The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1870-12-12
BUFFALO, n. Y.
Meeting of the National Board OF
Trade. 'F-.'-

Meeting Of the National Board o
: Trade. 'E
BUFFALO, December l0.-In the Ma
tional Board of Trade, the Presiden
announced that the ex-Council had de
termined to inaugurate system for th'
collection of monthly statistics from
the various boards Of trade for censoli
dation.
The Secretary read the following dis
patch from the Postmaster General:
To Hamilton r. Hill, Secretary NatiOna
Board Of Trade:
| return my thanks TO the National
Board of Trade for the resolution in favor
of abolishing the franking privilege.
deem their action very important, and
believe it will have great influence in
perfecting our postal system.
(Signed), JOHN A. j. CREswELL,
Postmaster General.
Mr.. Weiherell, of Philadelphia
offered resolution affirming the act oi
the board in Richmond last year, viz
ResOlved, That the best interests of the
country imperatively demand restora'
ton of the specie standard Of values al
the earliest possible period.
Mr.. Allen of Philadelphia, offered a
resolution as amendatory:
RsSoLoed, That the resumption ol
specie payments can only be permanent
ly effected when full crops, successful
industry and restored political harmony
shall cause gold to flow better and re
main with us.
ReSolped, That a premature resump
ton will prove curse and not bless
ing.
Mr.. Taylor, of Cincinnati, offered the
following resolution:
ResolveL, That in the opinion Of this
Board the best interests of the country
demand the restoration Of a specie
standard a; the earliest practicable
period, and that this can be best accom-
plished by steady moderate contrac,
tien of the greenback currency.
Mr.. Chitttenden, of New York, said
that the time had passed for Congress
to hasten resumption of specie pay.
ment. 1t should have been done at
the close the war when gold was l20.
The people of the country would rot
listen to contraction now, though we
probably had more paper money than
was necessary. No nation had ever
made more rapid progress to safe
position than we had. Speculation was
at lower ebb in this country than it
had been for years previous and mer-
chants bought just what they wanted
and no more. He was in favor Of let
ting the subject alone.
Mr.. Wetherell entirely agreed with
Mr. Chitteuden.
Mr.. Oden, Of Milwaukee, Wisconsin,
spoke at some length claiming that the
present premium on gold was not to be
taken as indicating our approach to
specie payment We had adopted in
Dur currency two standards of value,
that of our greenbacks and that of our
bonds.
Mr.. Grubb, of Philadelphia, thought
that the whole thing was in nutshell,
the Treasury acting az national bank
should lake charge of and regulate the
matter 1t was simply a question OF
courage. He proposed to prevent bank
ruptcy and introduce into finance what
we introduced into the rebellion, mar
tial law The United States must be
incorporated in the present banking sys-
ten and work in common with it.
Mr.. Roper, of Boston, was prepared
to advocate the resolution of Mr.. Tay-
lor, but would prefer to have the matter
put in some more definite form before the
body. He did not think we could fix
upon any time when specie payment
could be resumed, but some plan might
be devised by which we would eventu-
ally arrive at safe and permanent re-
sumption. lie did not believe it pos
sible 10 resume specie payment in a very
short time 1t probably might be done
in two or three years. A contraction OF
currency had never, and could not injure
the country. The remarks OF Mr..
Roper, extended to some length, were
eloquent and emphatic, and were listened
to with deep attention by the Conven-
ton. Adjourned.