The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-13
NEW YORK PRODUCE EXCHANGE.


Meeting or the Board of ManaGers-The
National FtnanceS-The Naval Stores
Trade-Deyegates to the National Board
OF Tradc-Petition to the Legislature.
The Board OF Managers OF the New York Produce
Exchange held meeting yesterday afternoon,
and, after dispensing with the usual preliminary
business, announced its readiness to hear the re.
port OF the committee appointed to consider the
subject OF the national qaances This committee,
consisting of Messrs. Franklin Edison. Benjamin
". Floyd, Benjamin G. Bogert, william Ii. Phillips,
g. ID. Harrison, John II. Boynton and Henry Kemp
submitted the following views and suggestions,
asking shat the same may be transmitted to our
senators and Representatives in Congress Assem-
bled in the name OF the New York Produce Ex-
change and as the recommendation OF fts mem
bers; also, that copies OF the same Je forwarded
to the various Boards OF Iraa9 throughout the
country. inviting their c0nSl9eratlon thereof and
action thereOn":-
Era-The New York Produce Exchange fully admit
an nds nst s9s e
tute the only currency that is true measure OF Values
Ss s'%S :ss
national LEGISLATION On the out NY we eeevs ac
and should Be made 70 depend not any nssd
coin a. ne pleasure the holder uy meet ds%snds
70 annessssaTy iSr either issue % b increased
and t the whos Of the g 81
aaa BE- ssn snd St the resumption Of psS
value the Mint shall be empowered to exchange bullion
that legal tenders thus reissued shall be against gold
TIrd-As the amount of currency required to settle
balances between different parts of the country and the
own and OTHER countries very small compared TO the
whole volume Of re- we believe that
dsE until after hs as % ss
lessen the amount OF coin requisite for maintaining spe-
consider the national bsnkins system il
of such ameHdments will produce the following re-
l. That the reserve on circulation shall be held en-.
trey in legal tenders while the reserve on deposits NAY
S bs an,a' must be- in legal tenders
the amSun IF the ss be ns:e On
circulation and another on deposits.
shall be held on deposit to the credit OF
mat while the aggregate amount q national 6sn1
ss Sn ali be- 0sen
ses nGi pes and
draw portion OF such bonds by surrendexing mo
Thst National Sanrs required to provide so
S Of spees aa only thus
na s Of she s s:. Sra
venispce Of !rsnsposonn r.. rom the onera.
he s. that SssS TT &
tender reserve, and firmly maintain that such porao9
to he
ha e the S s
regular wants Of the be PROVIDED fSr y
loans; and mat temporary deficiencies 30 met BY in.
terestbearng Treasury notes. which shall not be used
'Os hold that the United States Treasurer should
for
@s cent? siSag
issue Of suHn A sHsr ~ nH er shon6
issue to any person Or corporation legal tenders II
81 s?s psrs cent pledge
nsS os q q
amount Of such issue not to sxessd Of
~:
;hs provide for the .ssamp;
sS Ss saeresss "a a s0T s s gn
and FIVE n PER e cent 70 d bona
the redemption Of legal tendsrs and that the United
states shall on and after the sd Ia cay Of ay n
New York shall have averaged below per cent
ders IN coin, on demand.
The Board OF Managers approved the report a.
submitted, and set apart tomorrow at nail,pass
OF the Exchange.
The committee appointed to consider the queS.
ton OF who were competent to vote upon the pro-
position to change the rules OF the naval stOrea
trade, made tne iohoWink tePoIIs "WCn Woo
adopted by the Board
Ali members of the Produce Exchange engaged in the
naval stores trade, either buyers or sellers have
right vote all questions affecting the naval stores
trade.
The delegates to the adjourned meeting OF the
National Board OF Trade, TO be held to-day IN Baiti
more, advised that they would leave Tor thaS city
last evening. The names Of the delegates are L. J.
ton, Theodore j. Hustled, Forrest II. Parker.
PETITION TO THE LEGISLATURE.
Yesterday the annexed petition to the Legislae
ture asking that the Erie OswegO and Champlain
canals be improved as called Tor, and for reduc-
ton in canal tolls was placed upon the desks or
the Exchange for signature. During the day 1t re-
many OF the members, al OF whom consider the
subject of the greatest Importance, and trust that
their request may receive the attention which 10
Demands
To THE HONORABLE THE LEGISLATURE or THE STATE o
We the undersigned merchants Of the city Of New
York members of the York Produce Exchange, and
others engaged in the commerce OF the country respect
n ay Of she Erie osweso and Champan canals
the building vertical stone walls IN place OF the
slope wa by the removal OF az o9stG9cn0ns On se 70
water may be maintained throughout the entire length
of said by the lenathening OF the chamber
sfvie OF gates and by such other improvements
As be needed afford the greatest possible carrying
capacity atanan!e w,n ca you attention to tho
being made III and through other States
and especially by the Dominion Canada 70 secure tne
this trade being diverted through competing routes
vonr petitioners the Importance OF erecting these
At the earliest nssSucaols t h xna
attainabe point
SALARIES OF BROOKLYN CITY OFFIOIALS