New-York tribune., 1884-03-07
TOO MANY SILVER DOLLARS.
THE CHAMBER OF COMMERCE MEMORIAL.
roNGnEss ASKED TO STOP COMING DOLLARS AND
ISSUING SMALL BILLS.

coycprss ASKED TO STOP COMING DOLLARS AND
ISSUING SMALL BILLS.
The monthly meeting of the Chamber Oh po,,r 1U,n
,,,erce Yesterday crowded. james W. p'OT IN,
nr.sided Ihe following resolutions We're suo
,nitted by the Executive and flnance Ooini'''0'''
jointly: eo....,or ., conmerce
.he stare Of NewYork is desirable that the mstalS
money of the United States should CONSIST 0a d that
nare shmd he regulated in accordance win tue eeus
of commerce and the convenience o tme T1e
TLeTroS The amount OF silver dollars now aCVu ~
q, he Govcrnment vaults is largely III excess OF lne
wants of commerce and wnees1 M psr at nresent as
Wneas The continued coinage of two millions of dol
, ,er month constitutes grave element ofdisturbance
and danger to the financial and c9mnercu interests Vi
'"e Ps"r"d Isl That in the opinion of this Chamber the
public good requires that the coinage Oh sllNer @o 1
should he Immediately suSpeh"o" ny "'' Va N'"eiN' ~
a period of at least two years - -, .,, Ch,,hor Cor
eress should prohibit the further issue OF bls oi snaSI
Denomination than five dollars and thus insure INC SUD
pusaGJ sd That committee of twenty be appointed
nv he chair of which the vice president shall be chair
Whose S5y sGI e S TS to Of Re foregoing rcsoS
lions and cause the same 10 be circulated lot inc sig
nsres and endorsement OF the citizens OF TINS STATE
and also 10 invite the cooperation QI leading commerca
ioiies i'm other states and that said committee be EN-
urge Immediate legislation thereon
Charles S. Smith, chairman of the Executive
Committee Sald, III part:
At the end of 1888 United States notes outS,anuins
were S347 900 900 The silver stored in Treasury h
vaults september 80 1ss3 ana snSe todoV in circi-
Stcn Of United silver coin leaving ,Gade conars 0E
out of this estimate sol 100000 ot 'S f Fhr,aTV 81
1875 up to the Of last fiscal year. ne GOO go Goo has
amounting to Oooo9o iess psr 5nS cent and during
The last year ending the same date only ~ & oi
Smeut vaIts In England Is only legal tender
yor a2 or 80 while with us as WIN France sNei i
legal tender for an unlimited amount
FL Talcott sand that the merchants should go
TO Congress in spirit of compromise, ana ask tnat
silver coinage be reduced one-half for the next iwo
William H. Lyon opposed the resolutions deciar-
ing that if the United states should continue 10
coin silver at the rate OF S%oooooC NOUN or - IN
circulation in France. Jackson ). Schultz ana
Charles Watrous supported the resolutions
The a,tempf On the part OF Congress impose upon the
people OOO 600 bogus dollars Is mpermemn. NJ anu anu wiz ~
represents value OF 90 cents ands wOrhOny "a cents
Tie people of this country will never accept OF y al 0o
radiation politics much as the emission OF
these bogus dollars. .:o ,
of the coinage OF silver II had been the unit OF
value of the worlds money for 4,oou years ne saiu,
and was now universal money. FROM 1850 10
1874 silver commanded premium over goid IRON ia
- TO 7 per cent. If France and Germany sIoulu
cease to coin gold Ill then mnts silver wouid pc a'
Tbe resolutions were adopted and the. following
memorial was agreed upon by the committee whose
names are appended:
States should consist OF gold and silver coin OF inter
changeable relative value, and that coinage shoud ne
rsfcted needs of commerce and the wants OF Tue
people; that the amount OF silver dollars now accnmn
lated i'm the Government vaults largely in excess OF
fhc re0uiremens that II has been demonstrated Dy
experience that this cannot be utilized at present as c
cniatng medium; therefore your memoralists respect
fnv pray that bill may be speedily enacted by your
honorable body which shall provide that the coinage OF
silver dollars shall suspended for period OF at least
wears II ensuing and that In order TO bring into
rod,oI surplus coin now in the Treasury
,he fnrther issne of bills denomination OF one and
two dollars shall be discontinued .,,,,,.- =, w.
James NJ. Brown. Charles :. Smth, lIIan III; TUES
Saml d. Babcock, Cyrus w; fleu. 'eorge - So9Gt
Josiah NJ Fiske, Idmd w C0riless 1orInenuS y;
Gardner II. Colby Aug ~ JtnulaIu IIlI, ~
Henry Hentz John IL InInan M a1A"IuI u,rniSors =,
ID Willis James, motifs n: Jesup noon h"nP"ie'S'
William X. Grace Eugene heDy
The special committee on railroad transportation
adopted a resolution recommending the passage OF
snch measures as will prohibit the granting of free
passes except to railway employees and persons ac-
companying freight special committee on forms ms
of International bills of lading submitted the
skeleton of bill which Congress is to be requested
10 pass which was adopted.