New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-12
THE Bland BILL at PHILADELPHIA.
PROMINENT BANKERS AND. MERCHANTS OPPOSING
THE RECONCILIATION OF SILVER.

| PROMINENT BANKERS AND. MERCHANTS OPPOSING
| THE RECONCILIATION OF SILVER.
PHILADELPHIA, Jan. 11.-Th0ugh only one
commemorative OF the bankers merchants OF Philade
phia was able TO be present at the ansiver meeting
held in NewYork on Wednesday last yet II must not be
supposed that public opinion In this city Is any less posi-
tive its denunciaton OF the Bland Silver BILL ana IN
apprehension OF its consequences II passed. than III New"
York have cOnversed with several bankers and prom
| ncut business on this subject John Wanamaker
said that the passage of the bill would be great blow
to Industry which gradually recovering and becOm-
ing healthier; that on the eve OF new era
OF sound business ard that the passage OF the DILL 40 fr
| az business was concerned, would put the whole
| country back five years, or more. He Thought
that the most serious effect OF the installation OF
silver a. legatender would be upon tue
credit of the country nrhe great banking centres OF the
world The proposed change would damage business Dy
damaging values. Men would feel as II they had lost 10
cents every dollar owed them. The present agitation
had arisen out OF personal interests for Instance III the
silver business. The all agitation OF sectional IN
tercsts was over the quickly would therebe gen
era revival Of trade. Mr. Wananaker said that public
sentiment SO far as he had gagged IT, was against all
compromise and and out IN opposition to the Band
| Bill
James G. Caldwell, OF Caldwell & Co., said that the
business of Philadelphia were dead against the
romonctZaton OF silver; that such change or legal
tender would paralyze trade that the Philadelphia
Board OF Trade ut It's meeting last week. unanimously
denounced the Bland silver Bill, and that the merchants
and bankers Of Philadelphia were perfect accord with
the views Of TIE TRIBUNE upon the subject
Edwin " Lewis, president of the Farmers and Nc
clanics Bank snid tina; the presidents of all the Phla
dclphia banks excepting ono Of The smaller ones, had
united in a memorial 10 Congress. urging that the Gov
eminent bonds principal and interest. should he paid
as they atured IN gold that ls expression Of opinion
from the banks coucurred IN by the great majority
| OF business people.
Thomas Cochrane. president Of the Guarantee and
Deposit Company, held that the faith Of the country
demanded that the Bland Bin should not he for
moment considered. much less enacted; that Govern
ment bonds should be paid in gold; that the Nation
could have 10 better ptIl than the preservation Ot
faith in Us contracts, the violation OF which sure
iuure Il does the violation NJ private contract an
| individual. He apprcheudod no serious disturbance
from the institution higher limit 10 the silver circr
ato sa5 MY hundred dollars. Instead Of hve II
tina; would satisfy the apparent pubic clahor Tor re-
monet. cation. ON the o'r hand he Vel unable
divine the benefits when those asking Tor an unlimited
| circulation Of silver expected 10 realize.
Anthony T. DryNei hti1 tle Bahd blll unI tne re,
monciiza'ion 81 silver alike Ia he Ubiquitous He would
not object 20 mit-sh> Of nom ten up TO twentylv
dollars, Tor syrr circulation II slivtr were idde legal
tender gold would 1911 so out OCT OF the country Ihe
fcc coinage section o tie bin was eNcecdugiy mScAiey
ots and must at all haz ards 0c stricken out The prin
cip and interest o! Government bonds mus! DC paid II
W W Frazier IT, and Charles Harrison of the Frank
! i'm sugar Refinery were utterly oplo,e1 10 INC hSu,u
TIE TEIBuNE daily and eoncrrred entirely with It's
/ Yic@-.
ycd making silver tender fol- small amounts but was
utterly oupu.rd the remone tZaon OF silver aud 10
| the payment Of Government bonds IN silver. lie would
have d~bt' Of al Kinds PAID IN sold. ne niedie,ca
| business II the Bland Bf were passed.
Dell Nobitt. president OF the IN exchange was en-
t.sp IN unison with the views OF the bank prisicLts
Charles :. Close. president of the seventh National
Bank the Only bank president who had refused 10
,isn the mcinorial and was proud OF lis position. II.
paid In silver considered the silver dollar OF Ai2i2
grains worth something moro than the gold dollar lie
would pay premium Oh an tac sNtl doiits he c",i
get noll ~. and cOuiidont that business would
| sulrr II silver was not rcinnneiiIed.
-amUri j Reeves esq., Of the PhWnxyi.le Iron Works.
gold was always exported when the balance OF cde IL
against c country. lie would prefer 10 have SILVER and
/ H. thOu2At mat Government bonds should he
/ settled somewhat follows: Congress snail
p,ss a iOnt resolution 10 the chrct inst all bonds
! issued b. the United states ana maze pu'hbe
~ cuin shall d. considered PAYABLE IN gold, PROVIDED
aud 10 IN" extent only tbt ;hc same shall 10 presented
for ppyncEt on the c; o. the secretary Of the Treasury,
ri ,uc times and places aud in sGch amounts he sual
nrnra m public notice. from time To tme uHill TIE
whole amount outstanding shall have ocen called ana
mrut IN accordance with such phbll, hoH'e' ahdii AZ
their maturity c deemed % be pay able IN gold ana 81
into effect hc object OF such ION, rc'l-
Tie issue OF new loan at such times
| ana IN stra amounts a. may DE deemed
oxpelicni plyab.o principal and interest. IN gold and
silver coin. either. at the option OF The United States
Ihc Secretary OF tie treasury shal ne empowered 10
sch the nom time 10 time for gold and slly'r or
either ~ hc may eject ana may apply the proceeds 10
fund 10 BE- used Tor al" as uct ~ such bonds Is nay De
amount OF outstanding bonds the interest on sel out
Standing bonds shall he payable In gold it becomes
due aio that The interest may be- paid IN gold and sl!'
YER or either. the option OF lie United states.
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