The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1876-03-10


contraction of the currency TO an
amount exceeding forty millions Of dol
lars in single year; and a consequent
ruin to the industrial and commercial
interests of the. country; and whereas,
The continnsd existence of that law. and
iis enforcement, cannot have other effect
than to enlarge and multiply these evils:
and whereas; there is good reason to be
lieve that the repeal of that law. follow
ed by wise and appropriate legislation
by Congress. would restore prosperity TO
the country. therefore.
1st. Resolved, That we are in favor
of the immediate repeal of the Law of
January IA. 1875 to enforce the resump-
tion of specie payments on the 1st day
of January 1879.
2d. Resolved. That We are opposed
to the system Of National Banks and
demand the repeal Of the Law creating
them, and in place OF their notes. the
substitution of United States Legal
Tender. Treasury Notes.
3d.. Resolved, That we are in favor
of the enactment of Law. declaring
such Treasury Notes receivable by the
Government for all dues including those
upon imports.
4th Resolved, That We are opposed
TO any further contraction of the curren-
cy, and believe that the volume thereof
should be commensurate with the busi-
ness equirements of the country.
5th. Resolved. That provision should
be made by law for the issue Of Bonds
of the United States bearing 8 65 per
cent interest, and inrercnnvertible with
greenback currency, at the option of the
holder.
9th Resolved, That we ask the i'm
mediate repeal Of the law Of 1854 de-
basing and demonetizing silver coin, and
restricting it, as legal tender, to sums
not exceeding FIVE dollars: and the en-
actment Gf Law making the silver dol
lar contain the worth of a gold dollar of
fine silver: making silver coin, equally
with gold and greenbacks. legal ten
der for all sums, whether due to the
Government or the citizen, or from the
Government to the citizen, with the ex-
ceptions contained in the 4th Resolu-
tion above.
9TH. Resolved, That by provision of
said law, the Bond mentioned in 5th
Resolution, viz, the 3.65 convertible
Bond, and the greenback currency be
made alike convertible into silver coin,
or such coin into said Bonds or green
backs, at the option of the holder of
either: and by like provision of law, all
other Bonds of the United States, be
made convertible into greenbacks or
silver coin, at the will of the holder of
such Bonds, and not otherwise
Sth Resolved. That the adoption of
a financial policy snch as is indicated in
the foregoing Resolutions will, in our
opinion. relieve the country from pres
ent, and go far to prevent future embar-
rassment: make the greenback speedily
equal to the gold coin of like denomi-
nation, and the mixed currency of gold,
silver and paper, self regulating. and
not only the best the world ever saw, but
the best that is conceivably possible.
9th. Resolved, That we will not sup
port any man for Congress vino is not
uneqnivocally committed to the support
of the lending features of the financial
policy suggested in these Resolutions.
10Th. Resolved. That cnpy Of these
Resolutions he forwarded to our Sena-
tors and Representative in Congress.
11th. Resolved, That we affirm these
Resolutions without regard to our party
affiliations; not as p4rtisans, or polite
lans, but as citizens of a common conn
try; having common interests; suffering
under common calamity, and seeking
a common remedy.
The 9th, 9TH and Sth Resolutions,
were not reported by the Committee;
but were introduced by Mr.. Binckley,
after the report of the committee was
received, and adopted. His speech in
behalf Of these resolutions was receiv-
ed with marked attention, and the reso-
lutions were adopted almost unanimous
ly.
On motion of DIR. r. B. Woodward,
the Chairman, Mr.. Curran, the Secre-
tary, Mr.. Kagay, and the Chairman of
Committee on Resolutions, Mr. Buckley.
be committee to present the resolutions
to our Senators and Representative in
Congress.
On motion of DIR. Kagay, this meet
ing now adjourn, to meet one week from
this evening, March 14th, for the pur-
pose of organizing in favor Of the policy
and principles of the resolutions this
night adopted. Carried.
Thereupon the meeting adjourned.
J. c. CURRAN, Pres't.