Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-04-24
THE VETO.
How 1t is Taken in Various
Quarters. 5 . = 7f
In Wall street and Ont.

In Wall street aud Out.
New YORK. April 23.-The veto of the
Senate currency bill was the absorhingtopic
of discussion IN financial aud business cir
cles to-day. The impression that President
Grant would sign the bill having become
very general for some days past, the veto
naturally caused much excitement. The
message created a profound sensation on
the Stock Exchange and precipitated great
depression in share speculation. In conse-
quence of this there was a great pressure 10
sell, which carried prices far below any pre-
yiously made on the present downward
movement. .......
Outside of Wall street the feeling is that
the defeat of the Senate bill is a blessing.
Insurance Views.
In the convention of the National Board
Fire Underwriters, this morning, after the
routine of business was disposed Of, E. ID.
HoltOn, Vice President fthe Northwestern
Insurance Company, Milwaukee, intro
duced resolution of thanks to President
Grant for his veto of the financial bill. Mr..
HOltOn said he came from the West, which
had been greatly misrepreSented in the mat
ter, and for himself he regarded every dol
lar of the currency as rotten. The follow
ing is the resolution which was adopted
amid upT0arOus applause:
Resolved, that the members of this board
representing more than seventy-five mil
lions of the insurance capital Of the coUn-
try, without respect TO party, desire to ex-
press our satisfaction with the action of the
President of the United States in vetoine
the imitation bill, so called, bill W hich, in
the opinion of this board, puts in peril not
only the welfare of the capital We represent
but threatens ruin and disaster TO the great
commercial and industrial interests of the
country at large. t .--
PennsyIvania LIE gisIature. r
HARRISBURG, April pa resolution
approving tina Presidents veto was offered
by the House but the suspension of the
rules necessary for its consideration was
negatiyed.
B.B. Called Ont.
BOSTON, April 23.-A petition is in cir
culation inviting Gen. Butler to deliver a
lecture on financial questions Monday
evening.
Milwaukee Merchants.
MILWAUKEE, April 25-The Merchants
Association to-day passed the following
resolutions:
Resolved, that the warmeSt thanks of the
Merchants Association of the city of Mil
waukee are hereby rendered to the Resi-
dent for arresting the course of paper
money Initiation by the recent veto, and
that the offices of tie association be instruc-
ed to dispatch, by telegraph, this resolution
Immediately.
The Chamber of Commerce adopted a
resolution almost identical. s.-r
English Views Of the Veto.
Special dispatch to the New York Herald.
LONDON, April 23.-An impression pre-
walls in mOneyed classes, namely, that
President Grants veto of the financial bill
will act we'll on American credit. Promi-
nent bankers, bullion dealers, brokers and
the largest investors applaud the Presidents
action. A correspondent of the Herald at
Paris reports that the veto message is ex-
tremely well received by French Financiers,
bankers and merchants.
LONDON, April "a, A. M.-The Post
saws President Grant has once more saved
his country from great peril. His veto de-
serves full as much applause and gratitude
as his victories at Vicksburg and the VIII
derness. 1t has no doubt that eventually
the West and South will be grateful for
the act. .-..-.--