The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-01-19

~ tnc regular btaJeu meetlng OF the Board OF
Trade, held on Monday evening, the following
interesting report was presented and read:-
PHILADELPHIA, Jan. 10, 1S70.-To the Execu-
tive Council of the Board of ade-Gentemen:
The delegates selected to meet the Convention
OF the National Board of Trade respectfully re-
port that they, in acceptance with the duty as
signed them, attended the Convention at Rich
mond, Va, on the first of December
The resolution offered by the Philadelphia
Board, in regard to local licenses, was, aftefa
full discussion, adopted bya large majority,
and the national board, through its council was
instructed to memorabilia the Legislatures of all
the States to institute such proceedings as shall
cause total abandonment of all regulations
discriminating against nonresident traders and
agents, and that copies of the memorial be sent
to the local boards.
The amendment suggested by the Phiadel-
phia Board of Trade to the resolution organizing
a Department of Commerce. by adding the
words land trade" was fully discussed, and the
board concluded to allow the title to remain
"The Department of Commerce, but endorsed
the action of the Philadelphia Board by adopt
ing as one of the requirements, ito which shall
be referred all questions connected with the
foreign and domestic trade of the country" This
fully covered the views of this council.
Your delegates were not unmindful OF
the views of the executive council as ex-
pressed by their action upon the schedule OF
resolutions submitted for their consideration
before the meeting of the National Board and
the resolutions adopted by them, and appended
to this report, with one exception, show that
the resolutions voted down by the National
Board were rejected also by the council. That
exception was the resolution in regard to the
Virginia water line. 1t passed the body, how
ever, with this modification, THAT if Govern
ment aid is secured, IL is to be expended in such
a way, through trustees appointed by Congress
and under the direction and control Of Govern
ment engineers as to avoid the usull objection
urged against such subsidies, namely: the simple
advance of money by the Government its ex-
penditure beyond its control; and Congress- ms
to the manner in which the money is expended,
in entire ignorance"
The subject of finance occupieda considerable
portion OF the time of the convention, and was
debated not only in committee, but also by the
board. The differences of opinion on this import
ant subject were as wide and as varied as they
were at the last meeting of the board. Every
delegation offered its distinct solution of the
problem. Our delegation presented two propo-
sitions-one by Mr.. Fraley, looking to the
custom house as the point upon which the
rayelled skein of finance must be gathered up;"
the other by Mr.. Grubb, in resolution of ten
lines, prompted, as he said, by the conclusion of
thirty years reflection, upon the subject, as fol-
lows:-n Resolced, That the Treasury of the
United States worked as bank, with the public
money in its keeping and in addition such pri-
vate capital as may be necessary, chartered for
term of years, will be able in the
opinion of this board, to supply every
remedy necessary in restoring the pre-
sent financial system to a sound condi-
tion. None, however, of the varied views of
the different delegations were adopted. and the
board, after a days discussion, deemed it best
to simply re-enact the Cincinnati resolution by
IN general terms, announcing 'that, the best
interests of the country imperatively demanded
the restoration of the specie standard of value
at the earliest practicable period"
On tie resolution to abolish the duty upon
railroad iron, amended to include coal and salt
the entire subject of free trade and protection
came before the convention. During the dis
cnsslon the fact was revealed that the free trade
element now, through its representatives SO
actively at work over the whole country, is also
looking to the National Board of Trade for an
Endorsement of its abstract and impracticable
policy. This was evinced throughout the entire
debate by the applause which was in certain
quarters given to every distinct and forcible
remark in its favor. Although your delegation
report with pleasure that these free trade reso-
lutions were voted down by the borrd, yet they
would urge upon this council the importance of
using every available influence to set forth and
make known the fallacy of this'perniciouS policy,
and to take such action hereafter rs to meet fully
and successfully any attempt made, either ia the
national board or elsewhere, to secure the in
dorsement OF SO dangerous q doctrine, and one
so fatal to the best interests of the country
The amendment to the constitution of the Ma
tlonal Board recommended by the Board, in re
gard to the qualification of delegates, was dis
cussed; and though no conclusion was arrived
at, yet 1t was universally admitted that none but
merchants, or those identified Herewith should
be sent rs delegates. 1t was reported that in
tHe convention tnlb year Dut three members
OF the body did not come up to this ruling
One of these, Judge Cullen, the able representa-
tive OF the ST. Louis Board of Trade, in his re-
port to his board thus expresses himself:-
After deliberate reflection, think it will ad-
vance your Interests if hereafter you will send
as delegates to your commercial conventions
only mercantile gentlemen. l saw such were
capable OF making more concise arg uments than
lawyers, for 1t was easily observable that argu-
ments advanced by purely mercantile delegates
We're accepted because suggested by experienced
and practical minds, and not put forth by mere
advocates of theories. Besides, / am convinced
by the capacity displayed in debate, that you
cannot procure as able exponents of your inte-
rests and views as is to be secured by gentlemen
selected from your own class. Your delegate"
he adds, has never heard SO much excellent
speaking, such well-directed blows, such clear
logic as evinced in the discussion of mercantile
propositions and concludes by the question,
why then send lawyers to attempt that which
merchants alone can accomplish" No better
proof OF the correctness of the amendment need
ment of the convictions of the professional dele
gate from St. Louis. - n
Your delegates cannot conclude their report
without alluding to the extremely kind and at
tentive manner in which they were received, not
only by the members of the Richmond Board of
Trade, but also by the representative men of
Richmond.
Respectfully submitted by |
Ef- JOIN T. WETHERmL,
t+H f. FRAIEY,
-esrsesrs-s JOSEPH c. GRUBB,
SAMUEL z. STOKES,
nala