The Portland daily press., 1873-10-27

National Board of Trade,

CHICAGO, Oct. 25.-The national Board of
Trade re-assembled this morning.
The President announced that the Executive
Council bad reelected Charles Randolph Sec
rotary and Treasurer, and designated Baltimore
as the next place of meeting.
The subject of finance was then taken up.
Mr.. Morse of Boston, made an extended adj
dress in favor of the report of the committee,
and urged the necessity and ability of the
country for the resumption of specie payments
on day fixed. He moved an amendment to
the Sd section that treasury notes to be
legal tenders except for dues to the United
States, after the date of resumption of specie
pay ments, July 1st 1877
M Dore of Chicago read statistics to prove
the need of the present volume of currency
Mr.. Taylor of Cincinnati favored the COM
mittee report, with Nourse's amendment, and
thought the government should go out of the
banking business.
Mr.. Gano moved that without final action on
financial and transportation questions, that
when the Board adourns it be to meet in Bal
timore on the second Wednesday of January
next. Adopted.
The amended report of the transportation
committee was submitted and the following
propositions were made:
First That Congress may prevent unjust
State restrictions upon internal State commerce
but that protection to the people Of States be
secured by Legislatures AMI courts
Second, Rejoicing over the improvement of
the Welland and st. Lawrence canals by
Canada, and the New York canals, and favor
ing the Mississippi river Improvements.
Third, Referring the question Of double
track railway from east to west, and questions
germain to the Executive Council for future
consideration.
Mr. Holton of Milwaukee, offered a substi-
stute for the first proposition that States have
right to regulate railways within their bor-
ders.
MI Wetherell of Pennsylvania, favored u
Congressional regulation of railways,
Mr.. Able of st Louis, opposed Congression-
ell control OF railways or anything looking to
the GENERALIZATION of the power of the govern
ment, and favored Mr.. Holton's amendment
Mr.. Burwell of New Orleans, took the same
ground,
Messrs. Linzie and Wooley of Cincinnati,
Alden of Philadelphia, and Croker of Boston,
favored the amendment report.
Mr.. Wright of Chicago offered substitute
referring the subject of transportation to the
general government and legislatures to be gov
erned by the same general laws governing 9TH
er industries; that it should not be the policy
of the general government to assume the bust
ness of the people either in transportation by
rail or water, or in the construction of such
routes, and recommending the legislatures to
protect people against wrongs inflicted by COM
mon carriers.
Mr.. Hawley of Detroit favored the report,
and Mr.. Bomberg opposed it.
The debate having involved to some extent
tne question OF oIateS rlgntS, the report was so
amended as to ask Congress to exercise such
power as the constitution authorizes for the
regulation of interstate commerce.
The vote on the first proposition was yeas rs,
nays 16.
The defeated side wanted two-thirds vote.
The second and third propositions were unan-
imously adopted
Resolutions thanking the Chicago Board of
Trade, Chicago and her newspapers. were unan-
imously adopted.
Resolutions were adopted favoring reciprocal
trade relations with the Spanish-Amercan col
onies.
A resolution was adopted asking the banks
and clearing houses to adopt some plan for OBJ
waiting the necessities of large transfers of cur
rency between business centres.
Resolutions were adopted thanking the Off
GERS of the Board,
The Board then adjourned to meet in Balti
more on the second Tuesday of January next.
Not Ma nslaughter.
The jury in the case of Joshua Puffenbury,
engineer Of the freight train on the Chicago &
Alton railroad, which caused the disaster near
Lemont last August. and who has been indct-
ed for manslaughter, lreturned verdict this
morning of mot guilty."