Year: 1878

CINCINNATI. Nov. 22, 1878.


The action Of the committee Of New York bankers,
who met with Secretary sherman recently to consult
about the part the banks to take in carrying
sumption into practical effect. has caused no little
comment among the business men, the bankers and
the politicians here in the ceutral city of the Middle
States. It viii be remembered that it here. and
more than six months ago. that the first announce
ment made by national bank of its readiness to
redeem its circulation in gold and following the
ample OF that bank dozen more gave out that
they were willing to do the thing. Aud with
the example of these Cincinnati banks guide to
ones opinion, it is not difficult to predict the
Of resumption the country In the six months
time that they have held gold in their vaults to meet
their paper they have. all together paid out about
$4,000 to $4,000.


THE QUESTION OF SILVER.


But while the question of resumption in gold ap-
pears to be nearly settled there is the concurrent
one of what part silver is to take in it, which comes
up now and is causing the discussion Ohio fore
most among the Western States in the demand for
remonetizng the silver dollar. year ago this de-
mand was agreed upon by of all parties, and
both republican and democratic members of Congress
from this State worked to that end The time which
has since elapsed may have changed the feelings of
few this topic, but still it is safe to that
large majority of the people Of all parties here in the
West still in favor Of "the dollar of tho daddies"
it was christened here.


1t was both surprise and q disappointment that
this association Of New York bankers acting in
junction with the Secretary of the Treasury. should
at this early day after its remonetzaton attempt to
discriminate against it or try to its abolition
from the coinage of the country.


THURMANs OPPORTUNITY


But there ia another view Of the case, and that is
political one, which will the psngs of disap-
pointment from many Of the democrats 1t gives
Senator Thurman an opportunity to commence his
fight against the national banks which he will not he
slow to improve day two after the Ohio election
Senator Thurman was interviewed by the Enquirer,
and the interview teegraphed to the HERALD, in
which he took occasion to announce that he had
commenced fght against the national banks which
he meant to keep up with all the ability he possessed
This will give him fair footing for vigorous fight,
and he ia good fighter. Here in the West it will set
him far in advance Of any other Presidential candi-
date, whether he wins not and his friends in
bant this fact. 1t is regarded by them part
of the good luck that has uniformly followed him
during late years.


A few interviews with well known Western men on
this silver question will give good idea Of the tone
of sentiment tg


SENATOR STANLEY MATTHEWS


Mr.. Matthews, who is supposed to be the
administration than any else. il opposed to this
the part Of the banks and does not hesitate
to predict that it will end in arraying the people OF
tho West against them as . class. Said Senator
Matthews to-day


ut il attempt by the banks to dominate over the
lawmaking power of the government. They say in
effect Congress and the Secretary Of the Treasury
If you pass laws TINT don't snit will abrogate
them We don't want the silver dollar to become
part Of the currency Of the country. and will
therefore pay regard 10 the law which Gays it shall
be- Such course can only result in antagonizing
the people against the banks.


at cannot have the effect they desire then. that is
TO get Congress TO repeal the Silver Dollar lawY'


'sNo; that would he impossible. The vote by which
over the Presidents veto-wll insure its remaining on
the statute books The people are In favor of silver.
especially the people here in the West and they would
never consent to its abolition or is demonetiza-
tion."


Then it will open the fight against the national
banksf'


..If the national banks throughout the country
show disposition TO indorse the action of these New
York banks IL certainly will array the people against
them because the people feel that they assuming
too great when they propose to set aside Laws
as though they were not made to affect them"


May II not interfere with resrmptionY'


''Of course anything that tends to complicate the
workings Of the proposed plan Of resumption adds
all influences should be made 10 harInonixc in bring
ing about return to specie payments. The banks
have to do their part, aud they must be assisted
far IA possible by the business Whatever tends
to divide these interests makes the problem
dificuit ono: but stil II looks though every
thing would proceed smoothly and resumption be
accomplished without any serious trouble"


sFNAToR BEcE.


Scnator Beck Of Kentucky, who has been here fort
day two route TO his home from the Northwest,
is more outspoken than Stanley Matthews on the
subject


1T becomes serious matter" said the Senator
when the banks can join together and agree to set
aside the law of the lsnd as though they were NOT
bound to obey it as well any else. II shows
that they feel they able to control tho government
Of the countryto rule instead Of being the subjects


"Will they be able to enforce their ruler
ut is likely they will. The power of fifty sixty
banks, such ~ they banded together TO carry out
certain policy very great At times that power has
been able to control the policy of the Treasury. 1t
Is not improbable that they may be able TO keep silver


"I3ut can they q repeal of the Silver law OF
last wintcry


mo. they can not. That law was passed over Hayes
Veto and Congress will not repeal II. The bank power
IN very strong I'll admit in the East, but 10 can't do
anything when II to running against the
current Of public opinion such aroused when
passed the Silver bill veto from the
President Of the United States. Besides this. IL will
raise night against the bonhs themselves that will
not be settled aoon II In the very worst thing thev
could have done il they expect to continue in exist
II arrays the OF the people In opposition
TO them. and riakcs bank antibank issue for
future campaigns


THroDoRE COOK.
Mr. Theodore Cook. for many years president of
the Fourth National Bank of Cincinnati, and also
prominent democratic politician. said


II think there will be trouble in floating twenty
thirty millions In silver dollars provided the gov
eminent VIII withdraw the one and two dollar niils
issucd less than fvc dollars. That would give the
silver chance for circulation and still not make IL
so plenty az 70 be likely to become drug
''But when the banks announce that they will not
take u on deposit, will not that create prcJudce
against the banksy'