, 1874-01-15
NATIONAL BOARD OF TRADE.
Second Days Session Of the Adjourned
Meeting at Baltimore.
Plan for Additional Safety to Ocean
Travel.
The Revenue LaWs---Report Of the
Finance Committee.

E;n,ooo cour,;4too
spseia' Df'pafeh to 7hs Chicago Tti'nhe
bal nA4aoas; Jan, line session OK tne National
san ., nhane,a nnonen .ne nss.
on @,t tba North Aao noar
mcnded that Congress shall aopt tbo suggestions Of
tho Nav YORK chamber of cononoorco for M 1n,cr.
such trnck. and take further precautions to preyen.
Aftor this ..-
TIE r1NANcrAI QUESTION
1nittee:
ileso{utd, That tho National Board Of Trade respect
fully recommends to Congrcaa TINT there shall DO no
further Issues OF lrrceomabio paper money whatever,
Second-That in the opinion Of this Board it Is tho
first duty Of tho Government provide for the RETRO
isaue as has bean taken from iho so-called Hi 900
ressryo; as;r; rh,4 =. +, H.. ,. -, m
cpt to restrict tho expenditures in every department
thst stfist be Instituted ID a appropra,ions
the National nanks law t,,at tho bsuks 10 compelled
to hold The coin they rccoyc for interest ou their
to equal At least to 80 PER cant of their circulation
roe saHs na II pso s. Of ths
a " a the naa 1m
authorized to issa m imItabs c,rcuiatton. uncr
Is e sa ' s osEe 10 IN s s
camo ] from having cnrrcncy syatem to wh!cll tao
in is72, and rotten banks would 10 forced into qua
81 ar g e 70 a
new financial systc. betore there would como such
Of %t @ Te n1nng hss
and ho thought it best that il should come Tho syg
erchunts and could only 10 broken u by Violence
as slavery was destroyed b tho frat gun re at Fort
oatttrs Ghcndon,s tleorc, made marked ;mpregs,ou
md prominent member remarked that It was an in.
'AA'''' ~ NM erEVsSs or OF NEW SonK nass'as
argued that nobody wanted to change National Bank
TIT unlimited isso Of currspcy ~ would etys II loo oI
facilitios to portcrp increase tho balance OF troo
against u.s. nnd ri1o up dent that must be paid in
coin. Tho legitimate result ot irreleouable currency
| Mn Donr or nIrJnsnn
aucnco tha asks or more cus1anoy ~ ~ ~. tat T.
was not necessarily imitation bocs,lso ho wanted Cd his
o return m
rnes, because his 81 600 would thcn ba oaua to
s, l,100ooo. THO mon who had money anl owned prop
| but those who were In dcbt, OF whom
10 wss one, would prefer that thoy
than their Just DUES How do tho creditors compare
with tho debtors? II had million tollars lie
largo creditor, hut very fcw people ers capital-
lists aud out Of debt. There gEent urgency for
Dora exhibited tahea by Mr. Elliott, Of the Treasury
Department, showing the average currency price OF
500 In gold. and also the average gold price
sloo in currency from 1860 to 1873. Tho general
tendency Of gold has been rapidly downward aud ha
believed best to let 1t tako It's Have
too much cnrrency7 Wo havo only sis 900, GOO moro
than VIC had FIVE years ago. aHd does It require any
argument to prove that a000o 900 Of people did not
1uiro much currency 40 000, GOO, doing doublc
the amount Of business. To show that there ia not
enough currency present, Mr. Doro read etatfstcs
showing the tremendous 1ncrGa68 OF population,
| manufactures, amount Of wagcA paid, value Of
| material used and valuo Of products SINCE