Asheville daily citizen. [volume] (Asheville, N.C.) 1890-1900, 1893-07-25

VIII he Appointed 10 Attend
Meeting Im washington.
The meeting of the Commercial club,
held in the rooms of the Ashcvillc Club |
yesterday evening. for the purpose Of
taking action concerning the repeal Of
the Sherman silver law, brought to-
gether 80 men. Among them |
were some of the most intelligent busi |
ness men Of Ashevitic. The public gen
orally was invited to participate in the |
meeting, and tho number present would |
doubtless have hccn much larger but for
the fact that the hour for the meeting
had been changed from $50 to p. m.
with but little notice;. w. b. Gwyn was
made chairman, and ]. p. Kerr secre-
tarY.
Maj. NIalOMe's Flau.
Maj. w. IL. Malone announced his
plan as follows:
"Resolvcd, That the adoption of the
single gold standard is detrimental to
the best interests Of the American peo-
ple."
Major Malone accompanied his reso-
luton with strong remarks against the
repeal OF the Sherman law unless a sat
| isfactory substitute is provided.
NHr. FearsOm's Plan.
Richmond Pearson then read the fol-
lowing resolutions, which he thought
sufficiently conservative for all to agree
upon:
| "Resolved, That we favor the imme-
diate repeal of the silver purchase clause
of the so-callcd Sherman act.
Resolved, That in any future coin
age of silver the ratio between gold and
silver should be readiusted to conform
| to the actual market value of the two
| metals, SO that dollar of either shall
be worth intrinsically dollar OF the
other"
Capt. AtkinsOn'e Plan.
When Mr.. Pcarson's resolutions had
been gotten well before the MUD of the
audience, Capt. Matt. Atkinson's idea
was given as follows:
"Resolved, That it is the scnscof this
meeting that Congress should repeal that
section or provision of the Sherman act
requiring the purchase of four and halt
millions of silver bullion per month, and
coexistent with said repeating act laws
should be passed:
IL. Requiring the coinage Of at least
four and a half million dollars of silver
per month from American mines.
"2. Repeating the tax on State bank
currency.
80. Allowing the national banks to issue
currency to the par value of their bonds
free from any expense for redemption.
-. That the secretary of the treasu Y
should be required to pay all demands
| against the government when coin is de-
manded, one half gold and ono half sill
yer (except where the government has
agreed to pay In gold), in order that the
parity OF the two metals should be pre-
served"
NTr. Cheaester,e ReaOlutiOns.
About he time the few advocates o
this scheme had concluded that it Gov
cred their wants, N. p. Chcdcstcr's plan
broadening in its scope, was read by its
author as follows:
Resolved, That the ensuing Congrcs.
of the United States proceed at once to
carry out the four leading planks of the
Chicago platform:
II. BY repeating the Sherman act
and substituting the free and unlimited
coinage of silver.
"2. By repeating the the 10 per cent
tax on State banks.
50. By reducing the tariff to a revenue
basis.
-. BY enacting graduated income
tax"
The MAY Or's Plan.
By the time the Republicans presen
had determined ''where they we're at,
Mayor Patton's plan was read by him
as found in a set of resolutions presented
to the Raleigh chamber of commerce at
meeting held on July 13, and was a
follows.
II. Repeal the Sherman law.
"2. Remove all tax upon circulation
National or State. except as hereinafte
provided, and abolish the per cent re
dcmption fund.
80. Issue ST. 900 ,OO0. 900 of per cent
4O-ycar gold bonds, $56O,OOO.OOO c
which use to retire the outstanding fours
Sell the remaining $40, ,OOO, ,OOO-fo
gold-the proceeds to be held by til
United States government as redemptio
or guarantee fund for all its note issuei
This inspires confidence in the stabilit
of the currency, fixes a gold standard
and insures the purpose and ability
the United States to maintain it.
- -. Make the per cent. bonds bas
for circulation, require the entire capt.;
of every bank to be invested in then
and require circulation to be issued t
, their full par value. This will provit
for an increase in the volume of currenc
of not less than $500, 100000.
"5. To provide for emergencies, ar
for further elasticity. permit Nation
banks to issue additional circulation I
J the amount of their surplus, secured
a deposit of State bonds 10 per cent
excess of the amount of such circulatio
or of U. ). bonds at their par valu
dA lulS SAuulLIO0dl ClTCuidLlOu, NOT Z
cecdIng per cent per annum. SO as
N prevent the volume of currency fro
being injudiciously increased, and to
- sure its withdrawal when not abs
lutely needed.
"6. Retire all United States or N
tional bank notes of smaller denomiu
tion than $40 and issue silver certi
Gates In denominations of ones, tw
and hves-and none larger, making the
certificates, and the dollars which til
.N represent, legal tender to the extent
500. and subsidiary silver coin lcl
tender to the extent OF ten d.
lars"
The Discussion.
And now the speaking began, upon I
resolutions offered by Mr.. Pearson, wi
Capt. Atkinson's resolutions as a s,
stitute.
Major Malone, Capt. Atkinson a
II Hon. II. A. Gudger made strong speecl
v in favor of the Isubstitute, while \
n -