The New York herald., 1873-10-24
NATIONAL BOARD OF TRADE.
Report OF the Financial Com Re-
iating 10 the Question OF Railroad
Transportation Discussed.

iating TO the Question OF Railroad
Transportation Discussed.
CHICAGO. Oct. 2s, 1878.
The National Board OF Trade resumed It's session
this morning The Richmond delegation was ad-
mitted to take part in the debate on
the floor. The Quincy delegate was allowed
seat but not to speak or vote. The
subject OF bureau OF international i'm
provement was referred to the Transportation
Committee without debate. The report OF the
Committee on transportation was taken up and
the resolutions reported Yesterday were discussed.
Mr.. Grosvenor, OF ST. Louis, made lengthy speech
in favor OF the report. Mr.. Baker, OF St. Louis op-
posed the report, SO far as it related to railways
which, ne said, favored too much the agrarlan
movement now being urged, and he saw no reason
why railroads should not have the same protection
as individuals. He moved to amend the resolution
pending BY advising
THE BUILDING OF A DoUBLE-TRAcK RAILWAY
from New York to Philadelphia, uniting with one
line at some point near Philadelphia, and extend
ing west to ST. Louis with branch to Chicago,
and that Congress be asked to grant charter to
such capitalists will build the road restricting
the profits OF the road TO ten per cent net, and
limiting State taxation on such road to the bonds
or stock at the rate other property in the State Is
taxed and that no State be permitted to interfere
with the tolls or management
The amendment was ruled ont OF order.
Mr.. TAYLOR, OF Cincinnati, was opposed to asking
the Federal government Tor what the State govern
ments could give-viz., the charter necessary.
Railway tolls were now proportionately lower than
anything else, and the cry OF the farmers was
senseless. He opposed any general system OF i'm
provements by the general government.
Mr.. BuGsBY, OF Philadelphia, opposed any govern
ment railways and further discussion was post
poned until the night session.
An invitation was extended to the Farmers Con-
venton to attend the sessions OF the Board, after
which an adjournment was had for the purpose OF
Visiting the Chicago Board OF Trade.
Evening Session.
The Finance Committee made report relating
to the resumption Of specie payments on the iol-
Fws-For the redemption of Treasury notes of the
Ensa ss m se IS % s 9ol m e . % the %
mand Of the holders thereof on and alter the first Mon
Secoad-ihat notes so redeemed may be reissued for
a in hs eee hsa
by existing laws and notes so redeemed be exchanged
qassed Sy any desirous of making such exehange
shah Continue to be for Of ali
debts, public and private as the same are now.
- REGULATING THE CURRENCY,
Or % sa M sue % Is
in It's value called for by the business the county
eSehanse such treasury notes ssssTsd eerssssss
sap any M Rnses se
q per cent per ssnqm nm the eItcates 50 issued
shall al be maele TIE viii 9, ne hSdsTs
iion the interest then accrued on such GER
sea a ana
issued Their places the amount Of eercstss % SO
Tdesa Ire ;ss Be BY q
s f' s be a %sa % S % held or Sy in
Of their and deposits he 9euor sae
was made the special order Tor Tomorrow afternoon
THE TRANSPORTATION QUESTION
was then taken up. Mr. Mcclellan OF Montreal
said the Canadian imports from the United States
were about the same as the exports, and one-half
the Dominion trade came from the West. When
the Welland Canal Improvement was COM
peted and the st. Lawrence improved from
ton to compete for the carrying trade Under the
existing law Dominion merchants could not CON-
pete LOT the New England trade, II they could do
this they would double the facilities and thus help
Western producers.
Mr.. WHITE, OF Montreal. said Canada had i'm
were enlarging the welland Canal ami portions OF
the st. Lawrence, and II has capacity for vessels
the swest the best possible outlet to the ocean.
He enlarged on the
TRANSPORTATION FACILITIES OF THE DOMINION,
warning the United states that an iiberal course
on its part might provoke discrimination against
its people on the weand Canal. He concluded
with the hope that unity OF action and friendship
would ever exist between the two people,
Mr. BONNER, OF st. Louis, spoke in iavor OF
double track railway between the East and West,
and OF tue necessity OF increased facilities OF trans
portation. de thought the Mississippi route TO
Liverpool from the West the most economical, but
favored aid to all routes.
Mr.. Dow, OF Buffalo, favored both the improve
ments OF the Welland Canal and the Mississippi
River, and hoped Canada would allow the freedom
OF the canal TO Americans.
Mr.. Rowland, OF Canada, explained that the
canal was the private property OF Canada, and in
going from the lakes TO Montreal American vessels
paid less than Canadian.
Mr.. DoRB, OF Chicago, favored the Improvement
OF the Illinois River and the making OF line from
the Mississippi TO the st. Lawrence rivers.
Mr.. HOLTOS, OF Milwaukee, opposed any govern
ment aid TO railways, ana offered a substitute
urging Congress to Improve The natural water
routes