The New York herald., 1873-10-23
NATIONAL BOARD OF TRADE.
No Congressional Aid Needed by the American
Ehipbuilders-The Question OF Transporta-
ton Discussed-A Series of Resolu-
tions Adopted-Plea for
National Bankrupt Law.

CHICAGO, H., Oct. %, 1873.
The National Board of Trade resumed It's session
this morning. President Fraley announced the
Committee on Reform Of the Currency, National
Banking and National Banking Laws as l0llows:-
Messrs. W0oley, Of Cincinnati; Nurse, OF Boston;
Stranahan, OF New York; Wright, OF Chicago;
Bonner, of ct. Louis Prndle, OF Louisville;
Burwell, OF New Orleans; Grosvenor, OF Portland;
Smith, OF Milwaukee, and Bromberg, of Mobile.
President Fraley was added to the committee.
The Secretary read the report Of the Executive
Council on the National Bankrupt law. containing
the following suggestions The abolition OF fees
and the establishment OF salaries for officers;
largng the powers OF assignees; authorizing credi-
tors to choose committee Of their own number
to settle the accounts and make distributions;
that the federal government fix the amount and
kind of property exempt from assignment, not sub
ject to change by States.
The Board proceeded to discuss the following
resolution regarding
AMERICAN SHIPPING INTERESTS
offered by the Executive Council:-
Resolved, That Just regard for the increase Of
allowance bountes Tor building ships, whether the
used in the be e 9sgn or
placed as nearly as possible upon the same footing as
Resolved, That the Board renew the recommendation
to @ nd M aenes o. oS %
foreign trade % 10 allowed 70 BE- winarswn without The
Resolved That justice to the sipcwn1g Interests and
he bess Msars re- Of the national m ALIKE
to abnnage b wherever ent or owned and to
Mr.. HAwLEY, of Detroit, opposed any discrim-
ination by the government IN favor OF any indus
trial interest as unwise and unconstitutional.
Mr.. STONE, OF Wilmington. said shpbuilders there
did net desire any government aid. Their cost OF
building was not more than ten per cent mo-. than
tne cost on the Clyde, and the cost OF building on
the Clyde was daily increasing by the advance Ill
the cost Of labor, coal and iron. Whining ship
builders asked no government aid
Mr.. WETHERILI. OF Philadelphia, agreed that
American shipbuilders needed ana asked no pro-
built IN American waters at q less cost than on the
Clyde.
Mr.. SMITH, OF Milwaukee, opposed the first reso-
Mr.. CoNGER, OF Massachusetts, opposed any class
or special government legislation. He said let pro-
lection rely on individual enterprise
Mr.. srRANAHAN, OF New York, said most OF the
foreign carrying was done in foreign bottoms be-
cause wages were cheaper, and he hoped some AID
would De extended to Americans engage ed in foreign
The debate was continued by Messrs Burwen, of
New Orleans; Davis, Of Clncinnati; Dore, OF
Chicago; Hersey. OF Portland; Taylor, OF Cincin-
natl: Nazro, OF Boston; Wooley, OF cincinnati;
Dorr, Of Buffalo; Grosvenor and Stone, oil Whining
ton.
The resolution was rejecteo-yeas 3, nays 5s.
The second resolution was then taken up, and
amendments to include all vessels engaged In in
land trafc and apply to articles used in the con-
structi0n of vessels.
lay the whole subject Oh the table was carried;
but on the motion Of Mr.. Covington. OF Cincinnati,
the vote was reconsidered, and the amendments
voted on and rejected, as was also the resolution,
by % yeas to SO nays.
The third resolution was then taken up.
Mr.. NAzENs, oil Boston, moved TO amend by add
ing the words "upon the payment OF reasonable
duty on the cost"
The amendment was adopted, and the resolu-
tion, as amended, was then rejected by 40 yeas to
% nays, there not being two-thrds In the atfirma
1--WE the action a. on ne secona ana ,G third resou
the Board, owing to the confusion and uncertainty
occasioned by the wrangling over the amend
ments, and several members voted under protest.
Mr.. ABLE, OF st. Louis gave notice that ne
would tomorrow move the reconsideration OF the
second and third OF the above resolutions.
The report Of President Fraiiey, iavoring the
governments establishing
A DEPARTMENT OF COMMERCE.,
was submitted, with the proposed act OF Congress
establishing and defining powers, &c. giving this
executive department the supervision and care OF
agricultural commercial, manufacturing and
mining interests, under government regulation
The report was accepted, and the President ex-
planned the details Of It's provisions.
The report was then referred back, approved, to
the Executive Council, with instructions to urge
on Congress the establishment OF the department.
TRANSPORTATION FACILITIES,
submitted partial report embracing general
-Recornizng for cheapcnins transporta
Seeend-Declarins that Congress should charter any
road between the interior and the seaboard WHICH pr
capital undertake build but that such road
should be subject the State laws TO taxation
or control as other roads in the same state.
Third-That Congress should prevent restrictions
by any State upon Interstate commerce. but that the
the people of each state from of
roads within the State refusal to perform their full
duty as common carriers may most effectively be So
cured by state courts and Legislatures.
Fomth-Ihat the only permanent guarantee against
unreasonable rates 10 he found In the Improvement OF
the natural free highways by water channel TO the
and therefore rejoicing ut the Improvement OF the St
Lawrence route by Canada and the efforts to improve
the canals by the State OF New York. recommending
earnest investigation OF other routes trusting that
the Improvement OF the Mississippi and ohio rivers may
be pressed without delay.
pointed investigate all plans internal
ments, and that appropriations should be made only on
its recommendations.
The subject OF the National Bankrupt law was
next taken up and the recommendations OF the
Executive Council approved, and Congress asked
to appoint a commission, consisting oil the Attor-
ney General and seven merchants, bankers and
manuacturers, to revise the law.
ihnp aliauEued