The New York herald., 1872-10-16
NATIONAL BOARD OF TRADE.
The Welcome Extended to Delegates by VIM. E.
Dodge-Response Of President Fraley--A Ca
madam Delegation Requesting Reci-
procity Treaty-The Question Of In
vestment of Insurance Funds.

The National Board of Trade OF the United States,
representing about forty local boards, assembled in
the Chamber OF Commerce yesterday at noon. The
printed programme for the guidance OF the men,
bers shows thirty-nlne subjects to be considered,
which will likely occupy the Board for week.
Among the more important OF these are :-'Invest-
ment OF Insurance Funds" tissue of Scrip Divi-
dends," "warehouse Receipts" "Duty on Cana
dian Lumber" finland Water Communication"
crates of Freight on Railroads." Transportation
of Grain,n "Immigration,' 'Local Charges on Ship.
ping" ocean Postal Service from New Orleans,n
american Shipping Interests" "shlp-building In
the Mississippi Valley" Gamblers In Trade" "The
Cotton Tax, "Frce Trade in Money" 'Reduction OF
Import Dutes," "Repeal OF Tariff on Rail-
road Iron," contraction Of the Cur
rency" "Harbor improvements and Canal Con-
struction," Photographic Reform" international
Coinage and Decimal Measurement" 'National
Bankrupt law'' and estate and Municipal taxa
tlon." At noon Mr. william E. Dodge, President
OF the New York Chamber, welcomed the delegates
In a brief speech. He said:-
on behalf Of the Chamber OF Commerce OF the
city OF New York to our city and to assure
which you are engaged, and to assure you that
during your stay among us II will afford us great
pleasure to 40 al ID our power r TO promote ,n your
not welcome you to more commodiOus chamber,
but next year we expect to have one ample for
your reception when you again come among us.
At time when the public mind Is greatly excited and
agtated In view OF the Presidential contest you have
been called together, but nevertheless our citizens
will watch with interest your proceedings. Com
ing to us from all the various centres Of influence
and trade throughout the country, you will be able
subjects Of vast Importance to the great interests
OF our nation Wherever we turn now, unless 1t be
the Of wealth. prs
perity coming to us so Immediately after our great
national struggle is not only looked upon with
wonder and astonishment by other nations, but 1t
Is likewise wonder with ourselves. Wherever we
turn In all our great cities and villages along the
amount Of wealth in q rapid increase We have
expended in this country nearly one thousand mil
lions OF dollars IN railways In the last ten years;
sections OF the West that before laid in
the Atlantic and the Pacific. 1t is very dificult
for us to realize the influence OF these lines Of
munication, and then, by the fact that without
country, we have been able to expend directly
nearly thousand millions OF dollars, We have,
at the same time created not an artificial but
real wealth in the country vastly exceeding the
cost OF the railways. Another great underlying
power WHICH @ has given s, US TINS great W increase Of
metals; and although we well know that to many
who have been engaged In their pr0duction-the
try-there might not have been any profit yet the
infusion into the volume and circulation underly-
ing tue commerce. OF the country OF the national pro-
duct0n of the fifty or sixty millions OF dOllars-a
larger amount, suppose than before the discovery
OF gold could be found In the banks OF the natonis
giving us such wealth and value that we are as
tonished and many are looking at 1t as II we were
lifted in bubble that Is very soon to burst and
leave us all In ruin they forget the fact that this
underlying material product OF precious metals is
absolutely elevating and increasing and giving
values that never could have existed before, and is
o reason Tor great advance in prices all over the
world All this, the speaker claimed, was giving an
impetus to trade and commerce, and the Board
would be called upon again to consider what could
be done TO increase the facilities for transporting
the products of the West TO the seaboard. This,
he said was q very important subject as this year
the farmer had TO give two and half bushels to
buy what last year he secured for one bushe IL
would be better to devise some means OF decreas-
ing freight rates in the interest Of the producer In
the great West.
The Chairman Of the National Board OF Trade,
Mr.. Frederick Fraley, responded In brief speech,
In which he expressed the pleasure OF himself and
associates Ut the warm reception extended to the