The record-union., 1893-08-23
a9npul Rnki1te 31nipSer.
Gratis, either at home or on the Republican
CIRCULAR To BANKERS.

side.
CIRCULAR TO BANKERS.
New York, Aug. 22.-The American
Bankers Association are now issuing a
circular to all banks and bankers in the
United States stating that the eXtraordi-
nary monetary crisis has constrained the
association to postpone the annual con-
vention called for the 9th and 9TH proximo
at Chicago. This will prevent such ex-
preston upon the part Of the association
as the financial situation demands, and
the officers feel it incumbent upon them
to speak for the association. They say it
is manifest that the immediate cause Of
the prolonged stringency is the fear and
apprehension of disaster engendered in
the minds Of people by the continued
purchase of silver by the Government
and by increasing the issue of its Obliga-
tions therefore redeemable in gold, which
fear and apprehension can only be re-
moved and confidence restored by the re-
| moval of the cause. 1t is believed that
the bankers of the country will under
stand and realize this to great, if not to
a greater extent, than any other class of
citizens, and it therefore becomes such Of
them as fully realize this to urge upon
their fellow citizens, and upon Congress,
the great necessity for the immediate and
unconditional repeal Of the purchasing
clause of the Sherman silver Act.
The repeal of this clause is demanded
in the interests of those favoring o gold
standard and those iavoring the use of
silver with gold, as the continued pur-
chase of enormous quantities of silver
with gold obligations can only result in
the final inability of the Government to
redeem such obligations in gold. and the
continued over production. and in conse-
qucnce the further depre :iation of silver,
thus rendering the prospect of any inter-
national agreement for its more general
use throughout the world more hopeless
than at present. \ blank form of petit
ton is inclosed, to be circulated among
merchants, business men and others.
WANT UNCONDITIONAL REPEAL.
| New YORK, Aug. 22.-The Board of
Trade and Transportation has called a
meeting of representatives of commercial
| bodies throughout the country in Wash
ington. on the 18th Of September, for the
/ purpose of urging upon Congress the
! DuSIuOSS U6CeSSlJJ IOE Inc lnllnGulaI6 ana
unconditional repeal of the Sherman law
1t is also intended to appoints national
non-partisan and expert commission to
| consider the future financial needs of the
/ country.
! FACTS FROM THE TREASURY.
! WASHINGTON, Aug. 22.-In response to
letter of inquiry on the subject of silver
| purchases under the Act Of 1890, Secretary
/ Carlisle has sent to the House of Repre-
/ sentatives to-day a letter setting forth
the following facts: From August Is,
1890, to August l6, 1893, the department
purchased lGl, ,52l OOO fine ounces, costing
4 $3.50, ,GSg, AS The highest price paid was
81 294 an ounce on August 90 1850, the
lowest 80 cents an ounce July II, 1893.
! Treasury notes to the amount of SI50.1I5.-
| 9S5 have been issued in payment of silver
/ bullion, of which STA, 636 have been re-
| deemed in standard silver dollars and
retired since August 3, 1898. Up to Au-
/ gust l. 1893, $40, l64, 100 in Treasury notes
| have been redeemed in gold and S}6, so.
/ 1S5 standard dollars have been coined
] from bullion purchased under the
/ Act of 1890. On the 18th inst. the Gov
ernment owned of silver purchased under
the Act of 1890 1873, 1S1 ,375 ounces, costing
| Sl2l, ,2l7,677.