The New York herald., 1874-01-15
THE NATIONAL BOARD OF TRADE.

The Merchants Favor the Establfsh-
ment or Outward and Inward Tracks
for North Atlantic Steamers-Dfscus-
sion OF National Finances.
BALTIMORE, Nd, Jan. H. 1s7l
The National Board OF Trade reassembIed tina
morning, at quarter past ten O'Clock. Presidents
Fraey called the Board to ORDER and introduced
Rev. Dr. Backus, OF Baltimore, who offered prayer.
Mr.. STEVENS, OF New York, moved that tue sub
ect OF ocean tracks, now before Congress, be laid
before the Board and offered the following resOlu-
tion.-
Resolved, That the National Board Of Trade cordially
sppr0wo ana "a sndore the memorial OF the ma q
states Tor the estblsment Of en international
seRs ae % o aS %sms Powers to lay aSwn oo M
son a. ny and 10 asyse such other laws ana
The resolution was unanimously adopted.
Mr.. FrAIEY stated that the Board had neglected
yesterday TO tender a vote OF thanks to Mayor Van
SAINT for his cordial letter Of welcome.
The Board then unanimously rendered vote OF
thanks. q .3,s y II s-s.. 49,. .--s,s.<
Mr.. NAznO, OF Boston, moved that the Board pro.
coed to the consideration OF subject No q. sub
mitted by the Boston Board of Trade sthat the
National Board OF Trade be requested to consider
whether any changes can be recommended IN ex-
tSting laws which viii tend to render them lesa
open TO doubt or misconstruction and to place the
government aud the merchants more in equitable
relations with one an0ther.r
MIR. BOND, OF Boston, presented series of reso-
lutiOns OF the Boston Board OF Trade bearing On
the subject. A debate ensued, which was partici.
pated in 10y MeSsrs. Na2rO OF Boston; stevens OF
New YORK; Nourse OF Boston, aud others. Mr.
moietles allowed 70 iniormers was disgrace, ana,
unaer ta tne present law, any empoye OF firm can
enter into cOllusiOn with revenue officers to de-
lyavd, and sad the law STANDS as If every mere
chant ana Importer vas rascal.
known there were dishonest merchants in every
CITY and every honest merchant had an intereat
IN having the revenue laws enforced,
Mr.. TAYLOR, OF Cincinnati sad he doubted
whether the laws regarding penalties and m0ietea
After further debate the first resolution Of tho
Boston Board or Trade was adopted and the re-
naming ones referred to committee TO report to-
morrow. The resolution adopted Is as f0li0Ws:-
"That, in the judgment or the Board, the laws
under which the customs duties are now collected
are diiIcul. to understand, and, In connection
with the demoraIlzng system OF rewardtng in
formers with moeties and with the arbitrary
powers vested in the officers. who are themselves
monty serve as traps for honest importers and an
encouragement 70 corruption, oppression ana
Mr.. SoURsE, Of Boston, introduced a resolution
that in view Of the proposed centennial celebra-
ton in Philadelphia, that city would be The proper
place for holding the session OF the National Board
OF TRADE during the present and coming years.
On motion the resolution was referred to the Ex-
ecutive Council.
MIR. MCLAREN, of Milwaukee, moved that sub
ecJs i've, SIX and seven, relative to increasing and
cheapening facilities for transportation between
the interior and the seabOard the transportation Of
grain IN Dulk, &C., Oe reCOmInltLeQ 10 COulLOtt~
tee on transportation. The motion was adopted.
President FRALEY then read the following report
Of the Committee on National Finances. to whom
was referred subjects to four, Inclusive, the
official programme
F,s-Eesolved, That the National Board of Trade 70.
spectully to Congress that there shall mo-
further irredeemabc paper money whatsoever
Sec0adThat in the opinion of this Board it is the rse
duty of the provide for the retirement
has been from the so-cailed $44,00ON reserve
Third-That 1t Is the imperative duty OF the
restrict its expenditures department
pubic service to the lowest possible point and
Fourth-That Congress be requested to SO amend tho
National Banking law that the banks be compelled
hold the coin they receive for interest their
hypothecated security for their circulation as part
their reserve until their in coin shall bo
equal at least 10 70 per cent Of their circulation.
| resolution was offered that these resolutions
be made the special order for the consideration Of
| this body tomorrow.
Mir. STEVENS, OF New York, opposed the last
named resolution, ana moved as an amend
| ment that the discussion OF the subject be pro-
ceeded with at once. Mr.. Stevens amendment
was adopted.
The Board then, on motion Of Mr.. NoURsR Of
| Boston, went into Committee OF the Whole TO con-
| slider the report.
| The balance OF the session was occupied in q
debate on the report OF the Committee on National
Finances. which took q wide range On motion OF
| Mr.. GROsvENOR the Committee of the Whole re-
| ported progress and were discharged until Co
| morrow.
| Mr. VAN HORN moved that the debate on the re-
port be closed at one p NJ. tomorrow, ana that
! vote on the question be then taken. Adopted
The Board adjourned until ten O'Clock tomorrow.