The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-06-29
NATIONAL BOARD OF TRADE
Important Meeting at the Union League
Club Theatre Yesterday.
Broad Financial Suggestions and
Resolutions.
HARD MONEY ADVOCATED,

The second session Of the National Board Of Trade
was held yesterday morning in the Union League Cia
Theatre Mr.. Frederick Fraley, President OF the Con
vention, took the chair promptly at ten A. ~, anc
announced that representatives from the Dominion
Board OF Trade Of Canada present. and he intro
duced them to the members: Mr.. Andrew Robertson,
Mr. Thomas White, Jr, and Mr. William J. Patter-
son OF Montreal; Mr. :. W. Farrell. OF Toronto, and
Mr. S. H. Grant, Of Quebec.
Mr. Robertson chairman or the Canadian delegations,
made speech thanking the Convention for their
dial creating, and hoping that the amiabe reix-
tons that now existed between the countries
would always continue
Mr. Frank Wright, Of Birmingham, England, was
next introduced He thanked the Convention for tho
courtces extended spoke OF the kindly feeling that
existed now between the United States and England
in comparison to what 100 ago. and As all
their interests lay together on Of common
lineage literature and language he felt confident that
the good relations would always continue to exist.
Tho report OF the committee credentials read
and adopted. The same committee reported that the
Boston Produce Exchange and the Wilmington Board
OF Trade had withdrawn from the organization. Ar. /,
John f. Henry read report OF the delegates from the
National Board OF Trade OF the United States to the
Dominion Board OF rrade OF Canada The report
stated that q resolution offered by Mr. Adam
Brown. OF Hamilton, praying that the Canadian gov
crnmcnt be mcmorialzcd 10 restore the ten por cent
dincrentia duty tea and coffee imported from the
United States and after prolonged and exciting debate
this resolution passed by vote of 20 yeas 10 II
nays: that the Hon. John Young introduced resolution
Of great importance reference tho Of
por,aton and tho enlargement OF canals which elected
very general expression OF opinion from tho delegated
favorable increased facilities for International
traffic. In which tho United States delegates partic-
pated by invitation, and tho resolutions were unani-
mously adopted that resolutions offered by Mr..
Adam Brown OF Hamilton to memorabilia the Canadas
Parliament impose reciprocal dut,cs'' competi,
tive merchandise coming into Canada from the Unted
States These resolutions evoked spirited discus-
sion, and were finally passed with few unimportant
amendments.
Thanks were returned TO the Dominion Board Of
Trade for extended by them TO the
delegates and also to the Honorable the Premier o.
Canada for the hospitabe reception accorded by him t.
tho delegates to tho Convention, aud particularly "a
OF Canada and his ostImable lady tho Countess Of
Duierin, for the magnificent entertainment gwen BY
tnem, TO which the delegates were cordially invited
SEARCHING FINANCIAL. RESOLUTIONS.
Mr.. Noursc, OF Boston, asked for suspension Of
tho rules Tor the purpose Of presenting memorial 70
be taken INTO consideration by the Executive Council
effect that Congress requested to pass law
against silver coin being legal tender for thun
S.. II Is AS follows
Whereas arrived which the necessity or
the hour demands tina. the Treasury % the nation be made
our management taken out q politics As ass
may be consistent With the established principles upon
sls ind,ss,is FINANCIAL prasps,y Is Al s tines sub
S q Ss e
20 sss s.s
tile and mssut.snrng inserssts Of the country =. se
- '"s es''s ~
The resolution vas referred
AmExpxEsrs 70 rHs CONSTITUTION
Mr.. r 4. Price, OF Scranton, offered the following
resolution which was also rcierred:-
Resolved That The National hoard Trade by its own
congress % to Ss ps
isrcwins s@e"i@snssso the constitution Of the usssd
sror'os The financial management OF the United
States shall he vested Ia board and In such In
easo :"n - ~ :, ~ rom ,'ms ~ lime oIGin
erIor shall hold their os. during good S%Sssls
prrsa,ian which shall be diminished dnag their
SIC. a-Ths financial manss emsnt shall extend to all
ease. Of the e.ee,on :. ,sysnas the disbursement Of
Treasury every department tho Ensseia
:ss %.as or sh
shall be made, under their authority
Mr. ConkliBg, OF New York, offered resolution in
vtng the representatives Of tho Board or Trade ana
Commerce OF North and South America TO BE- present
at our Congress to Le held ~ ths city -
ing the nnanc al interests OF the world. Referred v
tho Executive Council.
Mr.. l. D. Hayes then took tho floor and kept Il foe
half hour He rcas elaborate and exhaustive re-
view or tho commercial interests OF nation. His
address rcplcto with facts and Ggurea n.
Iating 10 the railroad Telegraph and tSauspor.
panes OF the country aud considered' un-
der tho circumstances as to The manor ~ which COM
mercal matters were msmanxgcd by the Treasury
Department or tho United States, that ssNatsonsl'
Department Of Commerce should DO established Tina
Department Of Commerce should be extended nveP
the bureau oil Agriculture and embrace statistics
from all that goes 10 make up the general business Of
Mr. Howe, OF Chicago. thought that the establlsh-
Ing of such department would tend 70 increase the
great cy q the 1 T y ,ns' q 9e nos
marks en- the Same subject, and said that he ha(
studied the subject long aud thoroughly and
WINGED that the Treasury Department Of the untss
States overaden with business not Iegltimatcil
connected win IT, Nc wus iu favor OF tho establish
men. o. Department OF Commerce. the chief Of which
The following resolution, offered BY Mr. wcshsrii,
WAS then Adopted
asnin renew their efforts tho passage of bl
Grating sysrs q , raas and soamsrss and .Ls
until ull shall have been secrsd aud
tanning trade shall have bsea permanently sstsssheS
sotxp FINANCIAL RAsIs WANTED
The next subject Of discussion was tho National
IL reads as follows
Resolved That the National BOARD Of Trade reaarms en-
the financial and wospersy q ~, sns",sv
utterly nccmpatihlc with the employment Of
remedy for existing distress depresssa and
DO found In the restoration just sound
standard ~ value
Resolved That the .avns.on bu-ns.. and .u
abundance Of idle capital. which necr..srv
results 81 nhsson and ending collapse
furnish favorable opportunity replacing the me-
cunsry transactions Of the people cn sound basis ~
Withdrawing ron circulation tho I~va
tender notes which be maintained Oh mar with
coin and We call earnestly upon Congress u ths
United St1tcs delay necessary stems tn
funding otherwise redesn and csncelng these nses
until those which remain IN circulation shall be pa
with coin. -
Mr. Crubb, OF Philadelphia, read long address A.
yoring the resolution. reviewing the manner In wScn
he banking business Of tho country administered
and calling FOR Immediate reIcrm On HARD money