The Providence news. (Providence [R.I.]) 1891-1906, 1893-07-13
BOSTON MEN SPEAK OUT.
The Hub Merchants Want the Ob-
nOXiOuS SILVER Bill Repealed.
PRESENT LAWS ARE SUICIDAL.
Strongly Condemned by Unanimous Res
lutions-President whitney Says the
battle Has Already Been Fought and
won-Au Means to Be Used for Repeal.

BosToN. July l3-A special meeting
the chamber of commerce was held yester
day afternoon to consider the silver qurg
lion as bearing upon business affairs. Tb'
attendance was large and President Ken
BILE presided. In calling the meeting
order he explained the object OF the meet
ing. Alden Speare offered the following
resolutions:
Whereas, Since the passage on July IA, 1soo,
of the so-called Sherman act, this country
has fairly tried the policy of purchasing silver
bullion, and a result finds its treasury de-
pleted by the withdrawal OF gold. and fllei
with silver which IL can neither circulate nor
sell, and which Is rapidly deprcciating IN
value, the confidence of the nation and of all
who deal with il Is greatly shaken, and busi
ness everywhere checked.
And whereas, while this policy continues,no
man feels safe in making contracts, Investing
capital, undertaking new enterprises, and un-
less confidence can be restored the gravest dis
asters depriving capitalists OF their property
and laborers Of their livelihood, are likely TO
ensue.
And whereas, II is the merest folly for this
country with It's enormous natural resources.
fits unexampled credit, its annual income of
thousands OF millions. its magnificent crops
which other nations must buy To live. its
and everything that can make IL rich and
prosperous, to allow its whole business life to
be paralyzed by suicidal laws.
Therefore, Resolved That the Boston Cham
Der of Commerce, in public meeting assem-
bled, hereby calls earnestly upon congress,
which is soon to convene, for the immediate
and unconditional repeal of the silver pur-
chasing clauses of said act.
The resolutions were seconded, and Mr..
Speare, in advocating their adoption, said
that it was remarkable that in a country
so prosperous as this was year ago there
should now be so much
Distrust and Depression
in business circles. He proceeded to give
history of silver legislation since the
formation of the government to the pres
ent time He mentioned the flood tide of
prosperity of only short time ago. 1t
was strange that we should now find our
selves in such financial condition. 1t
was owing to no really bad conditions,
but to n fear of what might come on ac-
count of the silver crisis. Mr.. Speare re-
viewed the silver legislation In this and
other countries He spoke of the effect
on gold and gold certificates. IF this
course Is pursued we shall soon have no
gold and silver, which no one wants"
w. w. Kimball, president Of the
Fourth National bank, followed, and said
that this is not a political question, but
one that is measured only by the life,
health and happiness of $4,000, 900 souls.
He hoped that the great cities of the coun.
try will do what Boston is about to do
appeal to their memqerslof congress to TO
peal this obnoxious silver law
without Compromise.
He hoped that the business men of Boston
would hold mass meeting to insist upon
the repeal of this legislation. We must
demand that every dollar in silver is
worth 81 In gold wherever the sun shines.
He said
~ have two propositions to offer. First.
that our statute books need revising, and
let us take the steps to have them revised.
Second, we have in President Cleveland
an able and consistent and powerful and
honest hard-money man. In all his po-
litical career he has based his action on
the sound-money pri rinciple, and within a
few days he has reiterated, i'm terms that
have no uncertain sound, that he still be-
lieves in an honest dollar and an honest
currency; and ask you to stand by him,
and by speech and pen assist him in the
undertaking which he has begun of wiping
this obnoxious and disastrous law from
the statute books"
Collector Beard followed, reading from
a speech he made l2 years ago, in which he
condemned the coinage Of silver coins pur-
porting to be dollars, but which had no
such value. He spoke earnestly in favor
of the repeal Of the purchasing clause Of
the Sherman act and expressed the conf
dence he had in President Cleveland's
honesty, sagacity, integrity and ability.
He insisted that the people Of the country,
irrespective Of party, should
Hold UP tho Presidents Hands
and help him In getting legislation which
will correct the great mistake made when
the Sherman act was passed.
President Whitney Of theWest End road
said that he believed the battle has been
already fought and the victory won, be-
cause we stand in the presence of national
public sentiment demanding the repeal Of
the Sherman act from the Atlantic to the
Pacific. And this sentiment will secure
the wiping out of the law.
The resolutions were then passed by
unanimous vote.
Mr.. Cressy moved that "a commit tee Of
three, the president to be one, shall be ap-
pointed by the chair to cooperate with
other commercial bodies representing sim
liar interests In the chamber in Washing
hon, with power to use all legitimate
means for the prompt repeal of the pur-
shasing clause Of the Sherman act"
The meeting then nd diourned