The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-11-18

AT its meeting at noon yesterday the
Scranton board of trade adopted the
following resolutions, introduced by
Colonel +. l.. Hitchcock for considera
tion of the National Board of Trade,
which meets in Washington, ID. c.,
Tuesday, Jan. 13:
Tirst-Resolved, that the National
Board of Trade again urges upon the
congress, as an efficient means of pro-
noting, extending and safeguarding our
commercial and industrial interests, the
necessity of creating an additional cXecu-
tive department of the government, to be
styled the department of commerce and
industries.
Board that the congress be requested to
amend the postal laws: First-So as to
provide Immediately FOR one-cent local
letter postage, and, as soon as practical
bic, for the same general letter rate.
Second-To correct existing abuses in the
use of the mail. for transportation of
matter, so that all classes of matter shall
pay their Just cost of transportation, and
thus avoid existing losses in such SER
vice.
Third-Resolvcd. first, that the con-
gress be requested to take up the subject
of Interstate corporation control, and,
If practicable, enact such laws as will
prescribe, define and limit the powers and
obligations of all corporations doing an
Interstate business, to the end that all
such corporations shall be placed on the
same footing with reference to such pow
ers and obligations: and in the exercise
and enjoyment of the same shall be UNI
der proper national supervision and con-
troll. Second-If the congress should be
of opinion that under the Constitution it
does not possess the power to so legis-
late, then 1t be requested to prepare and
submit to the several states for ratif-
cation. a constitutional amendment con-
ferring upon congress the power to grant
corporate charters, for Interstate and In
ter-national purposes; and to regulate,
limit and control existing corporations
doing an Interstate or international
business.
Fourth--Resolved, that the congress be
urged to so amend the national bank
ing laws as to permit national banks, in
times of emergency or in anticipation OF
special stringency in the money mar
ket, to issue an emergency currency. in
volume. together with existing issues,
equal to their capital stock, or any por-
ton thereof. based upon assets, the ma
ture of the securities to be approved by
congress and the comptroller of the cur
rency; such currency to be retired at the
option of said banks, and again reissued
under like conditions, as often as may be
desired. Such emergency currency to be
taxed one per cent. per annum for such
time as the same shall remain in circu-
lation.
Resolution Changed.
The fourth resolution, as presented
provided that the comptroller of the
currency should be the judge of the
worth of the assets on which the emer-
gency currency should be based. j.
A. Lansing and 7. II. Dale thought
this was putting too much power in
the hands of any man and that it would
be a very dangerous thing to do as
the currency system of the country is
at best a delicate thing to approach
with the idea of changing.
Both agreed with Colonel Hitchcock
that the country's currency at present
lacks the elasticity necessary to tide
the business of the country safely over
periods of stringency which come at
intervals. II was agreed to amend the
resolution by providing that congress
be the judge of the nature of the as
sets on which emergency currency can
be issued.
Colonel F. l.. Hitchcock, Luther Kel-
ler and Secretary c. S. Seamans We're
meeting and j. A. Lansing and ID. b.
Atherton and f. b. Sturges, alternates.
George Wahl, Fl. A. Pierce, J. w.
Browning and Sam Fl. Frank We're
elected members, and William r. Will
lams, Harry w. King, George b. Mil
lar NJ. H. Griffin and William Conrad
proposed for membership. They will be
voted upon at the next meeting.
No Banquet in January.
1t was decided not to have the annu-
al banquet in January, the secretary
giving it as his opinion that the money
could be expended to better advantage
in the way of inducing new industries
to come here.
A verbal report was presented by
the manufacturers committee to the
effect that several industries are being
negotiated with and that the prospect
of securing them is good.
Pay your poor tax to avoid costs.
~ II. q. Dale, Collector.