New-York tribune., 1879-01-03
ACTION OF TIE CHAMBER OF COMMERCE..

ACTION OF TIE CHAMBER OF COMMERCE.
REJOICING OVER THE ADVENT or sPECn PAY
MT\rs--A HANDSOME COMPLIMENT TO srCEE-
TARY SHERMAN.
AT the meeting Of the Chamber Of Com
Inerco yesterday. A. A. Low, Of the Committee on
FInancc presented series OF reso uiions on
RESUMPTION. In presenting the resolutions he
said: To-day the resumption of specie payments
first takes legal eject, and it seems natural
10 take some action respecting an event so im-
portant TO this country 1t has been approached with
many doubts, and through some Distress b"'
We hayo entered on actual resumption "i'h
scarrelv a ripple Of excitement. Great credit
IS due 10 Secretary sherman" for his faithful
and Determined adherence 10 the law which he Was 50
Instrumental in having framed The actonof Congress
has certainly not been favorable to the success OF his
measure. | have the utmost confidence that III the
existing business relations OF the country with the
world nothing can disturb the carrying out
Of the law. Gold is so abundant that specie
payments will continue undistrncd. Before
me see the picture Oi~ Alexander Hamilton
winch has 50 long gr0ceI our walls. hope the lime
will come when the walls VIII hc adorned by the picture
Of Secretary sherman or Que side OF AcXdnd l!aml-
toll enthusiastic aPPlaus). and on the other SIDE by
Carl sClhrz profound scncc) crthey have done much
in Illuminating expo~itions on financial matters
The following res soutIOus then read ana adopted:
Bcsirrd That this Ch3mHrr deems II fitting ccclon
90 fehctIte the commun tN ana ne county q. IA >
long and adenty deoTed-thc resumption OF specie pay
Tnent
= Resolccd That this Chamber tenders its coDgraut-
S0us to the Of the II sTY, at once the II lc
and executor Of the law Of $50 upon ne success "lLc
has attended his adMluis ration OF the \ UiGbal
finances as well in the fuudng OF the pubic dr"t
as in the measures he pursued 10 restore SOUND cur
renCN. -,
ErsoJrrd That this Chamber deems If proper, at the
same lime TO recognize the prompt and ludlClouS action
OF the banks Of city. in uniting upon plan 10 CO.
operate with the Treasury department IN sustaining
specie p8yMtuts. 49,,
Pcs3ircd That this Chamber wOul further recognize
i- Obligations the Congress Of The United states Tor
the establishment OF National Banking law. which mas
given the people OF the country sale cll1ruC', OF
uniform value every state of the Union, Nndlc1'nS
from the first thc wisdom Ol it, founders.
ResOlocd That while contemplating, with pleasure
and the success of CONGRESSIONAL Jaw III e
facilities il gwen 30 the transaction Of business and
20 the restoration of sound currency in The manner
10 ask the attention of Congress once more 10
the iucOngrnitv of two standards OF Value-Oue
OF gold, which conforms 10 the universal lndg-
ment Of the civilized world; the other 0f silver.
which l. almost widely conoemned; the one stiO.e,
because accepted tie other unStaOe, because re-
leced standard ny the principal cOn rclh nations
OF the globe the one truC the other ale ana thlS
Chamber respectfully pTay- That III order 10 avert the
danger attending adoption of silver as measure Of
values Congress Will amend existing law by further
limiting the coinage OF the silver dollar and It's use as
legal-tcudcF.