The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-07-10

way and Cedar street. James 0aatin q President Of
the association occupied the chair Tho meeting vas
held 70 consider report the present state Of the COM
srce Of the United States and It's most urgent necess
ties The following report was submitted by the Presi
dent on behalf Of the committee, consisting Of James
Gslatiu William A. Booth Samuel Rugges, George d.
Lyman and John Eade, and was unanimously adopted
The committee appointed at the meeting held 2eth ul
inquire into the present condition Of "the Commerce
Of the United States and its most urgent necesstss re-
spectfuly report
That In the brief period since their appointment they
have not been able to enter into those minute In
quiries which are demanded by the magnitude Of
the interests involved. Yet, in view Of the impor-
lance Of speedy action, they have deemed II judi
cous to make an early report upon the general outlines Of
the quetions presented trusting that the association viii
consider 1t advisable TO organize special committees to
investigate particular branches Of trade and industry
and to ASCERTAIN the best means Of opening
for trade with other countries. They have limited
themselves, in fact to brief review Of our CONNER
oal situation and the ea Ing characteristics Of
tary AFFAIRS, the financial wants Of government, and Tho
action which Congress would called upon 70 take
at the extra session 10 NEE. the pressing wants
msrce.
Ysur committee are deeply impressed with the fact
tha. the development Of commercial and Industrial
the objects which, for quarter OF century more,
have engrossed the attention Of the government; and
although cannot be expected in the present
of the country that these resources should now clsi
absorbing interest, 1t gratifying 10 know that the
President has given expression 10 earnest desire that
all the influence which hts administration exeroife
In favor Of their promotion should be extended ~ the
In proof past neglect OF commercial and In
dustal interests only requisite 70 point TO the great
prominence which has been given TO reciprocity
treaty with Canada and the treaties with Japan aud Chi
ereser markets for highly Die rsc,prcc ado
have remained uDimproved Indeed, II requires bit
superficial examination Of the progress which the leading
nations have made to shOw how have Suffered BY our
neglect promote the development OF our commercial
aud Industrial resources, and how much Other Dasions
have suffered from their Ina oty " make progI eee
while we have been negligent or Indifferent
Commerce s said 10 be the lever OF he worlds pro
gress. With freedom Of trade We extend moividusl
the greatest extent which he b capable Of maintaining
conouces to his elevation In the scale OF humanity,
the liberty OF commerce promotes IL growth and
extension. It 10 70 our commercial liberty, no
les, than our civil and religious freedom, thas
full career nation Il Is to their commercial freedom
in like manner that England and France and other en-
lghtened nationsf indebted for their own zaton,
their liberties, and their In science, literature
and art.
intercourse through creator freedom Of trade 70 be one
Of the highest OBJECTS that can occupy the attention. o
phauthropists statesmen and economists II the on
" great agency which rely ,or uni til The
Material In ereets OF nat in indtsoaube bonds Il 10
the chief Of those friendly alliances thai cement
nations together in peace and ha mony IL averis war,
promotes Kindly Offices, aud extends civz tion, reli
earth Earth ''''''' '''' -'''
Our commerce At this time 10 Characterised BY q,
falling OF in imports Of Injuries ana The more
costly fabrics, decrease IN exports Of cot
aaiassIsn Of balances q trade in our favor By i
ports Of the precious metals, With = revival
money sJsem, crippled by the insurrecs,on which pao.
overEun the States upn whose aebs the c,renY wse
based, steadily giving way before the supplies money
Europe.
Real money beivg the instrument Of trade and com.
dollar thus added 70 The ENJOY gives sa
70 substantial prices values, in the ratio Of from
to one hundred OF more In proportion TO the
activity Of It's circulation and great Northwest hsv
ing been for some time economiz,pg. embarrassed By
avcious monetary system, may now DO considered With
this improved currency in siiion 10 resume, at an
early date this coming autumn, thsS numerical activity
20 oorgenia to her entercrisipg pelple In all other
parts Of the country, BY the insurgeD
syaten which is being daily susns hsned aud u 10
gratifying 70 observe that the supplies of the
not creating by their .ns very serious iroon
venence In he money markets OF that part the world
but apparently bringing out as proVideDtaly kept 10
store This emergency part Of those great accuml
alions OF treasure which have tor twelve years been
drawn from the mines.
