, 1874-02-21
Meeting Of the Merchants Ex-
change.
Resolutions Adopted Deprecating Any
Imitation Of the Currency.
The Course Of The Illinois Senators
Condemned.
Remarks by Mcssrs. McVeagh.
Bliss, and Others.

meeting Of the Merchants E1change-com
posed principally Of Wholesale grocery dealers
WAS held at the rooms southwest corner OF South
Water and State streets, yesterday afternoon
This organization represents one of tho largest
business interests in the city, and numbers about
100 members. AS Friday is generally 4 busy day
with them, only the following-named gentlemen
were present: ?. Il. Willard, Of Willard j. Co.
William Stewart. Of Stewart Aldrich s. Co.;
Frnoklin McVeaSh, OF franklin McVeagh e. Co.
J. B, Briggs, Of Gould, Briggs !, Co.. H, n,
May, Of Ingraham, Corbin g. May; 8. s. Bliss,
OF Bliss, Moore l. Co.. E. J. Warner, OF sprague
Warner & Co.. T. Z. Bradley, of ). Fl. Dunham,
l. Co.; ". T. sharer, Of 6harar d Young, and
George Leslie.
OBJECT OF THE MEETING.
The Association WAS called to order by Mr.
Willard, the President, who stated that the OBJ
ject Ut the meeting WAS to take some nction re-
garding the proposed imitation OF the currency.
Some Of the merchants had fe1taggrieved because
the Senators from Illinois did not state fairly the
petition sent to Congress deprecating an increase
in the volume Of grcenbacks, holding that it did
not reflect the views OF the solid business ill.,
terests Of Chicayo-the solvent merchants and
solvent banks. Hence it was thought advisable
that there should be IN expression Of views un-
der tho lead Of the Merchants Exchange, and
that the action, whatever it might be, be for
warded to our Senators and Representatives in
Congress.
RESOLUTIONS.
Mr. Stewart m owed that committee be ap-
pointed to draft resolutions expressive OF the
views Of the Ex change on the subject.
The motion was agreed to, and the Chair ap-
pointed AIessrs. Stewart, McVerEh, Wnruer,
Bliss, and Briggs.
The Committee left the room, aud, upon their
return in half-an-hour, submitted tho following
report:
WHEREAS. Measures arc pending in Congress, and
adyocateo by tie Senators from Illinois and othe1x,
having for their object increase in the volume Of
Eesoire, That We beere the action O. our Senators
sentiments Of tho merchants Of this city whose inter-
ests identified with those Of the people at tae
NcrthwcSt.
Kesolrod, That forced circulation Of irredecmnblo
paper Is money can only be justified by great aud
cessttous emergencies md ought to be restricted
emergency row exists, and eny increase OF currency
would only derreciats that already existing, and dis
tnrb aud deEango values generally:
Roso!red, That tha faith Of the Government has been
solcnly pledged to the redemption Of its currency
and Tint tts honor Is involved in ths fulR1ment cf
pledges already too lonR delayed and that We recoe
selves in respect to the ordinary obligations to fu
pcumises.
Of the Merchants Exchange Of Chicago attached
to these resolutions, they be forwarded by the Scre
tary to the Hon. John sherman, Chairman OF the FS
nance Committee OF the United States Senate
SENATOR LooAs's POSITION,
Mr. Leslie moved that the report be adopted.
In 10 doing he had one Or two suggestions to
make, which it might be veil to consider, from
the fact Of his extensive acquaintance With
the views and ideas Of merchants generally #
any one Of them we're approached on the street.
it would be found that his ideas we're clear, and
his mindmade up-hs opinions cIystalliaed, IS i.
wero-upon the question of imitation. The reso-
1utions, he thought, 80 completely expressed the
almost unanimous opinions OF the wholesale
merchants TINT little need be said in ad-
dition. He found, from conversations With
them at different times, a universal feeling OF
indignation at the position taken by Senator
Logan. On the grounds that any further e1pau-
sion OF the currency would be detrimental to
the interests Of business, detrimental to the best
in national moral point OF view. Vi must look
at the question as patriots, Is lovers of our
country; and, when We reflected that, eight
years after the great difficulty, the nation WAS
still bankrupt, the situation must be contem-
plated with shame.
COMPARISON WITH FRANCE
When he considered Tint no other nation occu-
pied the position which We did when he consid-
oro1 f,,rtI ar That Eronca rant thrnu1h a +crr;
r. s,t5 h1ncS. car,f1;ct o>,a -, ~ .hsna ~ ~
dsmn;tv deo nr and s1nsn.ns nccnmn,ated deit np,r
oh1 70 ~ aetax
t},a 4 4ahsns ~ w. 10 ors;darad tst r.,;nn
,.;t, .s 1rtaa ..so1raos .,d ~ ,,o,,Ia+;a., ~,
H., ~ ,s+t ~ ;as.s ~ ~ r,dd,e arps and cn1,-
tr.s4od ~ w;th r,nsaT1n1 Amer;ca viii
sW IL, 1;hertiaa %t ito r;rtes :;ts ;ntcli;.
aencs o .N' and riv;1;;z,tion G1; he conFe.sed ho
f~ felt hka 1,fnr h;s haad ont of shama.
And When % he fhonrht that the Senators and
Tan-eaentatiraa IN Tenoreas nronosed ~ maize
-,,tt - worsaItn noaEa or,T c1rrencv Jess vain.
.h,aI-to rnaIa ar ;ndehtadness eTes+er and n
dafs, nsc,nant 5orccr ho conid not h,,t beJ;aue
tr1o F,',tv - nntf;n1 a1sa than moral ;n;or;tv
s.,5 sncI. .,E-na 49, Tann1a,ae
AA4~' '"A'AN'0' s.n .jrr,ou
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sa-roctsd T,sa -osn1nt;ors - ,.ssa1 and arncd
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