Morris tribune., 1885-02-04
f.. w. RANDALL,
THE SILVER QUESTION.
A BETTER FEELING IN FINANCIAL CIR.
Giles ON THE SUBJECT.
The Clearing House and Silver Certificates
Action of the Denver Convention
Favorable to Unlimited Coinage
organizing for BIZ
Metallism.

WASHINGTON CITY, Feb. 2-As the re,
suit Of the conference at the treasury
department between Secretary McCul,
loch, Treasurer Wyman, Assistant
Treasurer Acton, and the prin-
cilal officers of the New York
clearing house there is better
telling in financial circles as to the outcome
Of she troubles which have arisen over the
refusal in the past, on the part of the clear.
ing-houss, to accept silver certificates. It is
now believed that the danger Of crisis has
been averted, at least for awhile.
Secretary MCCULLOUGH seems quite we'll
satisfied with the present aspect Of affairs,
and does not seem to think there is any >eri-
Gus danger Of the gold and legal-tender re-
serves becoming any smaller. Some Of the
treasury officials have been desirous for
some time of compelling the creditors of
the government to accept silver certificates.
They say they do not see any justice in re-
QniriAg the government to accept silver
in paymen Of customs and other dues.
and then to compel the government
to pay out gold and legal-tender notes
in settlement Of balances against it.
Sooner or latter this point had to be met,
and, according to what they were now ad-
vised was the result of the conference Fri
day, the government has secured its point,
and the banks will now receive silver certifi-
Gates in preference to taking the silver itself.
For and Against Free Coinage.
DENVER, Feb 2.-The proceedings at the
closing session Friday Of the national silver
were orderly and harmonious,
none of Thursdays unruly spirit being man
ifested. The resolutions adopted declare
that the interests Of the country de-
mand unlimited coinage of gold and
silver bullion at the present standard of
coinage; demand the withdrawal from cir
culation of all 81 and 50 bills; condemn un-
lawful evasions by secretaries of the treas
ury Of the provisions of the Bland bill; that
the national bank act be so amended that
said banks shall keep not less than 16 per
cent. Of legal reserve in a national standard
silver coin, and that the redemption fund of
said banks shall be in silver coin, and that
these demands are based on no mere consid-
sration OF ssctionalsm or protection of any
particular industry, silver needing "no such
protection as is accorded to the
osmpered industries Of the east" A
was also adopted earnestly re-
luesting President-elect Cleveland to select
'ome statesman for secretary Of the treasury
who will not be in the interest of national
banks and eastern brokers, but will strive to
the interests Of the whole people, in
'tead Of consulting only the wishes of Wall
'trset magnates."
It was decided to form new organization
% be known as the National Bi-metallie
whose object shall ba the secur-
Hg of such legislation as is demanded in the
resolutions passed.
WASHINGTON CITY, Feb. 2-The ma.
ional board of trade, after considerable de-
'ate, adopted the following proposition
"That the continued coinage
II dollars from 4121s grains of silver
threatens the permanent depression Of our
rational standard Of value, for which reason
congress is respectfully urged to repeal the
aw making such coinage compulsory"