The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-04-13

Of an extra. proof of report of the late
meeting of the socalled New York
Chamber Of Commerce, which article
has been suppressed. Nevertheless l
append the gist of it, which reads
thus:
the meeting OF the Chamber OF Com
MERGE on Thursday. February oath, un-
duly magniied by the local press, may
be considered large when compared with
the ordinary sessions of that body. (us-
ually attended by from IA to Is persons,
including officers) inasmuch as about 80
persons were present on this OCCASION.
They were not all tea merchants; nei-
Their were they all advocates OF rulnous
contraction with the expectation OF thus
Immediately resuming specie payments
-sO-called.
Several tea merchants were present.
however, the meeting having been es-
pecially promoted by them, being led by
MIR. A. a. Low, OF whose firm three
members were in attendance. As to the
real motive which prompted Mr. A. A.
Low to get up this meeting of a few
| personal friends we will not pretend to
say. We may merely mention to the un-
IIlIl1ICu tAlL luC UCab u AUC lbs OCCA 80
profitable for II long period, and Mr..
Lows firm now have large stocks on
hand, and then ask attention to the fol-
lowing, submitted by Mr.. Low which
was not adopted, even though he man
aged the meeting SO adroitly:
"Thirteenth-ln the meantime it ap-
pears to be essential to reduce the vol
ume OF legal tenders in one Of two ways
either by funding the excess OF $780,
100000 into tour or four and a half per
| cent. bonds, or by the imposition OF du-
| ty on tea and coffee (under special en-
actment tor this special purpose), paya-
bic in legal tender notes, which shall be
| cancelled when received, the law to con-
tinue in force till AL are destroyed. This
| Chamber would advocate the latter
| method as not increasing the interest
| bearing debt OF the country, or IN any
| way interfering with the financial opera
tons of the government"
Among the notable exceptions to the
| radical s'immediate rcsumptionists
present was Hon. Peter Cooper-the no
| blest among noble men-who uttered
words Of caution, which we give in par,
as follows:
MIR. PRESIDENT AND GENTLEMEN OF THE
| CHAMBER OF COMMERCE.
The policyI would most earnestly
advise, may be thus briefly expressed:
lst, Fund the national debt as early as
practicable into one series, with inter
est at 3.65 per cent. principal and inter
est, payable in legal money OF the Uhitee
| States.
I'd, Withdraw the national bank notes
Congress making the legal tenders the
only paper currency.
3rd, Collect all incomes OF the Govern
ment in legal tender notes and pay al
debts, not otherwise promised, in the
same currency.
| This funding of the national debt woult
make it a grand receptacle of the peo
pies savings. and emancipate them from
the frauds Of private corporations ant
i the panics incident TO the present bank
ing system. The funding Of our nation
al debt will thus be made bond Of ma
tional union.
| France, with her 100000, 900 of lega
paper. has kept her industries profi,abl,
employed by keeping her paper re
ceivable for all forms OF taxes. duties ant
debts.
: Nothing can be more sure than tn,
fact that our national debt can never b,
paid by u policy that entorces idlenes!
on millions of the American people.
Something must be done to revive tn
: paralyzed trade and commerce OF tn,
country.
This is indispensable. if we ever ex
pect again to enjoy a healthtul prosper
itv as people We must not ALLOW
ourselves to be led by men or nation
, who have direct interest to mislead o
deceive us.
We must remember that all trade wit
foreign nations is kind OF commercis
war. 1t is q war OF interests. All ar
: trying to buy as cheap and sell as dea
as they can. This they are doing b
the use of all the arts that human ingenu
ity can devise. Our people have q rigt
to demand from the government con
tinued use OF the legal tenders that the
: were compelled to take in exchange TO
all forms of their property and labor. q
the only visible means to save the rs
G tons life.
Is it possible to conceive Of create
impudence than the above propositio
, of Mellow Nay. does it not require g,
I traordinary Intellectual power to full
: conceive of the unparalleled impudene
requisite to make such An outrageor
i proposition?
) The analysis of the propulsive anim,
I is thus:
d Mr.. Low has an Immense stock of te:
I il store imported free OF duty.
Mr.. Low is DESTROYS of = tariff on I,
Z ture importations that his competits
! may pay double for their. teas, that b
o cost him.
d Mr.. Low considering himself as Dor
i booted and spurred. IS DESTROYS by de
d troying the peoples money, to ada
n their backs to the saddle that he au
: his fellow bullionists NAV ride.
IL John LePeau OF Boston said that
Z .could eat catterpillars. but squash bu!
IS were little too tat
,f So with the New York Chamber
Commerce.