THE BOARD OF HEALTH SUSTAINED.

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The rules were again suspended on motion of Mr. THURBER, and the resolutions concerning the National Board of Health, which were laid aside yesterday, were taken up for consideration.

Mr. YOUNG, of Baltimore: Inasmuch as I had some misgivings as to what the real object of this Board of Health might be, and what its purpose might be, I will state that I must now acknowledge myself in possession of some information on the subject, which I did not have yesterday. After a long, enlightening and instructive interview (to me at least) with Dr. BILLINGS, I must confess that I believe this National Board of Health will bring about results which must be beneficial to the country at large, and that it will very shortly shed much new light upon subjects which have been, and still are, imperfectly understood by the general public, and even by the medical fraternity itself.

I had also something to say in regard to an aspersion which was cast upon the city of Baltimore. Through Dr. BILLINGS I have learned that the author of that aspersion is a foe of our own household; that he is not a member of the National Board of Health nor of the National Sanitary Commission; but that, on the recommendation of some officers of the city of Baltimore, he was appointed to make an inspection of some supposed deficiencies in sewerage which were supposed to exist in the city.

I am further gratified to be able to state that Dr. BILLINGS' opinion is that the prospective dangers of Baltimore in that respect are no greater than those of other cities. I shall certainly vote for the resolutions with very great pleasure.

The resolutions were adopted.

On motion of Mr. THURBER, the PRESIDENT was requested to appoint a Committee of five to consider the various propositions on the programme relating to a bankrupt law; also, a Committee of five to consider the subject of postal telegraphs.

The PRESIDENT announced the next business in order to be the motion made yesterday to postpone further

consideration of article III. (as amended) upon the programme, as follows:

Resolved, That the further coinage of silver dollars ought to be discontinued until the surplus of the same in the Treasury shall be reduced, say at least, to ten million dollars,

together with Mr. WINSOR's amendment:

Resolved, That all silver dollars presented at the Treasury should be redeemed in gold, and that the coinage of such dollars should be discontinued.

Mr. NOURSE, of Boston: I beg to say here that, with an experience of some years in this National Board of Trade, I have never before known of any such summary dismissal and disposition of questions deemed important by any considerable number of its members. I wish just now to present, in better words than I could probably use, something that I found in a New York paper:

"There is only one remedy,—the heroic one. Repeal the silver dollar coinage law. The dollars now out would retain their legal-tender character safely when the danger of an excessive sum of them had come to an end; in time the people would take them into employment, and they would do good service.

"Events have brought about a condition of monetary affairs in Europe, which we have from time to time distinctly foreshadowed, having an important bearing on the policy of our silver legislation, and in turn to be greatly affected by that legislation. During three years short harvests in Europe have coincided with abundant harvests in America. This fact, concurring with others of great moment, just when we were preparing for resumption of specie payments in 1878, and the succeeding years, has kept our gold production at home, and, besides taking home our public debt once held abroad, has drawn gold from Europe to an extent which is exciting grave fears in England, France, and Germany; it is becoming questionable whether European currencies and business can be sustained on the basis of the gold standard alone, or if the great national banks can retain sufficient reserves without ruinous advances in the rate of interest and curtailment of business, or resort to the bimetallic or silver standard again.

"An opinion has been expressed by high European authority that if the United States would adopt a bimetallic standard and free coinage of both metals, Europe could surely and safely retain the gold standard, because the United States would lose all her gold and keep only silver coin. Thanks to the Senate amendments of the BLAND bill, we escaped that catastrophe. But now the converse of the above opinion seems to be true, that if the United States hold to the gold standard, and, retaining our gold production, also draw gold from Europe, then Europe (or at least all but England, as before) must

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again become bimetallic and restore the old ratio of value, 152 weights of silver to 1 of gold. This done, silver bullion would again be worth 60d. gold per ounce, and the silver products of our mines would be worth 121⁄2 per cent. more than they are now, and probably 25 per cent. more than they would have been if the United States alone were bimetallic and Europe were on a gold standard, as was inevitable under the recommendations of Senator JONES' Silver Commission of 1877-8, had they been adopted by Congress.

"At this critical moment, the right action by this Congress may decide the action of the great Powers of Europe on the question of mono-metallism, with its contraction, distress and poverty, or bimetallism, with renewed prosperity all over the world to the great benefit of our country in the larger and better markets for our productions."

Substantially, that is all I am desirous of saying, as bearing upon the international importance of this question, just now, and its present urgency. In order that the silver dollar, such as we have, may be taken into circulation, it is believed by very many of our business men, that if the coinage of the silver dollar be stopped at the present time, or very soon, such dollars as are now coined will be readily taken among the people. It is only the apprehension of an accumulation of dollars already far below their nominal value as bullion, and liable to further shrinkage, which now prevents their general use.

