New-York tribune., 1879-01-17
THE COMPANY AND THE SPEECHES.


The Bullion Club gave ITS first public
dinner last evening, at its room, No. 10 west
Tvcntv-'ourth-st. About fifty persons were
present In OF the Prrsicni,J McG nnIs r
who was ill., ID. G. Croy occupied the head of the table
with Brayton Ives PRECEDENT OF the New-IorK STOCK
Exchange, his right, and Isaac IL. Barley on
s left r. C. stone secretary of the club, occupied tic
other end Of the table. There were also present
General Horace Porter. Commodore William
T. Garrison. Judge Charles T. DAILY, Cen
eral James Jordun. General Clinton T. IiSk, George
b. satcrlcc of The Mining Board, Prentice Milford, e.
r. Christensen. j. W. smonton. and others.
When the coffee reached. Mr. Croiy read tie fol-
lowing address OF Mr.. McGnnis, giving the scope and
aims Of the club:
On November l. 1875. little more than two uoniiS
ago The Bullion club was organized. In look
ng back over the history Of mines and
mining operations in this country for III"
past twenty years. we ind slckenns record of false
representations. wasted capital ana bankrupt c3rioi4
tons. Much OF this waS due To inc imlcftc' huo"r
edge mining. and Of the proper tatn cnt o re orc
mined. but sorry Ia record the flci ina hu'h t'!'
was due to the int!lsuts ~ I,cN,gS ','
Recognizing tlesr facts rcroeizht lhc 'ini'. a'', '
in an industry which hc made rs lcltimttc r'h oi
manufacturing orfarmng, thc Euou Ciuh |as 'iean|
and to promote inning interests - Wiz" protr'uN'
measures social di.cusSion ana lhc fc,urir" re-
poses to have mitaC'ive olut-ro"iu'' where IHeH'
her7 ma, met i"r l"! ana n,' u!.yn>t.'' =,
gather within their the most complete >;iU''
and Information regarding c,"H prominent ln'rr @ "'a
uals pub S!rd IT ,r nr3 Wni.c camps; accurate ini'S
and 6aoraI of tn,a and mining di- tict>; samples ot
ores with aseav, ard valuations. record Of
al inventions for mining "r ftHur ~ tir..
Furthermore to have -Voadus me m1'S ia tF'F
leading mining camp in this country. ant 10 bIrE
INTO The fullest ana II''>- conference "', ny
qstgr1G" D G rurdss , d the Buo club be- Carried out -
tncy surely sin be-, hcy oaunot iall to o.'aoSu ')nii
dcHre IN iDg industry, ifolrcli"h 70 NtS'ois' anu
incacuable bchehts 10 the clty and country
ErNARTs or BEtYToE IVES.
The toast "Our Ncw-YorR 'uicrs-n1y they become
tho cashiers Of the world" was responded 10
by Bruyton Ivc1. president Of the stock Exchange.
lie briefly referred 10 the subject Of the resumption Of
specie payments and the assistance rendered bv lie
York banks 10 Secretary sherman III bringing about
that result lie sad that he believed that there was
such thingas abstract r'eh and wrong. and that 1t
always safe 10 uphold the reht HG closed hJ py-
Ing hearty compliment % secretary sherman a. tue
man wAo sE"ud be hIeciy credited win the lcsuit
accomplished.
ALrTrFR FROM sFChTTAEY SHERMAN.
Letters OF regret then read from a number OF
prominent persons. Secretary shclhan IN his letter
said
Irrcdeemable money Is always the result of war.
pcstilrncc, some great misfortune. nation would
not. except in dire necessity, isue t promises I" pay
money when 1t IS uhaD.e 10 i'l'ein me- fioil-ts
know that when the legal tenders were h-t l,'Icd o.;
February 1862. we were under d;Ic Necessity. IAe
doubt that prevented several influential Scndto' Ike
Fcs-endcn and Ca amcr from voting for ne r:'ehder
cesses extreme as TO denaud The issue OF IRE
deemabe paper money MostOf those who voted for IL
their vote upon the Taud that the very exist
cnce OF the country depended upon its ability TO coin
into money its promise to pay That was thc position
taken ny me. We assured by Secretary case that
nearly hundred millions u unpaid icquIeions were
lying upon his table for money duo 10 soldiers III The
presence OF the enemy aud for food and Cl0tf-
ing to mainuOn them al the front. We tnen
provided for the Issue OF lcga-tcHicr United S'acs
n0tes as an extreme remedy ~ the Nations peril. II
has also seemed strnge hat largc aud rsrcctabe
1 Il body of our fenOW-ctizcis sholId regard the
|
mqrcut rory of nation - strong and rich as Ours able
10 nav every dollar OF its hts demand after ITO
from Illness escape daLSr fO stand sound ard
healthy ia The financial world, with our currency
Therefore say may resumption be perpetual. To
wish ohcrws" i 20 hope for war, danger ant National
subject but against which the caInest aspiration OF
/ crS patriot VIII ne uttered
me IaaS p fnr Nrw IrR Mr!rg fHcnsc. NAV ~ it,
fance- decrease and lis commissions Increase john
| kept the table IA a rOaY 10y his witty aliu>i,ns
/, lis and abuses lie said hat b. had been eng Ecd
man present whose scalp he ha MOI taken at some limc
othcr lie was followed ~ Dit: NInantoh. Jtdec {.
T. DAILY SPOKE briefly iI behalf ol tn ioical ,gci y
GENERAL POEIEE'S ArpEI~S
General Horace Porter in rcspOnsr 10 the toast, H.
yestors Mines said hat not unwI-c saying
That a ought not 10 be ambitions 80 INTO the
ground unless he was incosed III co;n. He referred 10
bis earliest investment gold, whcn, a Second Leu
tenant IN the Army. he had purchased a pair OF
cpaulettes lie believed that the work Of mining vi~
! perfectly legitmat enterprise. God Lad put The
prccouS lpcta in the earth. and II right that man
should deve In search OF the Treasure.
The toast Our mining press " was responded hy
General james Gordoni our PT"srcet9rs The IcIr>7
and iudJpntahc pcncers,' hy Isaac H. Bailey oar
precious metal mircl.' by General &. B. Fish; oar
bullion pIoduct-may j. and the ret of the world
Bomauzts; may every member OF the Bullion Club lind
one" hy Mr.. CHrISteuGcil
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