The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1868-02-15

Grant Correspondence" "Advice to Reception
doers," by Nobody's Son, Political News,
Court Reports, Congressional proceedings, Ne.
THE NATIONAL COMMERCIAL con-
vENTION.
Those who watched the doings OF this conven.
tion, which was held in Boston last week. could
not have failed to sec that 1t was composed of |
many of the most able men of the nation, who
are connected with and represent the commerce
and business OF the country. Wehazard nothing
In saying that it was, beyond doubt, one of the
most important gatherings ofthe kind ever held
in this country. Hundreds of millions OF capital
represented there, aud every branch of
trade and business was duly considered and that,
too, with clear understanding of the nature,
wants and necessities of labor, and the produe.
tive industries of the country.
This convention should exercise, as doubtless |
II Will healthy influence over the action Of Con- |
rress, enabling it to shape the legislation of the
country in a way which shall lead to the best,
the most practical and beneficial results.
The convention devoted good deal of time to
Reconsideration of finance and taxation. Some
of the political theories heretofore brosched will
be seen to he not exactly in harmony with the
resolutions adopted by this body. After what
we have heard affirmed SO often in respect TO the
views entertained in the West in regard to tho
imitation of the currency, we were hardly pre-
pared to see committee composed Of three
fourths of Western men present u report, which
was unanimously adopted, against any imitation
Of the currency We had expected to see In that
convention almost every Western man an In
hLtionist We marvel, therefore, at the result,
and are left to conclude that the substantial
business men of that region entertain views in
this respect entirely different from those enter
tanned by certain politicians in that quarter.
This convention Is of the opinion that Con.
gress should not NEEDLE with the currency for
year at least but that in 1860 1t should be
withdrawn At the rate OF y, 900 600 month. The
convention favors the limitation of the national
bank circulation to the maximum amount OF
500, 900 O0O and the reduction in the circulation
of each bank to fifty per cent. of the amount Of
its capital, They favor q free banking law when
specie payments shall have been resumed, and
they recommend that the national banks shall
retain the coin received In interest until the
amount equal to the reserve required in green
backs shall have been accumulated.
The convention did not seem to favor a speedy
return 10 specie payments. They did recon-.
mend, however, that the legislation In Congress
be shaped to that end. They looked favorsbly
upon the proposition of legaIizing special con
tracts in gold, and recommend to Congress the
passage of a law to this effect
This convention took strong ground in favo
of removing, AS far AS possible, all burdens from
the productive industry Of the country. To th
eud they recommend the strictcst economy IL
our hatlOnil expenditure having economy
and reduced taxation In view, they recommen,
the collection of the needed revenue by mean
Of n tariff and duties by stamps upon q few artl
cles of general consumption, among which ar,
named whisky and tobacco. one thing Is obser
Vable, and that is no mod hcation of the existing
tariff was recommended.
The convention devoted considerable time to
the question of transportation--cheap transpor
tation by railroads and canals; and they urge
the necessity, which all must admit, that in or
der to stimulate the productive industries Of tn,
country 1t is important TO bring the producers
and consumers as near together as possible, by
aunihilating distances. This convention woul
not be content with one Pacific railroad, but are
willing for a second, and even third. They IA
vored Increased canal facilities for trade be
tween the West and the ses-board.
There was one thing in the action-or better
perhaps, we should say non -actlon-of this con
vention which strikes US rs eminently wise; 1
did not recommend the appropriation OF public
money in aid of works not already commenced
because of the present depressed condition o
the National Treasury
We gave In our tissue yesterday the resolu
tlons of this convention In regard to the nav
ment OF the public debt and the liquidation o
the hve-twenty bonds in coin. These solutIon
were unanimously and Enthusiastically receive
and adopted. Some politicians, who would rid
into power upon the overthrow of the nations
homer and the prostration of the national cred
should feel themselves Tebuked by this patriot
action Of n convention Of hiBh-mluded bushes
men.
We believe that we have given above TIA
points of interest upon which this cOnventio
took action, and we trust that its influence vii
act favorably upon Congress, leading to wi.
legislation and wholesome laws.
WE ARE AUTHORIZED 10 state that the name
5. J. Bowen, esq, published in the list of person
appended to protest against the renewal of Il
city charter, presented at the meeting of II
CITY Councils GU the 3rd instant was una,
thorized by Eim he never having signed SUCH
paper,
GEORGE FRANCIS TRAIN wants the aid of OF
Government to help him collect of the BritIs
Government 100000 for false imprisonment
lie has sent petition to the President, reques
Ing the power and influence of this Govcrnmel
ia this behalf
TnE NATIONAL THEATRE.-A benefit was give
to Miss Caroline Rchings last evening, and Il
Bohemian Gill" was performed to goo
house Tonight will be rendered the "Colet
Bawn"
DIFFICULTY Is said to exist between oil
Minister at Madrid Hon. John p Hale and III
Secretary of Legation, Mr.. II. j. Perry NJ
Hale'threatcns TO resign unless Mr., Perry Is r
called.
The drst state dinner was given last cvenir
at the Presidential mansion. Members of Il
Cabinet and several Senators were present.
WALLS OPERA HousE.-La Rue's Minstre
open at this theatre on Monday night
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