| Show THE BUS chess mra OF IN 1 I 1 A chamber of commerce I 1 meeting JOHN CLAFLIN MAKES A SPEECH he says tho the country Is through ahr a 4 commercial panic the sherman law etc nyok NEW july jua 0 the business menor men of the tile metropolis met today and considered the H financial md and commercial situation by which they are surrounded tho occasion was ft a q gathering of the chamber of coin merce in response to a call issued bv by leading members who therein declared that the present disturbed condition of the finances of the country calls for fora a public exar expression easlon of opinion by bust business ness m men en as to I 1 tho a remedies to be for the restoration of confidence vic orr presided john claflin 1 arose and said th they ej did not need to be told that the strain 1 c it ba business siness men were suffering from was a severe one lie did not believe chev were on the verge of a com commercial tit erceal panic ft they arbeen were passing pasing through one there I 1 had been many causes he aid kald which contributed tri buted to the present trouble most of them would right themselves in lit the tile natural course of business but there WM was one chief cause which was not included in the cat agory ya and that was the silver purchasing c clause use of the bherman sherman law applause it caused distrust abroad slid weakened chile it strengthened europe lie ile did ill see how any sensible sen bible man wall could oppose the repeal of J he be law any laws that might take lie its place shou should id only be enacted after wise and le lengthy nIlly deliberation cladin concluded baffer by oner ing for adoption some resolutions which recited that tho the country often suffered from hasty and ill advised legislation and was now suffering from front the effects of the i silver purchasing clau clause s c of the bherman sherman act that in consequence of the alarm starlit money was withdrawn from front circulation business was greatly depressed mills and mallu manufactories factories were preparing paring to close and thousands of laboring in preparing tre oring men pien were about to lo he be thrown out of employment that business enterprises will no not I 1 be resumed or labor steadily employed until money could be obtained at moderate rates and ordinary rates could id not be expected until confidence icon in the he stability lity of pf 11 II the money of the country was thoroughly hughly established reestablished re that tho repeal of the 61 eifler ver purchasing clause claue of the tile ab sher er ac act t Is I 1 essential to the prompt res restora tora tion of national prosperity and find urging g tile speedy and I 1 repeal of that clause further that I 1 in the judgment of the chamber a representative commission should bo be appointed by congress at its special session to diligently study the coinage and currency laws jaws of the united states and other countries and report at tile r regular session of congress to the end thai a comprehensive plan for a safe and clastic elastic currency may be carefully matured in the light of the worlds experience an ail amendment providing for a to go ta tot washington and work forthe for the repeal of the bherman sherman law was offered by llewis bewie and a lengthy discussion to followed lowed after which the resolutions and amendment an IP adment were adopted there being but three nays 40 |
