Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-09-30

he Will set forth as strongly as ne possibly can,
the depressed and suffering condition of the
business and commerce of the nation, and will
direct attention to the necessity Of taking
measures to establish the currency on sound
basis by preparing for resumption under the
existing law in 1879, to which he will say we
alone can look for restoration of confidence
and credit and revival of trade.
He will enlarge upon the necessity of in
creasing the national revenues as prelimina.
ry to resumption: He will to that end recon-
mend the restoration Of the duty on tea and
coffee, by the abolition of which the govern
ment has lost some s20,O0O,000 to $25, ,000,-
900 year without any benefit to the consum-
er, the taxation Of all articles of foreign man
ufacture, and probably the abolition of the
entire free list. u.... ...o
In addition the President will probably sug-
gest such an amendment of the legal-tender
act as will require the payment of all internal
revenue dues in gold, as further provision
for resumption. The President will make it
clear in his message to Congress that he in
tends to practically carry out the duty impos-
ed upon the Government by the resumption
act, by proceeding to contract the present
greenback issue to the limit allowed by the
law. Upon this point more than any other,
he relies for the support of the moneyed in.
terests of the country in the Republican pres
idential convention.
The Currency Question in New York.
"A grand mass meeting of the working
men of New York city was held at Cooper
Institute last Thursday night, at which there
were present on the platform number of
the capitalists Of the-city, among them the
wealthy philanthropist, Peter Cooper. Let
ters were read from Wendell Phillips, Gen.
Butler, Hon. w. D. Kelley and others. The
meeting was presided over by Hon. Richard
schell and the following resolutions were
adopted
Resolved, That the contraction of the cur
rency heretofore made, and the further con-
traction proposed, with view to the forced
resumption of specie payments, has already
brought disaster to the business Of the coun-
try and threatens general bankruptcy. We
demand that this policy be abandoned, and
that the volume of currency be made and
kept equal to the wants Of trade, leaving the
restoration Of legal tenders to par with gold
to be brought about by promoting the indus
tries of the people, and not by destroying
them, and that We favor the payment of al
least half of the customs in legal tenders.
.Resolued, That We demand the abolition of
the present national banks, and the establish
ment instead of system Of free banks Of
discount and deposit, under such regulations
as the States may respectively prescribe, and
no paper currency except such as may be is.
sued directly by and upon the faith of the
General Government.
Resolued, That we send cheer and sympa-
thy to the great Democratic party Of the
West, and that we hail their success as the
triumph of the people over monopoly, which
threatens the safety of the country.
Resolved, That we recommend that the
electors throughout the State of New York
assemble in their various districts and form
legal.tender clubs, in conformity with the
resolutions adopted by this meeting, to give
strength to the great Democratic party in
Ohio and Pennsylvania in the approaching
canvass.
RESOLVED, That the policy already initiated,
of abolishing legal.tenders, and giving the
national hanks power to furnish all the cur
rency, will increase power already dan
gerous monopoly, and the enormous burdens
now expressing the people; and that we op'
pose this policy, and demand that all the ma.
tional hank circulation be promptly and per-
manently retired, and legal-tenders issued in
their place.
Resolved, That the public interest demands
that the government should cease to distrust
its own currency, and should make its legal.
tenders receivable for all public dues, except
where respect for the obligations of contracts
requires:
The chairman stated that this was the first
of series of mass meetings to be held under
the auspices of the Legal.tender Club, and
the meeting adjourned. The audience was
mostly composed of laboring men, and filled
the immense hall.