Evening star., 1908-01-23

recommends that all existing restrictions
upon the issue and retirement of national
| bank circulation under the law of July
l.. 1Ss2, in section . be repealed
! That the National Board of Trade
favors the issue OF properly safeguard
ed RATIONAL bank emergency currency
| without the deposit of any bonds under
| rules and regulations to be established
by the controller of the currency. with
thr approval OF the Secretary OF the
| Treasury. Such emergency currency to
| bc guaranteed by the government and
| taxed at rate which will make its issu-
| ance practicable, anG yet be sufficiently
high to insure its rapid retirement as soon
| as the emergency conditions shall have
| subs!ded.''
The afternoon session was adjourned at
| G:2o O'Clock.
Banquet Last Evening.
The convention reached its climax last
evening, when, at a brilliant banquet in
| the red room at the New Willard, many
of the most prominent men in the coun-
ellis of the land united with the members
of the National Board of Trade in festive
celebration of the accomplishments of
| the forty years since the organization was
formed. For the first time in the history
| of the national board, too. its hospitality
| was extended to the ladies. and reniSs,
indeed. was the speaker who failed to ap-
! propriately compliment the fair guests ere
he ventured to unburden his soul of the
| message 1t might be carrying to his fell
spread, one large. long table being placed
| across an entire side of the room. and
elevated for the officers of the board and
| the speakers of the evening, while the
smaller round tables ranged in rows across
| the floor. The room and the tables were
beautifully decorated with flowers and
| ferns and palms
The speakers included Vice President
| Fairbanks. Secretary Straus of the De-
| partment of Commerce and Labor, Speak
er Cannon. the italian ambassador. Baron
| Mayor des Planches;. Senator'S du Pont
| and Richardson of Delaware and New
| lands of Nevada and Representatives
Jackson Of Maryland. Burton OF Della
ware. Olcott Of New York. Burton of
Ohio. McCreary. Wanger. Lafean. Cook.
Moore and Bingham of Pennsylvania and
Loudenslager and Wood Of New Jersey.
| Postmaster General Meyer. who was un-
able to be present. sent a letter TO Josiah
! Marvel. chairman of the banquet commit
| tee. which was read. and in which Mr..
/ Meyer gave his we'll known views regard
ing parcel post and postal savings banks.
Drink Toast in Silence.
Frank Il. LaLannc OF Philadelphia,
president of tho National Board of Trade.
acted as toastmaster. He called for a
silent toast to the President of the United
/ States. which was drunk standing. and
/ then introduced Vice President Fairbs nks
who spoke of our national development.
which he characterized As the marvel of
/ the world. This development. he declared.
I is largely due to the wisdom and cop-
| Servs tism of the American business men.
The Vice President defended the American
business men from the charge Of COM
merCialism. saying there are no more up
right men in the world.
( President LaLanne proposed another
( toast this time to King Victor Emanuel
| of Italy and again all the guests arose
I and silently quaffcd the wine. Baron
Mayor des Plsnchcs the Italian ambassa-
dor. voiced his appreciation of The COM
pliment 10 his sovereign.
The commercial relations between the
United States and Italy arc cmncntly
/ satisfact ctory.'' the baron said. and he
: added tho statement that Ge commerce
has Increased lJo per cent within the past
decade.
The most important article which we
send to you is raw silk, while you send
to us all sorts of manufactured products.
| We arc very hospital TO your goods.
Your exports entering Italy are extended
very favorable rates. and We ask nothing
in the way of reciprocity.
Speaking of the merchant vessels which
carry the commerce of the two countries.
I the ambassador said that fifteen lines of
| steamers ply between America and Italy,
Htc OF WHICH are icui iiSii,
one Frcuch. ono Spanish and one. Greek.
! The speaker drew forth enthusiastic ap-
plausc when ne said II should he very
glad to see ships flying the Stars and
Stripes i'll the ports OF Italy
, Promotion of Commerce.
| Secretary Straus of the Department of
Commerce and Labor spoke of the efforts
of his department in promoting COM
mcrce.
The department has taken steps to
come into closer relations with the COM
kmccial interests of the country hc
I said, land invited delegates in December
last from the leading commercial and
| trade organiZa tons of the principal cities.
! with a view. not of creating a new ma
| tional board OF trade but small dele
gated body with permanent sea. in
| Washington. which would represent the
entire commercial and trade interests of
the country. and would not only CO.
operate, but be constantly in touch. with
ii and other departments in promoting
the best interests of commerce at home
and abroad. The governments of our
leading commercial rivals have such CO.
operation. and they arc largely proiiting
by the arrangement. | am pleased -
tell YOU that this organization OF COM
| mercial interests Is making excellent
progress. under the direction OF an execu-
tive council. and that the department is
ready to heartily grasp its hands. ur-
thcr than this. the department. upon a
i request laid before it by the President
has warmly Endorsed a plan to establish
commercial instruction in the leading
| state universities and other institutions
| in states where no such universities eX-
| i.st. so that the science as we'll as all the
arts of commerce may be taught to the
youth of the country.
River and Harbor Development.
Senator Ncwlands spoke on the river
and harbor development of the country.
He said the people. at bottom. were those
who could force Congress to pass legisla-
tion necessary to improve the rivers and
harbors He detailed the work that might
be done with the waterways VI the ma
ton aud pointed out that not only in river
Improvement. but in irrigation and the
drainage of swamp lands. as well as in
| other ways Congress could use the water
ways. He said the railways are congested
and that solution must he found in the
use Of these natural highways for the
TRANSFORMATION at least. OF the bulky aud
heavy commodities.
Views Of Speaker Cannon.
Sneaker Cannon praised the integrity OF
tho legislators of the country and said
that one of the most important factors in
the progress of the United States is the
differences of opnion which often spring
up between t.le two branches OF Congress
and the executive He reviewed the
progress in the transportation affairs of
the country and said that it would be
wisdom on. the part OF Congress TO be
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