The New York herald., 1878-11-13

declared that they would in sixty
days, and when the time came nobody wanteo
specie Europe absorbing our surplus pro-
ouction, and the coming cotton crop would o. :
great heip The country could not have been III osF
ter shape, and he was confident that resumption
would be accomplished. Tho means used he cons,d-
cred adequate and the plan adopted by the banks ne
thought wise. There might be difficulty abont all
ver ana the banks tn take silver deposits
except on special OF the payers or
discounted paper might settle in slver.once but they
would get no more notes discounted
Mr.. q. 1. Baker, president OF the First National
Bank, said that resumption would be accomplished
on the LIST OF January. Everything was working
smoothly and there trouble between the ma
tional government and the banks. There was an
abundance of money to meet all legal tenders that
conld be presented. On the LIST Of january tho Uneh
States Treasurer would have $l5oOo0.oo0 in coin,
against which all the banks oe the country held only
Sl0D.O00Oo0.
Mr.. George 8. Coe, president Of the American Ex-
change National Bank saic that everything would
concur to assist resumption and that all would work
favorahly 10 that end.
Mr.. Worth, president Of the National PARK Bank.
said that there perfect unanmity among the
banks in the matter and the only liar to complete
OF the silver matter. This. however. would be ar
ranged Every one would approve the course os the
banks he thought. and the country was to be con-
graduated anon the prospect
Mr. Isaac Odcll president OF tho Mercantile Bank,
said that his ofcia opinion Expressed in the
port from tbs Clearing House ON the subject.
President CoInstock. OF the Citizens EanE, No. 40l
Broadway said :-"Thc meeting at the Clearing HoGsc
was very harmonious one, and have no doubt re-
sumption will be accomplished without diiaculty.
Tho banks arr in thorough accord with tho govern
ment and the only difficulty in tho way is the corn.
plications arising out OF the Silver bill The convert
ibility Of greenbacks into gold would have been
complshed before this but for the passage Of that
measure"
President Trowbridgs Of the Second National
Bank sad:-"The meeting to-day was harmonious
and was intended to show that the banks in SYM
pathy with the government. in securing resumption.
We desire the repeal of the Silver bill but beyond
this nothing remains to be DONE
THE BANKS Will RESUME.
Mr.. benjamin. B. Sherman. president Of the
Mechanics National Bank, said:-"The plan sub
mitted to the Clearing House Is good one regard
the resumption of specie payments the lst o.
January next ~ feasible and beyond any possbl,
contingency. This is the richest country in thu
world. and il cannot pay our debts in gold We hst
better cease to be nation"
Mr.. Franklin Chandler. president Of the Mechanics
Estionsl Banking Association, said:-"I approve thu
plan. At meeting of the Clearing House we accepted
report of the committee and adopted the resolutions
as suggested by thcm. don't know of any obstacle
in the way of the resumption of specie payments
The government is going to resume, aud Of course
| the banks will have to follow suit
| York, said, "I ut the Clearing House meeting
and approved Of the plan. The only Objectionable
was disposed Of in a way that met the approval q
every present except the representative of
hank. With the balance of trade largely in our fa
| vor I see nothing to prevent the resumption OF
| specie payments"
Mr. Frederick d. Tappcn president Of the Gallatir
National Bank aid:-"I was present at the meeting
and voted for tho resolutions and plan. think her
| will be dificulty about resuming specie payments
| a. consider it altogether practicable"
Mr.. Moses Taylor, president of the City Bank
said - was not Ut the meeting, and don't know
anything about it except what saw in the papers,
SEQ obstacle in the way Of resuming specie pay
ments, and have perfect confidence in the measure.
Mr.. James ID. Fish, president of the Marine Bank
said :-'T approve Of the PLAN 1t voted for b,
every member Of the Clearing House except the Banl
OF the State Of New York, which represented by
Mr. Colgate and he asked to be excused from voting
for that bank In fact Mr.. Colgate did not spprov,
of the resolution himself being In favor Of silver
and did not wish to any distinction made aGains
silver. In regard to the resumption OF spetie pay
nnents believe it is practicable and will be
that law but believe it can be done and woult
have been done before this IL no such law had eve
been passed"