The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-06-16
AGAINST THE SHERMANLAW
The Cotton Exchange and Board Of
Trade Take Action.

Savannah's Business Men Urge the
Necessity for Prompt Repeal of
the Congressman Lester Asked
to Support the Effort-Resolutions
Sent to All of Georgia's Representa-
tives and to the Senators.
If organized appeals to the administra-
tion in power will amount to anything, it
is safe to say that the Sherman silver law
will not long remain upon the statute
books.
The Savannah Board of Trade and Cot
ton Exchange have fallen into line, and
have passed resolutions urging therepeal
of this obnoxious law. This course has
already been adopted by the commercial
bodies in other cities in Georgia, and those
which have not yet Joined the crusade
against the indiscriminate piling up of
silver bullion in the treasury of the gov
eminent will come in shortly, and add
their request to the numerous others that
have already gone forth.
The Georgia bankers, assembled in con-
vention here, passed one of the strongest
resolutions on this subject few days ago
that has yet come forth, and yesterday
Joint meeting of the Savannah Board of
Trade and the Savannah Cotton Exchange
was called at the office Of the board of
trade room to take joint official cogni-
zance of this question, and pass some reso-
luton asking for its repeal.
The meeting was called at12o'clock m,
and was presided over by Capt. d. G.
Purse, president of the Savannah Board
of Trade, assisted by Mr.. w.
G. Cam, vice president of the
Savannah Cotton Exchange. President
Purse stated that the meeting was called
to consider the present strained financial
condition of the country and to take such
action as might be deemed proper and
fitting He stated that he would be glad
to hear any expressions of opinion upon
the subject.
MIR. John r. Young then introduced the
following resolution:
''By the Savannah Board of Trade and
Cotton Exchange in joint meeting as
sembled Believing that the present
general depression and stringency
of money in all sections of
our country is largely due to
silver law; and representing the organ
lied business men Of this city, we respect
fully urge upon congress the necessity for
a prompt repeal of this law, feeling that
a renewal of confidence and consequent
improvement in the financial situation
will quickly follow; we earnestly ask of
one immediate representative in congress,
Hon. Rufus E. Lester, the advocacy and
support of such measure as may be neces-
sary to accomplish such repeal"
Col. Q. II. Olmstead seconded this reso-
luton and proposed to amend it by further
resolving that a copy of it be sent to each
of GeOrgia's representatives in the House
and Senate The amendment was &C
cepted and the resolution was unani-
mously passed.
There was quite large representation
present from both bodies, and all were
unanimous as to the necessity for the
repeal of the Sherman law. The ques-
tion was not discussed at all in the
meeting, showing a decided una
nimity of opinion. The sena-
tors and representatives of the
majority of the states in the union are be-
ing urged to work for the repeal of this
law, and there is little doubt but that the
pressing demands will be felt when con-
gress assemblies in the fall
A resolution providing for the repeal of
the 10 per cent. tax ON state bank circula-
ton was also prepared to be presented at
this meeting, but on second consideration
it was decided not to bring that matter
up at the present time.