New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-13
BUSINESS MEN IN SESSION.
TIE REPEAL OF THE SILVER PURCHASE
LAW URGED.
COMMERCIAL BODIES AND BOARDS OF TRADE
REPRESENTED IN CONVENTION.

the New-York Board OF Trade and Transportation.
to consist OF delegates appointed by the various
commercial bodies throughout the country, was
called to order at to-day by Darwin r. James,
president OF the NewYork Board OF Trade and
Transportation. About l25 delegates were present
These were almost evenly divided between the
East and West Mr. James said that the invita-
ton extended TO the different commercial bodies
and requested them send representatives for the
purpose Of discussing the financial and Industrial
troubles More than 1900 invitations had been
issued to which at least 200 replies were received
or these replies only advocated the continued
purchase Of silver bullion The others favored
unconditional repeal
Il. II. Warner. Of the Washington Board OF
Trade was made temporary president. and r.
Richie OF Cleveland. elected temporary secre-
tary.
When the Committee Credentials made their
report. IT was found that q states. including the
District Of Columbia. were represented by 10
delegates appointed by 81 organizations
\ permanent organization was effected by elect
Ing the following officers President ex-
Governor f. o. Stanard OF Missouri sec
rotary. Rycrson Richie. Of Cleveland, sec
ond secretary Frank s Gardner. secre-
tary of the New-York BOARD OF Trade one vice
president from each state chosen.
In taking the chair. Ex-Governor Stanard ex-
pressed thanks for the honor conferred upon him.
The business men, farmers and mechanics Of the
West he said. had become satis"cu from the edica-
ton which they had received in the last two
months that the National Government had pur-
chased too much silver. This convention had been
called to urge upon the United States Senate the
necessity for repeating the sherman act
The following Committee Resolutions was APP
pointed by the chair and confirmed by the conven
ton:
Thomas Morrison Cincinnati: George e Leighton
St Louis: William r. Gates. Memphis LATE Pence
Denver: Darwin r. James NewYork; William C.
Cromwell. Buffalo; William Il. Tucker. Phladei-
phia: II f. Paine Scranton. John Randolph Tucker
jr Richmond. Va: ex-(iO' crnor Herbert ladd
Providence: Andrew J. Corooran, Ncw-Jersey; !.
Randolph Anderson, Savannah: +. ID. White. New
Orleans Jonathan A. Lane. Boston: Lynde liar-
rson, New-Haven: r.. .. Stanard. -. Louis.
a motion was carried inviting ex-senator y. p
Hill Of Colorado. to occupy one hour in addressing
the convention. Upon taking the platform Mr.
Hill greeted with applause. His speech was an
argument for blmetalism.
At the close Of ex-senator 1Iills address he was
deused with questions from various delegates ~
to the causes which have reduced the price II
silver and at the same time lowered the price Of
agricultural and manufactured products. Mr.. Hi
did not believe that the multiplication OF labor
sa wing machinery responsible for the decreased
value OF commodities. He admitted that the heavy
obligations due TO England from this country con
stltute a more or ess steady drain upon the gold
Of the United States.
After some general discussion n. X. Slayton. OF
Lawrence Mass. replied at some length 10 Mr.
IIil and gave his for urging tn" repeal OF
the silvcr-purchaslng clause OF tho Sherman act
lie characterized the silver dollar being coined
as dishonest" and said that II could only be par
| aIlccd by a bushcl containing forty pounds OF
wheat. lie considered the annual gold production
OF $50 $4,000 amply sufficient 20 supply our cur
rency requirements upon n single standard basis.
At the evening session the chairman announced
that the Committee Resolutions was ready to
! report.
The preamble reported by the committee recitei
the financial distress which has recently prevailed
and expresses the belief that these monetary and
Industrial troubles are traceablc 10 the continued
| purchase OF silver bullion. Tho committee offered
for adoption the following resolutions:
Resolved That we heartily commend ard indorsc The
Presidents message and tho action o: the House
Representative. passing act IN accor lance with
his recommendation and earnestly IA" s"nac
rnltcd States tho necessity 81 speedily and IN
conditlonauy concuifiug in eaid action.
Resolved further That il the conviction Of the busi
ness organizations represented bv this convention ihn'
considerable delay the Of The Senate or failure
by IL REPEAL the purchasing claus" ~ said low. VIII
plunge business interests Of the country Iatp more
scrioi, ctisi, from which they beginning
| 10
Resolved further. That It Is the opinion Of hi. conven.
ton that only action IN regard 10 this mott which
Il is desirable FOR Congress take az this time Is the
speedy nd unconditional rral o. tho purchasing clause
q, aid law lra,ing for future consideration any further
crort at financial legislation mat It may proceed win
the caution aud delibcraton which j. demanded by me
vital importance the subject TO the welfare OF the celn
Try. and 10 this end onyrnton recommends the oIe
polntucn Of an expert nonpsrt"n commission 70 s"eer'
| the needed l,cislaion.
| The vote on the resolutions resulted: Ayes, 1885,
nays D. .
| committee OF three was appointed ~ walt
upon President Cleveland tomorrow ana notify
hin, that the convention desired to call upon him.
A committee of ten was appointed 10 walt upon
! Senator Voorhees,, chairman Of the senate Finance
! Committee and present "A copy OF their r"so-
| luton. . . a., .A.,..., -, cha
| After a vote OF thanks 10 the chairman OF me
| the New York Board Of Trade and Transportation.
| an adjournment was taken. with the permaneh,
| officers continued and the president authofil-'i
! 10 call another meeting when he may deem IL
proper.
or, TIN, tror.cE