When the people, and especially the poorer and saving classes, wish to lay by some solid money, there is nothing so good for them as the silver dollar, if it will not shrink in value. It is large enough not to be easily lost; it is not so perishable as paper, and it is eminently useful.

I wish to make this proposition, sir, as an amendment, or rather, as a substitute for the pending motion, that the subject of Mr. WINSOR'S amendment shall be laid aside for the purpose of entertaining a motion to take from the table the propositions placed there yesterday by a vote of the Board, for a renewed consideration, with the earnest hope and desire that they will receive here, by this National Board of Trade, such thorough consideration as will enable us to act upon them intelligently; and that there shall be no attempt to stop any discussion of the subject, until that consideration has been fairly given.

I hope the gentlemen representing the various Boards here, will give each of them an expression of their several views upon the subject, upon the merits of the question; and that you, yourself, Mr. PRESIDENT, will also give us your views from the chair.

But, before proceeding to make my motion, I would speak for one brief moment in reply to something that was said of a practical nature, by my friend from Philadelphia (Mr. BUZBY), upon the effect of the fourth item in the Philadelphia proposition, upon paper currency, which seemed to make some impression here yesterday, as to the effect of any recommendation that we might make now, upon the measures pending in Congress for a refunding bill. If members will think for one moment, sir, of the impossibility of any effect whatsoever, from any of our action, or from any immediate adoption by Congress of an enactment of what we should recommend as to the contraction of our paper currency, they would see at once that there is no force in that objection to its consideration, now. For, if Congress should at once make provision for the redemption in gold of every legal tender note, it would not be put in a form to compel any body to come in and take the coin. It has been open since January 1, 1879, for every holder of greenbacks to go to the Treasury, present them, and get gold in return. No one thinks of presenting them. The difficulty of the day is for merchants to get enough notes, whether national bank notes, or treasury notes.

I now renew my motion.

The PRESIDENT stated the motion of Mr. NOURSE to be to postpone the consideration of the propositions before the Board, for the purpose of offering a resolution to take from the table the propositions laid thereon yesterday.

Mr. STRANAHAN, of New York: I have a resolution in my hand, which, at the proper time, I had thought of introducing as a substitute for the whole subject of the currency and silver coinage, and as much else as has, or can, come before us in that connection. I have no desire to cut off or strangle debate, hence, I will vote for Mr. NOURSE's motion to bring the subject up, and when it comes up, I think I can make a suggestion that will please a majority of the Board and dispose of the question without much further debate. That is my impression. For information, I will read:

Resolved: That this Board hereby expresses its approval of the recommendations of the Secretary of the Treasury that the coinage of silver dollars be discontinued.

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My private judgment is that that is about as far as we can well agree among ourselves to go; and, considering the condition of the country and the condition of the currency, it is about as far as we need move at the present time.

Mr. BUCHANAN, of Trenton: At the proper time, I shall offer the following amendment to Mr. STRANAHAN's proposed substitute:

Resolved: That we heartily commend to the favorable consideration of Congress, the recommendation of the Hon. JOHN SHERMAN, Secretary of the Treasury, in his late report, upon the subject of silver coinage.

Mr. STRANAHAN said that he would accept this amendment or modification of his resolution.

The pending proposition was laid aside; a reconsideration was had of the vote of yesterday by which certain resolutions on the programme relating to the currency were laid on the table, and Mr. STRANAHAN submitted his amended resolution.

Mr. BUZBY, of Philadelphia: I think, sir, if I recollect aright, that Mr. SHERMAN, in his report, asked to be entrusted with the discretion as to future silver coinage. To my mind, that would be a much better shape in which to put this question, than to give our assent to an absolute discontinuance.

It has been said, over and over again, that there is now a sort of international process of reasoning going on upon this subject. As to the relations of the two metals, I think it would be a little better and more discreet in us not to commit ourselves so absolutely, so thoroughly, to one side of the question as is proposed. As I understand the tenor of the resolution, it is that the coinage of silver money should be absolutely discontinued.

I think that the recommendation of the Secretary of the Treasury, that he should be entrusted with the continuance or discontinuance of this coinage, should pass rather than the other.

I certainly cannot consent or agree to so thorough-paced an idea, which even goes in advance of what we did yesterday.

Now we propose to really adopt a measure which looks towards the demonetization of silver. I do not think we are prepared to do it. The gentleman from Boston is ready to say, with the news