor OF presenting to him
a nv o m no boz opJeu Iiofa
and merchants, urging him to veto the Senate
Finance bill, or any other bill that may passed
by Congress tending to innate the national cur
rency
The President having received the petition, Mr..
A. A. Low addressed him as follows:-
TIE PRESIDENTS PLEDGES.
Mr.. PRESIDENT-The Committee, for whom have
the honor to speak, have been appointed 10 visit
Washington for The purpose OF placing In your
more OF their fellow citizens OF New York asking
the interp0sition OF your veto In order 10 avert
Of By and ~ 70
| ton, BY public meetings and BY all the means in
their power they have to mpress upon
sacredly respecting the promises and pledges
nh me have yno been wora sut eyes
as last act Of duty to themselves and to those
only hope that remains to them! they make
their appeal to the President; and we are per-
with the greater confidence because it pf has
been encouraged by the language or your
as they believe the solemn pledge to which
they would more particularly refer was the nrst
M Sne s09 our
do not appear before you as merchants, as fnan.
cers, as political economists, but as citizens Of
the United States asking only that the honor OF
the nation, which was so molly saved by the
armies OF the Union under your distinguished lead.
ton, receiving the sanction Of your high ONCE.
THE COUNTRY ASKS TO BE SAVED.
Mr.. s. b. Chlttenden then addressed the Presi..
Tne people we represent are reasonably alarmed
merchants and bankers OF New YORK have never
been and can never be parties to sectional issues.
they cannot prosper; but. we must warn the
people Of the west and South that unless
capital is promptly assured Of gradual recovery
i tions will be more serious than would result from
Tne ra ns sns s panes n sSs
palmer every day that the the, country e
We want something to recall the virtues OF WASH
ington and MISUNDERSTANDING to enforce their
rich, the honest OF all parties, but most
especially the honest mass OF the great re.
leader. to save your country again. This is no no
battle of blood and battalions. Your present enemy
to overwheim you in case Of mischance Your
SIMPLE words rs 81 p9Tr honestly and frankly
and set back the 'u strpnV tide OF fov any,
corruption which is driving US towards the
aessS o. tss Tn
you; they appeal to you to stand unfnchingly Tor
the faithful keeplng OF your own and the nations
been called to confront and beat back such
torrent OF
VICIOUS AND MBECILE FINANCIAL LEGISLATION,
as you are called to meet to-day. The welfare OF
your country depends upon the measure Of your
courage IN this supreme exigency.
i Mr. Etol1 -
Edward s. Jatrray, OF New York, addressed TO the
President on the financial subject.
THE PRESIDENTS RESPONSE.
The President in reply said that he had watched
the progress OF this bill through Congress with
more interest than he had any other measure
before that body since he had been President He
had at all times been entirely free In the express
sion Of his views and was always opposed to ex-
pansion without redemption, and in favor OF free
banking, accompanied with such legislation as
would carry out the pledges OF Congress and the
4 party In the direction OF resumption OF specie
payments. But he had to look ct this matter q
little differently from the views OF this committee.
1 They snow very we'll what they want, and may
7 imagine as he might were he citizen of New
YORK, that the whole country want what they do.
4 The chairman OF d similar committee from Boston
called on him yesterday. II he ever could be In
I favor OF imitation 1t would be from the enects OF
| such arguments as that gentleman advanced
against it. But that position was unlike the one
! OF this committee from New York.
THE GENTLEMAN FROM BOSTON,
In behalf OF those whom he represented started
ous with a condemnation Of what he 1.-THE Pres
dent had always believed to be right, speaking
as II he were wrong. They opposed the pur-
chase Of United States bonds with sur
plus from the United States Treasury, and
II he had acted as the Boston committee wanted
him to do he would have kept such surplus In the
Treasury until there was not greenback in circu-
lation. THESE bonds were purchased at his own
direction. Another argument was used in the
Boston memorial that the issue OF greenbacks was
AZ ,bsfs.i N. 10 dan