New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-02-24
OuTsPoKEN FOR HARD MONEY.
RESOLUTIONS TO RE SUBMITTED 10 TIE CHAMBER
or COMMERCE BY A. low TO-DAY.
Al n epccial meeting of the Chamber of Com

RESOLUTIONS TO RE SUBMITTED 10 IIIE CHAMBER
| or COMMERCE BY A.. LOW TO-DAY.
At n special meeting of the Chamber OF Com
merce be held this afternoon the following resolutions
ON the National finances Will be offered 10y A. A Low:
Resolr,d That 10 becomes this Chamber the present
time 10 rritefc ia inth ~ ~omc declare It's be
lief IN other, Il the following propositions VIZ:
alike ndstblc To the Reinstatement Of our financial
AFFAIRS upon SAFE and endu ing basis; Ia the restoration
of confidence every branch o industry ana 10 renewed
success in all the pursuits Of commerce
Secoad For the attainment az thl- end, two things
OF congress aud HE people abide by II SO,
and the requisite ability ON the part of the Government
To redeem @ leal"ndcr hotes III coin at The tme ap
p,intel IN said law.
Ihird: This ability must be acquired in one Of two
prior 10 Jan 1879, by material decrease In the
~ the volume OF United States notes IA circu
fourth: In 1862, the country accepted the legal
tender" note device to meet the nerOTabT nrcer-
Of and not as the coined money authorized 10y
Fih: Congress has not fulfilled it, pledge, first TO
fund and then Ia redeem It's authorized issues oil
ccIyrd Ia meet cXgeDccs ~ great war, and 10
all the requirements OF widcyc1tcnded commerce
Sercnm In order To a successful working Of tba sys
tenn, issues Of onr National banAs WIZ continue !" br
as hitherto they have hlcn rclcedbc IN legal tenders
and the latter after Jan ], 1879, viii be- rcueeabe IN
sn,i, ,t the ruilcl rtatrs Treasury.
Ithh' wIensyrr tne TniIed srates Treasury IA
ena6ed redeem ts notes I'm conit Will sustain similar
relation To- the banking Institutions country
that winch the Bank OF England bear. Ia the other banks
f TREAT Brnin bnt with important difference, viz
tni- Bank has the power Ia check dlAiu upon It's
Golfers by raising the rate Ot interest. The banks
should required 10 hold IA THE aggregate and IN Just
proport ION n their respective liabilities from onehaf 10
two birds Of an tbc legal tender notes issued ut my
time by TIE Treasury Department. Authority
saOud be gwen the banks to cburge such rate oi inter
per Viii enable them to retain tc
contemplated ir-erN e."
N,nM Nothilg can possibly be gained by deferring
"A Later period than that liked by Law the rodrmp
t0n with cin, Of its lcgnltendcr noes by the Treas
ienh: Under such circumstances every attempt To
hoan ,oid ~ the Treasury, or In the oarde 10y dram
ing marhc, of ts sraDly supply, VIII serve Ia enhance
tnc psice. aud, by diminishing impOrtisiuns cufta tno
receipts uf tue CJsiDm-IiOuse
Eicrrih: In like manner the natural erect of any
the tam wnicn tcuds 10 swell oiI Inpiiton
Will be To- accrcIat" our export m earn, unless the m
tended effect h. nrutrallrd Ia abe other ctsc 10y an
advance la iue premium or gJld, thus anOrdlnS ifocc
ttpu Doe another FORM.
T,TlL: rs a timely exercise ~ the power conferred
by L.s Law Congress for resumption "a e ic
pyneit- the lat ~ January, lSIJ the secretary OF
80 Ifrasury may Jurt" sufficient amount ,pf bonds
s0td ~ all OulSta ding demands Tor exchange, to
cuf.x Duf1DW ~ specie, aud ~ ieeupcfHir tLc
nDna fund bY temporary retention At home oil tue
ah1lc pfuduri Of our niincH
1hJTHls ln n Hrnn unr N apo - 10 DE essential
volume ~ legal tenders Ia one 81 two
either by funding the cKuhs at tOODpOOVo iutO OF
% per cent bond by tho imposition 81 duiy on tea
and coffee tnndrr sperai enactment FOR tiis special
urpOHel, able in cgil-tcndrr nOfrr which snail Lee
Cancelled Hnrn received, Tho Jaw 10 continue In force I'LL
all destroyed. 1he Chamber would advocate Ia"
latter met .Od,
fourteenth with the resumption ~ specie payments
and restoration Of confidence home, nHport f0T
being returned by steamer viii bo
held with Unprecedented l'n.clty.