New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-25
TIE NATIONAL B0ABD or TRADE.
THE NATIONAL BOARD OF IRA DR.

THE NATIONAL BOARD OF IRA DR.
THIRD DAYS sEssrON-rR,NsPoRrATTos ISSUES Dis
| CU5sED-rHE TRADE IN SHIPS ADVOCATED
|. TARIFF RBCOMNENDAIiOHS-A ShiiIE5 on IMAM
| GAL PROPOSITIONS. I'D .t. a
iBY TELEGRarg 70 ras rRrnUSGi
CHICAGO, Oct. 24-The first question before
the National Board OF Trade this morning that Of
transportation, which each speaker was 'nnted 20
lyo minutes. Mr.. Burwo OF Nog-or.eans said no
should vote against acknowledging tho power OF Con-
gress to create corporation within Che stltes Mr.
wooley OF Ohio thought the Board was agreed
in favor OF water transportation. In tho
railroad question thcre were involved the
| power OF Congress, the capacity OF the
present sysem for argument tbs oeoG OF Che taTf
on iron and tho oect Of tho great ssiyht nos on taf
charges Mr. Peytro OF Richmond repfcsontof "a con
seryatye midino between the st. L1wrence and Che
Mississippi. Tho whoo subject was sent back TO th'
Special Committee 10 report on saturday mornng Ia"
resolution In regard ship buidngwas coiiderod aud
passed IN the following shape by vote OF SO 70 IS
Pcsored That Justice the shipownirc interest and
the national commerce alike demand thnt Tue rkhs Do
conceded by law TO American ciz'ns 10 phrohase SNIP
wherever built Owned and 10 place ~ under tho pro
lection Of their own fag ON The payment o. ao'Sono'
duty.
The tariff proposition modified and passed in the
following shape: ...... s... 20
RESOLVED That Congress memorIlited 10 80 reyias
the IarH laws that the duties on comni-son pcsiSes'
1
The next subject was proposition toward the simph-
ncation OF tho regulations OF tho Goyornmont
in regard TO the export Of spirits submitted ~ The Cn-
cago Board Of Trade It passed az follows;
Resolved That this Board hereby nsructs its EN"cn-
tive Council respectfully ask tue Secretary Oi he
Treasury anu the Commissioner OF Internal hc'gnu9 10
80 modify regulations for the expectation OF disued
spirits that tho act Sf June 1874 may nave 10 lh
force and eject in allowing under Oniy iCasJnanIe aiI
esnaTff iu sn sfSPe to sIs and
fsther that exporters iom interior ports OF entry ~
the Western states may b. accorded exIc.y tGna priv
leges and mmuntios as axe accorded 70 tao ohze' Oh
every other state. - ,,
structed TO mcrDoral5e Congress lor the p4s3igs U
such shall this great Industry an exact legal
status and thereby place 1t ABOVE the afouENy tnlE'
revenue oie ala, that capital INVESTED IN me dioh
laton aud expectation OF the alcohol OF commerce MAY
find fall and protection uuder the nwS or tho aAd
and business not he subject to the perio
OF arbitrary interference aud irresponsible dictatOn
from any sibord nate department of the Government
The Board thon took recess I'LL O'CLOCK, ana on re-
assembling the report OF the Committee oS FINANCE was
read, recommending plan for resuming specie pay
ments This report published In yesterdays THIB
uNgl Mr. Nsgro of Boston offered the following add
tional resoutioD:
ResolVed That on and after the nst Monday ~ July.
1877, gold and SILVER coin shall DC Le ony es'i t"'er
for the payment OF any debts. public or private
Mr. Kinsey a Cincinnati offered the following:
Eesolrsd That IN VIEW 1t Is not only consistent
with public policy bat conservative OF Gle general VOL
OF national bank currency asa special privilege, ana
give right all banking companies mat iulsh 'he
rcaured security, but not to impair th6 integrity oT
positive safety the circulating notes m any degree
Resoired, That we think inc heavy 1atlonh TAX 70
| which the subjected nighL Us re-
duced with general beneht tn the whole community.
besOired That these changes OF the National Bank
ing laws me banks are required hold and keep the
gold interest aCcrung from the u D DOnds uep1Sl,cu
With the orerninent the security Of their circulating
notes IL will basis for the resumption OF specie
payment in the Iutnre' "hcn the interest D. VIC ""
Tue following substitute offered by dr. BuSley:
Resolred That currency furnished by the Umrd states
Government upon pledge OF 1853 own ponds' WIN pm,
tI..r ae.tN tn
bonds at his option would supply cue requisite oiaS
Resoired That the passage by Congress free bank
ing would remand to the people % Whom ~ Dsions
decision as 10 the number oI oahAs heeu"o i"' 'o
transact lion of their business oil"
| Mr. Taylor offered tho following snbstitnte;
| Resoiced That the National Board OF 1ride recon-,
mend Congress enact law directing the SECRETARY OF
the Treasury contract the greenhaek currency ~ "e
rate OF sl,oO00Jo per month c0mmelsns JrIy !, Io,L
mend Congress to prohiDit by law the psymeh or re,
ception vi interest on current deposits Ny the uSI0n''
Risoiped That the National Board OF Trade recommend
Congress TO amend tue National Banking law That
the banks shall be compelled hold the cola they derive
interest VI their bonds as part OF thef
until their reserve IA coin shall De eqH at least 10 "
per cent of their circulation.
esoloed That National Board OF Trade reoommend
Congress To amend National Banking law, ana com
Del the banks gradually double their capital or reduce
their circulation until 1t sha not exceed % per cent OF
Resoised. That the National Board Of Trade rccou'
mend Congress 10 enact tree BANKING la" cOntshihs
the above provisions.
Mr.. Alien Of Philadelphia offered the following amend
ment:
Pesolred That the payment NJ interest deposits by
the National Banks should. Ia the opinion of this Board
be prohibited by law.
Mr. Smith OF Milwaukee up tho following prop.
OsitiOns
For an amendment t. tho National Banking law pro
vidng that whenever The Treasury notes are restored 70
the specie standard National banks may DO established
nv any aud al persons complying with such Iues and
regulations as may DO provided Oy law.
For an amendment to the National Banking law, re-
ouring all National banks to redeem their nOtcS ~ the
CITY OF NewYOrk and in oil the largest liberty Ia
the banking business.
After prolonged discussion. an adjournment TO morn
ing was effected no action having been taken on the
financial question. This evening the Board attends
banquet az tine Pacific Hotel. large number oil repre-
$ utatiye men being present. .. ...t. ell. ...,