The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-01-07

Refl0uS decline WnlCn Will lueNIthUly lOI
low the passage OF the bill in question.
"ReSOlred, That q copy Of these resolu
tions be telegraphed the clearinghouse
Of Boston, Philadelphia and Baltimore
inviting Banking officers there TO consid
er the same, and, il practicable, to sent
delegates to attend our meeting. Wednes
day next, with view to mutual counse
and concerted action.
"REsofred, That the Presidents OF tht
trust companies, savings banks and lif'
insurance companies in this city be alsC
invited to attend the same meeting, ant
10 participate in the discussion"
The following were appointed as tht
committee, provided by the resolutions
George S. Coe. VIM. Dowd, J. D. Yer
miIye, Moses Taylor, II. +. Vail and c
+. Hunter.
William Dowd, President OF the Bank
Of North America, occupied the Chair n
the meeting, and William A. Camp, Man
ager OF the Clearing House. acted as Sec
retary.
The representatives Of the banks pres
eut were Fry, Of the Bank Of New York
Morrison, Of the Manhattan; Vermilye
Of the Merchants; Thompson, Of the
Merchants Exchange; Tappan, OF tht
Gallatin; Pearsal, Of the Butchers ant
Drovers'i Montague, Of the Seventh
Ward; Coe, Of the American Exchange
Dowd, OF the Bank OF North America
Hunter, OF the Peoble's; Wood ward, oI
the Hanover; Jewett, OF the Irving; Com
stock, ot the Citizens; Harris, Of the
Nassau; Bayless, OF the Market; Smith, ol
the St. Nicholas; Stout, OF the Shoe and
Leather; Pool, Of the Manufacturer; r
c. Calhoun, Of the Fourth National; VIM
Wheelock, Of the Central National; Naz
70, Of the Ninth National; Baker, Of the
Third National; Gordon, of the First
National; and Rochelle, Of the German
American.
PROTEST AGAINST THE BLAND SILVER
BILL.
NEw ORLEANS, January 5.-The fol-
lowing preamble and resolutions were
passed by the New Orleans Clearing
House Association this evening:
WHEREAS, There passed the House oil
Representative OF the Uuited States, on
5, 1877, during the special ses'
zion OF Congress, an act commonly known
AS the Bland Silver Bill, the purpose oi
which act is TO remonelizs silver, which
WAS demOnetized by the act Of Congress
passed February l2, 1873, and to make n
legal tender at its face value Of what is
only at present worth, in the markets oi
the world, ninety 10 ninety.one cents; and,
WHEREAp, 1t seems imminent that this
hill may pass the Senate, and possible
that il may become law OF the land; and,
WHEREAS, Certain newspapers Of the
North have charged, that the South was
favorable TO the passage Of this law; now,
be it
Resolved, By the banks comprising the
Clearing House Association Of New Or
leans, and representing almost entirely
the banking capital Of the largest com.
mercial city OF the South, that we most
unqualifedly deprecate and protest
against the passage Of any law authoriz-
ing the coinage Of silver, except as sub
sidiary coinage, without legal tender val.
ne, or il 70, for very small amount.
Resolved, That We look upon gold as the
recognized standard OF the values Of the
world; that we consider a bimetalliC
standard as not only dangerous, but en-
tireIy impracticable in the face Of the i'm.
mense increase in the production Of sill.
yer, and its consequent 1uctuation in
value, and that for this country to adopt
silver as a monometallic standard, just at
the time when We are feeling the need OF a
more extended and reciprocal commerce
with other nations, would be TO work an
untold injury to almost all our industries,
Resolred, That, II for no other reason,
the bulk OF silver alone makes it entirely
as n medium OF etitcting
exchanges Of value in any considerable
amounts,
Resolped, That the country has been
suffering for sixteen years the evils al.
ways consequent upon an irredeemable
paper currency; that through much tri.
bulation, and mainly by the reduction Of
interest upon the public debt Of the
country, rendered possible only by the
preservation so far inviolate OF the tinan.
cial pledges Of the Government, and
which, in our judgment, is at once the
cheapest and by:far..the most honorable
way Of reducing the burdens OF the peo-
pie, we have reached a point where our
non-interest bearing prom.
ises to pay can be exchanged for gold at
Il discount OF only two and three quarters
Ie. cent. and where the Nation can Dor.
row money al four instead Of six per cent
interest, a saving to the people Of 3St
per cent and encouraging US 10 hope that
at no very distant day gold may be at par
and our country then on soid financial,
ground for the future expectation Of
prosperity, and that at such a time It
would not only be very long step back
wards, but an utterly demoralizing finan.
ciAl experiment to rehabilitAte silver
with legal tender power at all, and far
more 90 at an inflated and fictitious val.
uation Of fully 10 per cent. Common
honesty and public morality alike demand
the prompt payment in full Of all obIigA'
tions, and our government should be the
last to set the example OF afiEing a fcti-
tious value to anything,