, 1877-09-14
Paper on the Finance Question by th'
Hon. William S. Grotsbeck.
lie Fnvors tho RECOMMENDATION OF
tic Silver Dollar.
And Declares There Cannot Be Too Mrol
Gold and Silver,
prof. Perry, Of Williams College, 0p'
poses n Double Standard.
Resolutions Adopted Suggetling Aeaas 10 Bring
lbout Resumption.

NEw yonK, Sept. t2-Thc American bank
ers' Convention continued is session h,-faay
witt. very full attendance, Charles +. Halt, Of
l]ostDn, pru.ittIn9.
F. q. vai,lxrlf,lrst offered q resolution setting
forth that the Convention pledge Itself t., aid
the Government In rcsi.ihmg payments, but tint
II was nat advisable for their ts,ly to put forth
auy plan far resumption. as tho Secretary nf the
Treasury must hare already n,atnrctl tbs ptnn of
astion Tint a Committee t,c appointed to con-
fer with the Secretary Of tho Treasury and use
every Influence to bring about resumption IN
1s73: nrsl TINT the tax now levied on banks Is
onctou4 mud Should bc repealed.
Tl,csc resolutions, under the rule, wero re-
fcrrctl tn tte Executive Council.
n H"Tn.s @ r sG 11e.ek res X 6 Il ci"ss, m
psun,tncnt Denlocratl made tbs following af-
drcsss
The people Of the United States bavo iaxen up
tito question Of money to give to It carcfnl con-
tnrnt until 1h74 gold and silver were equally un-
!;'n.sca 'e.a!.ten!er sas tse pas"ent 81 ss dcstS
;.' is;i .iver ei's a. cm"siixed .nd ro aions VS.
pnt ~ tue place psrvinaslY oscnpied By the two
metals Ii Il unnecessary to Inquiry how thts vas
palIcnt, and carpfnl confederation. Such cnnsM-
csation the subject IL now to reeelvc. Shall this
neW 'iley asnha pF "a. n ou ~ IT, n
eaan ~, ,aonIhn,drr ~ trcH,tnrsnr
del.tor. OF fs any stns3r ela.s but iot the eaual
hsns q! ,s H. .r2 ots havc ccn sr,,cn ~ nuon
The tahicct Of uluncy. and i would bo absurd TO
. .u .i,,e. th.." cct. n Il whirn an
~ a,"c3a, fnt"rr,t NJ ib nrstsnt time. and ali
pre.,o<e to say ma! bs presented nndos two ~;
1a...t stcr''cr M T. + hsttr, ~ n.a
both than either onci :. Ii tl,cro anything IN tho
wn!eh staa 10 takch 'hto eo'e'ie'a'''a III "eea'
,ar1 run '''o pea'"a''s " o1' eo"A ~
Aof' .-,, .,., s,,r.,,
were tul, 1eg" lender ior sii deii:. national and
c1Eericnee ana f:!r ts!a.: mud waat ~crs % IL & r.,
about evshly tp1etheT, ana tnelf nactastiGna "ere
to,baee hspened ,bat tic relation !" eash 5
alf1yfcnt ftom that Which prevailed among ths & ia.
ons o. Europe, and We Mer y9uns ana Ut Ut
and well advanced in theirs. .hcIf relation va.
nts ~ R .Hnh n r.,ns 'pc Ell hi "na a
n 4 ws nn n"s . so r sln III ~ 10
here; but our s!iycr Remained. and answered
1:t fo'1e'st se BE-: see a'a sises isa
Sh tsy .d 3 ana therefore u sis ~: bat os
:
Wstl ana t!e anme =. tau ~. nsrn na
s,,s, wsm put ~ ar rhs ~ u s.nn saes o
exesanas e,'s. @ or theit III u causaos IN
nserchnnaise. ua3 sonannn "oa ~. ~ nase na,a pSgn
IN the lesst octtef ~ We M ~ w.. nsca & nns nnX1o |a
meN!; wae!sas, aavlhG the two, "neheset M W. VI.
inana eama from aotoA 1os otae5 oe' w nau a.n a.
fsom ts aansos 81 H.. +, ~ fnonen ~ - ~ s
iva" IVA metnis seryca CO. ~ for ali our transaetons
abto. quite q well :. wq oud are besn ss.ys9
s s
wo bud made lsth notAl: : !esnl-tsndtT: and
Ssf ssss @ e.eo, 7 " ss. sS ;ts s1t @
complaint Or sought ehangci not laborcr.
tatnes 9. .neeban!e VA. d..at:asa IT., ssh w.
money: and thu nation was In condition Of ah;
souto sc.t snL ecaaicseence tn IT, long. tried
policy In ls71 ana ls34: ! bs'Ists without ,at,n
IIonrds Of Trade, or chatnbs1 Of Commerce, Of
from anv o!scr lfccton. md wl.cn. fof tho drst
bnraeusonc. % zoo d and rrs.ta indchtednss* wss larger
pcnsson ,ron euffoney ,atnounting y more than
will ll'o knowledxe shat We wsre fishef u nines
Of sil.sr than any nation or tho slobs; ~ tstex
Wv ouf 81 &c sondions III so'a a'os
time. more trying than any. wG had before
exnerenced, and cf thu financial haraships gather.
|
Of our nlnluAt rcxourccs waa most extraordinary
that VIC should throw anY OF them 0whr. Int lAtI
| IL our now, md as yot unitiul, policy. Three
causus Aru urged In tts justiacat!on-ono. the ex.
cea*ya production Of silver; another. the demons
tizastOn Of etvaf In EufOpu: md the third. DE-
| creased demand for 1t In Asin. -.
Tho following tahle show. tho total production o.
Tho p!eeions ulctals for Tho world aud for tht
| United States.
| Worlds production Of gold from 1852 to
Ix7S, IuclusIss. >. DIS Oon OK
| WAfd's gFoductioa Ut stlVce fsoM l8a3 ~
1*.S, ias,ass e. ,.t '...'"' -
yssEy .vSrsx, ~ ~ axst 41S;t ~
| i,miiel statcs nr,k,ciion Inn, i'll; 10
Is3, incisIre. Of xoid. i.s23 7a "a
United bt.tes production szotu ls45 to
1s7a ltsaaa!Fc % .itset,. ..'t".'''".." - mA @s
asy sssxs rssx VI " 4 x s*J:.'"'''.''''' -, sss
'tstn ,a ~. ~ 'tss. '.s..:...:''': ~"
"oI.a noi ~ MshHnoe1tooa. ! Maxe ao Hh
| opnh ensa. ~. iasof y. ! an Pleea'hg tGf tase
an"; lno st4pntaes hefe Riscn afe q hlfn ~
taotsy ana oal!ss9 ta1Y sfc snn1ctehti{ felia1ie
WY Do o~esea lnat A1ss ~. otogf9t M Pan1c
a'at inl9siiy si ~ 70 tnn year to.n. nnas does ~
century tnnn Iat ntse:ose ~ 70 sae 1tsate psoanc
t'on u Ae w. Msts' ~ tnc nes'nh.nR haa g Saf
!hs ,,rnrtion rn Y ,r1 w. ~ .iis., ~ ~. ~ et
THIS Mada 10 dastut!anee+ At ths middle OF tht
| ASu""sff ~ -. sos'.s NV Is"toihtoh A". 1&1t
ftEhcus &Ha lA8 ptN4AEtt"h NRA - Ut kplu s
w. lu1 VI slIFefs tsutn 1bT 10 lH14 u WA !. Of
gp1 to s3-1to OF silver, p$4FIf four ftmeA mNcl