The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-06-25
TO CONSIDER SILVER.
The Chamber of Commerce
Pauses ON Coinage.
Resolutions Adopted Favoring Great Inter-
national Bank to Facilitate For
eign Trade.

There was special session of the Cham
Der of Commerce yesterday afternoon for
the discussion OF the international bank and
the free coinage of silver questions.
The Committee ON International Banking
reported the following resolution, which
was fully discussed:
WHEREAS The American International Con-
gress has recommended the establishment OF an
American International bank TO facilitate the set
Element oil exchanges ana 10 encourage CONNER
clal relations between the nations represented al
said congress; and whereas The establishment
OF said bank, under United States charters, with
branches at three commercial centers in the
United States, and at the capitals OF other Amer
lean nations. will be OF decided CONNER clal and
financial advantage TO our relations with our SIS
Ter republics; therefore be it
ResolUed, That The Chamber OF Commerce @
San francisco respectfully urges upon Congress
the establishment OF said bank, under such re-
strlcilons as Congress In It's wisdom may suggest
and with such privileges may be safely ac-
corded thereto. i'll order that II may fulfill Its pur-
pose as above set FORTH
RcsotUed. That attested copies OF these resolu-
tious, with the seal Of the Chamber of Commerce
attached, be promptly forwarded 10 the Califor-
MA delegation In Congress ana 70 The honorable
Secretary of State, James G. Blaine, eX Presi-
dent of the American International Congress.
Robert Balfour suggested that the balance
of trade in London would control the mat
ter in spite of all that might be done.
Ira p. Rankin, Captain Chapman, Cap
tain Taylor and others stated that such a
bank would facilitate commerce with for
eign countries, for all exchanges are not
bought in sterling on London.
The resolution was passed with slight
change In the wording, suggested by Mr..
BalfOur.
The following resolutions on the silver
question were introduced:
WHEREAS, The question of silver as circnla-
ting medium Is OF great consequence TO the con-
sIiIuency OF the Chamber of Commerce OF San
francisco and to our fellow citizens throughout
the Republic; therefore be II.
ReSOlUed, That while this chamber IS in favor
OF the increased circulation OF silver or silver
certificates representing silver coinage, on an
equality with gold 1t the established ratio be-
tween the two metals 1t Uie.os ruth apprehension
free coinage Of SitUer lCttbOH restriction as to
the locality Of its production.
ReSOlUed, mat If the free coinage OF silver is
advisable under any circumstances, 1t should be
restricted TO the silver product Of american
mines.
Resolved, That as a method of attaining the
same results In a more conservative manner, this
chamber respectfully urges upon Congress the
passage OF a com promise Dill, enforcing the coin
aye OF tUe millions Of standard dollars monthly
by the minis OF the United States, ecctustUety the
product Of -dBlertCdft mines said coinage 10 be
made fut legal tender and that silver ertticdtes
be issued by the Government for circulation as a
representative OF said coin III the Treasury,
where demanded III reference thereto
ResOt Ued, That lie Chamber OF Commerce OF
San Francisco deem 1t the policy and duty OF our
government 10 encourage lne circulation OF Sill
Yer throughout The republic. jointly and
equality Uith gold at the accepted ratio OF value
ResOLUed, That the calling IN OF United States
bonds having created scarcity of circulating
medium for the transaction of business through
out country, 1t Is The duty OF Congress TO
provide such circulation, and that in no better
manner can this be partially attained than by tile
coinage of 5,000,0 900 silver dollars monthly which
will absorb approximately tile silver product OF
American silver mines.
Resolved, That telegram be promptly sent 10
the California delegation in Congress ana 10 the
Secretary OF the Treasury, epitOmlzing these res
outions, and that attested copies be promptly
forwarded by mail.
Captain Il. G. Sheath was opposed to the
coinage of silver. He believed that too
much is now coined, aud that we would be
going back to the system of the Chinese to
coin silver extensively.
Ira z. Rankin thought that the question
was full of inherent obstacles. He would
recommend limit of at least 100000
month. Mr.. Balfour agreed with Mr.. Ran
kin aud thought that bimetalism in some
form was the solution. He suggested that
the meeting adjourn until Friday afternoon
at . 80 o'clock, and made motion to that
effect.
The meeting then adjourned until Friday
afternoon at 2:30 O'Clock.