It is proper to say that the proposition under consideration was subsequently considered by the Executive Council of the American Banking Association, to whom it was referred, and resulted in a vote of 16 to 3 against the measure. The report of the Council can be obtained upon application to the Association.
The Secretary of the Treasury in his very able and interesting report just issued (December, 1889), proposes to issue certificates based upon the market value of silver. He declined to recommend that these certificates should be a legal tender between individuals, and believed that such an issue would be unconstitutional.
He said: “While our circulation now embraces gold and silver coin and four kinds of paper money, there is in reality, since 1873, but one standard. Section 3,511, Revised Statutes, provides that ‘the gold coin of the United States shall be a one dollar piece, which at the standard weight of 25.8 grains shall be the unit of value.’... Our legal-tender notes have behind them, in the vaults of the Treasury, a reserve of $100,000,000 in gold provided as a guarantee for their redemption. Our bank currency is based upon United States bonds, the principal and interest of which are payable in gold. Our gold certificates are expressly made redeemable in gold coin.”
Kansas City is the first point of interest west of St. Louis, just on the border line between Missouri and Kansas, situated on the Missouri side, but in acknowledgment of the fact that the city is built by, for, and from the products of the “Sunflower State,” it was named Kansas City. The growth and prosperity of this city is phenomenal. The immense stores, packing houses, and railroads—steam, cable, elevated, and horse-car lines,—all combined to amaze us beyond expression. It is difficult to convince a New Yorker that there is any thing solid west of the Hudson River. We found substantial prosperity west of the Missouri. Kansas City hotels are not surpassed in this country. Our host had secured for the party elegant rooms and parlors at the Coates House; but to give us evidence that “The Coates” was not the only first-class hotel in the city, he invited us to breakfast and dine at “The Midland.” We were served in the private dining-room. Would any of us decline a breakfast like that served on Wednesday morning, Sept. 25, 1889, at the Midland Hotel? After two full days of enjoyment and sight-seeing we returned to our house on wheels, and retired to rest, realizing that we should be transported during our sleep to another city and another State—Kansas,—one of the youngest of the sisterhood of States, and also one of the seven surplus-producing agricultural States of the Union.
For the purpose of giving us ample opportunity to witness the growth of Kansas in material wealth and moral power, Mr. Blanchard invited us to make a careful inspection and tour of the State, and see for ourselves if its prosperity and wonderful resources had been fully stated, or even approximately understood, by the bankers and business men of New York.
Friday morning the sun rose bright and clear. It found our car on the side track commanding a magnificent view of one of the finest boulevards of Topeka, the capital of this great prohibition State. We had hardly finished breakfast when eight elegant carriages dashed up to the car. In a few moments we were being rapidly driven up the boulevard to the Hotel Throop, where we were welcomed by manager Doolittle, a friend of Mr. Blanchard. After being shown to our rooms, we again entered our carriages and were treated to a most enjoyable drive through the principal streets and avenues of this most beautiful city. After calling at the principal banks we returned to our palatial quarters at the Hotel Throop, where we were honored with a call by a special committee from the Board of Trade.
The Hotel Throop is sufficient evidence that prohibition does not damage the business of a first-class hotel. Mrs. James questioned the driver of her carriage, a very bright and intelligent man, and his testimony was positive in favor of prohibition as a benefit to his business.
Hon. D. O. Bradley interviewed the superintendent of police. The testimony from the police department showed a decrease in the number of arrests by the police of the city of Topeka. For the month of September, 1889, they were only one half the number for September, 1882, with double the population in 1889.
Mr. Doolittle had prepared for us a special menu. The banquet room and tables were most elegantly decorated with beautiful flowers. We were so taken up with the attractions of the table that the hours passed by unheeded. The telephone recalled us to the stern realities of life by announcing that our car was attached to the Westbound “Thunderbolt” and that train of thirteen coaches crowded with through passengers was awaiting our presence in the “Dalmatia.” We hurried to our carriages and were driven at full speed to our car, and before we had hardly recovered our breath Topeka had vanished and the broad prairie was in sight.