The New York herald., 1870-01-07
OPENING MEETING OF 1910.
The Great RecOmmenders In COuncil-Har.
bOr EncrOachments- Laws They
Favor to be AdOpted-The Postal TEL
egraph Idea ScOuted-The Silk Man
ufacturing Interest-Dritish Capt.
tai in American Securities
Address Of David Chad.
wick, M. p.


fossils present at the nour for opening the meeting.
After the disposition OF the ordinary business Messrs
Gustavus A. Brett and Thomas j. DAILY were duly
elected members Of the Chamber.
Mr. X. p. BUCK, from the special committee on the
bill proposed in the United States Senate in regard TO
on the harbors, reported. The COM
mttee regretted that they had not had time to set for
ward the arguments IN favor Of the passage of the
law. He referred to the fact that corporation in
a neighborlng state was already making encroach-
ments ON the harb0r, and such as would retard
the now OF the tide ana lead ultimately to the de-
struction Of the harbOr OF New York. The report
stated that the corporation alluded TO was filing IN
a space about four miles long and half q mile wide
on the westerly shore Of the Hudson river. The
mittee approved Of the bill as amended by Senator
Morgan and recommended It's immediate passage by
Congress. Mr.. Buck then read the bill, which re-
commends as follows:-That the President appoint
a board OF harbor commissioners-1ve to be taken
from civil life. with the Chief OF Engineers Of the
war Department, Chief OF the Bureau OF Navigation
OF the Navy Department and the Chef OF the United
States Coast Survey as eE o0'cio members-to be
under the control OF the War Department-the
board to determine the boundaries OF harb0rs-the
limits beyond which no encroachment shall be made
without special authority from Congress- ANY work
which this board shall regard as encroaching on any
OF the navgable waters OF any harDor may be stop
ped by an order OF the board until and unless autho
rized by Congress. Other provisions are made, but
are Of no general importance.
A motion was made to adopt the report, where
upon Mr.. A. p. HIGGINS rose and stated that he
appeared in benalf Of "great mass of his friends,
VINO lived on the route OF the New Jersey Central
road, against which road he thought the committee
had auinadverted in their report He thought the
matter should be referred back to the committee,
especially as they stated that they mad not mad ume
wish. He then presented map Of the improve
mens" being made and proposed to be made by The
New Jersey Central Railroad.
Mr.. DODGE having resigned the chair to Vice Pres-
dent Opuyke) opposed the adoption OF the report,
masmuch as he thought the alluson to the New
Jersey Central unjust lie explained at length
the 'magnllicent improvements" that that corpo-
ration intended to make, ana ne thought
aid instead OF interfering with the navigation. He
objected TO the plan OF the proposed bill OF senator
were made only er oNcl0 members OF the board.
while five civilians, who might know nothing about
the subjects entrusted to them would have power
To stop any work they may see tit TO object to.
The debate then became somewhat general and
was participated IN by Messrs. COnking, Dow Buck,
Higgins and Low The latter gentleman
strongly in favor OF the adoption OF the report ana
the passage OF the law He thought that the bill
was intended TO provide against encroacnmenis Oh
any Of the narbOrs OF the country the five commits
SiOnerS would be selected from the country at large
The question OF referring the report bacK to the
committee was lost, and the motion to adopt was
carried.
The SECRETARY (Mr. Wilson, then read commu-
cation iron Mr.. Paine. member Of Congress- IN rea-
ton TO a bill introduced by him In Congress author
izng and requiring the Secretary Of War to provide
Tor taking The necessary
METEOROLOGICAL OBSERVATIONS
at the military stations IN the interior or the Cont
nent and for giving notice on the inland lakes and
Atlantic coast by means OF the electric telegraph, of
the approach and force OF storms.
On motion special cOmmitIee OF three was ap-
pointed to consider the matter The President suo-
seQuently appointed Messrs Dow, Jones and Maury
such committee.
