The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-10-23
The National Board of Trade.

CHICAGO, oct ~.
The National Board of Trade resumed
its session this morning. President Fralev
announced as committee on the reform of
the currency, national banking and ma
tional banking law, as follows: Wooley of
! Cincinnati, Nurse, Of Boston, Stranahan of
New York, Wright of Chicago, Bonner of
ST. Louis, Prindle of Louisville, Burwell
of New Orleans, GrOsvenor of Portland.
Smith of Milwaukee and Bromberg of
Mobile President Fralcy was added to
the committee. The secretary read the re
port of the executive council on the ma
tional bankrupt law, containing the follow
ing:
Abolition of fees and the establishment Of
salaries for officers, charging powers of
assignees and authorizing creditors to
choose committee of their own number
to settle accounts and make distributions,
and that the federal government fix the
amount and kind of property exempt from
assignment not subject to change by the
state. The Board proceeded to discuss the
following resolutions offered by the Execu-
tive Council:
Resolved, That just regard for the in
crease of the American shipping interest
should induce Congress TO encourage
American shpbuiders and ship owners by
an allowance of bountcs for building
ships, whether the material used in con
struction be of foreign or American pro-
duction, so that American shipbuilders
may be placed as nearly as possible upon
the same footing as competitors in other
countries.
Resolved, That the board renew its
Recommendation to Congress that all
articles of foreign products needed for sub
sistence and general use on board of YES
sells in foreign trade be allowedt to be with
drawn without payment of duty from
bonded warehouses.
Resolved, That justice to the ship OWN
ing interest and best welfare of national
commerce alike demand that that right be
purchase tonnage where ever built or
owned and to place them under the pro-
lection of their own flag,
Mr.. Howlcy of Detroit, opposed any
discrimination by government in favor of
any industrial interest as tlnWisc.
Mr. Stone of Wilmington, Del, said
ship builders there did not desire any gov
eminent aid Their cost of building was
not more than the cost on the Clyde, and
the cost Of building on the Clyde was daily
increasing by advances in cost of labor,
coal and iron.
Wilmington shp-builders asked no GOV
eminent aid. Mr. Wetherell of Phila-
dclpha agreed that American ship-builders
needed and asked not protection from gov
eminent steamship s, one now built in
American waters at q less cost than on the
Clyde.
Mr.. Smith of Milwaukee opposed the
the first resolution.
Mr.. Conger of Massachusetts opposed
any class or special legislation. He said:
Let protection rely on individual interest.
Mr. Stranahan of New York said: Most
foreign carrying was done in foreign bot
toms because wages were cheaper, and he
hoped some aid would be extended to
Americans engaged in foreign commerce.
The debate was continued by Burwell of
New Orleans, Davi, of Cincinnati, Dorr OF
Chicago, IIersey of Portland, Taylor Of
Cincinnati, Nagro of Boston, Wooley of
Cincinnati, Dorr of Buffalo, Grosyenor of
Ohio and Stone Of Wilmington.