The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-01-07


meentng on Wednesday next. Repre-
sentatives OF eighty-tour banks were
present. Strong snti-silver resolutions
were adopted.
Preamble AID Resolutions Pass'd Il by
the New Orleans Clearing House
Association
NEW ORLEANS, January 5.-Tbe fol-
lowing preamble and resolutions were
passed by the New Orleans Clearing
House Association this evening:
WHEREAS, There passed the House OF
Re 9reseDtstIyes of the United States on
November 5, 1877, during the special
session of Congress, sn act commonly
known rs the bland Silver Bill the
purpose OF which act is 10 remonetise sIl-
yer, which was demoIetlsed by M act OF
Congress passed February Y, 1873, and
to make legal tender at its face value
of what is only al present worth in the
market of the world ninety to ninety-one
cents; and
WHEREAS, 1t seems imminent that
this bill may pass the Senate, snd posi-
bly, that it msy become lsw Of the
land; and
WHEREAS, Certain newspapers of the
North have charged that the South wzs
favorable to the passage Of this law; now,
therefore, be It
ResoLcsd. BY the banks composing the
Clearing Hous. Association OF New
Orleans, and representing almost en-
tirely the banking capital OF the largest
commercial city o! the South, that We
must uaqualidedIy dcprecs.e and pro
test against the Jaw authorizing the COIN
age OF silver except rs subsidiary coinage
without legal tender value, or It - tor
= very sma.! amount.
ReSolced, That we ioOk upon gold rs
the recogr iZed stsE dsrd Of value OF the
world; that we consider lImItable
standard as not only dangerous bat en-.
tIreiy imprsctlcsb!c in the face of the
immense increase in the production OF
silver and its consequent tuc!ustlOn IN
value and that for TINS country 10 adopt
silver ~ m1aOme eta &c standard, Just
when we are feeling in need OF more
extended and reciprocal commerce with
other nations. would BE- % work Al uGlpld
injury - almcs. sll our dusIrios.
Rssy'cei, That, # for no other reason,
the bulk Of silver alone makes 1t entirely
ImpractlcabIe ~ y medium Of ehect!ug
exchanges Of value in any considerable
amount.
Resoloed, Thst the Couutry bas been
suffering for sixteen years the evils sl-
WAYS consequent upon 40 irredeenable
paper currency tlar, through much trIbu.
IatIon, aDt 4 msin.y By the retuc.IOa OF
interest upon the public debt o! the com
Try WAS rendered possible only By the
preservation, 20 tar invIOiAt@, OF the
financial pledges OF the government,
and which, IL our Judgm ent, II st once
the cheapest sLi by iar the most bOnOr4.
bic way Of reducing the bsrdens Of the
peop g, W hsYe reached point whore
our yernmsnt's nOh.iLleresi bearing
promises % pay can be exchange for
gold 81 q d.scUuU. q only and 2:
per cent, ALr where tbs nation
can borrow money O.. 4 instead Of per
cent. interest, a. a sayiEg 10 the people
Of 33t per cent. and encouraging u 70
hope Ghat a; 10 distant day, gold may be
81 par, and our country, then, On q SOLID
financial ground for future expectation
of prosperity, and that =. such time Il
/ would not only b. = very long step back.
ward, but NJ utterly demor.lIz.ng d1an.
cis! experiment g. reAst.H:-.e silver with
legal tender power a. Ill, and tar more
| 80 81 an 10 ta,ed and fictitious valuation
oi,ully 10 per cent Common honesty
and pu5.ic mors4 y s.IEa torna1i proInp.
/ payment IN 'ul. .! III obligations, and
| our government 10 .lid u lat 20 at 81
example o! sfiIIng fictitious ysG9 Z"
anything.