Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-07-07
NEW YORK COMMERCIAL ACTION.
Resolutions Urging Repeal of sherman
Act-Committes OF Corporation.
BY .oioHaph 20 the Dlspaiel.i

by .aloaGph % tie Uspatcti
New YORK, July 6.-The special meeting
of the Chamber of Commerce TO consider
the present disturbed condition OF tho
finances Of the country, which was called
for az 1890 o'clock this morning, was
largely attended. The first yice-presi-
dent. Alexander f.. Orr. presided.
John Clafin, the dry goods merchant,
of cred the following:
Whereas this country hos often sui
fered greatly by reason of hasty and Ill
advised financial legislation, and
whereas, 1t is now suffering from the
effects of the silver purchasing clause OF
the Sherman act, which, by creating dis
trust as TO the interchangeability of our
currency based on gold, has caused wide
spread alarm and has almost created
commercial panic; and
Whereas, III consequence OF this alarm
money is withdrawn from circulation,
business is greatly depressed, many mills
and manufactures are closing or pre-
parlng to close. and thousands OF laooring-
men arc about to lie thrown out OF en-
ployment; and
Whereas business enterprises will not
be resumed nor labor be steadily employed
until money can be obtained by manu-
facturers and by merchants at moderate
rates and
Whereas ordinary interest rates cannot
be expected until confidence IN the sta.
bility Of all the money of the country shall
be thoroughly re-established, 80 the lender
NAV not fear payment in dollars less valua-
BILE than those he lends: now be 1t
q" Resoired, That the repeal of the silver
purchasing clause OF the Sherman act.
which month by month renders increasing
ly difficult the maintenance Of the parity
of each dollar with every other dollar, 10
20, ba MT tinn of d n
tional prosperity. This chamber, there
fore. urges the speedy and unconditional
reueal OF such silver-purchasiug clause.
f" ResOired, g That in the judgment OF
this chamber a representative commission
should be appointed by Congress at the
specjal session about to convene. which
commission should diligently study the
whole body Of coinage and currency laws
of the United States and Of other coun-
tries. and report at the regular session OF
Congress. to the end that q comprehen-
siye' elastic currency may be carefully
matured in the hight of the worlds expe-
renee $500
Louis Windmuller moved an addition as
Resolred, That a committee of seven be
appolnted by the Chair to cooperate with
other commercial bodies representing
similar interests as this chamber IN Wash
ington, with power 10 use all Legitimate
means for the prompt repeal OF the Sher-
man law"
Mr.. Windmuller's amendment was ac-
cepted as an addition to the original reso-
luton.
The resolutions were declared adopted,
there being but three votes IN the mega
tive. The nays were William z. st. John.
A. Foster Higgins, and j. b. Colgate.
c. n. Bliss offered a resolution, which
was unanimously adopted. which instruct
ed the secretary to send copy of the re-
solutions TO the President, each member
of Congress, and to all chambers of COM
merce and other commercial bodies
throughout the United States. requesting
early action on this subject by their re-
spectlye associations.
The following committee. called for by
Mr.. Windmuller's resolution, was apDolnt-
ed /: John Clahin. Henry Hentz, e. "A.
Schwab, W. l.. Trenholm. q. n. Bliss, j..
L. Summons, and John Sloan.
The chamber then adjourned.