The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-08-30
A BANKERS MOVE.
Monster Petitions Urging Congress Go
Repeal the sherman Act.

Repeal the sherman Act.
NEW YORK, Aug. 22.-The American
bankers association Is now mailing
from it's offices the accompanying circu-
lar 20 all banks and bankers In the
United States:
NEW YORK. Aug 10. 1898.
To the Bankers OF the United States:
conference.-the extraordinary none
tary crisis through which the United
states are now passing, which involves
the banks OF the country 10 an extent
that compels their officers 10 remain
constantly at the post OF duty while the
danger is imminent, has constrained the
American bankers association 10 In
definitely postpone It's annual conven-
ton call for the 9Th and 7th prox at
Chicago
This will prevent such expression on
the part OF the association as the finan-
cial situation demands, which otherwise
would be made. IL thus becomes the
duty OF the officers OF the association
10 speak for Il at this time and suggest
what seems TO them to be the proper
action for the bankers OF the country
10 Immediately take with n view TO OBJ
taining speedy relief from the continued
and disastrous strlngency. IL Is mani
fest that the immediate cause OF the pro-
longed strtngency is the fear and appre-
hension or disaster engendered I'm the
minds OF the people by the continued
purchases of silver by the government,
and by the unceasing issues OF its OBJ
legations therefor, redeemable In gold,
which fear and apprehension can only
be removed and confidence restored by
the removal OF the cause. II is believed
that the bankers OF the country will
understand and realize this to as great.
IL not a greater extent than any other
class OF citizens, and II therefore be-
comes the duty OF such OF them as fully
V~aal fZa n their follow
citizens and upon congress the great
necessity for the immediate and uncon-
ditional repeal OF the purchasing clause
of the Sherman silver act.
The repeal OF this clause is demanded
In the interests of those favoring a gold
standard and Of those favoring the use
Of silver with gold, as the continued
purchase OF enormous quantities OF sill
yer with gold obligations can only result
in the final inability OF the government
to redeem such obligations In gold, and
in the continued overproduction and
consequent further depreciation of sill
Yer, thus rendering the prospect of any
international agreement for It's more
general use throughout the world more
hopeless than at present.
The president OF the United States
having convened congress in extra ses-
sion and having recommended to II such
repeal. the power Of public opinion
should be brought TO bear upon con-
gress to induce favorable action thereon.
This may best be done by invoking the
aid of the press and by citizens writing
10 their senators and representatives,
and by sending to them petitions urging
such repeal; all of which should be done
to the fullest extent possible and with
out delay.
A blank form Of petition is inclosed
TO be circulated among merchants, bust
ness men and others for their sigma
lures. to which additional sheets may
be appended. Act at once In the matter
and secure the intelligent cooperation
of others. providing them with printed
or type-written copies Of the petition
for the purpose. Respectfully.
WILLIAM II. RHAWN, President
II. PULLEN, Chairman Eek. Council.
II. w. FORD, Secretary.
The New York board OF transporta-
ton has called a meeting Of representa-
tives of commercial bodies throughout
the country to be held in Washington
Sept -, for the purpose Of urging upon
congress the business necessity for the
immediate and unconditional repeal Of
the silver purchasing clause Of the Sher-
man law.