Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-12-05
Oblo Statesman,
LATBSF BY TELEGRAPH,
DOMESTIC NEWS.
The NatIo-.al board of Trade.
4, sE z < CINcrNNArI. Dec. 4.

h 81 EE z b CINCINNATI, Dec. 4. \
The President called the National Board
LOT Trade Convention to order at 10 A. NJ.
| On motion of the committee on Admis-
lsions the Mobile Chamber of Commerce
was admitted, and its delegates, Stewart,
Smith and Walker, were admitted into full
membership. 2gasiF gsHil yl-a 1Dl
i The President addressed the Board. He
saiu good deal of most important busi-
ness vet remained to be considered, and he
trusted no member would think of dis
Ipersing so long as there were any matters
which remained undecided, and that those
who felt compelled to leave should
IIIhaste to eyade their responsibilities,
WHEREBY their deliberations would have
Itheir due weight with the people and with
lCongress. He then renewed his former
suggestions as to the form of proceedings,
that every gentleman, when rising, instead
of saying = Mr.. President should an
nounce his own name and place distinctly;
also, as to the vast importance of the mos
tion brought up yesterday irom the Board
/ of Trade of st. Louis, and other matters.
He asked the concurrence of the Board in his
former suggestion This was that each
member of that Board should have priority
of speech. and then he would call on the
individual members of each delegation in
alphabetical order, so that each delegation
should have an opportunity of speech,
whereby they could arrive at the views of
merchants from all parts of the country.
His object was to preserve regularity. If
no objection was raised he would act ac-i
cordingly on all the weighty matters that
presented themselves for their considera-
tion. If, after the. roll was called, there
were any other members who wished to
reply they might be able to speak. Con-
CURED in. ~ a..sls ft.7TyriS gus ID -s.,,i
The chairman of the committee on Ad-
missions then presented a report on the
claim of the Board of Trade Of Norfolk,
Virginia, for admission. 1t was an old and
important body and clearly entitled to ad-
mission, hut their credentials were not un-
der seal. He therefore proposed that the
delegates be admitted to the floor with the
privilege of speaking, but not voting. 90,
! MIR. Nazro, of Boston,. objected. He
wished to keep to the strict letter of their
Constitution. .syf F'-e st-' s.1st re-. .ts.7'
Mr.. Brandt complained of Mr.. Nazro's
extreme technicality. si,i yg.il l., Z
The motion was put and the vote cast
35 ayes to % nays. ~ -72'2 ,es-s
/ The chairman of the committee on Ad-
missions again presented the claims for adj
mission from Springfield, Ohio, and the del
egates were admitted to the floor and per-
United to speak but not vote. .s-5t.) 5s,
| The delegate from. Council Bluffs, Mr..
johnson. was also admitted under the same
exception. a. - - =. ~ n. - ~, ~,
The application of the Mobile Board of
Trade was also presented, the communica-t
tion being by telegraph. ti.-5t ft... a a
Mr.. Hinken. of New York, objected.
We were drifting into an unconstitutional
course. We had no evidence whether this
application was from Steamboat or In
surance Company. We had nothing to do
with any individual interests, but with
general commerce. We have organized
for exclusively commercia purposes. Not
! admitted. h3a TrE0t Inss Boob lo s.sgis-rJ -
Mr.. Holton, of Milwaukee, was excused
| from attendance CO. Lra r. raH
The matter of American shipping came
| up from yesterday. 1t arose from rec
lommendation proceedi1gS from the New
| York Produce Exchange TO theefect that
American shipping can be restored to its
position of the supremacy of the ocean,
and from the want of proper legislation. +
Mr.. Hinken, of New York, wanted
every one here and every onein the United
States to know that Americah ships no
| longer convey, the vast produce OF our SOIL,
| The decline OF our tonnage has been
about one and half millions of tons. The
proposition is that we be allowed. to buy
vessels wherever they can be obtained, at
the cheapest rate, and sail them under the
American flag. This was the only COM
modify on which there was entire pro-
hibition. We could buy any article any
where and import it,, paying duty, but
| not a ship nor steamer. We come here
| claiIDIng free trade. We should be al
lowed to do what England and France have
done. But we are willing to pay an adva-
loren duty on all foreign ships bought
and sailed by American sailors. ,I,t.i :
| ! The report, which was long, was ordered
to be printed and made the special order
for to- o-morrOw. In 7Sa.r1sF . IN
Committee on Telegraph reported the
y
Resoloed, That, the National Board of
! Trade recommend the adoption by the
General Government OF measures to cheap
en- and extend telegraphic communication
between the different points of the coun-
try, by making it part of the Postal De-
Ipartment. .J 20. -,.t d.: 81. .-. -.- ...,....
| The resolution was postponed, to come
| up after the shipping question. s.--.. g..
| Mr.. Myers, of St. Louis, thought 1t de-
sirable that. Congress should, by legal
enactment, restore the currency of the ma
ton to specie basis, and redeem unpaid
| and deprecated promises of the Govern
| Inent by resuming specie payment at the
I national treasury az early as practicable.
| Mr.. Long, OF Baltimore, offered reso-
luton recommending to Congrt IS the pass
age of a law forbidding the sale of any
| gold in the United States Treasury for
| legal tender notes or other currency, and
requiring the Secretary to dispose of sur
|
bearing bonds of the United States to the
| highest bidder, all bonds so purchased to
| be Immediately cancelled. r zsa. '.isI
/ Mr. Daney also offered resolution; that
| WHEREAs, There had been recently great
pressure in the money market. caused part
ly by natural and partially artificial means,
which had the effect of deranging busi-
ness and depreciating the value of pro-
ducts of the land; and 75'-aosuH rode t,i1
/ WHEREAS. The banking basis of the
| country being legal tender notes, which
tcannot be increased, while various bonds
and other securities thrown on the market
are increasing rapidly; therefore ,,.f,.
| Be 1t resolued, That this Board recon-
mend to Congress the passage of q law re-
qufriDg the Secretary of the Treasury to
buy at 6 per cent, gold interest bearing
| bonds on the United States at the follow
4 ing rates: In the year 1869, 110 tor 100 par;
in the year 1870, at 112 for 100 par; in the
year 1871 at ia for 100 par in the year
1872, 1l6 for 100 par, and all bonds so pur-
chas ed to be cancelled. .ia
Mr.. Repes, of Boston, believed the diff
culties in the way OF resumption of specie
payments were more imaginary than real.
The Government could do it in six months
4 with rigorous measures. and he submitted
/ q resolution to that effect, ,..,,,o
| Mr.. Randolph, of Chicago, said be was
opposed to any measures that would make
! two classes OF money. Legal tender notes
should, as soom as possible, be raised TO
gold value. He offered resolution that
the true policy of the Governments in at
4 tempting to resume specie payment is to
4 strictly adhere to the national integrity /;
and this cannot be done by entertaining
I any suggestions looking to a partial re-
j pudiation OF its obligations. d,
4 ! Mr. Mann, of Chicago, took the floor. He
said the first thing that should be done-was
TO retreneh the expenses of the Govern
! ment, the next to reduce the rate of inter-
I est OF the debt. The great body of the
ernment on earth is compelled 70 pay pay He
II Thought. the Government not morally