The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-06-29
NATIONAL BOARD OFTRADE
WHAT THE Merchants THJNK rs
WORTHY or hMENDMENT.


A National Department Of Commerce sus-
restcd, and the Reasons Therefer-Csn-
demnine Our IrredeemabIe Currency.
The National Board of Trade resumed
IL sessions in the Union League Theatre yes
terday. Mr.. Nourse OF Boston offered a resolu-
ton, being memorial to Congress- praying
that silver coin shall not be made legal tender
for sums larger than S.. II was referred to the
Executive Council.
Mr. Price Of Scranton offered the following as
an amendment to the Constitution Of the United
Stntes:
sEcr9N ~ The financial management O. The United
s1en nf - Soe,as n. The Vopepos NAV from time 10
time ordqin and establish the manaysrs o9th o. the
during good behavior and s6al al stated time. receive
f9r services cr wne cc sA not oe
,rc. .2) The 6nsncial MANAGEMENT shall end 70
appropriations the negotirton Of loans The Keeping
financial branch o. goyeremen. sr.iug under the Con
made or which shall be made under Their authority
The resolution was referred to the Executive
Council
Col. +. A. Conkline moved that the several ma
tons Of North and South America he Invited to
send a representation to a Commercial Congress
to meet In New York on June !, 1871 for the pur.
pose of considering the interest OF international
commerce.
THIS resolution was also referred to the Exec
he Board then took up q resolution submitted
by the Board OF Trade " philadelphia;
That tits expedient for the National Board Of Trade
20 continue ts influence for the establishment
OF u National Department u Commerce.
MI. j. y. Hayes Of Detroit addressed the
board NJ length In support OF tho addition Of
such n department to the general Government.
Commerce, he said. should havo vinu head
and heart that should be a part Of the Cabinet
Council Of the nation a Department of Com
merce. from which the public can yet informa-
tion that II official and reliable I'm regard to the
/ general business Of the country. and have a fair
representation at the seat Of Government. When
| our Government was formed one hundred years
| age, We had about four millions Of people, with
| a very small amount Of trade and Commerce.
mere trnc Of what we now have. We were then
without railroads, steamboats,, canals, tele-
/ graphs, ana many other modern Improve
tive. export and import trade being com
uaratively small and done at few port".
! The Treasury Department OF the infant repu
/ lie consisted Of four bureaus; now there are
eighteen bureaus, many OF them embracing
subjects wholly foreign to the proper business
| OF treasury Department; Inc business OF Use
country has outgrown the supervision OF
Secretary OF the Treasury IN the multiplicity of
his more immediate duties. The neglect OF
| o'ricial supervision OF the commercial interests
has given rise to Granger Societies. Cheap
TRANSPORTATION Associations. railway COM
binalons. and railroad wars, all basing
their claims 70 public consideration upon
| wild aul absurd statements growing out Of
IN billy 10 obtain official facts aud figures
| The Department of Commerce should be ex-
| tended over the " Bureau Of Agriculture" and
GRACE the statirtics from all that goes TO make
| up the general business OF the country. Such
commerce might do very much to bring about
uniform weights and measures, uniform bills ot
lahinR 10y sea and l.ni, uniform customs and
terms among the commercial men OF other
countries doing business with the United States.
such a department. with a proper and efficient
cabinet officer at It's head. would DO very much
toward placing the commerce Of the country
upon "a sound reliable basis, which would ore.
tect US 10 some extent from disastrous panics,
fluctuations. and comnercial crises due to the
want o. proper official knowledge OF the COM
merce OF the country.
MIR Gambler OF Hoston alone raised his voice
In opposition to the proposed department. lie
argued that willie the compilation OF statistics
of commerce may he a desirable thing Ia itself,
he was not uer-uaded IN tho harm to result
from multiplying ofirials In an already too much
governed country might not result In dispro
portioned evil. lie might favor the rceEatlnn
OF such work TO the different states, hut he felt
cons rained To opuoae centcring more poser
and moro patronage In the general Government.
President fraley ana MIR. Hersey OF Portland
addressed the board In support Of the motion,
and u was PASSED with two or three dissenting
voices.
The deliberations Of the board were then d.
rected u the foilswinr resolution regarding
the national currency submitted by the Boston
Board OF Trade
R,solred That the National Board Of Trade reafirms
emphsu aiy IS ions erishrd AMI repeated couyic.
country 0r,opV ina o M VIA 16 enc
OF a." $ s9e asp5sd!aea paPT currency
trss deDtcon snd 5un II to BE- found in the restors
he'oircr Inst The grs,snt .'sgneton OF business
c,fsary results of nnannn snce ending IN
eo,sp e. furnish mo-! ta,orae,r opportunity for re.
so1rd basis, by sihdrs"nf from circulation the large
|
tanned ON p with coin, and call earnestly upon
me Congress ~ the Tinted states a. DELAY longer
tue rrtcupou or canoe laOn OF the present surplus
OF legal ieEder notes
Mr.. Jos. G.. Grub Of PHILADELPHIA did not be-
lieve IL possible to conduct such money sys-
ten as this country requires under the existing
banking law, cnangoabie "a II IL at wilt Cor
pora-c action, Instead. must supply the requi-
size authuritv our paper dollar Is falsehood, a
spendthrift N i urohigate aud fraud. In
ever, foreign market II IA secuted from the ave-
nues OF trade as unfinished and sent before its
time, while al home 1t remains to create "A debt
vii Labor and tho precious metals alone can
discharge. In the stock markets II II tale told
by an idiot, fun Of sound and fury, signifying
nothing. our want II relief from the gold
| IsemIuil, not more currency Ia pager Ihe gold
premium H. the fatal enemy OF all enterprise.
oar evii IA IN circulating paper promises IA
money! which arcallO wed To approach ana to re-
cede from the specie standard without restraint.
Mr.. Edward Vernon Of ST. Louis made "A fe W
remarks IN opposition to resumption expedI-
ents. charging that It's tendency 10 sectional aud
not national.
Mr.. Ropes of Boston denied that gold curren-
cy IL national essen tally, and not NJ, tonal. II
~ To prove the salvation of commercial classes
aud labOriug classes, but above all Of the con-
sumin2 classes.
AT TINS point Of the debate tho board ad-
journed to make the ex ursIon of the harDor
lnNf fn.ti.. of 4 Naus Va. al.