The national Republican., 1868-12-05

Natioaal board OF Trsde-Proeeed.
ings Yesterday y-Impsrtant Action
Affecting Trade and Commerce.
CrncIsSArI, Dec. THE Nstiopl Board
of Trade rast to-day, and the president at ten
this norning called the convention to order.
Tbs Mobile ohsnber Of eomasrcs was sd-
mitted, and Its delegates, Msssrs. Stewart,
Smith and walker, admitted 10 full member
ship. The president, In Addressing the Board,
said much Important business remained for
consideration. He introduced lengthy re-
marks affecting order OF business, sc.
The chairman Of the Committee on Admls
sions then presented a report on the claim Of
the Board of Trade OF Norfolk, Virginia, for
Admission. II vas an old and important body
and clearly entitled to admission, but their
credentials were under seal. He therefore
moved that the delegates be admitted to the
door with the privilege OF speaking but not
voting, which motion was, after some debate,
adopted. The delegates from Springfield,
Ohio, and Council Bluff were admitted on
similar restrictions. i
The Committee on the Telegraph reported
the following, ~ ..s... 4.
R.,oipef, That the National Board Of Trade
recommend the adoption BY the general Gov
ernment Of measures to cheapen and extend
telegraphic communiostio between the differ.
ent points Of the country BY making 1t part Of
the postal system.
The resolution was postponed to come up
after the shipping question.
Mr.. Myer, Of st. Louis, thought IL desirable
that Congres should BY legal enactment restore
the currency Of the nation TO . specie basis,
and redeem unpaid and depreoisted promises
Of the Government. by resuming specie pay
ments at the national Treasury as early as
practicable.
Mr.. Louri, Of Baltimore, offered . resolu.
ton rcoommendlng TO Congress tho passsse Of
q law forbidiing the sale Of any gold In the
United States Treasury for legsl.tender notes
or other currency, and requesting the Secrets.
ry to dispose Of surplus coin for slx per cent
gold-bearins bonds Of the United States to the
highest bidder, and all bonds so purchased i'm
medisteiy cancelled. ...-|
He also offered the following:
Whereas there had been recently a great
81 natural and partly by artificial mssn;,
which had the effect of deranging business
and depreciatinE the value Of the products Of
the country being legal tender notes, which
cannot be Increased, while various bonds and
other seourities thrown on the market are In
Resolved, That this Board recommend to
Songts,, ths passage T, o. law a, TSqui,ipg the
at the following rates, viz: In the year 1879,
lio at 100 pati In the year 1870, 1l2 psrj In the
year 1871, III par; In the year 1871, at ilo for
loo par, and all bonds SO purchased be can.
celled.
Mr.. Ropes, OF Boston, favored an early re-
sumption OF specie payments. He offered a
resolution that It was the duty OF the dovern-
ment to make provision for the gradual with.
drawsl Of legal-tender notes. not arbitrary,
but to allow holders to exchange for bonds
bearing interest.
Mr.. Naylor believed that the difficulties In
the way OF resumption were more Imaginary
than real. The Governmsnt could do II In six
months with vigoro US measures, and he sub.
mitted a resolution 10 this effect.
Mr.. Randolph, Of Chicago, was opposed TO
any measure making two classes OF money.
Legal tender notes should a. soon a. possttss
be raised to gold.
There was considerable discussion by vari-
Gus members OF the convention on the quef.
tion Of rcsuming specie payments and other
| financial measures.