Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-01-16
NATIONAL BOARD OF TRADE.
The Memorial Of the New York Chamber
OF Commerce IndOrsed-Als0
tsat of Boston Board
Of Trade.
OCEAN TraYsl-COllte etiOn Of Custom s
Duties-The Centennial Ceiebra.
tiOn-NaliOnal Finances,
Etc, Etc., Etc.

| BALTIMORE, January l4.-The Ma
| tiOnal board of trade TO day unanimous
IL adopted a resolution indorsiDg the
memorial of the New York chamber OF
commerce to congress, praying for an
international commission with the mar
itime powers to devise laws for addition
al safety to ocean travel.
After debate the first resolution Of the
Boston board of trade relative to the
change in existing revenue laws, was
adopted, and the remaining ones re-
ferred to a committee to report to-mOr-
row. The resolution adopted is as fol-
lows: "Thst in the judgment of the
board the laws under which the custom
duties are now collected are difficult To
understand, and in connection with the
demoraliZiDg system of Tewarding in
formers with matters, and with the
arbitrary powers vested in the officers
who are themk elves informers, to seiz
books and papers which they commonly
serve as traps for honest importers, and
an encouragement to corruption, op-
preston and bribery" A resolution
that in view Of the proposed centennial
celebration in Philadelphia, that city
will be the proper place for holding the
session OF the board during the present
and coming years, was referred to the
| executive council.
! The subjects relative to increasing and
| cheapening transportation, were RECON-
mitted, passed, and Mr.. Fraley then read
the following report from the commit
tee Onsnational finances:
ReSOlUed, /. That the national board
Of trade, respectfully recommends to
congress that there shall be no further
issues of irredeemable paper money
| whatsoever.
,. That, in the opinion Of this board,
it is the first duty of the government
to provide for the retirement and can
collation. of so much of the legal-tender
issue as has been taken from the so-call-
ed forty-four million reserve.
g. That it is the imperative duty OF
| the government to restrict its expendi-
lures in every department of the public
service, to the lowest possible point, and
that strict economy be substituted IN all
departments.
1. That congress be requested to so
amend the national banking law that
banks be compelled to hold the coin
reserve for interest on their bonds hy-
pOthecated as surety for their circulation,
as part of their reserve until their re-
thirty per cent. of their circulation.
The balance of the session was occu-
pied in debate on the report. The de-
bate will close at one o'clock to-mor-
row evening, and g vote on the report
taken. Adjourned.
SECOND DAY.
BALTIMORE, January 15-The Ma
tinnQl hoard m frann raoCaorr1 hlaI fhfO
morning.
The secretary read a communication
from the American cheap-transpOrta.
ton association, now in session in Wash
ingtOn, inviting the National board to
be present during the session. The
board rendered a vote of thanks, but on
account of a press of business, could not
accept the invitation.
The report of the committee on ma
tionsl finances was then taken up.
John II. BOyntOn, of New York,
moved as a substitute for the report OF
the committee the views and suggestions
of the committee appointed by the board
of managers of the New York produce
exchange to consider the subject Of
national finances.
Mr.. Bonner, of st. Louis, offered q
preamble and resolutions as substitute
for the report of the committee on
national finances.
The debate on the report continued
until one O'clock, when the report of the
New York produce exchange, offered
by Mr.. BOyntOn as a substitute for the
report of the committee on national
finances, was voted on. Rejected.
Mr.. Stephens, of New YORK, withdrew
his amendment, offered yesterday.
The amendments offered yesterday by
Messrs. Nazro, of Boston; Bonner, Of
st. Louis; Grubb, of Philadelphia, and
Dore, of Chicago, were seyerally re-
jected.
The original report of the committee
on national finances was then taken up,
and the four resolutions telegraphed
yesterday voted seridtinl, and all adopt
ed; first, by vote of fOrty-fOur to nine;
second, by a vote of fOrty-six to ten;
third, unanimously, and fourth, by 3
vote of thirty-six to eighteen.
Mr.. GrosvenoT, Of st. Louis, said he
was instructed to make a report from
the committee on transportation.
The report was ordered printed and
made the special order for tomorrow
morning.
Mr.. Grubb, of Philadelphia, from the
special committee to which the proposed
amendments to the revenue laws was
referred, handed in the report, which
will come up tomorrow. Adjourned.