New-York tribune., 1878-01-07
THE BANKS AROUSED.
TRYING TO AVERT 4 SILVER DEIuGE.

rwFNTY-SEVEN NEw-YORK BANKS IN CONSULTATION
"A PLAN TO BE SUBMITTED wEDNEsDAY-CALt-
ING OK HE BANKS OF OTHER CITES TO UNITE
II TITS MATIER--TIIE VOICE OF NEW-ORI-EANs
AGAINST DISHONESTY.
The presidents Of twenty-sevcn OF the prlhcipai
New-YoIk banks ON Saturday adopted resolu-
tions declaring the need of acton oproiect financial
interests account of expected SILVER beiS''-
ton. committee of five will report
plan Wednesday. The trust companies, SAVINGS
banks and life insurance companies have been III
vited TO take part and the banks of Boston, Phla-
dclph,a and Baltimore have been asked to act Ill
unison with the New-YOrk institutions The Cleai-
ing House Association Of New Orleans, Oh SaturdaJ'
passed resolutions strongly opposing the bianu OH
yer Bill, and favoring a single metallic STANDARD
RESULTS OF THE NEW-YORk MEETING
NrpD OF ACTION URGHD-A COMMITTEE TO RECON-
,pxn PRACTICAL sTEPs-ALL THE LEADING
FINANCIAL. INSTITUTIONS INVITED TO TAKE
PART.
The meeting of bank officers which was held
On Saturday at The Clearing House I'm this city, 10 con
slider ha action IL any, should be taken in view OF the
law making silver dollars of 412ls grains each the OASIS
of an business in the United States, after IT'S passage
was attended by Representatives from twen'y-Se'eh
banks as follows:
Charles NJ Fry, president Of the Bank OF New-19rh
william L. Jenkins. president OF the Bank OF Aiherc
J. ID. Verniyc. president on the Mclyhahiis N,t,ii
Bank p NJ Bryson' president OF the fhtIF h Wc
Bank; BENJAMIN 4 Sherman prgsfc@' gen GIel6cui 0I S oi
chan.cs National Bank George =, 'oT D.
TaprcU, president OF The Gal!atm Natlo4al LAM
Nrrchants' Exchange; Denton Pcar;all, Hucheis ana
Irovcis'; Gcore, Montague. seHeIih Ward; William
Proplcs: James r. Woodward, Hanover; John l." Jew
elt Irving; = Il. Comst0ck Citizcue lIG4cs ". Aai-
Ncl0,s; l. Y. stout, sho" aud Leather; joseph rool'
Aiauufdctur, - and Merchants (cAEe T. ib4keI Lu'
houn Fourth National; ii. II. Nazo, Ninth National;
Hai Sili -, NirEoas f. Palmer LeaGcr Manufacturers
These gentlemen control twOiHFis of the banking
capital OF Eev-Ycrk The meelits was brief and no
speech,s Of importance were made. Wiml DoWd'
prcsldcrf O.! the Bank Of North America presided ana
William A. Camp. manager Of the CLEARING House 'ceu
rs secretary. The following resolutions were Gnahl-
mously adopted:
Resslr-d mat in view OF the bill now under cohsidcga-
t0n i'm .icss whcl proposes, in eject to super oe
the existing laW rclLLi'S yhv IL. w. ,,,r,, 1,
notes III gold CON on ana i.St t4c lsot ti s,;
h, maj g silver dollars OF 4l2i2 grains te icS'i S"
AID fn tc pgvlncat of al debts and tie measure e com
Intlig orcfalsas in the United States IS tne duty of
bank cic, 20 seriously inquire wat ehtet 80 lmIi
a ch lgr in the circulating medium WEI have upon we
ec,tCt - neral business ana uPpE 'ne ttSec;N]n - ~
stuuuous uuucr tAor CiaI.c ana Nh1t P'.clcaI u'u-
tIsis from serious decline which vii inevitably ioNoW
tn. passage of the bill ~ question.
Rts0ir,d, That the subject be roier-td 10 commec
OF five bank officers, chairman Of III" lntethg behs
one o. them, sha recommend suitable actl D, ana
al.
adjourned meeting 70 he hcd On Nodhesd"y Next 'h'
d. Thgt COPY Of these resolutions be mredi
atcy tcic-rapAcd to The clearing houses OF Boston
Piiadep.ha and Baltimore inyiting pank oineerS l4eic
10 cousd,r :he same, and practicable, 10 Aend dc-
SSie1T so n,uran counsel and concerted action.
