The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-17
OUR COMMERCE.

or coMMERcE-HoPEFUL OUTLOOK FOR THE
FUTuRE-AN ERA OF NATIONAL PROSPERITY
| PREDICTED.
| The twentieth annual report Of the Chamber OF
| Commerce of The State OF New York has just been
/ published and submitted to its members. II is an
elaborate exhaustive document. embrac within
lis scope every important subject connected with tho
advancement of commercial Interests, both national
aud local, that has occupied less OF pubic at.
tention during tho past year. Commencing With
brief allusion TO tho history Of the Chamber from
the colonial days 10 the present time. 1t pro-
ceeds set forth that "rhe services OF
tho committee OF tho Chamber have been
heavily taxed during the past year IN tho
consideration OF variety Of subjects Of the gravest
public concern. The most important among these
the money question In its different aspects-the
intrinsic value OF coinage, the relations OF gold aud
silver each other OF both TO the paper issues oil tho
country. and OF tho paper to each other--a
strange completely in subject which requires the
greatest simplicity, caused by special legislation re-
CURED by cxigencies Of tho lato war; or forced
upon the country by particular interests Ater advert
ing TO tho action OF the "Monotary Committee' app
pointed by Congress OF tho year previous 10 con-
slider the tho depression In the value Of Sill
yer and the subsequent introduction and passage,
the Presidents veto, OF the "Band Silver bin,
which thereby became law OF tho land, the report
says
Its immediate effects have not been disastrous was
feared because OF the small amount when !. nas eeen
to all experienee II It be not found an uncertain
serious effort to force acceptance Of silver in largo
prgs debts, yin rs II. he
community. and the law viii fall OF its own weight
Touching tho master Of privateerins the report
says
Among subjects considered that Of maritime
time which submitted w Mr. Rug les,
in une year. in letter of the Golden Ciuo ad-
sers 70 Of s sna: od y ana 0a u
with request that the Chamber wonld asan con
heson Of Uuited state, 70 the principles o. The Dselara
letter the Secretary Of state q the United states
ao e ns Ss has q Sse
free ships msss fs Sood s1 @ ~ a,Sdea
any discussion OF the subject At tho time
| rue BANKRUPT LAW.
Having pointed out the numerous Efforts that have
boon made in Congress- during tho past few years 10
obtain tho repeal OF tho Bankrupt law, and their sue
cess ~ resistance ana deiea, oy inc active n.erpos
chambers Of commerce anc boards OF trade OF all the
seaboard cities, and by the National Board OF TRADE,
| tho report continues
In October last communication received from tho
Board Of Trade requesting the Chamber to
cred memorial adopted protesting against It's total
but s ns % o. It's
fects and to recommend amendments
on the subjcc, or reform the report states
that sslrom It's earliest days tho Chamber been
the answering advocate OF ireo trade or u purely
| tariH.'
| In the matter OF steamship subsidies and the de-
cline Of our mercantile marine u states:-
Whatever differences Of opinion there be and such
sabsides, there seems to objection
such aid by postal will enable
merchants to secure steam communication to Central
| aud South America
TERMINAL FACILITIES
In The matters railroad transportation and ter
| minal facilities The report sci forth that
Early the present the whole question Of railroad
the request nearly hundred firms. representing tho
"a which hold he New
York Legislature have the right TO levy rates which dis
~ 81 oh .e ''0 Guy o oA
The result Of this meeting that 1t finally
agreed that the Legislature be pottonod 10 appoint
| comm ission inquire into what legislation
| cssary to protect and extend the commerce OF tho
State. This az iced to, and soon after concur
| rent resolution Introduced In the Senate
| scmby for tho appointment OF such commission
with power TO take testimony throughout the Stale.
| This resolution IL now pending.
The report alludes TO the work OF death among tile
momDers and honarary members OF .ne chamber
to the memories OF Mathew Maury Moses H. Grinneil,
James Brown, George ", Blunt Charles Il Rabsrg,
Ewood Walter and Townsend Harris, the late Minister
| to japan, who was elected IN honorary member be-
cause his cminont services to commerce whilc In
that diplomatic position
On tho subject OF foreign trade and the regular
nua reports upon the various branches OF commerce
the report says:Taking these authority II viii
iound upon analysis Of them, that the markets Tor
the chief foreign staples havo been active, with
portat.ons and sales tor consumption generally IN
cess OF last year"
With regard to immig II forth that the dc.
In the numbers OF Immigrants arriving at this
port siill scale OF increasing rapid
y. From 81 500 IN 1915 It fell In 1876 10 II. 265 and
last year dropped o. $3.50 OF these It IS noticeable
that one-third were Germans The effect upon tho
passenger carrying trade has been, OF course disas
rous aud also repeat observation OF last year.
that this decrease has been chief oil the de-
preston local trade and the fall in property values
IN this city.
The report further that the record OF
actions the Clearing House also shows marked in
crease when compared with the preceding year. IL
shows tho production, estimated by the deposits
and purchases the Mint, for the year ending June
~. 1917, 10 have been. $50 533, Ub4
Imports during tho same pcriod........ A. ,IH
lOtai SlZl,oUl
Exports and reexpOrts during the same Pc
rod deducted. 81 49, 37
Increase in fiscal year ending June CO.
lS77.... S65 1G5, z3l
FEELINGS or SECURITY.
Alter pointing out tho Importance OF these figures,
showing, as they do, that the balance OF trade
largely 10 our favor durisg the official year when
closed June 80 1917, ana that the record OF New
York imports and exports shows that TINS balance
not disturbed uuring tho last half of the year,
the report concludes AS ollows.-
To these happy be ascbed the feeling
NJ harry nies