The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-02-11
IRON AND STEEL.
The Philadelphia ConVention.sThe
Memorial ON Finance and Tariff.

The PHILADELPHIA COnVentl0n.sThe
Memorial ON Finance and Tariff.
The genetal convention Of representa-.
tives Of all branches OF the iron trade
which met In PhilAdelphiS on Thursday
last, adopted a set Of resolutions organlz.
ing the National Iron and Steel Associa-
ton Of the Uniten States, After having
perfected the organization and transact
ed some routine business, the following
memorial to Congress was read and
adopted;
"a bill has been introduced into the
House Of Representatives IN repeal the
second section oil the act Of June Q, 1879,
which made q reduction Of zen per cent
10 the duties on large number Of staple
articles, aud which tended to discour.
age home production, while affecting most
injuriouSly the public revenue, Your
memOrlBlisls
STRONGLY URGE THE PASSAGE OF THIS
REPEATING ACT,
not Us protective measure, but for the
benefit OF tie national treasury. Though
II may not be directly helpful 10 them,
this action will be morally encouraging to
manufacturers and workingmen, as show.
ing that the Government prefers to make
up the deficit in It's revenues from the
profits Of foreign trades rather than by
taxes upon It's own citizens.
Tho propositions presented for yorH
consideration TO amend the tariff laws, BY
excluding the cost Of packages and
shipping charges from the invoice value
oil foreign goods, upon which duties are
10 be assessed, and allow appraisers to
take the cost OF goods at the place of
shipment, rs basis Of valuation, should
not be regarded With favor, and your me.
morisllsis, representing that these propos.
ed
CHANCES WOULD <DIsTURB REGULATIONS
which are well understood, and would
prove injurious to the revenue and to oil
domestic Industries, most earnestly pro-
test against their adoption.
Your memOrialisLs adopt and rCafflrm
the resolution Of the American Iron and
SbCGl AbSuIlhNlOu ~ llA 1851 huluhl uleeks
ing, that the power given TO a single
creditor under the present bankrupt law
to force a debtor into bankruptcy against
the will and TO the injury of sll others
having claims upon the estate, is
UNJUST IN PRINCIPLE AND DISASTROUS IN
PRACTICE,
and the law should be so amended as 10
give 10 three.fourths Of tho creditors, in
interest, the right To control the settle
ment Of the affairs Of an insolyent, and to
prevent them from being subject to the
proceedings in bankruptcy.
"Your memorialists feel much anxiety
concerning the revised and codifed laws
Of the United States, now pending in the
House Of Representatives. They have
learned that II ia not an exact transcript
OF existing statutes, and they fear that the
slightest changes In the schedules of Gus.
toms duties may bemost injurious to bust.
ness interests and the public revenue.
They respectfully suggest that
THE TARIFF LAW SHOULD BE OMITTED
FROM THE REVISED CODE
until reformed by the passage OF the re-
pealing act, hereinbefOre prayed for by
the conversion Of ad Ual0rem into specific
duties, and the enlargement of the free
list, in 60 lar as II can be effected without
detrimCnt to the industries of the coun.
try. II this delay cannot be granted,
they would ask that 30 much Of the 70.
ViSed code as relates TO duties and
taxes may be examined by competent ex.
perts, and published for the information
of the country belorelt is finally adopted.
"Your memorialists, sympalhizing with
the general wish that the government
may be brought into more intimate re-
lations with the people, which has sug.
gesled the erection Of executive bureaus
Of labor, transportation, and Of a depart
ment oil commerce, would
RECOMMEND THE CREATION OF TIE DE,
PARTMENT OF INDUSTRY,
having for its head a cabinet officer, to
be entitled the Secretary OF Industry,
which department shall contain bureaus
oil agriculture, manufactures, and com
merce. These three natural grand di.
visions Of human labor should have equal
regard. bestowed upon them, and their
harmonious organization as above sug-
gestec, seems as necessary as 1t Is SYM
metrical, Under tevery business CUES
uon which becomes subject Of national
concern may have appropriate reference,
Congressio nal committees will be relieved
oil some part OF their most onerous la
bors, and there will be less danger Of par
tial or negligent legislation.
your memorialists substantially con.
cur in the opinion that legislation il need.
ed not only for present relief TO the coun-
try and the treasury, but also to guard as
far aspossible against financial troubles in
future.
PANIcs AND PERIODS OF GENERAL PROS.
- TRATIoN OF BUs1NEss
have occurred from time to time in all
commercial countries Different finan-
cial systems seem alike liable to them,
and they are quite as frequent and dsas-
uous when coin Is the standard Of pay
ment as when mixed currency or paper
alone Is employed. Your memorialisls
believe that the history of the country,
since the close Of the late civil war, shows
that its financial system, built IN under
the stress Of circumstances which strained
to the utmost the credit and resources OF
the nation, is well adapted to the needs OF
the gOvernment-and the people, and in
stead OF dlscarding any. Of It's elements,
they would preserve, reform, and perfect
II TO this end they would recommend
The following measures; First,
LIMITATION OF TItE ISSUE OF IEeA1 TEN.
TO s44OOOYOOo. second-Repesl of the
Limitation upon the currency, and free
dom Of bank circulation under The Ma.
tlonal Banking laws, subject 10 such req.
ulationsas will tend to afford ut all times