The New York herald., 1868-02-09
MASS SACHUSETTS.


IT,. .nsi Comlscrciai Convenfiss-Adop-
s,e. S ~ Financial Report and Final
Bosros. Feb g. ises
The Commercial cony.,,.. opened this morning with
prayer by Rev r. L. Coiysr osS """so
General wslbridge OF New York, onSred Q series %
resoiutons' which he moved should lie on a~ Ao's'
and DO In order FOR the or the Convention 3sAs
year
Tho resolutions anrm the duty Of Congress 10 foster
oil projects for the Improvement OF the prsssns lines q
communication and OF those which shall be projected.
particularly those BY land water between The Atlantic
and the Mississippi. and the Pacific facilities
as FAR as possible bs afforded TO enable through lines.
from North 20 South and from East West have
double track
Another resolution recommends a combination OF rail-
roads TO secure uniform stem Of freight for through
usins or connecting trans at speed OF ten miles an
nour and svors the OF ths tracks Tor passen-
gers ana light and costly frsishs and Of others Tor
The report OF the Committee on Currency and Fnancs
submitted TO the Convention yesterday, was thsn
Mr. Fraley, OF Philadelphia, chairman OF the com
mittes closed the debate He said that listening TO all
that had bean said. both In the COMMITTEES room and
during the discussion, had strengthened his opinion that
the report covered about the sentiment OF the country
upon the subjects considered. There times or
course when was necessary TO suspend specie
payments; but he believed that the time had
when IL was the duty OF the country 10 resume
specie paymsnts % speedily a. could safely DO done
belon had necesstated tho suspension OF specie pay
ments, and the former resumption only
By the almost utter bankruptcy OF me country
Tho great problem is how mption with
out national dishonor individual bankruptcy and he
believed this desirable result could brought about By
the adoption Of tho which had been
In the report gradual process contemplated by
the report and such process would furnish shock
any Of the great business interests OF the country
he believed tha. the adoption Of this report would
adencs It would inspire and that the people
Believing s s did % the rsDor, .s vho he must
decline 10 accept the various amendments that had been
proposed In regard to free banking be thought the
only question how soon 1t could ssely be entered
upon He had always besn IN favor OF free banking
system, but no thought could only be safely entered
upon when every note issued by free bank would be
centre In gold silver. He defended tho abolshment
Of the usury laws Mr.. Fraey closed his remarks th
stating his entire confidence In the ability OF tho Con-
venton 70 wisely dispose OF the questions embraced IN
his report and bis hope that the best results would fol-
low throughout the whole country from the action Of
the Convention.
Two amendments were accepted--the Hrst recon-
mendng Congress to forbid national banks selling any
gold received interest for bonds pledged for thoir cir
cula0n until such tmo the entire amounts reserved
by law kept by the banks shall be made up by the
second, that the bonds OF the United States already
issued are exempted by law from taxation and having
thus been issued II would be violation Of the law OF
contracts to impose upon them now, we'll
breach Of faith on the part OF the government.
The report OF the committee was then adopted.
resolution was unanimously adopted reafhrmng the
adherence OF tho Conver Ion To the principles Of
tonal honor indicated In the report OF the Finance
Committee
on motion OF Mr. Stevens. Of New York. three reus-
Ing cheers given for the national honor Votes Of
thanks passed the officers OF the Convention. 70
the Boston Board Of Trade and TO the State and city aa
after eloquent closing address By President Fox the
Convention adjourned ane die