New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-09-06
TIE GENERAL SESSION


Science Association to-day, Mr. Gamael Bradford pre-
sided. Mr.. + b. sanborn the Secretary, read report.
and papers read by Prof Stanley Jcvons OF Eng
land, and +. Nourse OF Boston the silver question:
Samuel T. Ruggcs OF NewYork. addressed the associa
ton strongly in opposition double standard % silver
and gold he favored gold exclusively. George A. Pot
ter, OF NewYork criticised Prof. Jevons's paper lie
thought gold aud silver both good, and that they
should be used together, aud that simple
standard OF gold, silver and paper would
be better. France had used both gold and silver
to advantage Gold and silver are the works Of the Al
mighty. aud should he used together. DIR. T. v Wight
OF Washington, spoke favor OF silver standard tic
thought that n Congress would reiusta1 the silver
standard, II would stop fluctuations. Pro-, OtorDury
OF Princeton spoke against a double stan iari
The department OF Jurisprudence met with Judge
Bliss Of Missouri, IN the chair Prof W r. Wells Of Mich.
iean University read paper the work Of American
law schools and its hndrance Prof Pomeroy % R0chcs-
ter University spoke in favor or the law schools. David
Dudley Field thought the law schools indspensa-
bic lie would have three years course IN school. fol-
lowed by ono year In lawyers Office. Prot Hunt OF
NewO'leans spoke on the side of the question.
John f. Townsend. % Ncw-York. read bis paper on
savings banks At the afternoon Of inc nam De-
partmeut OF the ASSOCIATION. following IL with some re-
marks. No debate cnsued. lie criticised sharply the
conduct of Managers Of savings banks In building cx-
uayagant offices, and In paying large salaries.
THE PROSPECTS or RESUMPTION
on "Tle Prospect OF Resumption" IN watch De took
ground the effect that there ought 10 be- change in
the % doing public business. lie claimed that
the Executive Department ought 10 have policy, sad be
allowed to carry t out The following IS abstract Of
che paper:
Nearly three-four,hs Of tho Interval allowed for tho
operation OF the Resumption Act have elapsed.
worth while 10 take Of progress Obviously tho
first requisite TO specie payments is that gold should bo
AZ par IN grconback Without discussing causes IL l. IN
I y. Do
AT Il II aud 49, has reached l0i. whether the al.
scuco NJ POSITIVE measures, The remaining premium Will
bc overcome the next year, and the price il par
depends upon considerations which u is ~ course ahs0
utey impossible 10 predict But even n tlat desirable
con uunaiion is reached 10 will be- only the lrst step.
what definite action can be taken 10 aid o. securing
pear Ia be worth dscus,ion,-cher an increase tho
/ stock Of gold. a decrease iu the stock Of paper.
Under the former head think shall moi Dee charged
with cxagceauOn in placing the amount necessary 40
slOOOOOOGO, exclusive ofimmediate Liabilities. This
! extra amount ot F-opgJpoO eau ice procured only m
two ways-c ther by draw Ing from Eui0p, ch. c
INK It's export thner. and o. make The latter method
effective "Oud require prtiou OF several years. Vow,
II not probable, % - certainly possible that
] abroad, aud boarding in the Tre. sury moht
| result in considerable advance Of tbe premium and
AT Would there be- any c nee Of adherence to definite
policy dlsrryrding temporary effects Tor clearly de-
fearing effect Of the elections. would compel tac Sec
Rotary 10 sell what lie had boarded even If that Official
ala not himself get frightened. thus again forcing
in' T, rS9 Csc me- NET rrsnlT would he another
disastrous huctu4uOB, fresh eXtsp ration OF mo
Uub'ic mind ana An increased disposition 10 panlc
~, enc ,tber starn,tiye the reduction of pauer Tho
general discussion seems 70 have passed away tho
necessity of its connection with specie payments, and 10
Turn mainly upon the possibility or expedieucy % con-
traction No doubt II perscyered 10, the 90 icy Of
traction would Ultimately be successful bar ~ would fl,
inst like mat of boarding gold fortle want Of dcpitc
end clearly Kept in view. II contraction should produce
strrgencysnd eyenif 10 is not probable &c j. certainly
p,,ble-Cougrcss. !tuXlous about the elections would
inta lioy stop even they anu not order fresh Issues
BTt sin greater question lies in the background
The whole future system OF currency for ne country has
10 be adjusted Since the United states bank. we-haye
never had national currency uhlll Tue present legal
ten lors were issued Are We TO have grenbacAs.
