New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-05-02
THE CHAMBER OF COMMERCE..
IT'S TWENTY. FOURTH ANNUAL REPORT.
WHAT HAS BEEN DONE IN THE LAST YEAR-ACrIv

The tWenty-fOurth annual report OF tnc tHdnDcr
Of Commerce recently compiled by Secretary Will
SON. and issued yesterday is divided INTO two parts
The first records in detail the action of the Chamber
upon the various subjects which have been brought
before it, and the second gives the movement III
each of the higher branches of commerce OF the
country. The report says:
tits apparent TO the close observer that the United
States is entering upon critical period OF It's progress
when economic and financial questions require mosI
careful examination Our report for 1875 noted the
development If commerce consequent on the resunp-
of specie payments aud the demand for our pro
ducts: our as that Of sSOs1 the continuation on an
increasing scale. OF this rapid movement perusal OF
the present report will show that there Is now pause
in this mary elious progress which apparently I'M
settling the relations OF the commercial world Inc con-
nued flow t. The United states OF the precious metals,
brought on a financial crisis in Europe, with
Of expansion in the United states based
upon this large addition, Of me pre- Gf
the couptry seems to have been reaC he'd. slight
Of these metals 10 Europe creates alarm and dlsrus
There no real for such alarm The fact seems to
be the United States iii its great commercial ana
individual activity has grown up 10 the u measure OF
win henceIorih be immediaeIy fe-in a word that the
country has at last otter twenty years o. hnancai
autonomy, resumed her place among financial nations.
HcnceiOrward the movement OF com wll be 70 her as
before the civil war, financial barometer Erroneous
ideas finance give place to the sound principles
of fathers and Ecnceiorth submit to the neY
law OF adc These questions nave always Dcen nelu III
view IN our reports, and are now AGAIN IuiV COLI
sdered.
After speaking of the assassination of President
Garfield the action of the Chamber at he visit OF
the French and German guests last fall and the
tariff reform measures, attention Is directed to me
report of the Council of the Nautical School, winch
calls attention 10 the value OF the training system
and AYERS that the decline of the American merchant
marine makes this question pertinent. 1t is added
that in 1860 American vessels carried over 90 per
cent OF the foreign trade, imports and exports In
1870 the ratio had fallen to 30 per cent; IN lSSO 10
II per cent. The committee appointed by the
Chamber to investigate tins subject ana to suggest
remedies for Congressional action made these
recommendations:
The repeal Of the law requiring three months pay to
ch.pfr in fnr1
the requiring transportation Of wrecked sailors
the conforming of our law OF measurement 10 maj III
general by other nations; Uniform law as 10 me-
apparatus Tor our own ana foreign vessels com
ing ports; remuneration for postal service on
TIE principle value OF service rendered an exemption
snip property engaged in foreign trade from all taxes,
UniIed states state and municipal e, al limitation OF
Individual liability of shpowuers to their Of
ownership the abolition OF all fees TO C0nfuis Tor ser
vices TO vessels: The establishment of United States
bonded warehouses from which vessels may withdraw
merchandise OF foreign production free OF duty; mat
all foreign materials entering mo Ine oI
vessels he made duty free The report and recommends
lions were adopted There IL reason 10 nope nt puDo
opinion will now, i'll accordance WIN the spirit O our
time, demand an abolition o1 tax restriction upon pus
enterprises
After stating that IT is intended TO have Wash
ingtOn Monument completed i'll time for the CEN
tenmal celebration Of the eyacuato on OF the ety Gy
the British army, on the 10Th OF November, 1893,
the report continues III substance:
There was a large increase FIT the consumption of
sugar the last year. the amount consumed beng 9SO0O
tons the 1881 being "a 900 tons. There
was decline in the nolasses trade the deliveries OF all
kinds for the year were smaller man. wa one e1Hcp
been the adueration ana nlla'lgn OF pure moiaSscS,
that the retail price has scarcely been DISTURBED, ana
The consumption OF coffee the total distribution from
hands being the largest ever known Ill the history
of the trade in the United States. the total cOnsunp-
ton United States for the year was $4,000 TONS
There was an activity III the tea trade. The to-
hacco trade also good The amount OF domestic
tobacco shipped from New-York to foreign ports III
1851 was 3,5Oo,Ooo pounds y, nluon Oh -, %nicn
In transitu IRON Virginia lie number OF eigaIs
The wife and spirit shared in the general pros
Pccufrences' The consumption OF champagne UNI
examped in the history OF The lrade, the NUMBER "I
deaux wines was 10000 gallons i'll wood ana 10000
cases-.n unusual nportaon OF Cetie wines, 462'OOo
gallons against $4,000 1850 OF snerry, 9OJ,OOO gal
Ions in wood against 6400OO gallons IN Wood n loeO
Of port, $1,000 gallons against do d9iUVo caucus odn
cases against 600 gallons and $4,000 cases Ill 1850
e toI rea Tio the por Of were Val ued at
$4,000 900. The home manufacture is advancing OH an
in 1881 Fetching gallons
an Increase of 100000 gallons over the year.
