New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-09-24
MANY BANKERS IN COUNCIL.
THE COINAGE or SILVER DISCUSSED.
ADDRESSES by LYMAN J. GAG ., EDWARD 6. LACEY
AND OTHERS

his city president or tao association, no delivered an
address touching upon he and other iater
likely to engage the attention OF the delegates Mr.
Abbot spoke rart as follows:
There is II wde-prea,. cling that the Laws Of our com
mercirl life su''cirh,y un '"rs'"o'I' aud grow
ncici that m"fu '""r""s c"nrfr"rmSlLh nf lhr'c
ignorance has 'uvIaI IL IL TINS >cnt.uIemt tnt g''rs
strength TO your ASSOCIATION among bank rs. ani
MUD. There Il aisJ ddck uDnc instinct when per
REEVES that him;'la yon nave large share III the
direction Of force luUrncU which, next u las
puwcrs Gi Sien sind eacIirliy, has been the most
en- pio.Go.lng the material progress Of the last nali
the he ndlr or this power or
inliuru Is tre Iii. Ii II c,thDol cHln pi"c" ~ q
p.,y Sr.h rnsIgy may be II seed an iIlnenfe whch
las mH.iC pl steal rTyrgy elective Ia su"aj culSi an
mfnrn,e Without Wh"sc iL'ervthtiOn ana cO-Opelatlo"
the riumps OF mechanical "rce7 w"nid have beeii
h;if tCheN ed In iId iiSai way IL lhhy Dc shid
.r,, t,.,ster OF cnpi- Al fro point. wer. it Is east
IeuuIred 10 lniut II Is must fr'Iniicii ff""
pussrsslul 1t ies Inert and uufioiucuye to
productions: withdraw it fro. tho control OF tue
imn!rnl nnghgnrl ANA place 1t Under the direction
~ tn trrnr,.i, All ,urr .iir N VI dues accomplish
these euIted to recognition AS AL economic
I.nrv ~ crauir t,ere has b eu brought to tbs great
Work Of riliuad panty iTum tue savings u
T, i..d t.c q -i -Iti OF I,y 600 as evidenced
Ia hIndird oth'i va, credit has aiel III ,bdiih%
tho wilderness, ii-ing 1t III Tor tnr hahitntI"n 81 civil
lied MAJ IT dotted Irric. with srh"ui house;
II has ditCdt TlvcIs; mas hut cities. ald II
ire has ic,lfuy rnrrnt Influence III credit
has brorgI new millions the work OF rccun,ir"cion
Tuo almost magical r t"lhii oi the city ""ei- Suh ave
to-day ,eInucd il eloquent wines NJ the last
piupO,ii.uu. iar CIVIL gave 10 the PROMISES
OF tho Government p"wu. suhccmt To ulnG lhlu NE
public treasury tuu in ~ tt"ut $4,000 100000
br mp and forever lost liz tue destructive
vortex Of
fl Is tr junction Ok crcui' tn f-nsGr capital. and To
that sub-tTa,l office II l. II icty h,uird The mah}
In .truiueu Of crrdt Nlnc ui aud usage hn'c dr'rl-
ue known uuuer HE uane ~ bouds u"t"-' drl's
checks aa NILS ul Ncan- &c nome "f then nor all o
them to-athc any a'-" ute Hdi'iou to the Hi"c" "i
wealth. In hands o. q. ""der they -crt' ~
evIdcncr that parted with iurtn of capital l"
anntnrr: aud IA many ius auc's thci ace tnc moi
auchoIy ~ drnrrs inat he has cartel WIN ioItvrr
The criticism viii apply W." rc'ai force {" paper
money, rhrtier klIoTh ~ 'r!,ual hanA n"e- "r aS
the much fc'rrrd CWenn'r h"ih ar cfr''t "hil-h,
lions pure aid simple. Thy IRE not 81 'a"r. rac'p
~ u Irr,nl~r may Of value. and u" vain" Of my
promise however s1crcd. rr- not u" H. iS hhi ia u
rel ,tiun the thing promised Toe tact that tGcHr
NdII''' ~ .", --,'I -! 49,. ,,, "a, 81 t..r
exchange Tor property ana ht u"H l"t '' 81 ,n',"
CONGREGATIONS Tho fact int thcr are ~ toc' ivch
simply re' the general confidence th" ihc thhE
sn rId not br fnrgut,i that n'rrrc hct"ecn the
act AMI tue I ct tsef The m,s'Pp Extensions
THEORIES Of TIA" late ad'oc'tc OF nat cur
rcncy." and gave n"h-i'e character 70 tI",r
induced legislative uiics 10 group together - equally
proper ulcrt~ nf tNati'p thing" themselves ana the
II this agent or iun ucc r.dl cred accomplished
such advantageous rc-dit' IS certainly Wise L" study
prchedl II Ne can the dausr - II ans theo br wh''h
Among f,y"riu; r,,,lrlon- may named four in
Il hi Il degree iupoIsaut.
