New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-08-13

perv into Al relations with the world without,
and arbitrarily legislating away the rights ana e1ues
To Jus ify such lerislaou BY prediction that silver
viii recover from s comparative depreciation Is Gully
way OF decreeiDg present. injustice ny accu uan.
panyng It with behet that time. VIII arorbn9'c
declaration II Congress. enacted INTO law. In defiance
Of the Irresistible movements OF commerce ei Es
litue comfort to those VINO meanwhile sun ,
loss. Congress should not enact laws even
temporarily unjust and no political parry T can
espOuse such an error without destroying ITSELF lnG
truth cannot be too often reiterated that an
material value, are governed ~ hT imam
vision and egslaon aud every clumsy intervention Of
Government III su Jeel o. such wor,d VIDE fe,at'n
human law.
H. II. Camp Of Milwaukee, spoke on tho direct and
indirect benefit to from coin deposits security
for National bank notes. lie proposed to amend the
National Banking law that, with their deposit or
United states bonds to currency banks shall also
deposit propoItonae amount OF coin. for which they
will receive notes of the character.
John Thompson, OF New-York, forwarded a paper en-
titled. How to utilize economic and make convenient
for currency the precious metals gold and silver" u
read by the tarY. The paper sugge-ted that
the Government through It's treasures aud miGts.
including coins OF al nations determine the value Of
deposits and pay for tie with Treasury GER
made payable 20 bearer on demand.
DANGER APPRFHENDED.
A. L. snowden, OF the United states Mint. Philadel-
phia read paper In relation 10 the reconciliation Of
the silver dollar ana TIE e trade dOar SPEAK
ing OF the issue OF trade dollars. he SAID:
The danger to us a people is. in my Judgment. very
II 90 900 600 or tbrreabons we may on the slightest
converted into single silver standard nation.
and forced 10 abandon the commercial complniOnsnip
II tho 1pte rent nations o the earth and take our place
with India. China and other yIzrd peoples In
deed believe AT THIS moment tue Secretary OF the Treas
ury has the power to bring tls about ana r gold
act Of SIS. which may well be sly led act of the
widest y should be repeaed ana that at early
trade dollars be called IN, OF full weight
standard dollars be issued IN their place, and tnat
those dollars Issued III exchange be counted IN the
m0nihY issue under the law
General Wager swayue. Of New-York, spoke on the
subject hank taxation. He claimed that the banks
not taxed uniformly Will other properly and that
the re let for the hardship must eventually come from
the courts rather than from Congress.
C. p. Williams. OF Albany. read an exhaustive naDor
on same subject lie did not believe that any class
of the community is benefited BY the imposition OF
pvIious aud unequal taxation upon any other class
Bankers were ready aud willing ~ al times 10 bear
Just share OF the proper burdens OF tue Govern
men; The paper referred largely 10 the system Of tax
alton in NewYork where 10 said tne great wrong
Of taxation was made through the underyauatlon OF
favored classes and properly ana their non-assssmen
in great degree
Mr. Isber, Of Alabama. presented The draft OF me-
moral to CONGRESS asking shat the bank depos-
IT'S nc bolshed The demand IL made on the following
grounds:
Frsf-Thaf II Is contrary 20 al equitable ri es Of tax
alton. 10 tn.t 10 taxes debts instead o. propery
the l1w Imposing taX Oh bank deposits
Irii. 'I 10 rt'rrer.iop from H. true intent
IN that faxes The same deposits several
t.mes over, ana olso taxes tA1t p'ri oi
tne aer cIt- whcn the banks are Dr. law compelled To
hold "a ID reserve.
Ihtrd-TDaJ te TAX upon hank depos o l. part OF tie
var exc winch nearly every uther 10 eftst mas
been relieved aud which optrntcs iu t- effects urol
banks 10 en- eb au'iat rest get importance to our
iAdI trial ana commefcii. system.
FOurtt-Tuat the people OF th. United ~ to. we bee
-vc 20 girater extent tuan ever before 10 favor
of glaitil- tDe relief wc ask.
Iu gren- these cls-1- relief hog t. adj that
1l- harden sees to remove bears aliSe upon Safe
n.ua. saying- banks eEl private banks well Is upon
A'tOull banks.
III. memorial was referred to The executive council
for action. AID the convention adjourned until IL
tomorrow
C1oiy secretary Of the Bullion Club addressed
letter 90 the association. in which he sudi
Permit me through yon TO ca the attention or bank
ING and financial ln-lltutlou' to me u-7tiahl liF
ot. IN some way, making more use tn1l
we nov ito DOB our rnI1h cnrr-q' OF ile goa
duces bullion largely j. iI0ceJ claim thu' Gle Ont
put of rs mines exceeds BE- amount Che production
Of tlr money meta n al the rest oi the Wogc. Yet
uOls. Great Britain, France ami Germany
gold and silver almost exclusively
~ Their retail trade Hale tne United 7ta'es
gOrgiug al Che minor departments ~ trade
win paper money o. small denominations a. follows
thai le money metals have less III tails country
than ln otIer clylliZs d nations.
The associated bankers might also help our Won
iDt. rests aud save tuc nation nom great peril 10y
aos ne aegse. es i d r5 l ye- the ne
national vaults nm the time would come when every
grreuDa.k dollar Voud DE represented by a gold or
silver dollar III tine Treasury.