The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-07

CHAMBER OF COMMERCE..
The Passage or tho New Coinage Act
Its Internationa Benents-Thc Ques-
tion OF the Sound Observation-Disclosures
ON the North and East Rivers-How 1t
Inter1eres with City Tramc-Thc Bulk
heads and Pier Lines Of ls57-Intorest-
ing Resolutions.
regular monthly meeting Of the Chamber Of
Commerce was held yesterday afternoon. at half.
past two O'Clock. The President William Z. Dodge,
occupied the chair.
THE NEW COINAGE ACT. E0 -4g So
After the reading Of the minutes OF the previous
meeting lengthy communication from Mr.. Samuel
b. Ruggies, Chairman of the Committee of the
Chamber on Coinage and Currency, In respect to
the coinage act recently passed by Congress, was
presented and read for the Information
OF the Chamber. The bill is entitled,
Gan act revising and amending the laws relative
to the minis, assay officers and coinage Of the
United States.'e 1t proposed to reduce the weight
OF the existing tsilver dollar from 4l2h grains to
1874 grains. The Chamber of Commerce recon-
mended that the weight Of the silver dollar should
be made exactly equivalent TO that OF the vefranc
silver coin Of Europe. The House passed the bill
first introduced and sent 1t TO the Senate. where
IL was delayed to consider the amendment sug-
gested by the Chamber. On the Goth OF October,
1872 the National Board OF Trade, assembled In the
city New York, by unanimous resolution recon-
mended the suggestions OF the Chamber to the
Chairman Of the United States Finance Committee.
On December Is, 1872 that committee reported
to the Senate the amendment thus recommended
by the Chamber, with an important modification
proposing to discontinue the coinage Of the silver
dollar as then existing as portion of the silver
currency OF the United States, and to information
aze the silver half dollar in the manner proposed,
by fixing its weight at twelve and half grammes,
so that two hall dollafs would be precisely equiva-
lent to the nve-franc silver coin of Europe The COM
mittee made still further amendment, which pro-
vided for the coinage, solely for commercial pur-
poses, and not for currency Of heavy silver trade
dollar TO weigh 420 grains, exceeding in value by
twenty-seven one hundredths OF one cent the
Mexican dollar. The bill, thus amended duly
passed the Senate, and several copies of its pur-
port were sent to each OF the members OF both
houses oil Congress. The wide diffusion and pOpu-
larizatlOn OF this international scheme initiated
by the Chamber of Commerce will, 1t IS expected,
exert an efficient and beneficial influence IN has
tening the necessary reform in most. IL not ALL the
other silver colnages OF the world.
Mr.. GEORGE W. BLUNT, chairman Of the committee
appointed to investigate the advantages and dis
advantages OF navigation on the North and East
rivers and the ACCESSIBILITY of preventing the run
ming OF the Sound steamers to a certain extent,
presented report. His statement called forth a
warm discussion, in which Messrs. George W. Dow,
Ambrose Snow, Frederick A. Conking, George W.
Lane and Paul N. Spoiford took parts.
MIR. BLUNT ON THE SOUND STEAMERS.
The main arguments in favor of the proposition
appeared to be, according to the report
The danger life and property arisising from the
passage large steamboats, through the reach of
the East Rye The delay and % upon
sH city nd sn ses
's If ~ S e. sna Of
which should pc assigned to large steamships and other
s; Ss sSsnss
TR1s Changes wcSd facilitate and BRING
n III Of a Se Of the
Mo sSs @ OF rad a 4Re
ss 1saio s Tor
T. Some the Sound steamers have located their land
inss the East River with advantage to all and detr
ment to none
possible objections which could be raised against
his statement as to regulation OF berths by the
Sa Ine Of W c8
tranlc. The following resolution, which he finally
offered, was, with the exception Of one dissenting
voice, adopted
Resolved, That in the opinion of the Chamber of Com
merce OF the State of New York the regular lines Of
should have landing places IL the East River ABOVE Gor
ear's Hook and the Chamber WIN favor the
legislation this the regulations of the
port
Mr. Paul M. spoford, OF the minority committee,
then furnished series OF objections to the above,
which amounted to the following
That preventing the Sound steamers from passing
low ho9f the e and delay
with the freedom Of commerce. that It not
aSf
on sd q for s
BY having the steamers disch arse their cargo on
VII With Ss
aS
DANGEROUS The transportation OF GARAGES in large
barges and towboas The change, he finally granted,
s he s
the whole country and an % Of On the
in attempting. ~
ment considerable discussion ensued, but the re-
port OF the majority committee was unanimously
The Chamber passed resolution Of regret for
the death OF one OF Its members, Mr.. Hioks0n w.
Field.
COMPTROLLER GREEN.
The following resolutions for the retention in
office OF Comptroller Green were read seconded
and referred TO the Executive Committee by the
for fS nna
s nnS as
n aaS sGnni
Resolved, That In making the foregoing rceommenda-
ss A. RSs
Ha s be
THE BvLk NE Is, AND PIER LINES s.- ,.,
In relation TO the Dill OF April IL, 1887, which
recommended that no structures be permitted
beyond certain limits on the North and East
Rivers, the following resolution was submitted
to and adopted by the Chamber
Resolved, That a committee be appointed by the
Chamber TO frame bill restoring the exterior bukhead
and Der lines of 1884, and taking from and all
ties the to alter and encroach upon the said lines
purpose whatever; and that the representatives
from this city and vicinity In the Legislature be re-
questcd by the Chamber TO their influence and
work earnestly for the passage Of the This resolu
ton is not intended to apply to the exterior lines of
Brooklyn.
The Chamber then adjourned.
THE REV. DR. HUSTON.