The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1874-11-05
Commercial Arbitration.

The last New York Legislature passed
an act providing for the organization OF
Court of Arbitration for the City OF New
York, having jurisdiction over mercantile
disputes or matters of difference arising
within the legal limits of this port. The
Governor being authorized TO appoint the
Arbitrator, with the advice and consent OF
the Senate, selected Judge Fancher, re-
Gently one of the Judges of the Supreme
Court of this State. The Court was last
week duly opened by appropriate pro
ceedings, including an admirable speech
by Judge Fancher, and is now ready to
proceed to its work. .--#
ANY member of the Chamber of Com
merce having a dispute with any other
member on a mercantile question may
summon him to appear before this Court,
and so parties who are not members may
agree TO refer their differences to the Court
for adjudication. Either party may object
to the process by seas9nably filing a de-
claration to this effect; but If no such OBJ
lection be filed then the Court has acquired
Jurisdiction over the matter involved, and
its award is final, without the right OF APP
peal, except for frauds or collision or cor
ruptiOn on its part. Each party is entitled
to nominate one person to sit with the Ar
DllIdlOT anu III lliC Allell VI AlIS
question and making the award. If no
such nomination be made, then the Arbi-
traitor sits alone and determines the whole
matter.
The great object to be secured by such
a court is to facilitate the settlement of
commercial disputes, without the heavy
expenses and long delays of ordinary
courts of law, while. at the same time
doing justice to the parties interested. 1t
is designed to be a remedy for many ofthe
evils attendant upon the usual methods OF
law litigation. Nor is it by any means an
untried experiment. Similar courts have
existed in Several of the countries of Eu'
rope for nearly half century, and the et-
feet has been found good and only good.
No one is absolutely compelled to submit
to their jurisdiction, yet when parties have
consented to it they are bound by it. We
cannot doubt that what has been so sue
cessful in Europe will be equally so in this
country. New York City is the place to
begin the work, and if here it shall prove
success then the example will be imitat-
ed i'm other cities. We believe in arbitra-
ton for the disposal of both individual and
national differences. 1t is the short way,
and in nine cases out of ten the best way
to attain the substantial ends of justice
Though not applicable to the punishment
of crime, it is. nevertheless, well suited to
a wide field of cases involving the property
rights and interests of men. There can be
no oppression in it, since submission to it
is always in the first instance voluntary.
Some are of the opinion that there ought
to be right of appeal from the decision OF
this court TO the Court of Appeals in this
State. There should be no such right on
mere questions of fact; and, if it be grant
ed at all, the right should be confined ex-
clusively to points of law. A general
right of appeal would render largely nu-
gatory the very end for which the court is
organized and open the way for prolonged
controversies, which are intended to be
avoided.-N. Y. independent.