The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-05-09

FLUENTIAL BUSINESSMEN. Advocate
an extra session of congress for the repeal
of the purchase clause of the Sherman law
and act with the other banks of your city
in securing large petition to congress for
its unconditional repeal, per accompanying
FORM Use personal influence with
congressman, and particularly let your
wishes be known to your senator's
The future life of national banks
as fixed and safe investments de-
Ponds upon immediate action, as there is
an increasing sentiment in favor of gov
eminent legal tender notes and silver coin
age.
content with the manner with which the
work was being carried on, it was deemed
advisable to take a hand in the Forthcoming
legislation in the extra session to be called
by the president and the following letter
was issued:
THE AMERICAN BANKERS AsSOCIA-
TION, No. 2 Wall street and 1904 Broad
way, Room No. 44-New York, Aug. 10 1892
To the Bankers of the United States:
Gentlemen : The extraordinary monetary
crisis through which the United States is
passing, which involves the banks of the
country to an extent that compels their Of
hcers to remain constantly at the post of
duty while the danger is imminent. has
constrained the American Bankers Asso-
citation to indefinitely postpone it's annual
convention, called for the 9Th and 18th nrox
at Chicago. This will prevent such expres
sion upon the part of the association as
fin nia1 eli
would be made. 1t thus becomes the duty
of the officers of the association to speak
for it at this time, and suggest what seems
to them to be the proper action for the
bankers of the country to Immediately take
with view to obtaining speedy relief from
the continued and disastrous stringency.
1t is manifest that the immediate cause
of the prolonged stringency is the fear and
apprehension of disaster engendered in the
minds of the people by the continued pur-
chases Of silver by the government and
by the unceasing issues of it's obligations
therefor. redeemable in gold, which fear
and apprehension can only be removed and
confidence restored by the removal of the
cause 1t is believed that the bankers Of
to as great, if not a greater, extent than
any other class of citizens, and it there
fore becomes the duty of such of them as
fully realize this to urge up on their fellow
citizens and upon congress, the great neces-
slty Tor the immediate and unconditional
repeal of the Sherman silver act
The repeal of this clause is demanded in
the interest OF those favoring a gold stand
ard, and of those favoring the use OF silver
with gold, as the continued purchase Of
enormous quantities of silver with gold oh
legations can only result in the final in
ability of the government to redeem sucb
Obligations in gold, and in the continued
oVer-production and CONSEQUENT further do
probation of silver thus rendering the nro-
spect OF any international agreement for its
more general use throughout the world
more hopeless than at present
The president of the United States hav
ing convened congress in extra session and
recommended to 1t such repeal, the power
of public opinion should be brought to bear
upon congress to induce favorable action
thereon. rms may best be done by invok-
ing the aid of the press, and by citizene
writing to their senators and renreSon+.
tives, and by sending to them petitions urp
ing such repeal; all of which should he done
to the fullest extent possible, and without
delay.
blank form of petition is enclosed to
| be circulated among merchants. business
men and others for their signatures. IA
which additional sheets may be appended
Act at once in the matter and secure tho
intelligent cooperation of others, providing
them with printed or type written comics
of the petition for the purpose
Respectfully
WILLIAM H. RHAWN. Prae,t
E. II. PULLEN,
Chairman Executive Council
H. w. FORD Secretary
Is there necessity for comment? The in
teiligent voter is appealed to. Partizan bias
and prejudices must be set aside You are
given the facts to consider and act Will
you longer continue to send men to con-
gress who misrepresent you? Are you
sluggards or are we the willing slaves of
corporations and banks? The farmers and
mechanics should rise up in the majesty of
their manhood and assert their sovereign
rights with the ballot.