Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1903-01-09

The annual meeting of the Richmond
Chamber Of Commerce was held yester-
day evening at 6 P NJ. with President
H. L. Cabell, in the chair.
Under the call for the reports of stand
ing committees Mr.. Q. J. Sands, chair
man of the Committee on Banks and
Currency. submitted the following report:
Mr., President and Gentlemen of the
Chamber of Commerce.-The report of
the Finance and Currency Committee of
the Chamber of Commerce of the State
of New York which you referred to our
committee, under the following resolution
Of that chamber.
Resolved, That copies Of this report
be sent to the official representa- tives of
trade In the United States with the re-
quest that these bodies give careful con-
sideration to the questions involved in
this report and join with the members
Of this chamber in the endeavor to Sc
cure from Congress prompt measures Of
relief
This report has been carefully consider
ed by your committee and we beg to re-
port that without taking your time to
specifically consider each recommenda-
ton contained in the very full report of
the Chamber Of Commerce Of New York.
we think it very desirable that some
early action be taken by Congress look
ing towards the improvement of our
financial and currency system. We, of
he y-if Interested
subject Of more elastic currency, cur
rency which will expand and contract
automatically a with the needs of COM
MERGE We fully agree with the Cham
ber of Commerce of the State of New
York upon their recommendation on this
subject and also that larger power be
given the Secretary of the Treasury in
the disposition of government funds SO
as to prevent the boarding in the vaults
of the Trea sury of large sums of money.
IS their report says: 1T is well-estab
lished fact that in times of great pros
perity and activity government revenues.
both from internal and from customs
dues. increase considerably. and, in con-
sequence, the withdrawal and locking up
into the Treasury of large cash supplies
take place at the very time when the
| money in the country is most needed for
its business.
! While not endorsing any particular
nIa,> or bill your committee thinks that
This chamber should do all in its power
to aid in getting an early action oS
Congress upon this most important .ques-
ton. We, therefore. offer and recon-
mend the adoption Of the following reso-
luton:
with the Chamber of Commerce OF the
state OF New York that some measure
| of currency reform should be adopted al
the present session Of Congress to pre-.
vent the recurrence of financial stringen-
CIV from which this country has so re-.
Gently suffered.
Your committee suggests that copy
| of this resolution be sent to our repre-
sentatives and senator's in washington.
| and that they present it to the finance
committees of the House and Senate.
Respectfully submitted.
| OLIVER j. SANDS.
vIRGINIUS NEWTON,
| JAMES H. DOOLEY,
| FRED w. SCOTT.
rornittee on Banks and Currency.
I7non motion of Colonel John Murphy
isthe report was received ard adopted with
the understanding that the recommended
| tion contained In the report should be
carried out.
The next business in order BENG the
repOrtS OF ofHCefS Tie ~ SSts1s|Ais .A.S
| a,,,,,al renort which was listened to with
! profound attention and greeted at its
conclusion with the Warnest applause. Sc.
| The report WAS as follows:
PRESIDENT. Annual Report.
Richmond. Va. January s. 1903
conference.-the fiscal year OF the
Chamber of Commerce corresponds with
1 the calendar year, and as to-night. we
gather at the tflirty-siXth annual meeting
OF this body, NE look back upon possibly
the most rennarkab BILE twelve months in
point of commercial activity, the coun.
i try has ever seen. In many ways 1soo
and 1901 periods Of wonderful prosperity
/ have been eclipsed and 1902 stands un-
riva.ed as the banner year OF American
enterprise. It's seasons were propitious.
resulting in bountiful. and. in some cases
unprecedented crops. its.days and months
were almost too short for our manufac-
tnrers to meet the demands upon them,
/ while or railroads. ordinarily clamoring
1 for business. have, In many Instances.
Seonfessed their inability TO handle ths
4 lta...,,c,,a; tonnage of merchandise result