, 1875-06-20
NATIONAL BOARD OF TRADE.

The National Board Of Trade closed its
session in Philadelphia on Friday last. It's
recommendations may thus be summed up ::
I, concerted action against the addition to
bills Of hiding and railrosd receipts Of condi-
tons unknown to the Common Law; 9, that
inland carriers be required to deliver the
quantity By weight Of grain shipped; 8, ad-
vising the appointment Of commission Of
American and Canadian merchants to prepare
treaty for reciprocal trade bstween the two
countries; 4, recommending the Centennial
to thetpride aud patriotism Of the country !;
5, urging continued attention to the subject
Of transportation by Congress- and the State
Legislatures; 6, urging the establishment by
Congress Of bureau to gather ana dissemi-
nate information on the subject Of Transports
ton; Z, insisting that railroads shall receipt
for quantities Of merchandise.
There were various other things urged upon
the Convention, but they rejected them ALL
On the important questions Of finance and
currency the delvernnce Of the Convention
was Is follows:
Re.oEred, That the present time, when commefcia1
the currency excessive thafarge amounts lying
idle presents favorable opportunity for tbs nstu-
ton Of measures to restore specie payments.
Resotped, That such payments cannot be restored
and maintained - long paper currency exists which
can bs uaed In legal payments, ipstead Of specie.
Received, That the National board Of Trade thare-
fore prays Congress to withdraw from circulation and
cancel ths United Stataa 1ega1tonder nots@ by in
stutng rneasorea for this purpose ut the NEXT
sion.
Re.olred, That the National Board of Trade hereby
expresses its Of satisfaction that Congress ha4
fixed day for the resumption Of specie payments. but
that 1t cannot withhold expression of its
TINT no well-considezed methods have been adopted
for the execution Of that measure, aud begs Of Con-
greas that 1t will place 1t the earliest period poszbla
suitable In the hands Of the Secretary Of the
Treasury for the proper execution Of the aw providing
for resumption ut the tina named.
These resolutions were adopted by nearly
an unanimous vote. They are in admirable
contrast with the dolefu1 wailings of Mr..
KELLEY at Phi1adelphia, and the equally
absurd ravings Of Mr. PEp1EroN at the, Ohio
Democratic Convention. The present time,
when the commercial Indebtedness is COM
parahvely 50 small, and the volume Of cur
xency so excessive that several hundred
millions Of dollars are lying idle, offers pecnl-
lar advantages for rapid resumption Of
permanent specie basis Of values. The reso-
lutions truthfu1ly declare TINT the serious
obstacle which stands in the way Of this re-
sumption is that a paper currency is leealized
in payments instead Of specie. The other
resolution, urging Congress to adopt such
measures as will enable the Secretary Of the
Treasury to carry ont the law OF last session
fixing 1879 as the date Of resumption, was
very timely. We have no question that the
Board represent on this question the senti-
ments of every thoughtful man engaged in
honest and legitimate trade and production
IN the United States.
In the Convention there was gentleman
from Detroit, who thought the great trouble
was due to the fact that the tariff was not |
rrohibitory. He declared that it |
was anomalous that We should export raw
cotton and then re-import the same cotton (
His remedy for this was such |
an increased duty On manufactured cotton as |
would prohibit the importation It seems
mover to have occurred to this gentleman TINT
it would be better policy to SO increase the !
Of cotton in the United States !
hat We would have no occasion to buy, aud !
would have surplus to sell to other coun-
:ries- That is the way to effect permanent |
exclusion Of foreign-made cotton goods. end
his can only be done by such se-
luctlon Of the premium on non-pro-
1uchon in this country as will encourage
manufactures, At present We only produce !
! comparatively small quantity OF cotton
pods, when we might not only hive
Of the home supply, but could ex-
,ort to all parts OF the world. We must
AVE general export trade. We have the
rw material and the labor We employ the
abor three days ont Of FIVE; we make three
ards where we ought to make i've; and our
manufacturers, under the protective law, de-
nend for the three yards what would be q fair
rice for the fvs- Tho result is, the foreign
q epnes In md undeasal1s tham In THAR own !!