New-York tribune., 1876-02-04
,est mode OF
COMMERCIAL INTERESTS.

MEETING OF THE CHAMBER OF COMMERCE-THK
PROPOSED MONETARY UNIr-rPADE WITH CUBA
THE SHIPPING LAw-TRUsIEEs OF sAVINGs
BANKS.
At the monthly meeting of the Chamber OF
Commerce yesterday. b. Ruggles, referring to the bill
Introduced in the United States Senate by Senator sher
man 10 establish a monetary unit between this country
and Great Britain, said that Senator Sherman had writ
ten to him that the proposed dollar contains
twenty-five and sxtenhs grams pure gold, or onedfth
Of intrinsic value Of one pound sterling" Mr. Ruggles
offered resolution, which adopted, "that 1t be re-
ferred TO specia committee consisting OF hve members
of which the President of the Chamber and his two pre-
deoessors in office shall be members, With power IN in
crease their number seven consider the proposition
pending in the Senate Of the United States In respect to
gold unit and any other questions affecting the Id
coinage OF the United states" Mr. Rugges and James
H. Brown we're placed on this committee.
Charles WatrOus Chairman Of the special committee
appointed TO take into consideration the question Of the
effect upon American commerce of further cOntnu-
Of the war in Cuba, made report After glvng
statistics of the trade between this country and Cuos
since 1861 and Of the variations In the price OF sugar
since that time and stating that the balance OF ade
was very largely against this country the report sad:
The cost of sugar delivered board Of vessels ~ the
various ports of Cuba peen considerably enhanced
by reason extraordinary local taxation lhe cost was
about Be- per pound the cost OF delivering 70 vessels
Including all charges, y cent per pound NOW, WIN
the charges be re reached tine shipper amount to II 90
per 100 pounds an increase IN round n3nDels oi one
our imports Of 100000 TONS the ADVANCED cost TO us
ton we can obtain the planter is impoverished even at
this price aud in the opinion OF some OF our largest I'M
porer further advance Will soon be necessary IN or
der hat the plantations may be carried on sh further
adding TO the cOst to us ~ ,
Regarding the production Of the island. while the
amount isugarreeeived IN TINS country or the past lee
four years would seem to indicate an increased produc
can obtain there is doubtless a considerable decrease.
The apparent inconsistency between increased receipts
~ .VI lnfffp n
De accounted Or by the fact that have lately pur-
chased nearly the entire production while IN former
years Europe large customer, which HLe has ceased
to be. owing 10 the increased production OF beet root
sugar the enhanced cost Of Cuba sugar The exports
OF Cuban produce are now about ar follows: tDicd
states s. per cent; Spain per cent all other coun-
tries per and set determinations IN favor OF the
Spanish Nag prev from supplying lLe island with
hut a modcae portion OF the produce neetcd for con
sumption there Thus IN the year 1874 there
eeved in the island 391 900 barrels Of four of which the
United States furnished but $4,000 and of many other
kinds produce which in tue natural course OF trade we
should supply the proportion OF amounts furnished was
but little greater than that Of -four. The committee are
divided IN opinion TO the conclusions to be derived
from the foregoing aud therefore, submit the facts as
certained without ieeomI4 4ndauOn.
F. b. Thurbey offered resolutions that legislation tend
Ing TO remove from the supervision OF the chipping law OF
1872 any sailing to foreign ports would be In
furious that United states courts not the Treasury
Department should control the administration OF the
Shipping law and that Commissioner Duncan should be
sustained and encouraged in the discharge OF hs duties
They were referred 10 the Committee on Foreign Com
merce.
Mr Dodge. Mr. Rugeles, and others expressed oppre-
hensous in regard to the pending h In the Legislature
making the trustees of savings banks personally liable
for deposits saying that the result Of ts adoption would
be the resignation Of al responsible men in those posi-
tons Mr. Ruggles offered the following resolutions,
which adopted unanimously:
Resolred, That in the good Judgment Of this Chamber
the passage OF the bill now pending III the Leflsdtuie
making the trustees OF SAVINGS banks Of the state per
tOnally liable the debts OF sd banks Is IN the highest
Te-isnat0n Of trustees ana large withdrawal Of de-
posts from these institutions
ResOued, That a copy OF the above resolution. duly
authenticated hy the officers OF the Chamber, be trans
mitted 10 tne legislature.
Mr. Baker said that attention should be given TO the
export trade Of this port saying that the exports OF corn
from Baltimore largely in Of those from New
York. The Chamber then adjourned.