OF wne California sent TO New Grk ia ISL Z,1VOOoO
gallons against 2,OO0UOO gallons IN 1850 Inc production
Of cotton continues TO increase Inc crop o. INC o
States for the year ending september l. ISL
65s9,3Z9 baes, being an increase OF more ta $4,000
bsles over that Of the previous year. and 1,JOO,OOO
bales over that of 1879 The trade IN gin -FOUR prOVs
ion aud petroleum unprecedented
In report the extent OF the balance OF trade or
the excess OF e aggregate value OF exports
mercnaudise for the three calendar years 70 ISl9
the balance 1851 Sl633 900. and the balance OF
trade favor of the United states i9g De ionr ye1Ts
seen therefore, that the excess Of exports over Imports
continued without interruption until the close Oi the
wear 1881 and thai there real cause for tine |
alarm which lately OCcasOned ny sudden scdicly
Of conmercia bills and consequent mOuerate shipments
of coin As our indebtedness abroad gradually qui
dated com continue hereafter TO snow more and
more sensitveness and move between tue TWO cohtl
ncnts to provide the medium OF exchange o
snce the suspension Of the banks of the United states
In 1861 the study OF the movement OF the Precious
metals has been reegatrd specialists and theoretical
hnancers But tne precious metals are III realiy u
the base Of all commercial ana nnahcal TRANSACTIONS
and govern real value OF everything known III human
economy has only been question OF time as 10 wheh
they should again force themselves upon pup'c atten
ton. and resume their recognized place as le STANDARD
values An arrest III the supply VI lneIcnahGse OF
exI ortape value, and dsucnatiOn, III the face OF
financial distress In Europe, 10 accede To Inc hgh de-
mauds placed upon tue remaining STOCKS Oh produce IN
American hands, exhausted the eoi9 s Dtls
in the hands OF our foreign bankers anu Tor moment
threatened OF specie To Europea return which,
If limited to moderate amounts there really no reason
TO regret.
the prlIcipal countries of the world at: gold, !
50 22i 100000 silver, $2,53s,O000OO; total specie |
50 OF paper, $ GA 900 OUO and the total
Circulation, including the amount held III Government
treasures. banks and III active circulation at |
lac in gold and silver during hnd the fiscal year
ending June 80 1881, was Sl5346o AZ, ana inc ~
s49s 1856 $40 The stock of gold and silver Ill the cOun
1873 10 1881 Inclusive, i92,9O6,32l; imports of coin
for the same period 1853 1885, 500; exports Of coin Tor
tie same time, 1856 us ,3s9; amount OF coin the
country on June 80. 1881 S625,9sl,I7l. Inc manner
which this sum is distributed is as follows Ia United
treasury. December 81, 1851, Slo63O9J34 hcd
by National banks, $ll36sO,039 outside holdings, !
S1I444s,3s9 Tue amount Of COLA and silver held
by tue principal banks III EurOle, III November, 1850,
was: Bank of France, 1860 10000 Bank OF England,
1872 100000; Imperial Bank OF Germany, $50, OOO
Netherlands Bank, SOS, 100000; NauOnu Bank of Bel
gum $50 900; hungarian Bank 80, 100000
Bank OF Russia, lO97Oo,OO0; Bank OF spain, |
81 100000; Italian BANK OF Emission, ~, l23,OUo;
Nationa Bank OF Italy $l6,745O0O; swiss COncordat
Banks IS lJG,OOO; Total, s99O,45O0CO. Referring 10
OF the Controller OF the Currency showing
the condition National banks the report says II
affords not the least excuse alarm AS to the condition
business The country Indeed the Increase Oh
coin circulation during the Ould have warranted
much greater 1pausIOn than now appears.
Finally the report refers TO the centennial cell !
ebration of the evacuation Oi the city November
20 1888, and says:
,,iI .o,no d,,,v 90 ii. IN os.u,no 1ood