The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-07
ALL DOLLARS MUST BE equal.
Gotham's Chamber of Commerce Asks
Readjustment ofthe Currency.

Gotham s Chamber of Commerce Asks
REIMBURSEMENT ofthe Currency.
New York, July "a special meeting
of the chamber of commerce to consider
the present disturbed condition of the
finances of the country, which was called
at 1890 O'Clock this morning. was largely
attended First Vice-President Alex
ander r. Orr presided. John Clafliu, the
dry goods merchant, offered the follow
ing:
Whereas this country has often suffered
greatly by reason Of hasty and i'll advised
financial legislation and
Whereas 1t is now suffering from the ef-
tects Of the silver purchasing clause of the
sherman act, which by creating diStruSt as
10 the lnterChangeability of our currency
based on gold has caused widespread alarm,
based on silver with currency
and has almost created commercial panic;
and
Whereas In consequence of this alarm
money Is Withdrawn from circulation. bust
ness is greatly depressed, many mills and
manufactures are closing or are preparing to
close and thousands of labOrlng men are
about to be thrown out Of employment: and
Whereas business enterprises will not
be resumed nor labor be steadily employed
until money can be obtained, by
manufacturers, and by merchants at moder-
ate rates, and
Whereas Ordinary interest rates cannot
be expected until confidence in the stability
OF all the money of the country shall lie
thoroughly re established. so the lender may
than those he lends. Now, be 1t
Resolved. That repeal of the silver pur-
chasing clause of the sherman act which
month by month renders increasingly difficult
the maintenance of the party of each dollar
with every other dollar. is essential to prompt
restoration of the national prosperity. This
chamber, therefore, urges speedy ana un-
conditional repeal Of such silver purchasing
clause.
,. Resolved, That in the judgment of this
chamber representative commission should
he appointed by congress at the special SeS-
sion about to convene which commission
should diligently study the whole body OF the
coinage and currency laws of the United
States and of other countries, and report at
the regular session Of congress to the end
that comprehensive, elastic currency may
be carefully matured in the light of the
worlds experience
Louis Windmuller moved an addition,
as follows:
Resolved, That committee of seven be
appointed by the chair to cooperate with
other commercial bodies representing similar
interests of this chamber in Washington,
with power to use all legitimate meltns for
prompt repeal of the Sherman law.
Mr. Wmdmuller's amendment was ac-
| cepted as an addition to the original
| resolution.
The resolutions were declared adopted,
there being but three votes in the mega
tive The nays We're William P. St. john
A. Foster Higgins, and J. B. Colgate.
c. n. Bliss offered a resolution, which
was unanimously adopted, which in
structed the secretary to send a copy of
| the resolutions to President Cleveland, to
each member of congress and to all the
! chambers of commerce and other com
mercial bodies throughout the United
States, requesting early action on this
subject by their respective associations.
The following committee, called for by
| Mr. Windmuller's resolution, was ap-
| pointed: John Clafiin, Henry Hentz, G.
! II. Schwab, w. L. Trenholm, G. n. Bliss,
! j. E. Simmons and John Sloan
The chamber then adjourned.