Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-25
COMMERCIAL.
The National Board Of Trade.
Competition the Only Remedy Against
Railroad Monopoly.


aA85 Bm sfFESa gEENkT
Improvement of water Routes Urged.
CHICAGO, Oct. 24-The consideration
of the transportation question was resumed
and speeches limited to five minutes. After
an extensive debate on both sides by vari
GUS parties, John A. Cans, of Cincinnati,
said the only one conclusion reached in the
debate, viz: That The safety of the COM
mercial community was competition, and the
improvement of water routes was necessary.
He moved to refer the whole subject back
to the Committee to collate facts on points
involved. s&U ~
The whole subject was referred back to
to the special Committee enlarged, to re-
port Saturday morning. j. A. Gaus, OF
Cincinnati, Holten, of Milwaukee, and
Balshaw, Of Kansas City, were added to the
Committee. E GaI @ASa HUN
Mr.. Boynton, of New York, moved to
reconsider the vote by which the resolution
to allow American citizens to buy foreign
built ships and sail under the American flag
had been defeated. Carried. The resolu-
ton was then adopted, with an amendment
allowing such purchase and use on the
payment OF q reasonable duty, by vote OF
80 to IS. - g47Jf.r or lr.-If, -s
Il Free Trade with Canada.
The report of the Committee of Confer
ence with the Dominion delegates on. lake
navigation and reciprocity was adopted, re-
questing the Secretary Of the Treasury to
allow Canadian vessels to proceed direct to
the ports on Lake Michigan, and the Exec
utive councils calling the Dominion Gov
ernment's attention TO canal distractions
and providing for the appointment of
commission to act in conjunction with the
State Department in the negotiation of
treaty with Great Britain for such modih-
cations of trade regulations as may be mu-
tually advantageous and tend to facilitate
the freest exchange of Necessary commodi-
ties and secure foi American vessels the
use of Canadian canals in connection with
the common waters on the same conditions
as Canadian vessels. -
A Subject for Profitable Discussion.
The subject of the Limitation of State
debts was referred TO the Executive Council.
The following was adopted: -.,s,.-,----g
Resolved, That Con ress be memoralized
to SO revise the tariff that the duties on
commissions, packages and cost OF getting
goods on shipboard be abolished. NJ
o0 whisky.
Wright, of Chicago, offered a resolution
for the freer expectation of distilled spirits
and giving exporters in the ports OF entry
of the West an equal footing with others.
Amended 80 as to include malt liquors and
adopted.
Specie Resumption.
Report of the Committee on Finance re-
lating to the resumption of specie payments
and the currency was taken up and discus.
sion opened by President Frailey in tenn
perate practical advocacy of the report, urg-
ing the necessity for speedy resumption to
give the specie value to currency necessary
for the trade and commerce of the nation.
He thought the country ordinarily able to
maintain the present volume of currency
and not more than 10 per cent OF such vol
ume in coin was necessary as basis under
tn plan of resumption. His address was
lengthy and the argument specific aud
elaborate, and listened to with marked
and studied attention.
Mr.. .Nszro of Boston, supported in general
the report, but moved to amend by deelar-
ing the Treasury notes continue to be legal
tender until the first Monday of June, 1877.
Kerser, of Cincinnati, moved to amend
Dy 3uOpJiuH cpcClG tCcuAAPsAOA uhNA 49,
debt was paid or funded, and the balance OF
trade in our favor, and then resume at every
sub treasury.
Free-Bankfng. e-
Busby, OF Philadelphia, approved the re-
port, snd preferred non action at present,
and holding off to await developments He
moved a substitute, making bonds and
greenbacks exchsngable, and fayoring free
banking law,
Tailor, Of Cincinnati, offered substi-
| tute favoring a contraction OF thu green
back currency at the rate of two millions
per month, commencing July 1, 1874; the
prohibition of the payment of interest Oh
current deposits by National Banks, IN
polling the National Banks to maintain coir
equal TO 80 per cent of their cireulationi
compelling the banks to increase their capt
1 tai or reduce their circulation until it shsl
not exceed fifty per cent per capital; ant
recommending free banking Institutions.
Duties.
Smith, of Milwaukee, offered az amend
ment that after the first of July next 10 pc
cent. of the duties on imports be pad II
Treasury notes with 10 per cent. increas
over each month till such payment is equs
so per cent, provided such receipts do no
embsrass the payment of coin interest.
Pending discussion the Board adjourne'
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