, 1870-01-28
~ - 81
81 81 = :: > TEn 1Es. IL u ::
THE WAREHOUSE CONTROVERSY.

The noa1d Of Trade Of this citS has, by
unanimous vote, decided in favor Of the
principle Of having all receipts for grain in
warehouse registered. whereby the public can
knor AT M. time, not only how much grain
is IL store, hut how many warehouse re-
eeipts arc in circulation. Purchasers OF
surA ree+iYts. snd bauks which advance
uurey on them, will have some degree Of
p1c,ec,itn against apy over-issnes, and
warehouse men will be relieved from the
cemncn imputa,ion that they have made
ovty-issu.s. This regulation has not yet
gone iftt effect. 1t remains nov for the
hoard atsl the warehousemen to agree Upon
sA1re plan of putting it into practical opsr-
Lt:on. In matter OF so much Importance
there oueh, TO BIZ united action, aud such
regulations adopted as, while securing the
end sn';Ghs, will be satisfactory to all in
terests- The wasehousemen ought to meet
The Es:ard cf Trade in q spirit of acconmo-
datior, ard agree upon system Of regis
t1atior ,Lst will meet all The requirements
Of the Case.
Some cf our exchanges ara publishing
e1trarts from the discussions Of the grim
wastIuasc system, ard seem inclined to
use II eth ss arguments in favor Of turning
tho vtlune Of the grain trade elsowhere-
We do rot spprchend that the business Of
tho city will he extensively affected, one
was Or tie ottrr, By such arguments, be-
cause L"iders of property generally under
stand theis interests well enough to
send it nhete they can realize the
most money for it; aud those to whom
Ch!caE, is The hest market will eontinue to
patro1izr il. But We submit that such
procedure is scarcely generous or just.
The er+at miss Of grain operators arc
an1icus to purge the bunness Of its bad
features, so ;hat people in the country, as
we'll ns IN this CITY, may be certain Of hon.
or.sile t7enl;pg in nil cases. The attempt to
prove thIt Chicueo n1en are wosse than
those cf other places is pure
NJ. sepsA : human nature is much
tie same everywhere, and a
hundred men can scarcely be found, in any
community, 81 whom it could be predicted
that hnt one Amt,ng the nu1nber would be
dishonest. under circumstances favorable to
tie commission OF fraud. 1t is the system
that needs reform, to prevent the possibility
Of wrong. Eur the warehousemen Of this
city, it may lie trntbfu11y asserted that they
have taken less advantage Of their position
than nany men would have done; and
xe tbirE it rather creditabIe to Chicago,
than o,hrraise, tlnt rot single warn-
housemnn 10 this city has yet fnilel to meet
Lis obligations.
Great "1: II es have been raised ia the
cou:iry i: different times against tbs ware
Lous.u ueI Of Chicago, and many grave
charges tnse i,eer circulated to their dis
c-edit. That some Of these allegations
hive lnrn warranted by the facts, there is
lit:le doubt; but it is also fair
to FAY that many Of them could
not pcss,bly he tree. But, taking
these charges as stazlrg point, the grain
dealers Ere anxious that the system shouli
be so charged as that any man interested
may be a'Ac 10 ascertain for himsaN wha
Foundation there may be TO. blame. Lc
not the position lie u1sunderstood, becaus
the faults Of the sltuation are freely car
<Asscd. Il is not that We are less honest
hut That We are disposed to be more car
did thtn our pelgbbors. that the presen
1n,vcn, eft h.6 been undertaken.