National bank notes. or state bank nousl Now, some
or any contraction OF notes there necessity Of calm
fbere must be more-ihcre must be a ruling III
tellgence at the head ~ Affairs. There must ia
ebef of GuAnce. the Secretary OF the Treasury.
Mat is the course pursued by other civilized nation,
conducted with or less Of success Congressman
shrk responsibility, and our secretary Of ne Treasury
should aud must have seat In C0ugre.s-Of course.
without yocand bc open To question from both sides
OF the House In place OF q cssoso 81 lropg-as' hF2Mh
leaving Congress lille and the country gunfuni, Win
, cnort rushed through M the end of the session
without scussou, ana regardless Of hc wishes " tho
| Execuuye-nstead OF this. II would De the duty
| Ia prepare u definite scheme for tne conduct Of tho
finances for the ensuing year. Discussion would then
turn upon that, and nothing else i!Woud De- public IN
stead ~ secret; the responsible SECRETARY would take
part in it, and there would be fnai decision either TODD
something or nothing, so ttt tnf country MOud NOW
what 90 depend upon Observe larthe that during The
rccoss the would fce that his
would be open To the criticism OF hosue minority ANA
that in the way OF individual question which could not
It's perfectly easy to raise objections Of dcian drawn
from English experience. and might take them up aud
answer them, by one. But 10 wait tor action tl all
these settled 1, hke refusing 10 INTO water TN ono
has learned To i'm The grand point s "a gei the See.
rotary into Congress aud the details can then be- settled
as they arise. H. after iu trial the plan cannot be
made wOrG 10 eau be abandoned, aud the oil method
re stored. have no fears however II the country once
ges A taste OF the experiment, OF any such result
great difficulty there certainly Is 10 be overcome. There
could be taken Of the House Repres natives
this fall But that vote viii certainly not be gwen I.
ss sh n nj, n h. forced Members do NOT want 10 be
tried BY public debate, or 20 be forced Ia take definite
and individual position the currency indeed.
av Other one.fion Tney owe their seat. 10 caucus
denominations 10 the use OF Offices personal popu.
orty az home. work for wnch they better ntted and
which much more 10 their taste They Jealous Of
rue secretary OF the Treasury should have the real as
well M tne nominal ,conduc of tue finances and be- en-
titled To have policy. % defend II publicly and 10 be
responsible Tor II and the Executive, which has nights
on which il Is carry out. and u actual Cougesinsn
will concede that night. men should BE- sen, 10 Con-
sress who Wall.
Discussion was opened by Mr.. Ensey OF Tennessee.
who spoke OF money and It's connection With the welfare
OF the people We had stable currency. De said;
II always fuctuaed with the laws Of supply and demand
Money Is fixed standard than any other CON-
modify He advocated greenbacks.
In the department " prudence Prof Hunt OF lou.
isana three interesting letters written in 1921 and
1922, By Chancellor Kent 10 Edward Livingston.
with reference TO the civil aud criminal code prepared by
the for the State Of louisiana The letters have
never been published
LOCAL TAXATION.
A. the evening session William Mnot. lr OF Boston,
read paper Local Taxation" in which ne analyred
the system In force In this country and showed it,
weak points and how IL could be improved. The lead.
ING points % this able paper were As follows:
The and only end Of taxation Is q secure AZ the
least cost that protection 20 lite, liberty and property