Frst"G .ronuci,l and orderly state. where life
aud property hud SAFEGUARD under tie faithful enforce
S~romd"H general Intelligence and a generally devrl-
onci moral -eu-r SItfcrpt enforce IN tho average
Indlyll ll tn" dictates ~ honor aud GOOD fIith
T,u-A condition of inIu- RS aHd trad" vnicl offers
fair Ie var 10 those SBu engage pursuits.
endowed IN the nj -hr-' possible decree Win quality
~ unVarvirg or uniform N.t.ur.
hnv,. named - au inporttut condition requisite 10
the aivanttgrou. operation ~ r~ita Lawful ynrrruc'
or STANDARD OF endowed iu iu" hgur-t u-,lnlr
lrgrrr with aryins AM "rn value Unfortunately
AZ this very mpmcut "m iuIi-'rtd a"t cr'it system
new AID adjustment j. heli harA ~ ti" threat
enc Invasion OF money -'d' lil H "u''h I"' ''s'il
ton vtl not arplt. The '"pr-- o; tue G"vrrnmrut
nr"n IN the continued ,ona-' %, .iI'cr Il carrying Us
cntr' ur G Ir.i,atc, fc r,ub. IN uudcrttkuls
business langu'ue- nui 80" '.' c'hnt or waiting hiu-
tudr l. everywhere Observable.
wise lawyer once .,lI th,' the wI-c-t acts ~ esi,a
tiln 81 he t's' wbcH repeated - nr p'Ni,H- act 81
mat IA. Immediate rcur,l o. %" SILVER Cnluhs" act
would DO most uuc, Illustration 81 tie trntn Of his
maxim.
Tne Executive council offered the following:
Kesoiucd Tat It Is 10" "n' OF ia" convention hat the
col axe "t -.'tr a"I' u.H'' ~, 'o'ml ,"'S "a" y"
4 eope aud dsu-r..,Hs t. the ~riisro %.
he ir,lnr,lIaey ,u.IcuI~d. and remain imperative
until INTERNATIONAL r'nrnt 81 .rad"s comnrir'n'
Nations shall -n>iln DC Assurance "' 10 tue future
relation OF gold ant ,IiN"raS n"n'y.
Co.on,I w. t. Trclhom, 81 Charleston, 9. C., opened
the .cus,ion favor ui the restitution IN regard I"
tho debtor class, aud the po- prurts accruug 10 It
by TIE change OF the money STANDARD. lie sid:
The MY Did mili Of people n,n'nuug tue United
States ia chrrn l"r may mon - ana are Sti l"
IN ., Of cdtistrOpu" J' "uJ a lew thousands
ccy Interested t. try uudrrVt tud IT, ami {" All ia
aver,ug IT, THc cat"s r"p"e Lrpf"hr"d"l - lAc secIu-
md the consequent luruI 0f Tho basis OF value To
thaL nf the present silver dollar.
asses OF population II certain ad yet there seems
to be- una couutabiy. noii"n aiming l'r people gen
.sttt
n, harm. may even benefit some classes especially
II has been said that debtors will galn-but what
debtuf. Jhr banks uf dri.o- National. -iatr aud say
iug. arc inG, idualy and coii-ctivclJ debtors on
larerr scale and To- a gratcr mount than any Oh'r
COMMERCIAL financial cdH-. Al oi These are drhtIH
:" their drpnsl,ors and all Except savings bank. that
have The siI,-iay clause their deposit receipts. are
bound under h'ayy pruaur. 1" Pas tlrli d'Pusi's III
lawful money demand. Now, ho" can lhc-c u"ntoiS
paiu by deportation OF tho curreucy As AN offset I"
hat they their drIu-itO they mold currency ANA
mo not \ Of indivIIu.d-. hruIs aud COMPUTATIONS.
hen they have pad their drpUsitOr- the currency "n
hand AMI that received IN settlement ni their discounted
paper they will Simpy nave executed MINIS IaI
True The d-postrra Will lose, but he bank
cannot guu-tuc $3.50 IN bank which wll now ,ny
sterling bill for 400 VIII thth buy Oh aN1 III s"IlnS
Int that IA the dnk. II does not uINr the
other al7. Bat II bank nap-ns to y" gold depostrl
Dy It's customts. ana H. ~ L. may Pr"pol'y II" al" i
deed should de-, under present circumstances, IL Ma.
laid tina, gold ASIDE when the catastrophe comes IL
viii bo able 1" realize prom n TUE tou ny hei.ns ~
premium aud paying the dep sliorHlh the mohei Con
gress pres, rbc. Auon2 ,his lar body OF debtors
therefore only those b"hH an gam any .nh w
probation which happen {" be now ho"'hg "a htn'k Oh
senators and Rcprcsc talNe$ exposing the whole
rouutry suffering and calamity Next 10 these debtors
in magnitude Of obligations come the various 5tilcs'
" In their counties 't, all IN debt To their own
pcnplc The buhd- Of thes" debtors constitute gcncf-
y the sole dependence ul families ana ot cldblr In
.iiiutiu, n these debtors gain thcr creditors VIII lose.
this drSrnble Il II honest Is II decent a. an 90
e,tiyo llpiut Of national policy Bat how can the
ates or cities gain any mare thau Tie binksi lhcr
treasure, are uuuduits. These debtors pay Tue
tcrr-f on their bonds In what they receive ~ payment
M taxes whether II be odd or copper Is iumdclla NJ
me moment, bui they ana AL who have 10 maintain
l,N n a.
nan Of cr credit hereafter, HhOul they omit 10 signal
ne their obligation hy paying their interest ~
nld az the state o. lisEIChsrt id during the dHyt
NJ the last national suspr,un VIII tie great railroad
and other corporations gain which the debtors To
Ihe rul,,ic m such vast sUm,I They too VIII pay what
fncy rrcglyc-if they gain Il only be by charging |
Inc uubr for rcglt and passenger iifcS more III inc
lated currency than they charge now. Is TINS
Icslr,br thingl VIII this rcsult OF The Bland law III
,rcase popularity OF It's supporters ANA defenders III