The New York herald., 1872-10-18
NATIONAL BOARD OF TRADE.
THIRD DAYS PROCEEDINGS.
The Erie Canal az National Highway for Trans
portation Of Grain-The United States the
Greatest Grain Country in the World-A
Commission Proposed to Negotiate
Reciprocity Treaty with Canada
Gambling in Stocks and
"Corners' Denounced.

Corners Denounced
| The Board resumed Its deliberations at halfpast
ten O'Clock yesterday morning, President Fraley in
the chair. Tie proceedings were opened by prayer
| by Rev. DIR. Leavitt, OF New York.
The desks OF the members were covered this
| morning by pamphlets on ''The Causes which Drive
Commerce from Our Doors" &C, signed by George
o. Jones, formerly OF Albany, but now OF New York
| city.
MARKET REPORTS.
| Mr.. Young, OF Baltimore from the Committee on
Market Reports, reported that 1t could not recon-
mend the Board to change the present system, but
In favor OF committee or three to confer with the
various commercial exchanges with view of Sc
curing as full market reports possible. The re-
port was adopted, and Messrs Rowland, Young
and Morrison were named as such committee.
MEMORIALS
| relative to steam on canals and Georgian Bay
canal between Lakes Huron and Erie were received
and referred to the appropriate committee.
CHEAP RAILWAY FREIGHTs.
resolution OF Mr. Ferguson, OF Troy, instruct
ing the Executive Committee to take some action
looking to the devisng OF some means to secure
cheap railway transportation, was voted down,
the Board refusing to refer his resolution to the
Executive Committee.
GREATER FACILITIES FOR TRANSPORTATION.
| Mr. DORR, OF Buira0, called up
! Subject No. 6-inland water cOmmunication-as
follows:-
kfsoys a"S Tn II the Gonn
Board oiTrade looking appropriation BY the United
Of srss y aS sho {" ahs By at sae ses
state ready TO abandon entirely to the general govern
Jurisdiction over and control oisnch work together with
| private ownership.
Mr.. Dorr argued that water routes were always
more economical than railroads, and in his opinion
the West needed greater facilities, either by the
Improvement of the Erie Canal or the canal system
| of the st. Lawrence.
| Mr.. HAzARD OF Buffalo, followed In support of the
resolution, reviewing the early history OF the Erie
Canal He claimed that 1t was clearly the duty OF
the national government to enlarge and increase
the capacity OF all the canals that afford an outlet
for the products OF various States while 1t is the
duty Of the States to cheaper the water transpor
taton OF rivers and canals that are OF local CHAR
| acter only. As the Erie Canal Is waterway or
outlet for the entire West he felt thatt clearly
| the province and duty OF the general government
! in connection with the State OF New York to en-
large the carrying. capacity Of the canal He op.
government, but supported the proposition for the
general government to set apart few millions for
| the enlargement or the canal The State would In
that case no doubt lay a small tax as tonnage dues
! which in time would eXtinguish the debt upon the
canal, while we should virtually have cheap water
| transportation. A work OF this character should
be considered NATIONAL and Clinton and his asso-
ciates with prophetic vision saw that it to be
the great water-course for transportation with
the great West. Unfortunately, the canal has not
proved sufficient. While i has capacity OF water
passage OF 100000 tons. With the addition OF
steam the capacity could be increased to % 900 900
1860 was l,22S 42S 600 bushels in 1870 it was over
| 2,20O, 100000 bushels Our exports of wheat and
corn to the United Kingdom were as ioows:-
Years. Bush. Wheat. Bush. Corn
1868 ........................ 725.72O 3,1s5,03
1908 S04,ocl l4,olo
1870 observation-disclosures. 2s,I67,46s s931,6ll
The United Kingdom OF Great Britain and Ireland
imported last year from all countries equal TO
15OOOO,OOO bushels of cereals, OF which the United
States furnished Az 1885, 1856 bushels Russia 49, 900
| bushels, ana other countries the balance. The
total exports OF Russia IN 1870 were 49,, ,917, 900
States for that year about 40 OO0, 900 bushels
| Thus 1t will be seen that IN competing for the
| 1ul antagonist, possessing country similar
to our own in its topography ana agricultural re-
sources: active in projecting works or internal i'm
| pr0vement for the purpose OF cheapening the
transportation OF its products TO the seaboard and
determined to hold her supremacy in the markets
Of the world for the sale OF her agricultural prod
ucts. The United States, according to its pOpula-
ton, is the largest grain producing country in the
to each inhabitant; the product Of Russia being
at the rate OF traction over twenty bushels
to each inhabitant; Germany, France, Austria,
Great Britain and Ireland being fraction over
eighteen bushels to each person. Can there be
better argument for cheap transportation
largest food producing country IN the world
must have cheap transportation for surplus
| food, or be supplanted by other nations in the
markets which now control the price and value OF
our prOducts2 With an enlarged canal adapted to
boats Of150 tons, under lOw-tol policy and cheaper
freights, the tonnage would soon be doubled and
the saving in expense OF transportation would ex-
ceed the cost OF the enlargement the first year OF
its completion. To show the national character
OF the traffic OF the Erie Canal Il may be OF interest
to state the proportion for q few decades Of the
New York state or local tonnage, compared with
| Western States " n =
Locations. WeStey1l-TOns
lS40................. 3l9,l6I l2y,6SO
| Io0O. ............. 03O,30S S4l,0Ol
$780,. ..................3 379.0S6 675
| 1869. .................. 229, 121 2,02S 66S
Thus it will be that the local tonnage In 1910
was more than twice as large as the Western in
| 1850 the West exceeded IL by more than fifty per
cent and ten years later was five times larger and
In 1859 the Western was ninety per cent OF the total
tonnage.
| On facts like these the national character OF the
Erie Canal has been fully established. II is the me-
single state, but for the accumulated products and
manufactures OF many states and Territories In
their commerce with each other and with foreign
nations The enlargement OF this important water
way concerns the East and the West. The cities OF
Philadelphia, Boston, Portland, New York, and
every town and hamlet In New England, are alike
interested in obtaining the staf OF life at cheap
rates. Will the great cities OF the East object to
improvement which Is to give them cheap food
Mr. Hazard concluded by moving as q substitute
for the resolution the following submitted N 1870
by the Buffalo Board Of Trade:-
Resolved, That the maintaining and improvement of
inland transportation by water natural and artificial as
cost of transportation Of the agricultural, mining and
manufacturing products Of the country, are incumbent