The New York herald., 1878-01-10
ut present A largo amount of silver might be used
In this manner

ut present large amount OF silver might be use'
| In this manner.
| Mr. H. I. Hogvet said:-
| have nothing TO add to what have heard al
ready except thai my individual opinion Is that sil
yer should not be admitted as legal tender In any
amount. believe that the better way TO servo the
purposes alluded TO by Mr.. Townsend OF change IN
minor transactions Is to leave that 10 the
tree will OF the people aud to the institutions
dealing in money. ] believe that small amount
1 will be received on deposit by the banks
WI" ss S 10 tor the
OF an article of merchandise TO the qualification
Of money there is NO reason why we should not 20
on little by little and little and get 10 where our pro-
eeniiors In metallic currency began-namely tho
point Of requiring trucks for the loading Of sufficient
WITH which TO 70 to market.
Mr.. Y. s. Winston said:
concur entirely with the PRINCIPLES set forth in
the resolutions which have been presented at and
adopted by TINS meeting, and also In ins wisdom Of
the recon ndations which closed the report aud
which are embodied in 1t.
A. 4. LOWS REMARKs
Mr.. A. A. Low said -
l am with you this afternoon through the courtesy
meo, Mr. Coe, and have listened with great interest
TO the report that he has made through the Clearing
House Association. Alter the statement OF the wrong
that would be Inflicted upon every interest In tns
country and the wrong that would be inflicted upon
tho honor or tho country by the passage oil such bill
as that now pending in the United States Senate It
would seem 10 impossible that Senators and Repre-
sentatvcs could reconcile II with tho oath they nave
taken to The constitution OF tho country 10 vote
for such bill II has seemed TO Inc that the pro-
visions Of tho constitution comforting powers upon
Congress Indicate most clearly what is the duty Of
members oil Congress at such juncture as this such
duty - very clearly defined in n lew words-.to coin
money and regulate the value thereof and OF foreign
coins, and hx the standard OF weights and measures"
Those three duties are put upon Congress that
nothing whatever infrinycs upon the duties dcvolvcd
them. Now" how can nv Il be- poss,pIe for up0a
member OF Congress, in tho exercise oil The power
ieGrea TO- 10 regulate ae value o,y o. money in the
stead OF regulating II r' How II can be cannot
dcrstand but III WOW OF tho fact hat such bill has
passed the House OF Representatives,, and is
pending In the Senate OF the United States II clearly
"a duty devoving upon every American citizen who is
Jealous OF the honor OF his country and interested
In It's welfare TO do what he to
ward of the threatened dishonor, to prevent
ITS becoming realized fact That duty
Is well referred 10 IN the report which has been
ceived by the Clearing House Association this ALTER
noon-the duty OF demonstrating against such
outrage. II seems TO me that tho FIRST duty OF the
representatives of every institution OF the class rcp
resented here, and ohe first duty o every American
cltzen woo has Ine nonor OF MS country at hear 70
demonstrate against the great wrong that Is threat
encd Tor there can be two opinions In the minds
of Intelligent men US TO the nature ana meaning
OF the oil! that Is pending In Congress. II
proposed, deliberately and designcdy, 10 do
great to every important financial interest In
the country. When some OF the gentlemen present
wero III Washington few weeks ago they were told
BY the autho OF his bill that had better accept
or the men In the West would send to Washington
representatives who would wipe out, with
sponge, the whole national debt. When such dec
laralious are mado ueiore the Finance Committee of
OI Lne sIeat VI Ouitcu
1t time or every demonstrate aud not to sit
quietly and SEQ such laws enacted
THE LETTERS.
Tho following letters then read-
NATIONAL UNION BANK OF MARYLAsp.l
BALrrMoRE. Jan. Z, 1873 !
WILLIAM A. CAMP. Esq. secretary:-
The telegram addressed by You TO the chairman of
0sns an a1. e. o. the
day last in TO the pending coin bill considered
by meeting OF our bank presidents this morning
approval the proceedings
you) Representative OF Clearing House
to unite in your proceedings appointed for Wednesday
WILLIAM W. TAYLOR.
Secretary Baltimore Uleariug Ilouse Association
PHILADELPHIA. an. &. 1873
WILLIAM DowD, Chairman Meeting New York Bank or
DmAR srR-Yorr communication per telegraph was duly
received the 9th Inst. laid before Clearing
House Association ut their annual held
The meeting in lu sympathy with in hostility
bil
the subject referred to the Clearing House
Committee for such action they might deem best The
Clearing House COMMITTEES beg that Monday, Tues
and ednesday this the busiest days
Of the year, a the banks and most o. the PROMINENT
poations OF the city holding their annual meetings und
elections OF directors one OF those days This will
of our bank officers from being present
meeting tomorrow, 9th inst who would like to be with
Please ADVISE tho rssul. OF the your
ing OF tomorrow. will give it prompt
attention will confer with you personally
early US you may desire US to do so. Very trpy yours
Chairman Committee Clearing III Iouse Association.
Mr.. Stephen Tappen then moved that the report be
adopted and that IL be printed In pamphlet form and
copies 10 all the clearing houses OF the United
States and to other prominent financial institutions.
The motion was carried with loud applause.
Afterward the following committee, US provided In
tho report was appointed:-Mossrs George s. Coo, G.
N. Fry, W. l.. Jenkins J. d. vermye ana I. d. Tap.
pen. The meeting then adjourned.