New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-29
BANKERS APPROVE 1T.
THEY ARE HEARTILY IN FAVOR OF THE
PRESIDENTS PLAN
EXPRESSIONS OF OPINION FROM MANY MEN
THEY HAVE LITTLE HOPE HOWEVER

OF RELIEF FROM CONGRESS

IMPRESSIONS OF OPINION FROM MANY MEN
THEY HAVE LITTLE HOPE HOWEVER.
or RELIEF FROM CONGRESS.
Bankers in this city who consented 10 express
opinions about the Presidents message yesterday
smoke heartily In favor OF f. Generally speaking.
they thought II TIE only feasible plan ~ reeF"
the present alarming situation. Mos; oi Them hal
little hope however Of the silver men In congress
giving to Secretary Carlisle the power to carry out
the Presidents ideas They despair o' getting any
relief from the incompetent. muddie-hoaded Demo
cratic majority In the present Congress. The bank
ers expressed the following opinions.
Frederick u. Tappen. president 81 the GaUa'n
National Bank-I quite agree with all Mr. Cleveland
saws The message IL perfectly sound In every re-
spect The matter has now been placed sglarey
before Congress. ipon whom the entire re~r"nsl-
billy rests II they prove recrcant 20 their trust
they will be held t. account.
J. Edward simmons. president ~ the Fourth Ma
,ional Bank approve OF the message IN every
way. II - just What might have been "Npec'el
from Mr. cleveland absolutely sound In every par
ticular The issue Of any Of the present United
States bonds Is clumsy way Of obtaining relief
FOR the Treasury because they are "A premium bond.
and not specifically payable principal ANA interest
In gold European investors DO not favor hgh-
premium bond. Europe also believes We are going
TO a single basis anl will MOI take our coin bonds
The President Is therefore right In saying that the
and his recommendation that a nfy-year per cent
gold bond should be issued is conclusion based
on good practical common sense. Having issued
500 $1,000 Of coin bonds already. all Of when were
taken In this country without having afforded per
manent relief to the Treasury II is now only figh'
that the legislative body should assume the re-
sponsbllity Of ieiiher avering or inviting disaster
And Congress cannot now shirk It's responsibility IN
tho premises.
g. Hepburn. president Of the Third National
Bank-I approve Of the message most heartily ]
think II IS good and sound and meets the situation.
and II Congress will adopt the Presidents advice II
will afford the needed relief
Immont Clarke. president 81 the American FIX
change National Bank should expect II TO be
useful measure provided too large an amount or
the bonds were not noated at once ! fear. now
ever Congress will not pass II.
George O. Williams. president OF the 'h'm'ai
National Bank think the Presidents recon- 4,
neudations are excellent. II his suggestions are
carried GU, by Congress by an enactment Of icgis.
laiion we shall get the relief needed. We need
lust the remedies proposed Many OF the b'hus
would he taken up abroad.
George NJ. Hard. president OF the Chatham Ma
t,onal Bank think the Presidents recommenda-
ton wise one. something OF the hiH" ""'' w
done. and that soon.
Edward o. Leech cashier OF the National mon
Bank-I strongly favor the Presidents proposition.
! think 1t IL the very one thing that ought to be
done at this moment
Edward Wright. president Of the National Fark
Bank-The Presidents proposition is admirable IL
IS i,ist what wanted ! believe that II VIII re-
store confidence In the Government and better the
condition Of business II the principal and Interest
made payable in gold coin OF rs present s'I' be-
popular and VIII De taken mp II Congress authoih"S
The bonds rs vii vii be- taken in Europe It viii bring
gold to this country .
John McAnerney. president OF the Seventh Ma
bon
he fully appreciates the situation. IL Is singular
situation with abundance Of crops at low prices
and plenty OF money low rates the loss OF conn
dencc In the willingness and ability OF Congress
to reform currency legislation Is so great ihat
the situation IL panicky. business Is improving,
and with a rttle patriotism at Washington and ,
common with our business people. we WIN
proceed with the present slow commercial revival.
Henry Clews-The Presidents message repre-
sents the facts in the case. and his appeal to Con-
gress setting forth the necessities OF the situa-
ton now places the responsibility where IL pe-
loncs II the Treasury continues TO be embar-
ra ssed for the want OF proper legislation IL VIII
be due to the lack OF patriotism on the part OF oar
National legislators, who are evidently willing TO
sacrifice the credit OF the Government ana ,ne
sSns ID mt SUCH should hide
their heads In shame and suffer everlasting , n.S-
Not =" , Se on G ons thu Would be- Sor
onghIy eTectual and such legislation at the pres,
emf time that would authorize the sale OF such =
bond would not De nurt1uI 10 HNlIis sun, IL
II would restore confidence and would beneht ,he
business and labor class interests In every ssc'
Of the country. This country IL the richest In tne
world but the people made TO feel the poores.i
owing TO the want of wise and necessary Natioha'
legislation. ,,,. ,,rono.
Other men who approved the President p asnns
sitions but who did not to give their reisoua
in detail were William A. Nash. president OF tne
Corn Exchange National Bank: T.; M ru' nnh
vlce-president OF the Bank OF the Republic Gnu
Henry w Cannon. president OF the chase Ma
tionai Bank. Harvey Fisk Sons wished 70 .p Se
nwoted merely as being heartily In favor or tne
Residents plan. J. Pierpont Morgan ana 'onn