Your committee consider thst these acceesiops TO
stock OF the precious etas desirable doppa
to our wealth. required to place currency upon par
With the money Of other countries, ain our
business affairs upon foob The z, eaess possible
efficiency Beg oad or above that amount the export Of
these metals, in exchange for other commodities, We
In tae same light that would the export OF any
article OF trade.
view Of the grca. dsngers be spprehended from
government paper currency which history has tsugh.
to avoid would express cope That all pa
r!o.s VIII unite In their efforts such calamity
from hereafter falling upon the country
In relation TO the Of monetary frs we
would advee that the Of security adopted tho
New York banks the 2is. Nevem0er lst b., adop ed
by the banka OF every ciy every state
cumstences may require extra precautions. This
s well calculated to aAy pul.r apprs heosops by
convincing the people that toe supply OF real mone
be made equal 10 al the wants, bile, by s extenaon
to the banking institutions Of the country, We night
cure the advantages Of SAFE currency without any
tratzaton OF monetary power.
The present coalition Of the affords undoubted
evidence the ability Of the country eus,a,n the ex
pendtuves demanded Of IN the Of
tbs insurrecton for we have aUbsia tal basis thie
supply of real money upon which u oud tue crea Of
the government, to amount which only be estl.
mated approximately, with some allowsD, for altered
circumstances by the vsst amount VI the Investments
which we have made in various undertaking 60 during past
years.
Your committee have not therefore, the donbt
OF the ability Of mt TO suppress the
whether 1t cost hund- Millions Or five huno ed
mi lions; and satisfied that IN their to 40
they and will Continue TO sustained by the
patriotism Of the people; while 10 those States whch
have been overrun by the insurgents thsre Is growing
desire 10 get rid Of uBurpa'iOn which ug the
worst crimes OF the worst governments that have ever
existed
Your committee feel i. to be no less duty than O.
privilege to offer their bumbo congratulations to their
fellow citizens upon the policy viii oeen proclaim
cd by the President in his mefsage 10 Congress ana by
the Secretary OF the Treasury his report We have i
tbis policy OF prompt and adequate application The
actual Of tho country supp essoo Of the
insurrec.ionary movement every object that the
aspirations Of patriots ind OF cAl and indus.
trial interests could desire, while venerable m,srv
chietaiu, aud the officers and men OF army navy
possess the entire confidence the people Hearty SUP.
port of the government ever the duty Of good citizen
Cannot be deeply Impressed upon the minds Of us ali
in this orisis.
To sustan the govern ment TO preserve duetsl
resources and TO maintain our trade aud commerce.
tue great obj.cs TO which, reyii The aid OF
Dviae Providence, our beat enersss 10 BIZ devoted
skill perseverance, self denial aud patience arc needed
throughout the ram ncaiDs OF INDUSTRY ana OF
business less than on the battle fed
Your COMMITTEES rcfrarn gvicR expression
the heartfelt, graiitade people the oval
aud universally ebtertane1 Owards them or nat
heroic devotion 10 the Union which they display IN fhng
The army and navy, In se deoyine economy, aud in
fur nishing to The gsve every assistance wh.sber
material or Intellectual for putting down the in,urrc
rection. IL IN the economy OF the people which bas
provided unusual supplies OF real tois hour Of
greatest reed u 10 the prompt stH ng
Of Injuries by the people ~b ch has the balances
Of trade in favor Of tho country, and brought ihose
supplies Of money. II iB due to such q people who can
thus, III emergencies place themselves In history beside