Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1880-08-14
MONEYED len.
Third Days Session Of the Ma
tiOnal Bankers Convention ut
SaratOga-A Summary Of the
Business Transacted -Sher.
mans Letter Criticised.

SARATOGA, August l3-Chairman
Coe, OF the Executive Committee OF the
Bankers Association stated TO the con-
yention TO day that some solicitude had
been expressed whether the subject Of
mitigating the National and State taxes
was receiving that attention OF the Ex-
ecutive Council its importance demands
The committee requested him TO say
that they are using all honorable means
to secure this object. They regard it as
paramount to any other duty entrusted
to them, and they are diligently pursuing
it in all reasonable and proper ways,and
with hope OF success.
A resoluti, n was passed in favor OF
the enactment Of q National bankrupt
law of su IN a character as TO discourage
fraud and afford ready and efficient re-
lief to honest debtors and place all cred
,tors who receive upon equal footing
with uniformity OF administration
throughout the country, and secure a
prompt and equitable distribution Of
the assets OF insolvent estates at the
lowest possible cost; also that the law
include judicious system OF coInpensa.
ton whereby settlements may be effect
ell in proper cases upon salts.
factory terms to the majority
OF the creditors without the delay and
expense incidental TO a full course Of
bankruptcy proceedings. The execu.
tive counsel was urIed to take measures
for urging Congress to pass this law.
George A. Butler, OF Connecticut,
read q paper on specie payments
and the relation which il bears to other
grea, financial questions. Edward At
kinson read a paper on the industrial
growth OF the country and the chief
causes which have produced it. Atkin.
son closed by criticising the letter oil
Secretary Sherman which was read yes
terdsy.
A resolution, offered by the Execu.
tive Council, Was adopted asking Con
gress to discontinue the coinage OF from
two to four millions OF silver monthly.
as tending TO derange business, and
likely to ultimately result in the EN-
barrassment OF the government, the ex'
por,ation of goli TO foreign countries,
and general financial complication
Congress is also asked to repeal the Law
of February %. 1873.
The papers OF W. II. Patterson, oi
Georgia; Apdrew Simons, Of Charles
ton; Eiward S. Butts. Of VicKsburg
Theo. NJ. Pomeroy, OF Auburn. and
ex State Assessor James A. Briggs were
ordered printed in the proceeding
without reading.
The paper by Sidney F. shelbourn, o
New York. on the financial aspects o.
the Inter. Oceanic Cana, was not read
II maintains that the several scheme.
for the canal are still immature aud IN
definite, and the promoters themselves
are not in accord as to its cost.
A memorial to Congress, offered by
Mr.. Isbell, OF Alabama, asks the repea
of spme portion oi the taxes on banks.
George 5. Coe, chsirman OF the Exec
utive Council, said il had been suggest
ed to have the Association meet mex
year in Chicago.
Luke P. Poland, OF Vermont, objected
he said no full meeting could be ha'
elsewhere than at Saratoga.
President Mitchell returned thank
for courtesies. and declared the Conyeu
ton adjourned.