The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-12-06
THE NATIONAL BOARD OF TRADE.

RICHMOND, December Am the Board oi
Trade to-day, the question Of specie payments
was resumed Mr.. Hastie, Of Charleston, s. c.,
did not think this was the time for specie pay
ment. The South was not prepared for it, and 1t
was to her cotton crop, he thought, that re-
sumption would at least be due. It was better to
wait for this crop and the general commerce OF
the country to bring the currency to good value.
He ofYered resolution to that effect.
Ropes, Of Boston; Trezevant, OF Memphis;
Campbell, Of New Jersey; Holton, Of Wisconsin.
Herbert OF Baltimore; Chittenden, Of New York,
and Cullen, Of st. Louis, followed, and the whole
subject was then referred to committee OF
seven, to report at this session on all plans sub
mitted. The committee consists OF Kirkland, OF
Baltimore; Chittenden, Of New York; Ropes, OF
Boston; Richards, Of Chicago; Hclton, Of Wlscon-
sin; Harper, Of Cincinnati, and Hastie, Of Charles
ton.
The following propositions were referred to
this committee: BY Parr, OF Baltimore, opposing
expansion OF currency, and favorlng legislation
looking to contraction and early redemption; by
Grub, Of Philadelphia, affirming that the estab-
lishment. by government OF chartered fiscal
head and regulator, combining private capital
and endowed with privileges sufficient, presents
the surest remedy for present currency evils; by
Herbert Of Baltimore, to aoregate the three ffths
credit balance reserves, to prohibit payment OF
interest by national banks Of creditor balances,
to enforce redemption Of national bank notes SO
they may be sent back to their localities for re-is
sue and to require reserves to be held in the re-
spective bank vaults in money and not in credit
balances in other national banks at distance
and finally repeal Of the ten per cent. tax on
the circulating issue Of national banks.
The twenty ninth proposition, asking Congress
to REQUIRE all American vessels under register tc
carry one or more apprentices, so as to secure
supply Of efficient officers and seamen for our
marine, was taken up and the proposition
adopted.
The committee on the propositions relative t(
the Ohio and Mississippi Rivers reported, recon-
mending that Congress make appropriations fol
rendering navigation Of the Ohio and MISSISSIPPI
Rivers free Of obstruction, especially at the Des
Moines and Rock Island Rapids; that bridges ovel
these rivers should have one span over the chan
mel, four hundred feet long and sufficiently higf
not to obstruct navigation; that in bridges ouli
over the Mississippi, above the mouth Of the Mis-
souri,, there shall be one span three hundred fee
long, and that the construction OF the piers o.
such bridges be superntended by government EN-
gineers. The report was received, to be called
up in its turn.
The twentieth propositlon-the James Rivel
and Kanawha Canal-was taken up, with repor
of the special committee on the same, which set:
forth that continuous line OF water communica
tion between the Mississippi River and the Allan
tic seaboard is imperatively needed; that thu
lanes River and Kanawha Canal, If extended t
the Ohio, has special prominence, and that in th
work all private and cooperate propretorshil
should be first removed, then government Should
grant aid; then, after the canal has paid bacl
the money spent on it by the General Government
and State of Virginia, it shall be free the cana
collecting on tolls sufficient for its repair.
After advocacy by wetherill, OF Philadelphia
Irrelevant, of Memphis, and Jones, OF Iowa, tn
report and resolution of Mr.. Monroe, for memo
: riallzIng Congress to carry it into enecf' wer
adonted by vote Of 80 yeas to 10 nays.
The committee on resumption OF specie pay
ment wSsenlarged by the addition Of Grubb,
Philadelphia; Darlington, Of Richmond; Taylor
of st. Paul, and opdyke, of New York.
AT night there was dinner 20 the Board