Proceedings of the 1st-41st Annual Meeting of the National Board of Trade

CONFERENCE RELATING TO THE BANKRUPT LAW. 183

this case that has not been touched upon, and it is this. This Board of Trade, within the last two days, has recommended to Congress several measures; and it has appointed Committees to wait upon the Committees of Congress to urge the passage of those measures. Now, there are two parties in Congress, who are very bitter at times; and it seems to me that we ought not by any action of this kind, to prejudice the standing of this Board with either party; but we should so act as to recommend our resolutions to both parties. I am in sympathy with the sentiment of the proposition, but I do not believe it is policy to agitate it here.

The question being on the motion to refer to the Executive Council with discretionary power to place it upon the official programme for next year, it was agreed to.

Mr. HILL, of Boston, being called to the chair, Mr. OLDERSHAW, of Chicago, introduced the following resolutions, which were unanimously adopted:

Resolved, That the thanks of this Board are hereby extended to the Hon. FREDERICK FRALEY, President of the Board now and heretofore from its organization, for his very able services, and for his courtesy to the delegates, severally and collectively; and the earnest hope is expressed, that he will long be spared to preside over our deliberations in the future.

Resolved, That the thanks of the Board are hereby extended to the proprietors of Willard's Hotel, for the many courtesies which the Board has received from them.

After an informal discussion as to the best method of procedure with reference to the enactment of a National Bankrupt Law, it was arranged that the Committee from the Executive Council, and the New York Board of Trade and Transportation, assisted by such delegates from other commercial bodies as might be sent to Washington to a meeting called for the purpose, would attend to the presentation of the matter before Congress, and urge the passage of a bankrupt law.

The PRESIDENT (Mr. FRALEY), in declaring the Board adjourned, said:

Before putting the motion for adjournment, I desire to express my thanks to you for the resolution you have just past in regard to any service which I may have been able to render, and also the evidence the resolution shows of the friendly feelings with which you regard me.

It is seldom in the history of the life of one man that such repeated tributes of confidence and honor are bestowed. It is a matter of the greatest gratification to me that I can look back for the twelve years during which this Board has been engaged in deliberations upon the commercial interests of the country, and recall such exhibitions of devotion to those interests as I have witnessed, and the skill and ability with which they have been discussed.

Our meetings hitherto have been memorable I think in this feature, and not one of them will go down to history with more favorable impressions than the one we have now held, and which is about to terminate.

I would desire especially to refer to the ability with which the younger delegates in this present meeting have contributed to the discussions. I think their efforts show that there are young men growing up in this country, abundantly able to take care of its interests; and that when the veterans who have hitherto borne upon their shoulders the burthen of commercial cares shall be gathered to their fathers, they may depart with the conviction upon their minds that their sons and successors are worthy to be entrusted with the commercial destinies of this country.

It is not so much, gentlemen, the resolutions which we adopt by requisite majorities here, that are calculated to form public opinion, and to influence legislation to a great extent, but it is the discussions at these meetings, which teach not so much to ourselves of what may hitherto have been unknown to us, but also to the outside world, by the dissemination of the reports of our proceedings which contain so much that is valuable ; - it is in this way that we hope to obtain and secure the permanent influence of this body. My only regret is that one of the principal bodies connected with the membership has been unable to be represented upon the occasion. I know how difficult it is for gentlemen residing in

remote parts of our country to come even to the city of Washington- the great political centre - to attend these meetings. But from many gentlemen not present, I have received assurances of their continued interest in this Board. I feel quite sure that the return of the Chamber of Commerce of Cincinnati to our membership, will influence to a very great extent the public feeling prevailing in the West in regard to this Board; and that it is calculated to a very great extent to bring in other Western Boards of Trade and commercial organizations, - restoring those which have gone away from us, and bringing in additions of new members.

I know the difficulty of maintaining such an organization as this, from the fact that it may be considered as a purely deliberative body; and that, therefore, with gentlemen whose efforts are chiefly directed to the activities of trade and business, who seldom meet in council for the discussion of commercial questions, there should be some lack of interest in the proceedings of a body like this. But I feel that when such discussions as we have had today, shall reach them in the printed report of our proceedings, they will see and appreciate that this body does attempt at least to take care of the commercial interests of the country, and to direct the national legislation to those points which will secure its prosperity.

And now, gentlemen, I am about to say farewell. As I said at the opening of this session, I have been blessed with the requisite health and strength to meet the Board upon all occasions of its assembling, and to meet the Executive Council at all its sessions; but what may be in store for me in the future, I do not know. it should so happen in the Providence of GOD that I shall never behold your faces again, be assured, gentlemen, that the countenance of every member of this Board, and especially the voice of every member (which I can recognize more easily than the countenance) will be with me, not only while I am passing through the vale of life, but in the future will be indelibly impressed upon my memory. [Long and continued applause.]

The Board then adjourned, sine die.