Evening star., 1897-01-26
MEN OF PROMINENCE
Twenty-SeVehth Session Of the Ma
tional Boardfof Trade Begins.
SUBJECTS TO BE CONSIDERED
AStrong Resolution Adopted Com
mending the Arbitration Treaty.
PROGRAM OF THE MEETING

L T. Il
Representative business men from all
over the country crowded the lobby of the
Shoreham this morning, and for the time
being a commercial atmosphere displaced
the political ether that usually pervades
local hotel Hobbies at this season of the
year. The gathering was occasioned by the
twenty-seventh annual session of the ma
tional board of trade, which began at noon
In the banqueting hall of the Shoreham,
ard represented delegates from almost
every one of the forty-one organizations,
including boards of trade, chambers of
commerce, merchants and produce ex-
changes and similar bodies. which are mem
bers of the central association. The meet
ing was called to order in the absence of
the venerable president, Mr.. Frederick Fra
ley. who was unable to attend because of
the illness of his wife, by Mr.. William r.
Tucker. the secretary and treasurer.
Among the Eell-known gentlemen pres
ent were G. Waldo Smith and Francis r.
Thurber of New York, Edward II. Haskell
Jonathan Lane. Alden Speare. w: b. rice
and T. r. Leeson of Boston, H. F. Dons-
man, R. 7. Lyon, c. B. Congdon, II. A.
Parsons and George F. Stone of Chicago,
n. b. Kirg, Henry A. Fry, Edward B.
Wood and 7. C. Kueneff of Philadelphia:
HI. II. Poppleton and H. A. Sherwin of
Cleveland, II. c. Haarstck, E. o. Stanard.
Charles Parsons and George H. Morgan of
St, Louis. Josiah Marble and A. S. Reed of
Wilmington Del, and many others.
A meeting of the executive committee
held previous TO the opening of the
regular session, at which the credentials of
delegates were examined and approved
The program of subjects to be acted upon
a. the present session embraces sIxty-nine
resolutions and recommendations relating
to all questions now agitating the business,
commercial ard financial circles of the
country, including especial reference to the
banking and bankruptcy laws and report is
of committees to which subjects were re-
ferred at the last meeting on the subject
of the consular service and the necessity
of Uniform legislation among the states on
matters pertaining to domestic conditions,
including divorce laws, and harmony in
measures relating to business and financial
rules.
Some Resolutions.
The Baltimore chamber of commerce has
presented for action resolution that the
banking business of the country is not a
government function, but that the volume
of money in circulation should adapt itself
TO the ever fluctuating needs of commerce
and daily life and the private means of in
dependent agents, such as banks. should be
devoted to the special business of providing
adequate resources for the varying wants
OF the community by a fair and unrestrict-
ed resort to the markets of the world
drawing money from the cheapest market
ana dlspersing an oversupply when neces-
sdry. The resolution also declares it dam
SerouS and expensive to use the credit Of
the government by selling bonds in order to
feileNe the money market when private en-
terprise could easily procure the necessary
remedy. and that private responsibility
should take the place of pubic irresponsi-
nlllty IN handling money matters.
h
Joint resolution by Congress providing for
the appointment of an international mon
etary commission and the Cincinnati cham
Der sof commerce proposes that Congress
retire the greenbacks by demonetizing
them by series of numbers, reduce the tax
on national bank circulating notes to one
half of one per cent per year and to give
the banks permission to circulate notes to
the par value of their security bonds and
create national clearing house for banks.
Ihe same body suggests the adoption of a
common money unit, and urges that gold
standard countries be invited to adopt such
a unit The Boston Merchants Associa-
lon recommends uniform state insolyent
laws, and the Philadelphia board of trade
a national bankruptcy law. The Trades
League of Philadelphia urges liberal appro-
prlations Tor internal waterways and
coast defenses and there are many recon-
mendations for national action on the i'm
provement of the Mississippi river and in
relation to the Nicaragua canal. Chicago
cincinnati, Philadelphia and St.Louis bodies
urge the establishment of a department of
commerce and manufactures
There are numerous resolutions relating
to immigration, the trade mark laws re-
duction of postal rates, while the tariff and
revenue problems are presented by a score
of organizations with suggestions of a re-
medal nature.
The sessions will continue for several
days.
Business at the First Sessfon.
The first session was presided over by
Ex-Governor Stanard of ST. Louis, devoted
largely TO arranging the order in which the
subjects to be considered by the body
should be taken up. On motion of G. Wal
DO Smith the various resolutions and sug-
gestions presented by different members
and relating to the same subject were
grouped in divisions and referred to special
committees for consideration and report.
By this system all matters relating TO
banking and currency, the tariff, reciprocal
trade rela tions, the necessity of a depart
ment of commerce and manufacture, the
Nicaraguan canal, improvement of internal
waterways, bankruptcy laws, uniform leg
islation by states, postal laws, and SO forth,
were referred to appropriate committees,
which were to be appointed by nominate
from the various bodies represented in the
meeting this afternoon and instructed to
make their reports at the session tomorrow
morning. The election of officers which
will be held before adjournment, will re-
suit in the reelection of Frederick Fraley,
president. and w. r. Tucker, secretary and
treasurer.
Approved the Arbitration Treaty.
The only other business transacted at the
first session was the passage Of a resolu-
ticn reciting that the national board Of
trade regarded the pending treaty Of ar
b.tration as unsurpassed in Importance by
any International negotiation in the his
tory of civilization. and. If consummated,
rot only would peace, with its richest har-
vest, bless the land, but it's benign influence
extend to all nations. The resolution
closed with an appeal to the Senate to ap-
prove the treaty.
Thirty-four policemen are on the sick list.
number Of them suffering attacks of the
grip. Lieut.. Amiss. who has been I'll with
the grip, expects to return to duty this
week. Sergeant w. w. Perry, who has
been sick for several weeks, was on duty
again last night.