Seligman,
Bliss, Fabri and Fahnestock.

I stated that the object of my visit to New York, and of my request
for an interview with the associates, was to obtain $50,000,000
coin for resumption purposes, and I would like to sell four per
cent. bonds to that amount.

Mr. Belmont did not think the four per cent. bonds could be sold
then, and the associates all concurred in the opinion that they
would prefer making a proposition for the four and a halfs, although
they were not prepared to make any definite offer. I said I would
like to get 103 for the four and a halfs, but the associates said
they would not consider that at all; they would communicate with
the Rothschilds and others, and might possibly be able to offer
101; they would come to some conclusion by next day.

On the following day, at the National Bank of Commerce, I met the
presidents of the national banks: Mr. Vail, Commerce; Mr. Vermilye,
Merchants'; Mr. Coe, Merchants' Exchange; Mr. Sherman, Mechanics';
Mr. Buell, Importers and Traders'; Mr. Moses Taylor, City; Mr. F.
D. Tappan, Gallatin; Mr. G. G. Williams, Chemical; Mr. F. A. Palmer,
Broadway; Mr. George I. Seney, Metropolitan; Mr. P. C. Calhoun,
Fourth National.

Mr. Vail said that this meeting was called at my request, that the
gentlemen present had no information as to the object of the meeting,
and had had no opportunity for consultation; that I would explain
more fully what I desired.

I said that I proposed to resume specie payments on the 1st of
January, in accordance with law, and that for this purpose I wished
to get $50,000,000 of gold, and, to accumulate this amount, would
if possible, sell four per cent. bonds.

Mr. Vermilye and Mr. Coe spoke at some length to the effect that
they were in full accord with me on the subject of resuming specie
payments, and they were willing to co-operate in any way to bring
it about. They said that although they had not consulted with the
other gentlemen present, they had no doubt they were all agreed
upon this subject. They thought, however, it would be utterly
useless to attempt to sell four per cent. bonds, and that as far
as such bonds were concerned there need be no more said.

I said this being so, I would like to have some propositions for
four and a halfs.

Mr. Coe said that no definite proposition could be made without
further consultation among themselves; that they were willing to
assist to the extent of their power to obtain resumption