The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1885-01-31
COMMERCIAL MEN.
They Tackle a Number of
Measures,
AND THEN ADJOURN SINE DIE.
Their Deliberations viii No Doubt
Result in Working
Reforms.
National Board of Trade.

WASHINGTON, January 80. = When
the National Board of Trade resumed
its session to-day. A proposition from
the Portland, Oregon, board OF trade,
reciting the necessity for the improve
ment of the Columbia, was taken up,
and Senator Dolph offered the follow
ing:
ResoIUedy That the necessities of com
merce demands the speedy removal of
the distractions in the Columbia River
and we recommend to Congress that
sufficient appropriations be made to
secure the completion of the improve
ments already commenced upon the
river and bar at the earliest practicable
time, consistent with the economical
Senator Dolph proceeded to set forth
the Importance OF the proposed improve
ments TO northwest The improve
ment OF the Columbia River should
not be charged to Oregon, it
was not local project, but
a plan for rendering navigable
a river that drained 100000 square
miles. The valuable products exported
from the valley aggregated $15, $40, 900
last year. Mr.. Durham seconded the
resolutions. He said it would be we'll if
the board could convince members Of
Congress that the people were not in
sympathy with their ideas of economy
People were not so solicitous in regard
to this question OF money. We hear
great deal about the rate of taxation
, being too high and that it should be re-
duced. He did not believe in reducing
taxation to such an extent that it would
: run into niggardly economy. He did
Q not believe in extravaganza, as he did
not believe in appropriations of money
p where there was no necessity for it, or
1 where it might be wasted in an extrava-
CANT way, He did believe the interests of
n this country and the people de-
p manded the cheapening of transporta-
3 ton rates and internal Improvements.
Economy was a good thing in its way,
q but niggardly economy was dangerous
n 10 the interest of the country The re-
: solution was unanimously agreed to.
s A proposition presented by the Chicago
i board of trade, touching foreign dis
n elimination against American pork,
was temporarily laid aside in order that
all Cincinnati members of the board
o could be present during its discussion.
I The National Bank act was the next
subject discussed and the following re-
solutions were adopted:
RESOLVED, That the executive council
V spectfully memorable the banking and
) currency committee of the House of
Representatives to carefully consider
{ the propriety of so revising or amending
8 the national bank act as to make the
9 primitive features of the law more eff
:, ticient, especially the limit therein ex-
pressed of ioaning money, not il excess
. of one-tenth of the capital of the bank
{ to any one corporation or individual.
;, Resolued-That the Executive Council
j be requested to memorabilia Congress TO
: so amend section 500 of the Revised
Statutes, relating TO national banks, as 10
!, render the sections prohibiting the certi-
! ficatlon of checks, where no funds are on
! deposit to meet the same, more effective
in the method OF enforcing the penalty
- for violation of the same, so that the
penalty will be rigidlY and strictly en-
!, forced.
e The President called up the following
. propositions: First that submitted by
! the New York chamber of commerce
II and the second by the Philadelphia
= board of trade.
y First-It is the opinion of this cham
. Der that Congress should at once pass
- an act to suspend the coinage of the
standard silver dollar.
a Second-ReSolrcd, That the continued
io silver threatens permanent depression
u to our national standard OF value for
,, which reason Congress is respectfully
nc urged to repeal the law making such
ie coinage compulsory.
There was pause in the proceeding!
III for few moments. which was broken
n by Henry, of New York, who said: ~
e see nobody is willing to father that bill
l wish to leave silver and gold at one
and l move to lay the resolutions or
the table,
Y Henry immediately objected, an,
made an animated attack upon the sill
or reference with the silver coinage. HI
b, should not wonder if it appeared that Ger
TT. tain banks in New York were at tn
bottom of this movement, and one o
p their means was to threaten panic
the use of silver were persisted in. Th
matter should be left entirely to Con
gress, and this board should not alarm
the country by dabbling in it.
he Thurber offered the following as
n substitute for the resolutions under dis
us CUSTOM
VI "ResOlred, That the suspension OF tn
IA IA coinage of silver may become desirable
~. nc and that the Secretary OF the Treasur
re- should be empowered to suspend TIA
Pu1SAlooS VI ch'SA
and the coinage thereof, and, furthe,
that the Treasury of the United State
should be empowered to receive silve
H. bullion on deposit, and issue certificate
y of convenient denominations represen
rts ing the same"
ne Buchanan said he did not believe
.ck lodging power of the kind proposed
he the hands of any Secretary of ii
ng Treasury, especially at this time, whe
that official is TO be changed and Il
country is all at sea as to who the ne
official will be. He proposed to amer
the proposition of the Philadelph
his Board OF Trade, so as to make it Tea
ar that in addition to the repeal of the la
% making such coinage compulsor
- Congress should also provide for Il
coinage of silver dollars of substantial
gold value.
The proposition submitted /
for Buchanan was lost, without diyisio
eSs and the Thurber substitute was vot,
down in the same way, after which, Il