The morning call., 1890-06-28
FOR SILVER COINAGE.
The Chamber of Commerce
Adopts Resolutions.
1t Says That Five Millions Month Should
Be the Compulsory Issue on Equal
ity With Gold.

The Chamber of Commerce met at 2:30
yesterday afternoon to discuss the silver
question. Ex-Governor Perkins presided.
The Secretary read the following resolu-
tions. reported favorably by the committee:
WHEREAS, The question of silver as circu-
lating medium is OF great consequence TO inc
constituency OF the Chamber OF Commerce OF
San Francisco and 10 our fellow-cillzens through
out The republic, therefore be II
Resolved, That while this chamber Is In favor
OF the increased circulation OF silver or silver
certificates representing silver coinage, on an
eQualit y with gold at the established ratio De-
tween the two metals II views with apprenen-
sion free coinage OF silver without restriction
as to The locality OF its production.
RESOLVED, That II the free coinage OF silver IS
advisable under any circumstances IL should Oe
restricted to the silver product OF American
mines.
RESOLVED, That as a method OF attaining the
same results In a more conservative manner TINS
chamber respectfully urges upon Congress tne
passage OF a compromise bill, enforcing lne
coinage of five millions OF standard dollars
monthly by the MINIS OF the United States, ex,
cuslvely the product OF American mines, SAID
coinage TO be made fun legal tender, ana mat
silver certificates be issued by the Government
for circulation as representative OF said coin
In the Treasury, where demanded IN preference
thereto.
RESOLVED, That the Chamber of Commerce OF
San Francisco deems 1t the policy ana duty OF
our Government 10 encourage the circulation OF
silver throughout the republic, Jointly and on
an equality with gold at the accepted falio Oh
value.
Resolved, That the calling In of United States
bonds having created scarcity OF circulating
medium for tie transaction OF business through
cut our country, 1t is The duty OF Congress 10
provide such circulation, and that In no better
manner can This be partially obtained than by
tie coinage Of 100000 silver dollars monthly,
which viii absorb approximately the silver pro-
duct Of American silver mines.
ReSOlUed, That telegram be promptly sent 10
the California delegation III Congress and 10 tue
Secretary OF the Treasury epitomiZing these res
OlutiOns, and that atlested copies be promptly
forwarded by mail.
Ira 2. Rankin proposed a substitute reso-
luton making the coinage OF 4,0O0,000
month compulsory. He said that Imitation
was dangerous.
Captain Merry thought that Mr.. Rankin's
fears were groundless and that the resolu-
ton ought to pass.
NJ. M. Estee said that we need more
money, owing TO the increase OF population
and business. The circulation is now but
SO per capita, while in France 1t Is SAT;
We deal with nations that use silver, and
if we are to reach out for the trade OF the
Nine-tenths of the silver comes from Amer
lea, and there is no danger of too much Sill
yer. There is not too much produced.
X. q. Sheath introduced resolution,
which was not seconded, providing for the
st0ppage of silver coinage. lie said there
Is too much silver now, as evidenced by the
low interest.
Captain Taylor was for the resolutions.
The resolutions as reported were adopted,
and the meeting adjourned.