The times. [volume] (Richmond, Va.) 1890-1903, 1897-12-16
INSTRUMENTATION
v.nr TO CONGRESS BY THE NA-
TTONAL BOARD or TRADE.
Tho Gold Standard Endorsed as Are Nc
Kiniey's Three Recommendation ~
TO Currency Reform.


The National Board OF Trade resumed It's
sessions this morning.
The first matter TO be considered was
a resolution favoring the establishment
of postal savings banks, which was intro
| duced by the Chicago Board OF TRADE
| After discussing the question IL was re-
ferred 10 a committee TO report AT the
next meeting.
The question OF artificial irrigation was
next introduced, the basis being a reso-
| ton offered by the Pittsburs Chambe' on
| Commerce. I'm which 1t was recommend
ed that Congress enact laws 10 place the
supervising OF all irrigation enterprises
IN the hands OF United States authorizes
whenever such work Is und'''asr1 upon
waterways connected with inter STATE
navigation.
A REMARKABLE STATEMENT.
1t was stated that nearly one nan TINS
country was arid. The problem was 10
store the flood water IN "A chain OF aru-
fetal lakes which would do away with the
danger of floods and also would provide
water for irrigation purposes.
A general discussion followed, during
which II was stated that this was one or
the important questions now before the
country and that the entire problem OF
the Mississippi Valley water supply would
rave to be studied. The resolution was
adopted and a committee appointed to
have charge OF the matter and report at
the next meeting.
a resolution f~avoring the adoption or
| a national trademark law was adopted.
A resolution f~avoring the adoption Of
an American system of naval reserves
presented by the New York Board Of
Trade and Transportation was taken up
and after discussion was adopted.
The Philadelphia growers ard importers
exchange presented a resolution 10 the
effect that in all cases. whether railway
lines telegraph lines, telephone compa-
MES or great commercial trusts or COM
binations. affecting all the States, the
Congress Of the United States shall con-
| troll them and hold them in due subjec-
ton to the laws OF justice and equity.
Mr.. Halpin, OF Philadelphia, said that
he did not suppose there would be any
objection to the resolution as it was in
the interest of the people. The resolu-
ton was recommended TO a special COM
mittec TO report tomorrow.
MIXED FLOUR.
A resolution which elected much dis
cussion was that offered by the Chicago
Board OF Trade favOring legislation Inn
posing a tax upon and regulating the
manufacture and sale OF mixed -four.
The resolution imposes a fine of not less
than $1,000 and not more than 5000 for
selling adulterated hour without the pay
ment of this tax.
A motion TO refer the whole question 10
a committee TO report at a future time
was carried.
MIR. Vance. OF Cincinnati. presented
the report of the Committee on Internal
Waterways. The report recognizes the
broad and comprehensive patriotism
manifested by the last Congress in It's
provision for the improvement or inter-
nal waterways by establishing and recog-
nizing the principle Of contracts Tor such
continuous improvements as may have re-
celved the sanction of the Secretary OF
War and the appreciation OF Congress
The report urges Congress to continue
such legislation and 10 make such APP
propriations as will provide for deepen
ing the channel of the Mississippi river
so that at least six feet be permanently
maintained from the mouth Of the Mis-
souri, southwark; also that the work OF
Improvement Of the j~etties in the South
Pass of the Mississippi after the eXpira-
ton of the Eads contract, two years
hence. be continued until a depth of at
least thirty-two feet IS attained.
Congress was also asked to initiate the
work of improving by the jetty system
or OllclWltt, the OOLllN'nA ass W hhN
Gulf. The report was adopted.
THE CURRENCY.
The afternoon session was chiefly de-
voted 10 currency discussion. The gist
Of the resolutions adopted was an en-
dorsement Of the single gold standayd. |
the gradual retirement Of the United
state notes, the enlargement Of the ma
tional bank circulation, with gradual re-
duction in the tax on the same, and
finally, the establishment Of national
banks with a capital OF $4,000 or over.
in towns of more than two thousand
population.
a motion TO locate a permanent head
quarters for the National Board of Trade
in Washington met with general APP
prevail, but was referred TO a special COM
mittee for final action.
A resolution favOring n permanent |
scientific tariff commission was adopted.
but later reconsiderd, and left open for
discussion tomorrow.
The active prosecution Of the Nicara-
guar Canal project was heartily en-
dorsed.
The committee in charge Of the cur
rency resolution and the bankruptcy bill
called on Speaker Reed tonight to pre-
sent the two measures with the endorse
ment Of the board and learn if possible
what their chances would be before the
House.
Mr.. Reed did not hold out much en-
couragement In the line Of financial legis-
lation. but intimated that there would
be more chance for tho bankruptcy bin
after the holiday recess.
The committee in charge OF the pooling
bill was in session at "A late hour. but
such decided differences had developed
thar there was little hope OF agreement on
cithar qidc of the puoc'frp and the ma i
iority and minority report may be sub
mitted 10 the full board tomorrow.