Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-01-16

;aoton. ID. e., Jan. l6. l87S-10:30 O. M =
For the Middle Atlantic States rising os'om
eter, colder northWesterly winds, and clear OF
partly cloudy weather.
The Silver BilI-Meeting Last Night.
There was quite large assemblage of citizens
at the chamber of the Common Council, last
pipht. to participate 10 the meeting called there
To consider the silver bill now before Congress.
Among those present were several OF the prom
inent business apd professional men OF the CITY.
Ga motion of Col. q. F. Suite. Joseph
Hopkins etq was chosen chairman. add *
pressed his thanks for the compliment.
j. T. Beckham, elq, was elected See
| rotary.
Mr.. McKer zie said that be had no interest
| in the matter different from other citizens, but
he had felt for some time that it was right and
| proper that our people. being citizsns of Vlr'
pinia and of tho United States, should do
something to endeavor to improve the times;
that having been an old merchant in the days
when there was more prosperity than now. be
had thought it right to call this meeting that
| two years ago he had prepared statemeDttrom
the report of the Comptroller of the Currency.
BY which it appeared that on the lst OF NO
Y m Der, 1875 the amount of legal tenders aud
| National Bank notes 10 circulation was S625..
900, 900, and of this amount 1927, 000, 900 were
National Bank notes. ADD. With population OF
40 900, 900, an average tf thirteen dollars and
seventy. FIVE cents per head. according to this
| calculation. II this circulation was held by
States, the six New Eogland States, with a
ropulstion Of 3 .497, 1924, would be entitled to
circulation. in National Bank notes, of Sat-.
o5S,955. whereas their circulation is. STA.
424 93l, q f.rence of $50 600 900 ; the Mid.
| die States, with population of GIG. us,
would be entitled to 1888 604 .e3l. but have
circulation of $ll9 Cos. 2S7. short $l4 600 900;
the South and the South West aud the Dis
trict of Oolumbis, with population OF IL, l05.'
4O6, would be entitled to $3.50. III S32. but
have circulation Of $33,s76 5S4. short STAG.
100000; the Western States, with popp.a.
ton Of Ii ,2SS. 526. would be entitled to $l55,.
eli, 233. but have circulation OF va .4O4. 4sS:
short $50, OOO,O0O This statement was printed
and laid before Congress-. suppose 1t will be
conceded that the agricultural States require
larger amount of currency than the lDanufao
turing States. Docs anybody supptai there Is
bankinr c.nital 10 the South tor the wants Ct
the peoul,. The establishment of every Ma
tional 3 INK il the communities Of the South,
where the deposits are very small, takes from
each community moro than it brings back, by
pre- NUNS on bonds, taxes, &c. 10 1858 the
haokiog capital of Alexandra, for lostance, was,
Branch Farmers B,uk, csnital $500, 600. spe-
clio $35, 227, discounts 1891 364. deposits $780,
307, notes Id circulation Sl2S, 2lS; Exchange
Bank, capital S265 800. speoe $50, 994, dis
count $4,000, deposits $4S 0O6. notes 10
circulation $l7S ,453 Old Dominion. capital
S4O5, 600. specie $S3, $40. discount S466. 719.
deposits Sl72 AS, notes 10 circulation $407 200;
total, capital $97O, 800, specie $l49 1868, dis
ooupt 81 50l,235, deposits $409. 76l, notes 10
circulation $7l3,87l. 10 1877 it Was, capital.
1926, 900; specie, S. 345; discount, $4l9 900;
notes 10 circulation, $3.50, 900 deposits, $685..
600. Does any person suppose A'eZandrla Is
going to thrive with such o dminutoa OF e.
fects. Business has been dull for five years
past, property unsaleable except OF rupous
ratios, ard yet people 10 Boston and New York
tell the South, Southwest aud West that the
basis of currency is to be gold alone, and thst
the issuing Of $25, 600 600 of silver per annum
is to ruin the country, when 1t has boon the
currency Of tie world since its foundation. uotl
by lcgerdemair, and without l's being noticed:
Congress saw fit to make it, except 10 sums OF
S., merchandise instead OF curreDc7. They
saw il j, important to sell our bonds abroad.
and that it is reputation to pay interest 10
silver LIT it b, paid 10 both silver AID GOLD.
A largo portion was bought with currency when
cold was 81. SO or 81. theretorS think tho
silver bill ought to pass. | am DOT opposed to
the National Banks. The Conn troller Of the
Currency estimates tie profits on circulation by
the National Banks, on an average, not over2
per ct. If the government can guarantee the
notes of o back what is the differcnc, between
doing SO End issuiog greenbakcs direct, and
saving the interest on $3.50, 900. 900 Of bonds,
less the tax paid By banks At the rqlest
Of Mr.. Mcket zie Mr.. E. j. Reed read letter
from Mr.. Tnurlow Weed, Of New York, urg.
iug the passage of the silver bill and an editorial
from the Richmond Dispatch on the same sub
iec'. Before the war We exported very little
abroad bus cotton and bresdstufs, aud now
added to the exports il petroleum, beer, pork,
bacon, lard, butter. cheese. clL,le, oysters,
apples, hams, dried fruits, sewing machines,
lea Their aud cotton goods, and yet great Dragging
Aba ut balance of trade within the last year or
two, when all these additional exports are
following resolutions: {
Whe, cas- The people OF ALE < lndria 10 oom
mon Will, the people of the Commonwealth are
derirous OF seeing better times than have pre-.
vailed for the past four years, which deprived
large number of our people OF employment.
and reduced the value of real estate to such an
exteot us TO render it almost valueless.
And whereas it is believed that the present
condition of affairs results, in great degree,
from the Withdrawal Of currency from circula
ton. Aud being of the opinion that in conss.
duence Of the limited amount of gold and silver
II present 10 the United States Treasury, and
the banks, that neither the Government nor
the banks will be able to resume specie pay.
ments on the LIST of January, 1879. az provided
l,, oot If EOnp reSs. therefore be II, .... .s.
| Resolved, That with view to relieve the
people and improve times, the people OF Alex.
audria 10 public meeting assembled declare that
they arc in favor of the passage, by the U. 5.
Senate, of the bill Known az the bland SllveE
BlL." and in this public manner take occasion
| to make known their views.
! Resolved, That We are 10 favor Of the issue,
IL the Federal Government, of the rouia'lpg
m, ,diuu,, this. course being er ATTY preferable
to be National Bank issues which takes from
tic warnings # the people. at large the interest
/ : - hands Lee tho Maid bV