Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-10-23
The Ship-BaIlding Interests and the
Carrying Trade-lmpOrtant Debate.

| CHICAGO, October 2l.-The nationa
board of trade resumed its session thii
morning-forty-fve delegates answered
roll-call. President Fraley announced
| heeommittee on reform of the national
currency, national banking and nation
al bauking-law: Wooley, Cincinnati;
Nurse, Boston; Stranahan, New York
Wright, Chicago; Bonner, st. Louis;
Pindle, Louisville; Burwell, New Or.
leans; Grosvenor, Portland; Smith,
Milwaukee; Bromberg, Mobile. Presi-
dent Fraley was added to the commit
tee. The secretary read the report Of
the executive council on the national
bankrupt-law, containing the fol
lowing suggestions: Abolition fees and
establishing salaries for officers, enlaTg-
ing powers of assignee, authorizing
creditors to chose q committee of their
own number to settle accounts and make
distributions, that the federal govern
ment fix the amount and kind of pro-
perty exempt from assignment and not
subject toa change by States. The board
proceeded to discuss the following resO-
Iutions regarding American shipping in
terests offered by the executive council
''ResoLUed, That just regard for the
increase of American shipping Interests
should cause congress 10 encourage
American ship-builders and ship-owners
by an allowance of bOunties for building
ships, whether materials used in their
construction be of foreign or American
production, SO that American ship-build-
ers may be placed as nearly as possible
upon the same footing as companies in
other countries.
"ResoEUed, That the board render
recommendation to congress that
all articles of foreign product
needed for subsistence and general
use on board of vessel engaged
in foreign trade be allowed TO be with
drawn without payment of duty from
the bonded warehouse, disclosed that
Justice to the ship-Owning interests and
the best welfare of the national COM
uerce alike demand that the right be
conceded by law to American citizens
to purchase tonnage wherever built or
owned, and to place it under the pro-
lection of their own flag"
Mr.. Hawley, Of Detroit, opposed any
discrimination by the government in
favor of any industrial interest as un-
wise and unconstitutional.
Mr Stone, OF Wilmington, said The
ship-builders there did not desire the
government aid; their cost of building
was not more than ten per cent. more
than the cost on building the Clyde, and
has daily increased by the advance OF
IaNor, coal and iron. Wilmington ship
builders asked no government AID.
Mr.. Wetherell, of Philadelphia,
agreed that American ship
builders needed and asked no
protection for iron steamships now
built in America at less cost than in
Clyde.
Mr.. Smith, of Milwaukee, opposed
Mr.. Conyer, of Massachusetts,, op-
posed any class Of special government
legislation. Let progress rely on indi-
vidual enterprise.
Mr.. Stracher, of New York, said most
of the foreign carrying was done in for
eign bottoms because of cheaper wages,
and hoped some aid would be favored
in America in foreign commerce.
The debate continued between Messrs.
Burwell, of New Orleans, Davis, of Gin
ClnhdEls DOI6f Vi NAlCdkOg VI
Portland, Taylor, of Cincinnati, WazerO,
of Boston, Mosby, of Cincinnati, Dorr,
of Buffalo. GrosvenOr, who opposed
the first resolution, and Stone, of VII
mington, Dorr, of Buffalo, Taylor,
Of Cincinnati, who favored the third
resolution was rejected by yeas
three and nays fifty-eight. The second
resolution was then taken up, and
e., Ill
gagged in inland traffic, and apply TO ar
tieles used in the construction of vessels.
Pending the vote on the amendments, a
motion to lay the whole subject on the
table was carried, but on motion of Mr..
CoviRgton, of Cincinnati, the vote was
reconsidered, and the amendments
voted on and rejected, as was also the
resolution, by yeas twenty-five and
nays thirty-six. The third resolution
was then taken up, and Mr.. Hozerd, Of
Boston, moved an amendment by
adding the words "upOn payment of
reasonable duty on cost" The
amendment was adopted, and
the resolution, as amended, was
then rejected-yeas, 40; nays %, not
two-thirds in the affirmative. The
action on the second and third resolu-
tions can hardly be considered a fair ex-
preston of the board on the subject,
owing to the confusion and uncertainty
occasioned by the wraDgling ove- the
amendments, and several of the mem
bers voted under protest.
Mr.. Able, of st. Louis, gave notice
that he would tomorrow move the re-
consideration of the second and third of
the above resolutions.
The report of President Farley, favor
ing the government establishing a de-
partment of commerce, was submitted
with the proposed act ofcongress estab-
fishing and defining the powers, etc.,
giving the executive department super
vision and care of the agricultural, COM
mercial, manufacturing and mining in
terests under government regulation.
The report was accepted, and the presi-
dent explained the details of the provis-
ions. The report was referred back ap-
proved to the executive council with in
structions to urge on congress the estab-
lishment of the department.
Mr.. GroSvenor, of st. Louis, chair
man of the committee on transportation
facilities, submitted a partial report,
embracing general resolutions.
iFirst-RecogniZing measures for cheap
ening transportation as natural neces-
sity.
Seoond-Declaring that congress shall
charter any railroad between the interior
and the seaboard, and which private
capital may undertake to build, but that
such road should be subject to the same
State laws as to taxation or control as
other roads in the same State.
Third-Thst congress should prevent
unjust restrictions by any State upon
inter- State commerce, but that the pro-
lection Of the people of each State nom
the exactions of roads within the State,
or refusal to perform their full duty as
common carriers, may most effectualiy
be secured by the State courts and legis-
laiions.
Fourth-That the only permanent
guarantee against unreasonable rates is
to be found in the improvement of the
natural free highways by water-chan-
nels 10 the sea, and therefore rejoicing
at the improvement by the st. Lawrence
route by Canada, and the efforts to i'm
prove the canals by the State of New
York, and the earnest investigation OF
other water routes and trusting that the
improvement of the Mississippi and
Ohio rivers may be pressed without
delGy.
Fifth-That board of commissioners
should be appointed to investigate all
plans for internal Improvements, and
that appropriations should be made only
on RECOMMENDATION
The subject of the national bankrupt
law was next taken up, and recommen-
dations of the executive council were
appointed, and congress asked to ap-
point commission consisting of the
attorney general and seven merchants,
bankers and manufacturers, to revise
the law. Adjourned.