Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-10-23
LATEST NEWS.
BY TELEGRAPH.
The NATIONAL board of Trade CoH
~ q r'7aEE yenfi0n. r,ttsi.-s

49,
The NationaI board of Trade Con :
- ..f5,'ce/g veati0n. ,it.i.-t;
ITS FURTHER PRooEEDINGs-INT T.
ING DEBATES ooNcERNISG Snip BUILD
iSG. 49, g. :..
!. 5 80. ]. stSt.ti. CHICAGO, Oct, %. q
The National Board of Trade re-
sumed its session this morning. Presi-
dent Frailey announced the committee
ON reform of currency, National Bank
ing, and National Banking Law, as fol
lows :-Wooley, Cincinnati; Nurse,
Boston Stranahan, New York !:
Wright, Chicago; Bonner, st Louis /;
Prindle, Louisville Burwell, New Or
leans Grosyenor, Portland; Smith,
Milwaukee; and Bromberg, Mobile.
President Frailey was added to the COM
nittee. The Secretary read the report
of the Executive Council on the Nation
al Bankrupt Law, containing the follow
ing;
Abolition of fees, and the establish
ment of salaries for officers charging
the powers of assignees, and authorizing
creditors to chose a committee of their
own number to settle accounts, and
make distributions; that the federal
government shall fix the amount and
kind of property, exempt from assign
ment, not subject to change by State.
The Board then proceeded to discuss the
following resolutions, offered by the ex-
ecutive council:
Resolved, That just regard for the
increase of American shipping interests
should cause Congress to encourage the
American ship builders and ship owners
by an allowance Of bounties for building
ships, whether the material used in con-
struction are of foreign or American
productions, so that the American ship
builders may be placed as competitors in
other countries. .."... ........
Resolved, That the board renew its
recommendation to Congress that all
articles of foreign products, needed for
subsistence and general use on board of
vessels in the foreign trade, be allowed
to be withdrawn, without the payment
of duty, from the bonded warehouse.
Resolved, That justice to the ship
owning interest, and best welfare of TIE
national commerce, alike demand that
the right be conceded by law to Ameri-
can citizens, to purchase tonnage where
ever built or owned, and to place the
same under the protection Of their own
flag. .-.... -. ..........-. e.
Mr.. Howley, of Detroit, opposed any
discrimination by the government in
favor of an industrial interest as unwise,
Mr.. Stone. Of Wilmington, Del, said
the shipbuilders there did not desire any
government aid their expense for build
ing was not more than the cost on the
Clyde, and the cost Of building Oh the
Clyde was daily increasing by the adj
vances in the cost of labor, coal and IRON
Wilmington shipbuilders asked no gov
eminent aid, ....
MIR. WethereIl, Of Philadelphia, agreed
that the American shipbuilders needed
and asked no protection from the gov
ernlnent Steamships are now built in
American waters at a less cost than on
the Clyde ......... 49,
Mr.. smith, of Milwaukee, opposed the
first resolution. .....
Mr. Cougar of Massachusetts opposed
any class or special government legisla-
ton He said Let protection rely on
individual interests"
MIR. Stranhan of New York said,
Most foreign carrying was done in
foreign waters, because wages were
cheaper, and he hoped some aid would
he extended to Americans engaged III
foreign commerce.
The debate was continued by Burwell
of New Orleans, Davis of Cincinnati,
Dorr Of Chicago, Hersey of Portland,
Taylor Of Cincinnati, Nagro of Boston,
WooIey Of Cincinnati, Dorr of Buffalo,
Grosvener of Ohio, and Stone Whining
ton. .-.. ....-. ..-.... ......