New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-08-12

= 81
Washing 26G'60i 5d8
! New leans ......-... a 1,206,769 500
SS:sssS 5i }i$ sS$$
MiWa1kee sspI9522iii s85
San Fan Frascsco As99GSS ssIIss
Total excluding Nev.YOris cy ISL s77iOO7l5 GA
B Bsia as4aS Ns~yo cy 2si tdsaI: 3a
United I,066 $9sl n iol6 o51
AS soon as the returns to be called for during the
month of Sept mber received the whole will be
fully tabulaed and shall then have th satisfaction of
presenting to the public the first elaborate series OF
stca tables upon tins subject compiled. which in
formation will, am confident. interest you much
any which has ever been published i'll reference to the
business OF banking.
In conclusion Mr., Knox referred TO the panic of
| 1873, and repeated memoranda heretofore
prepared and printed by him.
WORK OF THE AFTERNOON SESSION.
The afternoon session not so largely attended
as the morning one, few others beside the bankers
being present. On motion of William H. Rhawn,
of Philadelphia, the question of providing for the
continuance renewal Of the articles of association
of the National banks referred to the Executive
Council.
IL. Camp, of Milwaukee, Wis, moved that the
Secretary of the Treasury be requested upon the
deposit Of gold coin or bullion with the Treasurer of
the United States in sums of not less than 500, to
issue gold certificates therefor delegate sug-
gested that the matter should be referred TO the En-
ecutive Council, with instructions to report to the
Convention. Mr.. Coe, of NewYork, said that all
know that in order to overcome difficulties attend
ant on the circulation of silver certificates
were issued. The law provided for similar
certificates for gold deposited, but when resump-
ton about to take place the Secretary
| of the Treasury suspended the provision. The OBJ
lect now - to give gold an equal standing with sill
YER Gold certificates can be transported by mail,
while to send gold by express is expensive. George
| y. Butlcr, OF NeW-HaYen, doubted the wisdom of
the proposed course. The fact that silver certificates
arcnow issued he considered no reason why gold
tihcates should be- lie thought ii was letting down
the bars TO enable the Government TO put its hand
further into financial affairs. Gold, he said,
ought to be circulated as gold and
not as something representing gold He
would much prefer to have the Convention make
move toward restricting action of the Govern
ment IN oanklng affairs. The discussion was stop
ped ON point of order, and the matter was referred
| to the Executive Council,
| The Secretary then read a report from the com
mittee appointed 10 nominate officers of the AsSoca-
| ton: The report named George S. Coe President !;
! OF the American Exchange National Bank of New
York, rs president and l., G.. Gage, cashier of the
First National bank of Chicago, first vice presi-
don't. The other vice-presdcnts named were those
Of last year, with the exception of Benjamin Egg
lesion president OF the Second National
" Falls pfSnt of th e0 Me TsRaGfS Na Rans
Bank d OF % t GlnG,innati and John r. branch,
mond. Va.who takes the place of John Echols presi-
dent of the National Valley Bank, of stanton, Va.
! The following were nominated to fill vacancies in
the Executive Council Henry Martin Bnialo:
William L. Halliday Cairo III: j. H. Iindenber,,
ger Louisville, Ky; Jacob ID. Vcrmiivn Nnw.York
and a. d. Lynch, Indianapolis The officers nom,
mated were elected unanimously.
CONGRESSMAN BUCuNERs PROPOSITION.
| Secretary Randolph then read "A letter from Con
| gresham A. II. Buchner, of Missouri Mr. Buehner
says:
Whatever may be the individual opinion or desire OF
te meneers OF your association rs 10 what ought To be
to DC more certain than that choice
! National bank organized on the stock principle or
70 sne Issue ana control by the General
In conclusion, permit TO submit the following propo.
question of the future currency OF the country:
ns c,Tu circulation I" consist Of new issnc Of
tender aud hnnbnote circulation, with ample
ton to he issued either by authority state or cen
erai G9yernmcn except certificates FOR BULLION deposited
III The Treasury rcdecmablc also In and like
functions with the Treasury note '"e INV
The chairman announced that he had received n
comprehensive paper from Lloyd Tevs on the
growth, past and prospective, of the Industrial
Banking System of California. On motion it was
not read, but ordered to be printed
The Executive Council reported an amendment to
| the constitution Incorporating in the objects of
the society "a system for protection of members
against loss by frand forgery robbery aud defaIca
ton 1t was explained that the original object of
the association would in all probability soon he ac-
compllShed, and the proposed amendment would
tend to keep 1T together. 1t was proposed that
against any member was committed il. should
be reported at once to the secretary, together
with description of the person committing il his
methods etc. and, when possible, his photograph
This description would be epitomized and sent to
every member of the association. 1t was also pro-
posed that three persons not necessarily members of
the association, should he appointed to look after
the prosecution of offenders. The amendment after
some discussion, was adopted.
The new president of the Association Gcorgo &
Cox, was then introduced, and on taking
the chair he thanked the members cordially
for the honor conferred upon him. and said
he would do all in his power to sustain the organiza
ton He regretted that the position had not fallen
to another but rs il to him he accepted IT, and
would perform the duties cheer uily.
"A letter was read rom William A. Calnp manager
OF the New-fork clearinghouse. He forwarded
charts showing the fluctuations i'm loans 10
poSlts, reserves and circulation in Ncw1York
ana fmladelphla during the last eight wears 4
pauer from the Bank of California was referred IN
me me Executive Council wish instructions to print
| rms paper proposes that the Cove nment alone
should issue paper money upon specie basis Mates
should be issued on silver ngot and these sbouid
be OF the same denominations as the present hank
notes, ana should be received for all debts puhlic
ana private. They should also he redeemable in
gold com, at the option of the holder They shoud
also be Tree from taxes of all kinds ~
a paper by K. ii. |. Palgrave of Ioudon an
English banking" was also referred. IL was re-
solved that the question of bank taxation shoujd a
Tue nfst one discussed tomorrow morning
-------
CALIFORNIA MINING STOCKS