The New York herald., 1878-01-10

peal the Resumrxon and indehnitey proiong
fault once inearsd the question ossuotion OF
would after such legislation. easily lapse into general In
Tue act revenue has been paid in gold
a. home abroad has also given the
70 s sos sssa, ss
move this Guarantee and the market value 70. Of the oono
lost bS, hs currency will a'6
Can any man believe thu. such which must p
eonhdense to enterprise or awaken industry and trade
widen breach u would only resa in pretrscting
@ % ss % the are
Indispensable conditions OF prosperous bnsness-could pos
Aay who expects to be benefited by an advance in
%sdia2 paymens would and i. harder to obtain the
dollar than the dearer One, because o. the general
y millions Of gold now IN the Treasury osssasda
ass by the sale Of bonds lower rate Of interest
eyer before ne. the Formation o, M the "nn
which make dollars be paid The holders
Of the last millions be required to pay in
gold with the prospect Of receiving dsteriora'ed SILVER
These practical questions which creditors abroad and
threatened legislation seriously ask and upon The an;
institutions which hold custody
q the people class and condition in ne and which
mam in gold COIN relying upon the Of the govern
dsi4ss such promise. such .uino1i.y to such eIsai
win be blow ses at The % y9ry
Whether high or low nearby benumbing intlu.
moral from when a. best win oe slow and pain
posed without and without necessity Just
nation he s OF and snsa
II i: not sarorsnx tina. tho people arc yet svoy
,.sn .ss %S %sls nis ppopasitiOa
NJ ss Ss wsa
ing Janqary and July 10 single year, from 10 & 20 ioa
ieay follow as its advocates have urged issues
able paper and worse evils are IN their train
| Whutev
tampsing With the commercial standard would soon be
change but ali foreign trade would DC subjected
by the unnecessary charges incurred
- PEOPLE.
A reply to the second question -
pasaea |sssarss can be in
shS thew ori.aen s4ssnasS 70 ceaSs houses other
es and to other institutions h:s 70 1ts SaIi S.h
.ee consider only re.asss 70 them . % withheld def,
booles shall have been nterchanged
j. q. Of .ap rn1
nst remOnstrato against Legislation; which must un,
impair national credit and naesd .ssast enact.
ns s sspsnse Of aes
10 the wisdom consss and TO hs trmness ofthe Pros
Il Is our duty also did ormsr mpor.an. esyen
sss G so By ssns x ali u II. fast
asod standard ihis Is not TIC q banks alone but
and all financial bodies As eustodians Of Their own
a bnt repositories Of the people they must follow the
PRACTICAL the into gold
costs At most the premium paid Who the
# be sacridse the public may fairly
make each one according to his capita psss and it Their hsr
nsastions to gold value the shanss may readily
ss shsu lh's within
y days y s ne ssa WIN sa
supplies giving abundant stock This fund tho
w 20 aSS.sa To retain it we nass give
WIN this Our s Sa U % Gs It's se.non
the could we'll afford to sink the small pre-
Willie discussion contin Congress upon the Sill
nsIe ssn or psoaScye nj Industries " no Of
confidence ana except ss based upon goo
valucs. -
Your committee. therefore, recommend the following
Essoyed, That committee be appointed toe to consist Of
baltimore and Philadelphia together with three mer.
companies and with such others AS time may
be by them added. tho outy Of which committees shall
fia-To memorialzo Congress against the passage Of
sns hs coinage Of r. silver rs ior
shall regulate the value hereofby Its bullion con-
second-To communicate with the several banks and
several Clearing noase associaons OF the country to
their respective member inviting ana s request.
mSriai and petition; AID: further. TO urge ueoa
traders and manufacturers speedily as may be to place
their affairs upon gold basis in whole or in part ana TO
with further suggestions for individual action as
Rssoved That it shall be the duty of this committee TO
% snail Be asd the
tions of the several cities represented
has TO the bodies
to invite simultaneous meetings in the different cities OF all
She insttntors represented
All with a view OF attaining RESUMPTION as early rs
events shall prove 20 be practicable
Mr. CUMMINGS SPEECH
When the report had been submitted, Mr.. John
Cummings of Boston. said:-
When the summons made upon the Boston
Clearing House to DO present here to-day 1t was
heartily and willingly responded to and the resolu.
tions, copy Of which have, that were passed the
other day, considered and unanimously ap-
proved OF by the Clearing House OF Boston.
In u discussion OF what has to bo done and how IL
be done TO prevent tho passage Of the Silver bill
feel entirely inadequate TO advise In Boston, whio
we arr be tho HuD OF the universe, but of
this country, move slowly; but believe II tho
conviction most fully there that 1t cannot be that
bill would be passed rcmonetiZing silver Wo do eel
sure that government stamp or any other stamp
no legislation abolish the difference between gold
and silver. individually do fully the
views expressed by your committee as read by Mr.
the prean bic and resolutions ommcnded
by that COMMITTED can only say that ieel certain
the Boston banks and those nneced with thom will
do all they can TO prevent the passage OF that BILL and
know that many not connected with the banks, the
merchants OF Boston, ior Instance, earnest
their opposition TO the bill any and will be fully
prepared unite with the banks in doing what they
can 10 prevent It's passage.
REMARKS MR.. uAvRs.
Mr. Franklin Haven, OF the Merchant s' Bank OF Bos.
ton, said:-
did not come here prepared TO make any comments
on this great matter think that the report has
forth ably any report could the great objections
the passage oil the proposed Silver bil aud cannot
believe that Congress Will pass tho Bland bill Iagree
with every word which has beou uttered and every
presented in that report. believe that the pass
age such bill would be oil incalculabe to tho
country iecl that there can DC substituting oi
dishonest dollar for an honest one and II
peliod TO have both gold and silver dollars
must have some provision whereby the silver dol
lar shall be the equivalent OF tho gold value.
hat rs my own sentiment heartily approve OF the
report
OPINIONS.
Mr. Rhawn said that he wished to express his entire
approval OF the sentiments contained In tho report
Mr. Coo had read.
Mr. John a. Stewart, ProsiLont OF the United States
Trust Company said
concur In the opinions contained In tho very able
report which has been presented by Mr. Coe and in
the views expressed by the gen temcn from Boston
and Phiindclphia who nave spoken take IL there is
entire unanimity oil feeling and sentiment hcre
gArL no inns OIL IL secms TO tlats