New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-23
POPULAR INTERESTS.
THE NATIONAL BOARD OF TRADE Al
CHICAGO.

~
THE NATIONAL BOARD OF TRADE Al
CHICAGO.
SECOND nays OBSERVATION-DISCLOSURES FOX
REVISION OF THE BANKRUPTCY Lw-GoVhhN-
MKNr AID TO AMERICAN sHr-BCilDfhs VI
posxp--1NpoRTANT RESOLUTIONS ON THE TRANS
PoRTATros QUESTION.
lBY TELEGRAPH 10 THE TRIBuNEl
CHICAGO, Oct. 22.-The deliberations Oh INC
S,,o,a Roard OF Trade are conducted with that ssl
and oompre hension that mark the man OF anss, anu
the assembly would bear comparison with any Juucn"i
or legislative body holding sessions IN the country ne
most noticeable member is Col W. NJ Grosvenor OF 81.
Louis and other leaders are Judge W. M. ButWeh VI
New ORLEANS g. T. stranahan OF NewYork, Il. e. herseS
of Portland and Alvah Crocker OF Boston, on reas,
semblng this morning the Secretary read the repo''
the Committee OF the Executive Council on inc DINA
runtoy Law which declares that the experiment OF
national law has been thrice Tried with uhsats'ac'y
results but has probably worked out the only reneuy
for the mass OF debt and embarrassment tnS grew Vu
of the late war The Committee have come 10 the Gun
lrston that IL needs very thorough revision TO auapt
II 10 commercial transactions made In the ORDINARY anu
regular way Of business and unaffected oy any 'oon.
rescons growing out OF q state Of war or oil un'ersa
disruption OF the of trade They oner 'nS tut
lowing suggestions for its amendment:
rssI Tat thu whole system Of icOmpensatlon py ices
sband be abolished and that clerks, marshals essen
gers and registers should be paiu oS hA'u '"'Ai''
soonS That the numerous references OF the admins
tratiOn OF the estate OF bankrupt 10 couIt ner of
suneTseded by enlargng tho discretion ana powers Vi
Ttird That TO aid the assignee In the settlement OF
e o.tate contded 20 him the creditors shoud ~ Ine
so lime he s chosen choose also a committee OF not
less than three more than hVe cTeutOIs ,iaonfs
have power 10 authorize compromises anu 10 on
mn; dentors and 10 direct and approve OF sales o. prop
erty and to audit and settle the accounts Vi 'N0 "
ftb Thai unless application made to the
Court for its Intervention py cremto naI~ation set-
been proved the whole burden OF the feszatoh, 1S,
Element and distribution OF the estate sno1'a t me
absolutely to the assignee and cOmmttee, anu 'n as
proof of debts should be made IN sucn FORM 90 "
satisfactory 70 the assignee and majority OF INC CUM
mlttee. . III, 80 nronertv IN he
exmnt from the assignment should be fixed by the Jaw
of the United 81 ates, and not DC dimnisneu VI
We recommend therefore, that memorial shall 20
prepared praying Congress to cause revision ~ ~,
Rankrunt law OF 1861 be made by colnniSsion W
consist of the Attorney General OF the Umted St b
and seven merchants, bankers and %
what amendments il any, should be made TO he Jaw Oh
whether it is e1pedient thst 1t should De repeaou i'
RSsoired That Just regard for the increase of Amer
lean shipping interests should cause congress 70
American snp-buders ana su'pQWhois, ~ an the
lUwance Of bOuutes for building ships wheone. ,ne
materials used in construction DC OF foreign 0l "a ny
lean production, so that the American sup D eIing
be placed nearly as possible upon tno S'ino is
with his competitors in other countries . -
ReSolped That Board would renew us recomlnen
datlon TO Congress that all articles OF foreign produc
needed for sSs IN nh ergG be- allowed
Withdrawn without payment OF duty from oohueo ""i0
house. .-...-,. -. q,
ReSolred That Justice to the smpownng interests ana
the best welfare of the national commerce ahhe uc
mand that the right he conceded by law 10 AneIcan
citzens % purchase tonnage wherever built or owned
and to place it under the protection OF their own nag
spirited debate ensued, in which the fact WAS de-
yeoped that large majority of the delegates were OPP
posed 10 any protection for shipbuilders The resou
tons were defeated in succession but the last TWO VIII
no III.
Chairman of the Board presented draft OF bill 10
establish the Department Of Commerce. which was re
ferred back TO the Executive Committee with lnsruc
tons to press the matter Congress Col Grosyenol
from the Committee Transportation presented the
following resolutions, which were made the specla
order for 10 tomorrow morning.
First: That OF facilities and chespehng On
rates OF transportation between the interior ana Tue
seabOard longer 70 be considered measures oi
local advantage, but have become NATIONAL necesslies
Second That any railway for transportation OF IIeish
exclusively through the several states DeI~een inc III
terror and the seaboard should DE chartered Nv ue
eTal Government whenever private capta may uhu.i
take its construction hut that ch road should he SUI
ject to the same laws as 10 taHaOh OF STATE cOho 90
| other roads within the same state.
Third That is the duty Of Congress to affirm by law
tons which may be imposed by within any State upon
commerce between other States passing It's terri
tory but that the protection OF the people OF each state
against unjust the part of railroads within
limits or failure to perform their full duty common
carriers NAV most effectively be secured by the people
| OF such State through Legislatures and courts.
| Fourth: That the ouly compete aud permanent re-
sraut upon unreasonable eIactons fol- transportation
must be sought in the development and Improvement Of
the natural water routes TO the end that these free
! highways for commerce may mOYe freight during
much OF the year possible az the lowest possible
rates and thus compel the railroads TO carry at equally
low rates or lose the trac We therefore rejoice at The
commencement OF important improvements 10 the Wei
land and ST. Lawrence Canals by the Dominion Of Can
ada in the efforts by the State aud citizens OF New
| York TO improve methods of transportation by the
canals OF that state and in the close attention given 10
otner projects OF interior water communication and
trust tnat the Improvement Of the ONO and Mississippi
! Rivers may be pushed without delay to completion.
Ff: That the yearly appropriations OF the Govern
ment for the purpose OF internal improvements in
| great part applied unwisely aud wastefully aud We
therefore recommend the creation OF National Board
| OF Commissioners for internal improvements, to be
composed in part OF distinguished engineers aud IN part
of practical business men, whose duty II shall be
all plans for the Improvement OF all the highways
OF national character and 10 decide what
aud plans the aggregate sum appropriated for such
prOyement he expended with the largest and most
complete benefits 10 the whole country; and that ap
preparation shall he made by Congress except the
| recommendations Of such Commissioners.