New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-11

average more than one hundred and f1ty million dol
lara The commercial difference IN the price o. tuls
pTopery whether measured by gold dollars or by sVer
dollars or tIls enforced coinage, Is about t"thNFe
millions in one day Add to this the aggregate sum eA
"hanCeS tbr0 IN an banks and bankers OF the land, ana
also the large amounts passed between private
and merchants rneB multiply these enormous hguIes
by the number O! days before this new measure Oh bdu
shall have become equitaby adjusted ny inc "a
new and corresponding prices OF property To TINS vast
aSreae s,i further add the total Of debts and obga.
tons due from one LOron OF ihe peopI1 70 anu az
able by the other ana then consider. If the
mind can grasp II, the hnnie oGni.sion s an
The uuex pected losses incurred the deep dsappont-
ments failures and consequent agony ana sOcid uc
morazauon involved in this capricOus and gratuilons
legislation Remember also, the enhanced prices III
cheaper dollars, O ali articles OF necessity puhseI Wy
the neope aud the always slow progress OF the wages
OF labor I'm rising to a cOrresponu ling height anu the
consequent meantime CONJUNCTION aGu ulSCOhttHG AuCl
saw whether the men or the Congress who imposed this
measure upon the country in time OF its highest pros
perIty, who now refuse 10 arrest H. as lAe! Gun %
fore these certain and inevitable consequences begin
Will not meet the popular retIibuton way need,essy
repeat peace ana plenty the douO t ueices o VIII
Rather bring again the depOraDle eFs Vi uePe
claed and derau-rd currency upon the COuliy' "Ouu
be better that the whole amount OF iJGced uods
That now enumbrr the Treasury vaults DC sunk lhto
the sea- or be Ter still that uhgy ne re urued 10 their
original con tOu or uNcoUed buIlOi anu lhtohn upon
the market dollars worth for dollar 10 ne retained
i'm this couury or carried away wherever free commerce
demands IT, either for money OF herMIst, uutl IL ~ az
sorbeu In the great tide OF ges noug luut iho
world like other productions OF human labor Remove
this legal RESTRICTION restore the freedom OF coinage ana
let the precious metals 10 Tor lhG al DINER il'e VI
the EARTH subject to The greater Law OF supply anu de-
maud.
FRACTIONAL SILVER,
There Is an important domain OF trade d.! included IN
commercial exchanges, which Is filed by thai great class
Of the community VINO only give their personal ser
vice for compensation required for their simple suesst
ence. They have nothing in reserve TO exchange IL
has always been question whether paper
documents OF commerce should DO issued IN
small denominations so as TO embrace lniS
class or taat they should incur the risks VINO do not
A.. go, hoy
the great retail trade. Here is substantial reason why
paper currency of small denominations shall be re-
strced, and IT'S place filled by cUlncu money IN the
minute Subdivisions vi labor turOug the world silver
coin has always and everywhere served TINS mdspen5a-
bic purpose, and there IS no reason 10 doubt hat u al
ways viii. II Is absolute necessity There is reason
able question HIesner III this country commercial docu-
meats nave not thus enerOached upon tho Icpltlmae
DOMAIN VI silver money, and whether mere Is not 10 Oe
found uatuIal measure OF relief
and woud Trgure that II be issued IN fractional
Denominations suited 10 tue minuter details Of life, II
woaid aud financial strength TO the country 10 tue eA
tent of the 2oln reserve ned by people We may
thus Give room fer natural mand in advance Of the
supply. Whereas with the present grauJous coinage OF
SILVER dollars unnatural supply is TO be forced
upon the country. without precedent and Without de-
Dand
secretary Marsand read the report OF the treasurer
follows Balance on hand from last year. $5,0l4; re-
ceiyed Sl64l413 disbursements S12 O46 95; balance
on hand, S4,347 SO.
The report Of the Auditing Committee was read and
adopted.
ADDRESS BY CONTROLLER KNOX.
John ], knox, Controller Of the Currency was then IL
trOduced received with every mark Of respect
and applause. Mr. Knox took up the question OF the
different systems OF banking, comparing the National
system with the old Bank system before the war.
An experience OF twenty years shows that the National
system the best yet devised 1t having won T. lts sup
port ITS former opponents La proof OF TINS Mr. Knox
last year, some of them IN localities where the demand
was already supplied. The average issue OF these
Ha UU
Il necessary he said that the surplus revenue should
have an outlet the Secretary OF the Treasury hes
been forced % cal 10 the outstanding bonus, thus DIS
tuTbng the Danhs, and Congress must make provisions
TOR hoods ON WHOM to base The systrm lie SAID nc DIT
not the National stem would cease TO exist as
MOI suppose il probable that Congress would consider
proposition yet, but II was subject when might
safely challenge the careful consideration 0t the assoc
clutlon Ibe address wa. oOncuded auId applause
OF the convention. a ler0r nom Mr.. kIoN was then
read giving statistics IN reference TO TIE 0uuAug lnsi-
tuuOus Of the country for publication With the proceeds
iugs OF the convention.
REMARKS BY SENATOR HAwLEY.
Senator 10 cpn r. Hawley of Connecticut, delivered
short address IN which he referred TO tho duty OF Con-
gress legslate upon the subjects discussed by the
convention ana prayed them to do their Work carefully
SO as to present the results properly the laymang
power and lead II proper consideration OF the same
TOPICS FOR DISCUSSION TO-DAY.
j. H. LindcrDcrger, president Of the Merchants Ma
tiOual Bank of Louisville, Was introduced, aud read
paper on Our Banking System and It's Relations 10 the
People and the Government" At the conclusion OF MS
address Mr.. LlndcnDcrgcr moved the following:
PegDircd That the adherence by the Government 10
yuicy viii atiTaC. 10 its use an aJun4aut supply
OF gold ana silver TIC recognized money uf The word,
auU cause its general diffusion umUn the people M tuC
currents OF business. VIII encourage the most RAPID de-
vclOpmCut OF our Resources, stimulate TO ACTIVITY our
productive industries, and promote Inc greatest stcadl
ness aud stability III me business Of the country.
EeSOired, IIat the bank rUtt circulation is absolutely
secured ana under lmpl safe guards for IT.
dempuOI demand III coin; mat d. Is necessary Tor
The convenient transaction oil the business o. the cou
Try, and that sUcn circulation can Drst Dc provided
through the continued operation Of the National Sank
Act as atescd by tue experience Oi the past
twenty years.
RcSOircj That the retirement Of United States legal
tenUer notes Dy gradual process not liable To emUaI-
rass the business country, Will De IN accord win
purpose OF the Government al tie time oil tJeF
ISSUE II viii be tae hual step IN psDIng tie iui
return by tho Government 10 con htssi II Will tcud
increased supply o. coin, VIII give free course to
gOld and silver in commercial ami financial currents
and Will afford an ample basis Tor tue redemption ia
CON, demand Of the bank notes Issued.
These resolutions win be discussed At to-mOrrow's
sessions.