THE POSTAL TELEGRAPH,
or rather the resolution adopted by the Board OF
Trade Of Newark requesting. Congress TO pass bill
establishing lines OF telegraph in the states and Ter
rltOrles, to he operated by tue government, In
nection with the Post Office Department, Was read
by the Secretary AZ communication from the Board
OF Trade or Newark. This seemed rather uncon-
genial TO the fossils VINO we're present one OF whom,
without rising from his seat said in the most deci-
stve tone he could command, "Lay 1t on tho table.n
Another member OF "some" political nOtorlety stood
up and inserting his hands ia his panaoons pockets
ito refer It to committee, with Instructions 70
port year hence" ''If they liken was added soto
Uoce by another Of the high Old law makers. The
motion ITO lay on the tablet was adopted
Mr.. David Chadwick, NJ. r., from London, Eng
land, was then introduced to the Chamber by the
President.
Mr. CHADWICK proceeded to address the gentle
men present In regard 10
THE SILK MANUFACTURING INTEREST.
lie referred to the report OF 1863, Dv Mr. Capron,
Commissioners OF Agriculture In tue United States
In which. he said, he found most complete and inte-
resting details Of the silk culture. He stated that
the value OF raw SILK now manufactured exceeds
$500 900 annually; that before the war; IN 1852
the United States had purchased SIT 600 900 worth
of French Silks and that the value Of the silk now
manufactured at Paterson and elsewhere In this
country was from $4,000, 600 to sle eooo, 600 per
annum. He referred TO the easy and agreeable task
OF cutivatng the silkworm in any country where
the mulberry tree n0urlshed, and stated that Cali
greatest and richest silk producing market In the
world. Besides, Its proximity 10 China and Japan
would permit OF the ready importation OF laborers
making OF silk. He stated that owing to the disease
III the silkworm-arlsng IN great part from the fact
that the worm had not been properly tended, and
also owing to the internecine wars in China and
Japan-the price OF SILK has increased FULLY 100 per
cent within few years. He referred to the work
and recommended the establishment OF similar
association III this country or the appointment OF
York to take charge OF the matter. He stated that
ELK could be produced In any country regardless
almost OF railroads or modes OF travel, as the
commodity was 80 valuable 1t would pay to
carry it, He said the silk could be made
up into coc00ns, something ike bales Of cotton,
and transported from California TO Paterson Mac
ciesfeld or Coventry, any part of the world with
out damaging nbre. be referred to the careless
and inferior manner IN which the raw material was
now shipped, and SAID that by little proper care II
could be remedled. He concluded by stating briefly
the facts that California peculiarly adapted Tor the
cultivation OF silk that the cultivation s cleanly,
agreeable and profitable; that twenty the area
in which SILK is now produced could be made valu-
able by the cultivation oil the worm ana the manu-
fac:ure OF silk that while In China tney have three
crops per annum they could IN California produce
SILK the whole year round
At the conclusion OF his address Mr.. Chadwick
heartily appiauded, and then, on invitation by
the President, lie gave some interesting MINIS IN
gard to the Investment or
BRITISH CAPITAL IN AMERICAN SECCRITIES
and the cause which led TO the depreciation OF
American railway bonds in Europe. lie came over
here, he said, representing some $50 00J 600 now
invested by English capitalists III American railway
securities. From these he said, II found dim
cult 10 collect any revenue. great deal OF 1t had
beeu invested Ia bonds for seven years, and some
there mad been no returns for three years. He
stated that the presence OF this great evil-nO
turns OF interest or prncipahe want or concur
rent jurisdiction among the judges, and the whole
sale distribution OF injunctons have created great
deal OF dstrust In Europe, and untu the law Is
altered the capitalists Will not invest IN American
securities From the effect OF the Judi.
clary movements IN New York; and tue
proceedings in the Supreme Court OF the
State OF New York. the consequence Is
that every American security has deprecated.
The stock OF our European railroad, which pays four
and half per cent Will sell at par III London, while
and American railway can only sell for par when
paying seven per cent He suggested that some
action should taken by the Cham or Commerce