The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1869-12-06
TnENArIONAL BOAHD OF TRADE.
DIsrussionl ON Resumption.
.r.r. RJ0r,NTnnn Va nar,

s.. '. - ShlCHMONDI NAt DoCs a.,
At the session of the, National Board
Of Trade To- day. the question of the re-.
sumptioniof specie payments was taken
up.
Mr.. Hustie, OF Charleston, did not
think this was the time for specie pay
menta. The South was not prepared
for II, and II was to her cotton crop he
thought resumption would ut last be
due. It was better 10 wait for the crops
and the general commerce Of the coun-
try TO bring their currency to gold
value. He, offered q resolution to that
effect, ] InlAil lug lNNl sNat
Mr.. LeVory, of Memphis. followed In
the same line Of remarks.
Mr.. Ropes. OF Boston, stated that the
whole Of the Government bonds In the
last four years had all advanced above
par, yet'gold to day was barely lower
than It WAS four years ago, showing
that while the confidence In the Gov
ernmant had raised the value OF Its
bonds, 1t did not permanently affect the
price OF gold. He urged u postpone
ment or the matter until the next, meet
Ing Of the Board. or, at least, until Con-
gress met and the Presidents message
had been heard. Z - 4 j.
Mr.. Campbell, OF Newark, N. j., gave
the history OF EnglRnd's attempts to
resume and her failures until 1925. and
the panic which followed. When
eventually she resumed, It was by con.
traction. No Government can legisIAte
confidence into lis promises to pay itS
ability TO pay as Judged Of by the
creditors and aS they are good business
men they will not force their tardy
creditors into bankruptcy. All this
government wants Is time to pay Its
debts. The manifest decrease OF the
public debt In the last six months
shows this. Let a circulation 20 on for
two or four years without contraction
or expansion and the Government will
be In condition to resume, and may
then safely resume by making q gold
loan which would make resumption
easy aa we'll as certain, and by that
time 1t would have established such a
credit In Europe by the reduction Iof ItS
debt that gold could be obtained as low
as 4 per cent.
Mr.. Holton, OF Wisconsin, thought
the only wayto Constitutional money
was 70 get greenbacks out Of the way.
Mr.. Herbert, Of Baltimore, did not
bV4lNNV "0 8SAAA kGnuLuo dUGGl6 IAYS
ments for the next i've years without
the destruction OF the commercial inte.
rests Of the country, he believed In Mr..
o Opdike's opinion, that the country
must grow up 10 the situation and
not contract or expand. ,, 'fi
Mr.. Chittenden; Of New York, moved
rs q an bstltute for all the propositions,
that Congress be, asked 10 devise such
FNNrAk AH hi.
and measures for the suppression OF
speculation In gold as are calculated 10
restore the credit and honor or the Gov,
eminent and promote return TO spe-
Gle pay ment As soon as II ia consistent
with safety. The whole subject was
then referred. A committee or seven
to report At this session on all plans
submitted on the 10Th proposition, ask!
ing Congress TO require all American
vessels under register TO carry one OF
more apprentices, TO secure n supply OF
efficient officers, and taken for our ma
rlne, was taken up. The proposition
was adopted.
The thirtiath proposition, The James
River and kanRwhA Canal was taken
up, with the report Of the Special
Committee on the same. which sets
forth that continuous liue OF water
communication between the MlsslsaIp.
pi river and the, e,tAtlAntic sea board ID
imperatiyely needed. That the, James
River and Kanawha Canal, n extended
to the Ohio. has special promInence.
and that In this work all private and
corporate proprletorship should be fret
removed then the Government should
grant aid, then SITTER the canal has paid
back the money spent on II by the
general Government and State oflVlr-
giniH, 1t shall be a'free canal, collecting
on tolls aufficlent for IR renair, 'l1l
MIR. Monroe, OF Dubuque, advocated
the report. rf,r'l Il! /. ,l.lR !,
After recess the debate on the water
line WAS resumed. After the advocacy
by Mr.. CotrIngton, Of Virginia; Mr.,
WallbFidge, ofNew York, MIR. with
erell OF Philadslphla, aud others; the
report and resolution OF Mr.. Monroe I'M
favor OF memorlallzlng Congress 10 car
ry II iutOu effect, were adopted. The
vote was received with loud applause,
A motion was adopted instfuoting the
Executive Council 10 suggest TO Con-
gress the putting OF the work OF ex-.
lending the canal Into The hands or the
trustees appointed, by. one Uf each OF
the States Of Missouri, West Virglnia,
Arkansas, Illinois, Iowa, Ohio, Indiana
Wisconsin and Virginia, and one by the
General Government. 40
hAdlonrned TIL Monday. ,f.......
A dinner was given 10 night nj The
Exchange Hotel, 10 the members OF
the National Board, OF Trade. There
were three hundred persons present,
including nearly. every leading citizen