The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-16
NATIONAL BOARD Of TRADE
TALK ON POSTAL SAVINGS AND
IRRIGATION.
Resolution Adopted Favoring Fed
eral Control of Irrigation Enter
prises In Certain Conditions.

Washington, Dec 15.-The first matter
which came before the National Board of
Trade at it's session today was a resolu-
ton favoring the establishment of postal
savings banks which was introduced by
the Chicago Board of Trade. 1t was stated
in the resolution that the people should
be encouraged to deposit their savings in
a department OF the national government.
The Chicago bill was advocated by Mr..
Lyon, of Chicago, who said that the secret
of saving lies in its beginning. Mr.. Hitch
cock asked if Mr.. Lyon knew what the
government would do with this money.
In reply, Mr.. Lyon said he had not given
this phase of the lsubiect attention. Mr..
Hitchcock wanted to say that it seemed
to him such a system partook of a pater-
nalism that was foreign to other inStitu-
lions and in addition to other objections
which might be enumerated, he said it
would interfere with the business of the
savings banks. Mr.. Hawley said the
same system was in operation in England.
but he understood it was not profitable.
Another objection was that it would
concentrate money in the cities and would
interfere with the business of building
associations. etc. The question was re-
ferred to 4 committee to report at the
next meeting.
IRRIGATION.
The question of artificial irrigation was
next discussed. the basis being a resolu-
ton offered by the Pittsburg Chamber
of Commerce which recommended that
congress enact laws to place the SUPER
vision of all irrigation enterprises in the
hands of the United States authorities
where such work is undertaken upon
waterways affecting interstate navigation.
An address in advocacy of this resolution
was made by Mr.. Andrews of Pittsburg,
who said nearly one-half of the area of
this country was arid.
He said the problem was to store the
food water in a chain of artificial lakes
which would do away with the danger of
floods and also would provide water for
irrigation purposes. A general discussion
this was one of the important questions
now before the country and the entire
Mississippi valley water supply would
have to be studied The resolution was
have charge of matters and report at the
next meeting.
ANTITRUST LAW DEFECTIvE
The Philadelphia Grocers and Export
erS' exchange presented a resolution that
in all cases wherein railroad lines, tele-
graph lines telephone companies or great
commercial strusts or combinations affect
all the states, the congress Of the United
States shall control them.
Mr. Helpin said he had been told that
| the present antitrust law was defective
and would either drive the maker of flour
out of the business or drive him into ne
farious business.
FOR GOLD STANDARD.
The afternoon session was chiefly de-
voted to currency discussion. The gist
| of the resolutions adopted was an en-
dorsement of the single gold standard, the
gradual retirement of the United States
/ notes, the enlargement of the national
! bank circulation, with gradual reduction
/ in the tax on the same, and finally the es-
tablishment of national banks with a
| capital of $4,000 or oy.~r in towns of over
| 1000 population.
SEE SPEAKER REED.
| The committee in charge of the currency
resolution and the bankruptcy bill, called
! two measures with the endorsement of the
! board and learn. if possible, what their
chances would be before the house Mr.
| Reed did not hold out much encourage
ment IL the line of financial legislation
but intimated that there would be more
chance for the bankruptcy bill after the
| holiday