The Washington herald., 1908-01-22

The thirty-eighth annual meeting Of the
National Board Of Trade began yester-
day morning at the New Willard, rose
TO a mild climax during the afternoon,
and wound ug with several committees
meeting during the evening.
The morning sessions were mostly those
of advisory bodies. The afternoon meet
ings were open 20 the reporters, and
given over TO routine business, The
evening gatherings were secret eonclaves,
the results of which will not be made
public until some time to-day.
Report of Advisory Council.
The address of the president and the
report of the advisory council were the
chief features Of yesterdays session. The
report, considered one of the most i'm
portant events Of the annual meeting,
said in part:
While the financial crisis may be con-
sidered as passing away. yet it is feared
that some time must elapse before the
country again takes up its onward march
in the line OF prosperity, marking the
years going before the last
1T perhaps would prove prohtless for
your council to attempt TO place the blame
upon any Of the many causes which
up 10 the panic of October and Nov,
ber last, as the wisest fnanciers
economists differ in their diagnosis
the situation. 1t seems. however. IN
is a necessity for some material char
in the laws governing the issuance {
regulation Of the national currency.
Many suggestions 10 this end are
fered in the programme OF the meet
and the widest and fullest discuss
should be accorded the subject. Congr
is considering the question. but 50 far
crystalizatiOn of ideas seems prObal
The fear is entertained that political C
slderations may outweigh the more
p0Hant ones of sound business prlnciI
In dealing with this vital question.
Rivers and HarhOrs Appropriate
''There was at least one bright
in the record Of the closing session
the Fifty-ninth Congress. the libe
treatment Of our rivers and harbOrs
the passage OF a bill appropriating s
s63, 432 for their Improvement"
After speaking Of the railroads in
ticular. the report goes on generaliz
on corporations.
1T is recognized by those in touch
the business world that a fear ex
that the many vague insinUations
suggestions as 20 what is yet 10 be d,
20 correct real OF imaginary wrongs
corporation management, may ham
and interfere with the economical
practical handling Of business so as
obstruct il, and restrict legitim
profits.
Following this report came the
pointment Of the committees by Pr
ident Frank D. La lame These co
mittees, which met in executive $
sion. last night. will report tod
upon the various subjects OF propos
legislation These reports will be
subject of debate. as there is much
tcrest in several questions to be &C
sidered.
Important Committees
Some of the important commit,
are; Credentials. American merchs
marine. interstate commerce. and IA
road transportation, uniform bin
lading. consular service, postal afrai
parcels post postal savings banks. ta
N and reciprocity. customs administI
tion act, river and harbor improy
ment. international arbitration. r
uonal currency, immigratio forest
and irrigation. Federal grain insps
tion. and corporation legislation.
Presidents Report.
The session Of yesterday began shor-
after y o'clock. and the first address v
that Of the president of the board.
La lame. He said, in part:
The national board has worked ha
for a merchant marine To-day we IA
the sorry fact that our navy has no au
iliaries to carry its supply Of coal arou
70 the Pacific. The Gallinger bill for
protection Of American ships is good. b
10 my mind IL does not go far enoug
What is needed is a general bill of q
character Of the one offered in the Ia
Congress, providing the payment of
moderate subsidy 10 cargo ships.
We should build our own ships to sa'
the S2Wr0o0po0 annually paid to foreigne
Tor ocean freights, and be prepared f
the enormous growth of our foreign tra,
when the Panama Canal is finished.
The amendment 10 the interstate con
merCe law has. no doubt. been hen.
1cial. both 10 the carriers and the shin
pers. Ii has shown some defects thf
should be modified. An amendment Shout
be made giving the carriers the right (
make traffic agreements among then
selves
"A great assistance would be a uniform
bill of lading. 1t would become a ne
gotiable piece of paper, discountabIe il
every financial institution, thus being
great aid In panic times
What your board did toward tb,
present consular bill has borne goo,
fruit. II we insist that every American
consul all over the world is welI-edu
Gated business man, an American citizen
FULLY alive to making trade. the commerce
Of our country could be largely increased
The development Of our waterways
so important 20 relieve our inadeduat,
transportation facilities, YOU must anC
VIII take up with great zeal Appropria
ions or last Congress-in all, 1873 900
were IN answer largely TO our determined
stand Tor liberal appropriations But ",
want more, So,000000 a year. no less.
A wise reform IN our banking and cur
rency laws is imperative. The posta
savings bank proposition Of Postmaster
General Meyer has been almost universal
ly irdoTsed
In recent interview your president
had with President Roosevelt. the latte
emphasized the destruction of our forests
! earnestly hope you may propose. som,
wise method 10 stop the waste and refor
est the country"
To-day Is Big Day.
The meeting Will not end until %
morrow afternoon, The big dav il
scheduled for to-day.
Beginning with the important bushes,
Cf considering recommendations of va
rious committees, which have thresheC
out schemes for the betterment OF ex
isting laws on the merchant marine, fol