New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-22
ANTI-INFLATION.
TIE BOSTON MOVEMENT.

HON. WIN. GRAY--sYNoPsIs OF THE ANri-INPLA
TON MEMORIAL.
DosToN, April 21.-The Hon. William Gray,
Chairman OF the Committee to wait upon the President
which was appointed at the great Authorization mass
meeting held Faneu Hall April Il, has prepared hi.
report which has been submitted 10 the whole Commit
tee. His action unanimously approved, and 1t was
voted that the report and memorial BIO published
tomorrow. Mr.. Gray's report Is as follows;
GENTLEMEN: You are aware that directly after tho
meeting III Faneuil Hall by which We appointed
adopted by the citizens of Boston. was prepared ana
signed by all OF the committee, including my
self 1t was understood that should. as
chairman. keep myself Informed Of the prog
ross OF the bin in the House Of Representatives,
aud notify you when IL became necessary TO go Wash
uston I'VE all agreed visit that city and present the
memorial TO the President as soon as the bill sh0nlI
Vent to SSwYSrk o on my way to tom aud
the evening OF that day while there was informed oy
Immediately that desired to you III Washington
on Thursday merning. the 18th inst.
When 1 reached the Capital at midnight wednes-
day learned by telegraph that OF YOU could be
there before the following Saturday morning As had
the original emorisl with the signatures of the whole
and present 1t TO him. 1 called upon Gen. Sherman
s wnp sy ,e TO So T'n his ' Offer e
and were admitted at once. Cen sherman
Immediately left the President and myself alone lone
together and other person present during me
interview stated TO the President that large puoc
meeting the numbers of which were estimated by me
newspapers from 1880 10 1000 persons had been re-
Gently held in Faneuil Halls that resolutions had been
unanimously adopted and committee appointed
pared by them. TO tho President that the leg
slaon OF the House had adyaneed ra y f5s
moment aud could not reach Washington before satuf
day That regretted Their absence, 9et as ano pas
them, delay seemed unnecessary and requested us
permission to read the resolution and memorial TO mm'
read the paper through without interruption from
the President. When had finished he said: There
fxynf m n
resolutions the ieglendcr acts were first declared
unconstitutional and afterward constitutional by ma
iority OF This - exactly The resolu
tons attack administration III saying that tne eH
tender should have been paid with tie reserves nsau
using them to buy up long bonds. This was the policy
OF my Administrations aud such resolution Is an attack
upon il which do not ike. think tnat policy right
and they cali IL wrong. That policy reduced the pre-
MUM on gold from "a per cent TO 10 per cent
replied that 1t was the general understanding that
the citizens OF the United states full liberty to
assemble in public meetings aud pass any resOltloh
which they saw tit aud present them the President,
observing proper courtesy; that did not write the
resolutions but the Official organ deputed 0y tne
citizens present them to hin. He then remarked that
in the medtla we dep0red the passage OF he original
legal-tender acts, aud he did not IKE tha'' , nna
successfully carried without them that the country
had approved them, and he dd not THINK II righ that
time censure his Administration replied that nei.her
| nor the citZeus OF Boston asked any favor al ms
hands that they desired the right thing to be- done
bat they mad their views of what the right
was, and presented them 10 him; that they ala not
claim nfailiby, and that he would act ON his own
lie then said that Massachusetts and Rhode Island had
more than their share of bank circulation which
Piled Take the excess away from them for viii not
ask Tor Massachusetts anything which would mol ask
for any State in the Union" l have a letter from
one bank president in Boston, expressing Willingness
retire the circulation The President said he would
not have alluded 10 this subject had 1t not been
for the criticisms his Administration contained In
the paper then said TO him that the matters on when
we lad thus far conversed were collateral and had
bearing the questions at issue which were these two
shall the public faith he preserved ana snail we nave
a fixed standard of value enter upon OF inter
min I,lc legal-tpulDr
should be increased in time OF Win no puDc
exigency. 1t would be precedent for any ana every
Congress enlarge them at VIII ana without limit
That should like 20 ask him one question whether IL
would his view and keep the limit Of 6OOOOOO
OF legal tender notes as now established by law
TO pass act of indemnity for the exist
soon as the WORKING balance in the Treasury
should exceed s10OoO0O0 or sl5GO00O the excess OF
plus thai with addition this of proper provision
for redemption on demand OF bank circulation, that
might increased, and that the country be supplied
with all the currency when ii desired and for which IL
that so%iS r:;SS nSs Ss
cord that ne was NOT IN davPr Oh -, i wnt ma
I rened that / had not asked him that question.
dld intend 10 II had done so, should nave
expected reply which would have deferred me from
esIinS another question / then said 1 had executed
INV commission and 'will deain you longer in the
press of your occupations" Dade him gOoi morning,
and the interview closed by his saying am glad to
H''' CIV" ''' MN. GRAY, Chairman.
The memorial which Mr. Gray Tread reelted the resoiu
lions presented and adopted at that meeting and the
appointment Of the memorlalists who say 1--WE
respectfully and earnestly request that you will return
10 the House in which it originated, A bill to fix the
amount OF United States notes and the circulation oil
National banks aud for other purposes" After urging
the advantages of the veto power they say There
are two distinct grounds which we respectfully ask
Won TO withhold your assent to this bill: FIRST That 1t Is
nreindra 10 the interest welfare OF the country land
second That 1t IL violation Of public faith IL there be
ANYTHING settled in commercial nations IL IL that there
should be standard Of value nearly fixed as possible
by which exchanges of property may be adjusted and
whatever Instruments have been may be obtained TO
facilitate exchanges must he referred TO ana Oe gov
erned by some STANDARD The absence OF such saDdaru
has ALWAYS been followed by disaster Ii isiequaly wen
eted that the great body OF work peope require ana
demand for their well being and protection as much GER
uty IN the standard by which their earnings are meas
ured az can be had the nature OF things, and that
they have a greater interest in this subject than any
other portion Of the community Our second ground IL
that IL is a violation OF the public faith. upon
this point we refer to the whole Legislation Vi
the country which Is well known to YOURSELF
and especaly TO the of March is, 1885, the hrst ace
of general nature which received approval four
teen day vs. after your first Inauguration" TIE memoriai
concludes with statement OF the strong feeling IN
Rostop against nfation aud the people there are
now united as man in the protest against any Nc"
issne of rredeemabe paper unwse and unnecessary
and preiudical the interests OF the whoio country
and frarIght with National dishonor.
PUBLIC OPINION