The New York herald., 1862-04-17
THE CHAMBER OF COMMERCE..


9pecial Meetfns-Internal Taxation, as
Proposed by Congress-RePort OF the
Boston Board OF Trade ON the Subject
The Certificates OF Indebtedness Issued
by the Government-Report OF the Har-
bor Defence Com mmittee-The Next Gov
ernment Loan, &c., sc.
special meeting Of the chamber Of Commercs was
held O'Clock yesterday Pelaah Perit Esq, in the
chair for the purpose OF taking into consideration tho
report Of tho Board OF Trade internal taxation
prepared by Messrs E. B. Bigelow, Thomas Lamb and
Charles G. Nazro also to take action the certificates
OF Indebtedness issued by the government in payment OF
debts due by individuals for services rendered and
supplies furnished,
Ths reading of the minutes Of the last meeting was
dispensed with, and the call OF tho present meeting
having been road by the Secretary,
Mayor 0PDYKE said that the call OF the meeting just
read tho Of the internal bill,
and of the sgners OF that call he would state that
he bad signed at the request OF the committee OF the
Boston Board OF Trade which body had matured plans
very much better than the bill before Congress.
The subject Of taxation had engaged his attention some
what, not only in the present, but in tho past.
The bali before Congress had not had sufficient examna
tso0 from him enable him to speak clearly Of Its pro-
Visions He satisfied, however that the sxgences
o the present required large taxation, very
much beyond what they could raise within the ordinary
session u
August last additional Of taxation proposed
in the shape Of direct tax and incomes. These
together would not Increase the OF the
mont over S25 600 Co0-making altogether loss than
500 900 600 His estimate would be $500 900 900,
which would DO sufficient TO the interest the debt
That IN his judgment, far they could 20. 1t
was not proper in matter Of this kind that the people
OF he present day whom ihar business very much
prostrated should be compelled pay very consiisra
Bile portion Of the principal they paid the ordinary
expenses Of the he thought all that
r. Sc.
how should the tax be raised beyond the already
provided-namely, the duties on imports and the direct
taxr The tax on Income was most injudicious
measure and should be abandoned 1t would
lead to great deal OF misrepresentation,
and probably to something In the next place lie
did not believe in this immediate taxation ut all. 1t
the most improper measure ever adopted But Congress
had taken the subject and endaarored to raise fund
by which they could obtain Sl5O 600 0oo IN order
get the additional revenue they had framed bill that
Gated in its provisions 1t occupied he believed over
one thousand pages OF fooscap He knew that OF the
consequences OF that bill would be send cor1niNtee
after committee and individual after individual Con.
in order to protect specific branches OF business
But more serious objection to it this that being
comprehensive in its scope and complicated in its do
tails II would require army OF assistant collectors
that would exceed in limitthe large army now putting
down the rebellion He therefore held that the true
method OF raising that moncy-the true method OF
alton In tselfwas undoubtedly TO place the pro
psrty Lot each pay in proportion to his by
eno ordinary wants OF the government. II seemed to
nun, nun that tners was no means by which they
means directly and equitaby by the plan
suggested by the Board of Trade Bgston
~ tax upon all sales Of merchandise and products In
this Wow OF tho the consumers would have pay
ono per cont more for everything they consumed That
family in the Unitod would pay pro-
portion Now In proposing this por cent the Boston
Board Of Trade had estimated the aggregate OF sales at
ton thousand millions per snnum and the ices at ono
hundred and three millions OF dollars. BY vory close
examination Of these Statistics he satisfied that tbs
aggregate productions of the country were very much
underesnatsd by the report VI the Census Bureau.
Ono Per cont would give one hundred aud ty mIions
or dollars, and that, he thought, than VIC
would require with tho duty imports, tho direct tax
stion and the tax on every srice OF consumption such
as tobacco, &c. He believed that one-half three
quarter sales would be ampc the require
ments OF the government great thing to be taken
into consideration regarded this plan was that it
would require but very few oiicers-perhaps not
ons-hfth OF the number che bill now before
Congress would require. They oil know the ia
ciities with which money was collected from the
sntilo casses and the result would be that there
would not be less than forty or fifty millions OF dollars
collected from that in this city. In every
OF the subject no thought this Improvement on the
plan now before Congress He hoped the subject would
60 10 COMMITTEES OF the Chamber report IL at
carly day, rs th ire to be lost He would
suggest that memorial be drawn up expressive OF the
views OF the merchants IN the matter and TO Con-
gress HIS proposition would be TO put specific duty
very few articles
M.CaARLks GOULD suggested that when the committee
should be apronted they would also consider the subject
Of finance and ami something about the bonds of
tho Erie Eiilroad He said that ono gentleman had
claim against the government OF 81 900 900 in Erie bonds
ana $3.50 0O0
Mr.. TousKY opposed tho suggestion Of Mr.. Could. on
the ground that Of should be dealt
with BY itself. He offered amendment that effect.
Mr.. s. B IUsG,Es advocated Mr.. Goulds proposition,
20 havo both subjects linked together The French took
that all such matters, and found 1t work
well o then entered into description OF how France
managed her financial matters.
The moton without tbs finance clause, was then put
and carried, and the following were appointed com
tnittse take charge Of the matter Mayor Opdyks
Msssrs. Gould Lambert, Griffith and Thomae.
TBE GOVERNMENT CERTIFICATES or INDEBTEDNESS.
Mr. THoxAE drew the attention OF the Chamber to the
hxe
different individuals and said that the holders such
Ssrcatss should he thought be paid interest by the
Secretary Of the Treasury, the certificates
sold In the market at q heavy discount.
Mayor OrDrxk not in favor Of the Chamber taking
any action IN the matter, those issues selling
within fraction Of the amount they involved.
Mr. TorsEY hoped such resolution would not pass in
che Chamber At least until there was fuller attendance
struck him that many Of those contractors had played
ths part Of shylocs and that they receiving more
sympathy than they were entitled TO. In fact, the
sosders who fought our battles were receiving less
He did not why those contractors should
gse any interest at all. They ought to be salts
ned with the principal. They were better OF than
the soldiers themselves who did get their pay when
thsy ought and who get no interest whatever Ii those
contractors entitled TO extra interest II
hin 70 apply with as much force to the soldiers who
were without pay for months aud months. that reso
luton was passed by the Board ho hoped TO some
member Asroducng resolution bringing the prin-
epe 70 bear the soldiers He had been told that gov
ernmont paid $25o day FOR the uss OF nero washub
whole year. II the claim agains, tho government was
good for principal and these certificates only served
any future time interest thereon without any
endorsement from the Chamber and therefore, he hoped
that IL would not pass.
hr. TyoxAE offered preamble and resolutions in favor
OF tho payment OF interest by the United States govern
ment TO the holders Of certificates at similar rate to
that paid its late loans from the time OF sale the
Issue Of said certificates. Passed.
DEFyscxs.
r Low, chairman OF the special committee on Har-
bor Defsnces, read the following report, which
adopted
The committee appointed At a special meeting OF the
Chamber Of Commerce. the 10th day or March,
upon certain suggestions Of the Secretary OF War rea
ton to de sncss which suggestions that
tune communicated through the committee, which had
then returned from Washington beg leavsrcspect
fully reportTha, having given due consideration
advanced for action the part Of the
camille community at time when the energies Of the
government especially directed TO the object,
the committee arrived at the conclusion that n