Evening star., 1902-01-23
National Board of Trade Desires the
Standard Perpetuated.
MONEY and BUSINESS CONDITIONS
Washington Selected as the Next
Place of Meeting.
NEW PRESIDENTS ADDRESS

The third and last days session Of the
National Board of Trade was begun this
morning in the banquet hall of the Shore
ham. AS the delegates came together and
met the representatives of the Washington
Board of Trade they spoke of the reception
given by the local body last evening, to
which the members of the national organ
izatiOn were invited and of their enjoy
ment on that occasion and their apprecia-
tion of the courtesy and hospitality dis
played.
As much of the business before the board
was disposed of at the close of the session
yesterday some of the delegates left last
evening and this morning for their homes,
so that the attendance was not as large to-
day as usual. The newly elected president.
Mr.. Blanchard Randall, president of the
chamber of commerce of Baltimore, was
among the early arrivals, and prior to the
assembling of the board held quite a re-
ception. He introduced to the dele
gates whom he had not met and received a
cordial greeting.
The new president is a man of fine pres
ence, and is spoken of by his colleagues as
possessing much executive ability. 1t is
believed that under his administration the
organization will enter upon a new era of
usefulness.
The session was called to order by Mr.
Alden Speare, the temporary chairman
and Mr.. C B. Murray to escort the new
president to the chair Mr.. Randall was
received with hearty demonstration of
applause, and in taking the chair expressed
his appreciation of the honor conferred
upon him by his fellow-members. He felt
that it was the greatest compliment of his
life, and under the under the circumstances
he realized that it would be impossible TO
refuse to serve. The purpose of the del
egates in coming together, he added is to
develop the best interests of trade
he rd iS
truly national there will be no reason for
its existence. He believed that with the
existing feeling of cooperation among the
members this would be attained. He re-
ferred to the high ideals entertained by the
late president of the mission of the board
and expressed confidence that by the
hearty cooperation of the members the
organization could be made what it is in
tended to be-a potent influence.
Commerce and Trade.
The business of the day was then taken
up. and Mr.. Alden Speare presented the re-
port of the committee on commerce and
trade, which pointed out the favorable
prospect of Congress authorizing the or
ganizatiOn of a department of commerce
and industries project which It was
stated the board had advocated for years
past. The bill now pending in Congress
this subject was indorsed The report
was accepted
A report for the committee on the in
j h.
ard Carter of Boston. The Lodge and Bur-
ton bills now pending in Congress were in
dorsed as capable of accomplishing what
the board desired-that is, placing this ser
vice, of so much Importance to the interests
o. commerce and trade, upon a more busi-
ness-like basis Of administration, The re-
port embodied a resolution urging Congress
TO enact at this session legislation on the
lines of the bills referred to- The report
was adopted and the committee was con-
tfnued and instructed to urge this matter
upon the attention of Congress.
Perpetuity of Gold Standard.
Mr. Parsons, for the committee on cur
rency and banking, reported a series of res
olutions which urged upon Congress such
legislation as will insure the perpetuity of
the gold standard; authorizing the Secre-
tary of the Treasury to pay the express
charge both ways on bank notes and to
washington for redemption; amending the
national banking system as to provide
greater elasticity in the volume of currency
TO meet the varying demands of business
with absolute safety, as at present to the
holders of bank notes; that Congress en-
act legislation having In view the establish
ment of requisite banking facilities to pro-
mote and encourage commerce with for
elgn countries; that the Secretary of the
Treasury be authorized TO redeem at his
discretion such abraded or mutilated silver
coin at valuation proportional to it's origi-
nal weight, and allowing banks to expand
their currency in times of stress by the de-
posit of bonds.
Mr.. Parsons stated that he was personally
In favor OF what was known as Cages
plan for increasing the circulation of the
banks, but as some members of the COM
mittee were not present at the meeting
this question was not acted upon by the
committee.
Mr.. Harding thought that IL the report
was based on some premises which seemed
TO be indicated, he was not in favor of it.
FOR instance, 1t seemed to be inferred that
n n< l,,n
fects In the currency system He believed
u was due to other causes. 1t might also
De concluded, he said, that business in all
lines is now inflated. This might be true
or the stock market, but he believed all the
conditions OF business are in a wonderfully
sound state.
1t was explained by Mr.. Parsons that
such inferences could not be based on the
report but rather in the remarks he had
made While reading the report
With this explanation the report of the
committee was adopted.
Next Meeting to BE Held Here.
Ihe secretary, Mr.. Tucker announced
that the executive council had decided that
the next meeting of the board shall be held
in this city the second Tuesday of next
year. He stated that the suggestion was
made that the next meeting be held in ST.
Louis. while the exposition was in propress
II was understood that the exposition
would be postponed until 1904 and even II
II were not the regular meeting could he
held in Washington and another meeting
could be neld IL desired in St. Louis.
Ine president of the board was authorized
at MS leisure TO appoint the committees
provided Tor by the new plan Of organiza-
ton, and that the executive council be
authorized to take measures to carry out
the other details
A resolution offered by F. b. Thurber
was adopted. calltAg attention TO the
~orids exposition to be held at St I,oI,is
ana TO the plan for a floating exposition
as proposed by o. P. Austin, chief of the
bureau of statistics
"A resolution was adopted thanking the
washington Board OF Trade for its hos
PltaoIe Entertainment at the reception given
Dy Ihat organization last evening. DR. a
r PARDON, in behalf of the local board ey-
pressed briefly its qualification in having
Ine aeiegates OF the national board as :ts
suests on tnas occasion resolution of
thanks to Mr.. Speare. the temporary chair
man, was also adopted.
1t was announced that the President
would, at 12:15 o'clock, receive the mem.
bers at the White House and sheriff ha