Besoly~I mat the presidents Of trust companies sa'-
aso inycd to attend the same meeting ana 10 lrc.-
pGge II the discussion
The committee Oi banker referred t. in the resolutions
which subsequently, appointed, consists % George :
Coe, William Dowd j. D. Vcrailye, MoScs Taylor H. T.
Vail and C. T. Hunter. The members OF the comintiec
held Ilorma meeting Saturday afternoon, and al
iourned 70 again to-day. wben it is expected ey
viii aree to plan o. action b- submitted to tae all
iouIDed meeting on Wednesday.
One OF Tire committee anG the 81 lc,d
Ing hank aid Yesterday that there 10 reason why
tic banks seventeen leading ciuos Of the country
should not mite upon the silver question and decide a.
10 The character of The loans hearaer TO be made. The
action Of the Orleans Clearing House Which, il ap
peared, was taken while the meeting was N SESSION IN
this CITY showed that there WAS nothing local
in the movement, and that similar action might
reasonably be cSpec.ed at all business centres
OF tie country, if the bank ONeals o. this
city wo;ld DO their duty. The meeting Saturday he
said was purely preliminary, AM called by = few
officials after bei consultation FRIDAY, with an in
tcnon 10 sound the Glaru and 10 appeal 10 the
banks, Tie trust and insurance companies and
other financial institutions to consider what
should lc done in the present emergency
The members Of Tie committee that voIid pc
paie the Icrort 10 be submitted Oh Wednesday,
ycr. lie p. III. entirely sound the currency question
ana they would not content themselves Win mere pro-
test aeair; the proposed ic9lstiion @ '"nEits- on
siyrr Jt-Y would Undoubtedly subndt so!uc uraotr;
plan %, winch the great uirics!S thM would "e raHlc
scented duesdt meeting ul-Ai protect Themselves
from tAc evils which Threatened them.
When asked u the committee would recommend send
t5ac.cat the Band bin, tins gentleman said tha, t.a
rot hi, wisl and hc dd not necyr tn9t h's a--.cil~
-'t.f u 50 A g f.t ttI
carefully prepared plan OI OperJlioi Dr. ssI, $50 to
slape a utVrt lol. not only Ia Ncw-ior oDt also 10
force OF any silver bii Congress may pass,
and p:cyeu, thc TcpndlA'ion OF contracts hoa-
rlcciatcd Ine money lcdLiuS institutions of l-
country have the power N their hanc8 10 protect uc
Gi' i'm tic,r ~ If rTcnrt and d.ci.lyr ac,ion -
ppf taken. Ne b1InOastc re-ollt Nig.
{n'vi,,i7v icow a irgurous ,ieernIinat.on to make
all iu,urc Loans and contract. oil gold 0A,i,."
,,n irb H. Wi! submit 10 tho committee, toIa,. or
action lie dll not thin. Il proper yesterday submit
it 10 the public unu the committee hId acted He tait
that hi- views on this subject and position the Amer
lean EXchaH-e Bank has taAen on the silver question:
should be sufficient guarantee that lis ac,ion would
The general opinion among financial men j., that the
member OF the co;Enlttvo VIII present - Ong lepOI
urging the banks of NewYerk, Boston, Philadelphia
Baltimore, aud every commercial centre, 10 maze the
gold standard tine bIsis OF ali future contracts. should the
Silver ii become law. lt II b. eved that the report
Will cons Bland h thoroughly. and where.
in il passage woud Gsarraugo business and destroy the
WiuSlow Lanior & Co.. who do alarge business in
weston securities, stated on Saturday iLat u VISA
aake 20 say the lrn vas Geclluu2 loans 10 bc paid in
curgcncv except 10 regular dcpostors while they did
a1pioyc the Bland Silver Bill, thcv had taken
any sti'- to refuse loals payable IL currency.
APLEA FOR HONEST MONEY.
RESOLUTIONS ADOPTED BY THE EW-oEIEANs CLEAR
ING-noUsE ASSOCIATION AGAINST TIE BLAND
BILL.