Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-12-05

Yesterdays Proceedings Of the Ma
tiOnal Board Of Trade.

RICHMOND, VA, December 1.-THE
ouestion of the resumption of specie
payment was debated at great length
In the National Board OF Trade to-
dav. Mr.. TreZeVant, of Memphis,
thought confidence in the Government
would restore specie value. The
whole subject was finally referred to
commiNee of seven, to report at this
session on all plans submitted. The
Committee consists of MeSSrs, Kirk
land of Baltimore, Chittenden Of
New York, ROpas of Boston, Rich
ards of Chicago, Hutton Of WiscOn-
sin, Hooper of Connecticut, and
Haste of Charleston.
The following propositions were re-
ferred to this Committee:
By Mr.. Panas, Of Baltimore: OppOs-
ing the expansion of currency and IA
y0ring legislation looking to the con-
traction and early redemption of the
currency.
one by Mr.. Grubbs, of Phila-
delphia, afiirming that establishment
by the Government of a chartered
fiscal head and regulator, combining
private capital and endowed with a
Sufficient sum TO present the surest
remedy for the present currency evils.
By Mr.. Herbert, of Baltimore: To
abrogate the 3-50s credit balance re-
serves: to prohibit the payment OF
1 the interest by the national banks OF
the credit balances; to enforce the re-
demptiOn of the national bank notes
so that they may be sent back to their
localities for reissue, and to require
! the reserves to be held in separate
/ bank vaults in money, and not in
credit balances, Orsin other national
/ bank notes at a distance; and, finally,
the repeal of the ten per cent. tax on
the circulating issue of the national
banks.
The twenty-ninth proposition, ask
ing Congress to require all American
vessels under register to carry one OF
more apprentices in order to secure q
supply of efficient officers and seamen
for our service, was taken up and
adopted.
The Committee on the Ohio and
Mississippi Rivers reported recon-
mending that Congress make an ap-
preparation for rendering navigation
on these rivers free OF Instructions,
/ especially at Des Moines and Rock
| Island rapids, and that the bridges
over these rivers should have one
spau over the channel 400 feet long
and sufficiently high to not Obstruct
navigation, and that bridges over the
Mississippi above the mouth of the
Missouri shall have one span 300 fee
long, and that the construction o
the piers Of such bridges shall be su
perintended by Government engin
eers. The report was received, anC
will be called up in its turn.
The 30th proposition, the james
River and KanaWha Canal, was taker
up, with the report of the special com
. mittee on the same, which sets forth Z
continuous line of water, connecting
the Mississippi river and the Atlantic
seaboard, is imperatiyely needed, anC
that the James River and kanaWh;
Canal, if extended to the Ohio, ha
special prominence; and that IN thI
work land pirates and corporate pro
prietOrs should be first removed, ant
then tine Government should grant aid
and then, after the canal mas p9lt
back themoney spent on it by tn
! General Government and the State o
! Virginia, it shall be free canal, col
lecting only sufficient toll for its re
t pairs,
The resolution memorialiZing Con
gress to carry the James River ant
kanawha Canal into effect was adopt
ed, and a motion prevailed that tn
Government put the work in tn,
; hands OF tIusteess