The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1873-11-01
THE NATIONAL BOARD oF.rRADE.

the late session of the above body ut
Chicago. ... .... ...
The Globe tsrtly observes:
The National Board of Trade, hay
ing been In session at Chicago since
Tuesday morning, adjourned on Sat
.urday, 10 meet again on the second
Tuesday of January NJ baltimore,
This - an unprecedented step, ana
one which promises q great change III
the usefulness of the Board. Hitherto
Its yearly meetings have been pretty
much occupied Ia listening to the pre-
pared speeches of men who had axes
10 grind, and in drlllingthe new mem
M "a to the usages Of the Board, 80 that,
nhout the time that the thickest OF
cralnmed speeches have been cut away,
and the mOrass Of ineXpericnce on the
part of young members had been bridS-
ed, the session closed. The next year
the same operation Ind 70 be faced,
BECAUSE large share Of the members
| IA changed each year, and new men
manage to get into the Board with Il
fresh supply of dull axes. The adj
iournment until January will reassenl-
! 'ble the same members and committees
| 10 resume, after two months ofinquiry,
the discussion of the questions to
which their attention has now been
directed. Moreover, the meeting III
January Is to be held at Baltimore,
close to Washington, when Congress
will then be In session. 1t is fair to
nresume that its proceedings VIII re-
ceiyx much more than ordinary at
| teu.ion, and that the facts then brought
out vii! have all the weight to which
they may be entitled. ,
The particular question which the
Board found it impossible TO handle OF
the late session was the resumption OF
specje payment. A resolution prOpos-
ing resumption July !, 1877, was pro-
posed by u large and very able COM
mittee, of which the President OF the
Board was also the Chairman. II
appeared, however, that the commit
tee was by no means unanimous III It's
recommendation, and that very con-
siderable portion of the Convention
was inclined to assail the report.
Moreover it was felt 10y every one that
The occasion was onepeculiarly insult
able for the discussion of s,lrh n propo-
sition. Events may, occur at Almost
any time which will either bring re-
sumption at once, or put IL ,eyoliu inc
mower Of Government to bring IL ior
years. II was seen, by some members
at lcngt, that the steady tendency OF
public opinion aud business ADJUST
ments was already toward the specie
basis, and that the adoption OF any.
such report, affirming the opinion OF
business men that RESUMPTION couiu
not safely bereached beforels77, would
check that tendency, arrest the gradual
settlement of business to n more soma
basis, and perhaps probing for years an
uncertainty and disastrous fiuctuation
of values which may otherwise speedily
terminate. Accordingly it was deemed
best to postpone the discussion, AFTER
4 January we shall know whether the
Government can do anything. and be
better able to Judge what 1t Oh hi toao.
On the question OF transportation
the Board was also unable to take fnal
or satisfactory action. 1t is true the
resolutions reported by a committee,
of which Colonel Gr0svenor, of this
CITY, was chairman, did unequlVocaily
call for the completion without delay,
of improvements of the MISSISSIPPI
river and other great water ways, as
the only complete and permanent re-
straint against Unjust charges by rai!'
roads during half the year when inc
lake route is closed. The resolution
on this topic was'unanimously adopted.
but another, concerning the charter u
Il double-track freight railway, was
vigorously disputed and withdrawn;
while u third, affirming the duty OF
Congress to regulate Interstate traffic
hy railways, and of the States to pro-
tect the rights of the people IS to rail-
.ays within the State. was opposed aC
great length by some OF the ha'i-claSS
States rights ultraists, and upon final
vote lacked four of the required two
thirds majority.
referred for report at the meeting IN
January includes questions as 10 me
effoct of fast freight lines, OF watered
stocks, of the Credit MoblIler system
of building, Of the leasing or comhi-
nation of roads, and OF the duties on
iron, and in short, substantially deIeIs
! for more mature inquiry the whoie
subject Of railway management ana
control. Questions relating to the hest
methods of securing water highways
for commerce will In like manner come
up for further consideration.
It will be very properly inferred that
the National Board of Trade, at this
particular session, did not do very
much. 1t never does, Its chief duty,
ordinarily, has been let OIL prepared
speeches, and TO eat a good dinlier.
These functions were performed on
this OCCASION with due grace ana grav-
ity, and then postponed the investiga-
ton of the khOtty problems OF currci-
cy and transportation Cntll January.
| II Is creditable In tile Board thnt IL
perceived its inability to treat these
questions thoroughly without further
| inquiry. An ordinary gathering OF
Informed persons might have settled
both by series of didactic resolutions
In about fifteen minutes. Tue Board
Of Trade, composed Of men newly eho.
sen every year, would have done Itself
less credit had 1t attempted to act upon
all the phases OF questions so complex
and important without the months OF
examination which it has now conclu-
| dcd to take.
Two resolutions, both passed without
debate or dissent, urge reciprocity with
Canada ana with the Spanish west
Indies. Treaty stipulntions for free
exchange of products, We venture 10
suggest, will not materially heir the
case. What this country must soon
have is annexation. America, from
the Isthmus to the Pole, must soon
become the domain ofone great nation.
Our commercial relations draw us
closer every year to the. peoples to the
orthward and the southwark, and the
shadowy political line of division must
presently vanish altogether. In case
of war we should have to occupy the
territories about our own; In time OF
peace we may as well reap some OF the
advantages of commercial and indus-
trial alliance. .......