New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-01

rooulrcd Tho hattie for sound finance Is not to pc
ensIly won IT IS admitted, especially wien Hc" o'"
rcncy policies to be put into force.
WHAT TIE DELAY HAS PERMITTED
The delay in assembling Congress, It Is now seep'
has pormItted new and serious e nent 10 DC '"r"
into the American situation, namely, tha' VI ' ~
ton OF India In abandoning It's policy OF coi""e 49,
for private account. The naclion OF the Nu'"''''
lion has thus permitted complication wnen % NV
wholly to no reckoned with, although wall ouee'
circles believe that the British policy VIII s,re"s'"
the demand for cessation OF silver pu'''i' 80
the Government. The question Of WHAT shal ''
place the sherman law has yet been niue ui',
In the banking world. The simplest methoo VI P
yiding for currency needs, IL Is urgad D! paN'i''
10 permit the National banks to issue notes W ''
par value OF the Government bonds u'Po'''S" "
security such n measure would instantly aou AT
Ieos, si5 600 900 to the volume Of National 'ahh
note currency I'm this city alone. reduction vi
the tax on National bank note issues 10 '"in''"
sufficient TO cover the expenses OF the ""e'"'e
Department concerned With these issues "ou'" io'
II Is held he stimulus to an Increased drcuia"oh
medium But here bankers realize that they are
confronted with a contest between u UNIFORM va
tonal style OF currency and the advocates Vi thc
d. viIdcotr state bank note issues called Tor IN inc
last platform OF the Democratic party
HENRY W. CANNON's VIEWS.
Henry W. Cannon. the president OF the Chase
National Bank one OF the few bahRihe o'"o'''
I'm the city when tho news Of Mr.. CevelandS oe'er",
nation 10 call an extra session Of Congress 'e"o"ou
Wall street. Mr.. Cannon said 10 iripu"e 'e
porter 49,
-, hove inst heard the news. suppose that
,,, PRECEDENT Is now certain that his financial polic'
will be carried by Congress. else ne "ouu noe
have called the session for 80 early Il d"u. nav"
known FOR some time that he was thinking Oh
Ia.
decided TO do until he was sure OF ms S s
II would not have been at all beneficial 10 naVe o
; ssIon called and then hav" II followed WIN '' ,
arguments the silver question. expect 'nat 'ic
silver law will he repealed" ,,
National Bank. said 1t Is the very best thing that
could have lccn done. ! thlnk ths fIe,ia'no ' ~"
taken, II /, an exceedingly wise step. The effect
cannot but be beneficial and 1t undoubtedly WIN naTe
u .rong tendency toward restoring COlhuchCc 'Ho"eH
ont the entire country.
WHAT HARVEY FISK SAYS.
Harvey Fisk. OF Harvey Fisk d Sons. said
The news received late this afternoon that Mr.
Cleveland will Issue IA proclamation omorrow' con
vcnng Congress in extra session on August - VIII
cause great rejoicing and general satisfaction through
out the land The tension among business houses VI
all descriptions has been great In TIA" last lew Gays
TINT the welcome that at last radical step mas
been taken in the direction d ne repeal Of the silver
act will do much to restore confidence and protaDy
unlock much boarded money. The responsibility VIII
lee placed where It belongS-on CongreSS-and ] be
.y. LINT Congress will not disohcy IN" mandate
Of the people. lc>. the country l. 10 Dc cohgra'u
lated n rh, report Is true; ana mink u Is, .,
James g. Cannon, the second Vlc'W",iu'i1 vi
the Fourth National Bank. had just heard 81 me
news when a Tribune reporter saw him at the BANK
What do You think about the can h' WIS
It IS excellent" he replied We all hope that
the silver law VIII be repealed. - tho h,nn
wsS nj OF the city but Mr. Cannon said that he
concur ID he,rtily in this opinion.
VIEWS OF OTHER BANKERS
4 u. Hepburn. The president of the Third National
Bank had gone away for the day when the report
reached Wall street. the cashier OF .hc bank,
Henry Chaplin snd T. The Tribune reporter:
Il hnve not heard OF the call ion ar the first to
''. What do you think CIngrcs, will do"
Il hope that II will repeal the silver law
pcs Nj. Hepburn hola ihc IAN sam yl"" ~
Sir. Cleveland finally Ia, decided TO do some
:" him to call an extra session q Ccngrr. and
ss,tlc this question He finally has determined to
''s@ o IS the R""P onrrc r,S' TIE 'po'''0 "'
hef7rc IT became known TINT III" rrrsidcn, had
Congrcs, members Of the Chamber of. commcrc"
circulated petition asking Alexander +. orr the
her Tor next Thnr,day. ~ take action in rela to
the financial situation The letter and the sigma
lures 10 the call are rs follows
Mr.. Alexander T. orr vice.President Chamber Of Com
Dear ST.: The present disturbed condition Of the
finance. cf the country. brought about primarily by tho
enforced pure useless silver bullion ana III" conNe
qucn ability o. the Government TO pie>cr'a
the gold standard calls 70 pIblic expression Of opinion
by IN the remedies to be apphf for the
fe'toratlon a. confidence
That opportunity b. aHo dct for this purpoS'
undersigned e,p'cully request 10 coll ,rcio
meeting Of the Climber Tor Thursday, the 9th inst, a,
haf.p,St T. o'clock =. M.
Your obcdicnt serl ants. john Clafin. Cornelius y. |
Bliss, Woodbury. Lang on. Loul, Wndmnllef. W. ]. !
Hatch Andrew MIL. william T.. u, dgc. Dumont Cake.
Ocorer C.. Macoun. J. Edward simmons John IL. Imam
Warner Van Noricn. Charlie, Laniot Il. !. Wilson. |
John Crosbv Il own. lIcn,y Hcna, Il g. Roston T.. d.
Morgan & CO.. Frederic TAYLOR charles = Fairchid |
/. +. Ocott. Jacob II. Schlr w. H. Trenholm j. Pier |
ront Morgan. +. d. Tsppen ana Olive :. Cartr.
The following table shows Tn" names Of mining com
panics pay ing dividends In June AMI January
1898.