The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-18
Meeting OF the Chamber OF Commerce.

The Chamber Of Commerce held epecial meeting last
night Clinton Hall-Peletah Peret Esq., in the chair
The chairman stated that this special meeting al
ourned from the last regular meeting The first subject
claiming their attention the report Of Mr. Davis rea
tive permanent location but there was another and
more important subject, which he suggested should be
first taken up That the question Of bank restriction,
recommended by the Greenwich Bank Superintendent
This question had been reported by the committee or
the last meeting and had been printed and circulated
among the members The meeting having agreed 10 take
up the bank question st the report and memorial the
Legsla ture read.
The report appeared in the HERALD OF last Saturday
The memorial asks that law be passed embodying the
Mr.. DAVIS moved the adoption of the report aud he
hoped the vote would be unanimous
CALEB BARsTowE opposed the motion though he thought
he should be outvoted He was opposed n restrictive
laws and was doubtful whether the Louisiana law did
much good, after ALL Sir Robert Peel's law failed when.
everything possible to stop all crimes in money deal
ngs, but to avoid all compulsory action otherwise.
they had just learned, could not restrain themselves
without asking gentlemen at Albany tie their han s
He would move an amendment that if banks
three weeks without paying specie they should not be
allowed TO discount collar until they into line
again. He would move amendment, that a tine be
imposed in place Of the penalty of winding up the bank,
Mr. DEsyse DurR said that the gentleman mistook the
intention Of the memorial
Mr.. MArrHIw MoRLY opposed 10 the report
Mr.. SMITH was opposed {, the principle Of the whole
thing and did not shrink from raising his against
high in the commercial world. He had enough OF
their handiwork for the past twelve months He dd
see why we should follow Louisiana, mere little town
compared with New York city. He hoped the Chamber
would pause on this serious matter All the trouble Of
mst summer was causeo ~ thc mads o Tour nsu'ntnns
in this city. and he thought he their handiwor 10
this proposition He was surprised TO see such paper
as this introduced INTO the Chamber.
Mr. BRowER said that he had doubt the gentlemen
who drew up the report had in tho banking interests
Of the state but he thought their plan calculated
10 all they nded He would offer as an amendment
that law he asked for prohibiting hanks flom allowing
interest on deposits in any form. (Appaase.)
Mr. ROYAL ruIrs said that the committee by their
port prohibited banks from paying interest deposits
Mr. JAS LR wanted To know II II would not have the
effect of keeping capital away from New York He
thought the principle was wrong; ir public benks could
allow interest depoeits private bankers would
Mr.. CHAs ii. MARsHh1 thought we wanted iegsia-
ton at all on the matter The bank system Of this
was on as good basis could be- and he hoped that
the report and memorial would be rejected by small
vote bu, by such one as would kocp out Of the Cham
Mr.. BRowyR's amendment was then rut and los. Tho
original motion to adopt the report and memorial put
and lost
The ayes and called for hut after some dis.
cussion, ~as decided that the motion was los.
Mr. DAVIS wished TO propose substitute for the report
Board Of Bank Control to be elected BY ockhoaersos
all the banks the aebe electors 10 be prcporticuto
LEES the house gave unanimous his proposition
could not be carried The house refused ts consent and
the proportion was laid over
Mr. LIE moved for consideration OF the vote on the
report, but his motion lo=t.
M RrsSrL wished TO introduce q resolution, that u
was the opinion OF The Chamber OF Commerce that
rexpedent that any memorial asking for interference
With the banking laws Of the Sse should omanato from
that body at present but the meeting refused its unani
mous consent TO the subject being introduced.
Mr. MARSHALL had plan relative 70 marine signals N
Introduce and Mr. Brewer wished 10 present plan res
tive 10 The law governing collisions rea but the house
refused 10 consent 10 hear any matter.
The regular order of business then by vote dc.
cded In order and Mr. Davis the report OF tho
tommittec on Permanent location He said that after
using all diligence the committee unable 10 find any
better place for the permanent location Of the Chamber
than the room in the Merchants Exchange formerly de-
signed 10 accommodate H. II situated the read
being FIRE proof II was the most suitable location;
most do congrcgate.n The committee recommend ,ha, u
be secured, and library containing msps books &c be
established by donasos which should be open members
and citizens, on paying certain fees
Mr.. BRowrp moved that the committee be empowered
70 open negotiations with the trustees OF the Exchange
hessrs. harsnAft, srFArroS. and others objected to
the adoption report nj all the work only half
cone by the committee. They had made provision for
raispg funds 10 pay for the room aud that the most
important part OF their duty. Subsequently motion or
MI straton, the report was referred back W the com
mittee.
Nr. MlpspAII moved Mat snct,er special meeting be
held on Friday, at one O'Clock In tho Merchants Rank
Tor The purpose OF considering the different subjects which
were not permitted 70 be introduced that evening ibis
motion was agreed To, and the meeting adjourned