New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-02
NATIONAL BOARD OF TRADE.
MEETING AT RICHMOND, yA.-FREDERlCk fhA s,
LEY ELECTED Observation-Disclosures of "EN
HIRAM WALBRIDGE.


Philadelphia President. in the chair. Prayer was Oh.
fered by the Rev Charles Mnnegenode of the Episcopal
Church Thomas McCauce Of the Richmond Chamoer %
Commerce delivered an address of welcome. Ine su'
dress is as follows:
Before you proceed to the regular business which mas
convened this Board beg leave TO perform most agIce
able duty behalf of the members Of me kcnUmu
Chamber OF Commerce, and may add OF TINS cOnuu
nifty; desire few sincere ana earnest Mou - a.
press the m @ no MIN % e we receive You with
warm greeting and tender you q most cordial wec0me:
1t shall DO endeavor to make you feel enrGy ~
home among u.s. We greet you not only personally Dut
as the representatives OF many communities OF our d
now happily peaceful land 1t is double pleasure TO
have this opportunity to cultivate Win tnem tnat SPile
the descendants Of common ancestry the p0ssessOso
common heritage once more hd TCN rcs Welcome for
These limited states though Of such rapid growth and
arrived at such high prominence among tho
nations OF the earth are yet IN the IIe fresh J
financial policy are constantly arising vitay important
In their upon the general welfare and requiring
subservo the highest interests OF the people NO TABOR
counsel be Of more value at tins day than suc a' 10
devoted to the wise correction OF public senent ~
connection with these measures. Commerce ana inter
course are pioneers OF peace and plenty AS they
advance peace and prosperity Ioow anu Iscp v for
strife disappear. On their aid we must MAINLY rely VI
down The natural and artificial barriers dividing the
States sections the strength and endurance OF ose
peace and brotherhood and for the future wealth ana
power Of the nation. lApplause'l
The report Of the Executive Council for the past year
was received Among the most prominent questions TO
come up IL states, weights and measures convey
ance Of real estate regulation OF joint stock companies
legal rates for the Of money and tho relations De-
tween debtor and creditor In the report was tribute
TO the memory Of James r. Branch OF Richmond one OF
the Presidents Of the National Board who was acc
dentaly killed last Summer. At this point tho members
OF the Board rose and heard the tribute read In silence
The Board then proceeded elect officers for tho en-
| suing wear. Frederick Fraey Of Philadelphia was
elected President In taking his seat he said that he had
almost known the commerce OF this country from us IN
fancy watched its growth to It's present proper
tions: 1t was so great that man In public lilo coud
afford to overlook its claims to ignore tho action of
such representative body as this. lie thanked the
| Board for the great honor done lin.
The Board then proceeded the election Of VccPresi.
dents, and the following gentlemen were elected vice.
| Presidents:
! X A. Kirkland Of Baltimore. Avery Plummer Of Bos-
ton c. 5. Hazard OF Buffalo, George Opdyke OF New
York, W n Eagan Of Chicago. A. Gano OF Cincinnau'
George L. Bagley OF Detroit, j. W Taylor OF 81 Paus
j. Potter Of Louisville L. ID. Haen Of Milwaukee; d.
Burr Richmond j. ~ Brown Ol rV % ha,e-tan
! A communication was received from the Western
Union Telegraph Company rendering free use OF their
telegraph lines to the members OF the Board during the
session.
Gen Hiram walbrldge of New-York. then delivered
the following address:
SPEECH or GEN. HIRAM wALBRIDGE.'
| Mr. PRESIDENT AND GENTLEMEN: When addressing
body such before called together to consider
the commercial relations OF the whole natonmen repre-
sentng individual interests but assembled TO CONFER
upon that most vital interest the webeng and prosper
ity OF the country sopersons skilled in all that per-
tals to material deveopmen-I would be ialse 70
the occasion and the asscmbage dd not nj the outset
recognize the duty OF laying aside political partisansp
In every II H. however Impossible not TO refer IN
some degree to great political questions since the policy
~ be National Goyernment intimately connected with
the material development OF the country yet enTey
possible for enlarge our conceptions as 10 look
beyond the contracted horizon which party prescrbes
This vast continent teens with virein wealth. can we
lift ourselves to an elevation from when is Woe
boundaries may be seen ana parry pre- uIc S the
towels which the lavish hand OF nature has strewn
broadcast suracei Nothing In the past Is IKE
tbe public men of tins generation. No such response
bity has perhaps. fallen upon people as events
should DO met brayely fearlessly aud honestly. IL
is the high duty Of this Convention to suggest some
means by which the hidden treasures OF our vast terri
tory may be rendered available believe the fortunes
Of the Republic greatly depend upon ne sPeedy 'Sob
But before looking the resources Of the Government
II Is proper first ascertain It's existing obligations
| THE PUBLIC DEBr.
The public debt OF the United states on the lot day OF
| November. 1863. Is officially given
Debt bearing interest In coin s2lOl $500
Debt bearing interest In lawful money. tl5lONO
On demand and pCnsOn I'@I'Vo
total OF interest paying debt 22Go7SsOO
| Add TO this debt on winch interest has $1,000.
Debt bearing no Interest I?isSo92O
92O
From which deduct coin currency hand In the Treas
ury leaving the whole Of public debt ST. i9O2.
decrease In the debt from March to Nov. J. 1869. OF
S6iS32O7O and the debt. at the date Of speaking,
has been stil further reduced 10 over SO0O0G0 The
recy; add to this the expense OF administering the
Government, which last year was k229yl3O5S, ana We
have the sum TO De annually raised by the
| General Government To be, however, entirely within
limits, will suppose that an economical ADMINISTRATION
NAV reduce This sum 10 $4,000 OOO-a sum which feel
sure ia certainly within hounds But In addition 70 ths
the Of the several states should be considered
Delaware) In which the slaves were cmancipated have
aggregate debt OF t577iiG99, on when there u an
the state Governments must increase this sum to s2O-
900, tho amount TO be raised by them annually
The remaining States have an aggregate debt OF si7
Az O3i the annual interest which Is ss55Ol2; add to
this tho other expenses and you VIII have not less Ia
raised annually by the hitherto free States But this Is
very being the real indebtedness Of the whole
country 1t should borne In mind that the counties,
cities towns villages and other corporations In all the
States very largely indebted, ana IN many instances
the taxes necessary these liabilities exceed oil
all other together To enter more into detail In
reference this aforementioned indebtedness would
| transcend the limits have prescribed 10 myself The
| simple suggestion must, therefore, suffice.
The PENSIONS the bounes, and other unsettled claims
which followed the wars OF l76, 1872 and 1885, far
| ceeded the actual expenses OF the war themselves.
Should not expect this TO happen again. NO ec0ho-
mist would be usabo in disrek ardng this source Of
indebtedness in estimating the liabilities OF the whole
nation. While these various Items should DO borne IN
ment that Indebtedness which be stated In figures.
The estimated population OF tho entire country Is 50 i22
| gg5 simple calculation will show that the National
Government must levy annually, directly or indirectly,
tax OF 50 loiOO upon each Individual The population
OF the fifteen Slave States before referred 10 Is estl-
mated at I3lOi55l. These States must levy annual
tax OF 81 80 per head while the original Free states
eOs Of Inc VARIOUS The next
may show q somewhat larger population, but the
thus be seen that the people OF the South. nOtwlth-
standing the losses sustained by the raNages OF way
will have TO pay ayeary tax OF about Sl 20 per mead and
|