The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-12-06

SATURDAY, December 4, 1889.
TAs Board met at 10 O'Clock A. NJ.
p,ITer ~ BY Rev. DR.. Hoge, of the Presbyte-
ian Church.
TIE FINANCIAL PROBLEM.
The Board resumed the consideration Of
~ notion 10 refer the various resolutions
,~ ne currency question before the house
"a ,pccial committee.
Vr, HaStie, Of Charleston, did not think
D.. time for the resumption of specie pay
r,snr> had come. The South particularly
%.s no; prepared for it, and it was to her
,,,tou crop that resumption would at last
:. due. His views were embodied in n
solution providing that in the Opt
ZION of the Board any movement with a
view 10 the resumption of specie payments
6, an early day will be prcjudiciai to the
,, interests Of the country; and that n
,.rjlt economy i'll the expenditure of the
cyornment, causing rapid decrease. of
he national debt, is the true policy, and in
lime will place our country upon q specie
.a.iuess.
Nr Trezeyant, of Memphis, agreed with
NJ IIastie in the propriety of postponing
he consideration of this question, but not
next meeting Of the Board. Confidence in
,.t Government was what is needed, and
tbs is gradually increasing. Last year at
hi, season gold was as high as 40; now it
va, down to l2Q.
Mr. Ropes, of Boston, interrupted Mr..
Trczcvant to remark that while Govern
rsp, bonds in the last four years had all
sly4nced above par, yet gold to-day was no
lower than it was four years ago, showing
tia: while confidence in the Government
euhlnced the value Of bonds it did not SO
much affect gold. ,.s. (. !
Nr. Trezevant, resuming, again urged
p5>rponcmcnt, in the hope that the Presi-
DENTS message or the meeting of Congress
would suggest solution of the problem.
Mr.. Campbell, OF Newark, \. j., was op-
pcsad TO hasty action. Let the circulation
70 On Tor two or four years without contrac-
ton or expansion and the Government will
ge in condition to resume, and could
easily and safely resume, by making gold
loan.
Mr.. Rolton, Of Milwaukee, thought the
Board. AS the representative of the COM
wsrcill interests Of the country, should not
hesitate to give an opinion on this great
Question. The Government had 10 right
10 keep shinplasters in circulation and
call them money. Their issue during the
war was a military necessity. Now there
!, no excuse for keeping up the diseased
currency. The Government is able to re-
deem these promises, but shirks the duty.
We must 60 back TO tie national Standard
co hsck to the standard of the world.
AIr. Herbert, Of Baltimore, as the repre-
sentative OF the Baltimore Corn and Flour
Exchange. wished to have something to say
on this subject, and that was that he was
opposed to an immediate return to specie
payments.
Nc. Chittenden, of New York, said that
il was plain that there was no unity OF sem
',mcMt on the mode of returning TO specie
PAYMENTS, He moved to postpone the mo-
lion 10 refer in order that he might intro
durc the following as embodying the only
sentiment that the Board can safely utter:
Whereas the present and future pros
pcrity of the American people depends
upon the wisdom Of Congress III dealing
with the financial question; therefore,
"Resolced, That it is the duty OF Con-
cress Immediately to devise such modifica-
t9us Of the banking system as are calculated
|tprr.tore and maintain the credit and honor
o' tie Government and promote return to
rrecie payments with as little delay as may
bc found consistent with the best interests
Of The country
The resolution, as first read, contained a
clause in regard to prohibiting speculation
in gold, but Mr.. Chittenden afterwards, by
unanimous consent, struck it out, stating
that he had infornfasiDn that q prominent
MamJer Of Congress ,vSuld, at the next ses-
prepared bill calculated 90 stop gold gam
Hing by imposing heavy tax on specula-
,.)ns III gold.
The motion Of Mr.. Kirkland, of Baltimore,
10 refer the propositions under considera-
ton TO committee Of seven, With instruc-
tous 10 report at this meeting, was then
adopted, and The propositions Of the Bait,
more Board of Trade. of Mr.. Herbert OF
Baltimore. Of the ST, Paul Chamber OF Com
merce. Of Mr.. Hooper Of Cincinnati, of Mr..
Chttcuden, of Mr.. Grubbs of Philadelphla,
| Of MIR. Parr of Baltimore, Of Mr.. Ropes OF
Boston, Of Mr.. Hastie of Charleston, and
l.hcrs, were referred to the same commit
ee
The President appointed the following
'ommittce under the resolution MeSSrs.
kirkland Of Baltimore, Chittenden OF New
York. Ropes OF fBoston, Richards OF Chicago,
Iiiolton Of Milwaukee, Hooper Of Cincinnati,
and Hastie Of Charleston and the commit
lee were allowed to sit during the session OF
The Board. s.s..z., ..s. 81.
MARINE APPRENTICES.
On motion of Mr.. Kirkland, the regular
crder the james River and kanaWha canal
was POSTPONED to allow the consideration OF
the subject of marine apprentices. The
proposition is for the passage of law re
curing all American vessels under register
to carry one or more apprentices, accordne
Il their tonnage, SO as to secure supply oi
efficient officers and seamen for our marine
Mr.. Kirkland submitted memorial 10
Congress setting forth the scarcity OF good
sralneu in our merchant marine, that there
i, mach inefficiency, and that too many are
foreigners of little principle and OF no lnte.
rest in American institutions. 1t is claimed
that we should have native apprentices
American in energy and principle-wnio
iwl! make efficient seamen, and probably be
IL great use to our country in time OF war
The enactment by Congress OF carefully
considered apprentice law Is therefore
asked.
On motion the memorial was adopted,
and ordered to be signed by the PRESIDENT
aud Secretary and transmitted 10 eohsress'
aIvEB IMPROVEMENTS. 4t#
Mr. Cook. from the committee to whom
were referred the propositions in regard TO
ya.lwav bridges over nayigable waters. ETC.,
presented a report !; which was received,
but not discussed. 1t recommends the
adoption of the following resolutions:
"ResoEvea, That Congress be requested
10 make such appropriations as may be ne
cess.rv to remove from the Ohio and MIS-.
sis.ippi rivers all distractions to the free
aud safe navigation of the same and more
especially for the early completion, under
the supervision and direction OF Govern.
neut engineers, Of the work at the Faits oI
The Ohio, the Desmoine and Rock Island
Rapids, and the mouth Of the MISSISSIPPI,
so as TO afford an easy outlet 20 the Gulf.
"Resolved, That where 1t Is necessary 10
bridge the navigable waters for the Use o. o.
I;3llroads, or for any other purpose, .nat III
at construction of such bridges g que re-
transportation shoild be observed: in view
n which the National Board OF Trade ask
That the Congress of the United states
enact law that where bridges are pun. "