posed of experienced business men, to be appointed by the President, for the purpose of investigating the necessity of and recommending schedule changes along the lines lately suggested by President Taft.

XLVII. TARIFF.

SCRANTON BOARD OF TRADE.

Resolved, By the National Board of Trade that Congress be requested to amend Section 38 of the Tariff Law of 1909 (popularly known as the Corporation Tax Law), so that in clauses 1, 2 and 3 of paragraph 2, the words "actually paid" and "actually sustained" be changed to read "actually incurred" and "actually ascertained," and that the third clause be changed to read so that the return will be based on the last completed year prior to December 31st, in cases where the fiscal year of a corporation is not the calendar year.

XLVIII. NATIONAL TARIFF BOARD.

WILMINGTON BOARD OF TRADE.

WHEREAS, The changes made by the last session of Congress in our tariff laws have not proven satisfactory, and as there still exists a wide difference of opinion as to how our tariff laws should be adjusted, it would seem wise that the question of regulating and adjusting our tariff laws should, as far as possible, be removed from party politics; therefore be it

Resolved, That the National Board of Trade, in view of the excellent work already done by the present constituted Tariff Board, recommend that the present Board be made permanent, and that it be so constituted that it will be non-partisan in its character; and be it further

Resolved, That the National Board of Trade recommend to the present Congress the early enactment of a law to this effect.

XLIX. SETTLEMENT OF DAMAGE CLAIMS BY RAIL-
ROADS.

BALTIMORE CHAMBER OF COMMERCE.

WHEREAS, It is the custom of the railroads to settle claims for loss or damage on the basis of invoice price, holding that the amount of loss or damage for which the carrier is liable shall be computed on that basis; therefore be it

Resolved, That the National Board of Trade protests against this method of settlement of claims for loss or damage, and insists that

where property is damaged or destroyed through the negligence of the carrier, the owner shall be reimbursed for the loss sustained in replacement.

L. BILL OF LADING LEGISLATION.

BALTIMORE CHAMBER OF COMMERCE.

WHEREAS, The great staple crops of the country, also the products of the factory and mine can only move in interstate commerce under bills of lading; and

WHEREAS, Great laxity on the part of the carriers has heretofore existed in the issuance of bills of lading for valuable property and serious financial loss has been occasioned by accommodation bills of lading, and also on account of forged bills of lading, it is therefore essential that bills of lading should be, in every sense, bona fide and faithfully represent the facts therein stated, for the protection of the producer, the dealer, the financial institutions and the carriers, and as there has been passed by the House of Representatives and there is now pending before the Senate of the United States "A Bill relating to bills of lading (H. R. 17,267), known as the Stevens Bill," which has for its purpose the prevention of issuing irregular bills of lading of any kind; therefore be it

Resolved, By the National Board of Trade that it indorses Bill H. R. 17,267, relating to bills of lading now pending before the United States Senate, and earnestly recommends its speedy passage; and be it further

Resolved, That a copy of this resolution be sent to the President of the Senate, with a request that it be submitted to the Senate.

LI. BILLS OF LADING LEGISLATION.

MILWAUKEE CHAMBER OF COMMERCE.

WHEREAS, The laxity that is at present common in the issue of bills of lading, resulting in various forms of abuse and fraud, renders them exceedingly untrustworthy and therefore inadequate in the performance of the important functions which the handling of the commodities of this country impose upon them, thus failing utterly as a protection to the shipper, the banker and the carrier, which is the sole purpose of their existence.

Resolved, That the National Board of Trade strongly favors the passage of H. R. Bill 17,267, known as the Stevens Bill, now before the Committee on Interstate and Foreign Commerce of the Senate of the United States, which has for its object the regulation of the issue of bills of lading in such a way as to prevent irregular methods

in connection with their use, the safe conduct of the vast commerce of the country demanding a reform in the present bill of lading, which it is believed will result from the enactment of the Stevens Bill into law.

LII.

RESPONSIBILITY OF CARRIERS IN THE ISSUING
OF BILLS OF LADING.

NEW YORK PRODUCE EXCHANGE.

WHEREAS, The practice has grown in some sections of this country on the part of railroad companies, whereby bills of lading are sometimes issued in advance of receipt of the property; and

WHEREAS, Such bills of lading have in some cases been irregularly and fraudulently issued, entailing heavy losses on innocent holders and impairing the value of bills of lading as a basis for credit; be it

Resolved, That the National Board of Trade hereby urges upon Congress the immediate enactment of a law placing upon the carriers full responsibility for the acts of their agents, and making the carriers responsible to the consignee or holder of an order bill of lading, who has acquired same in good faith and for value, for property described in all cases when such bill of lading is signed by an agent or authorized representative of the carrier.

LIII. UNIFORM CLASSIFICATION.

BALTIMORE CHAMBER OF COMMERCE.

WHEREAS, Discriminations against commodities and business interests, also localities, may result from improper or unfair classification of freight in the United States, and inasmuch as uniform classification of freight by the carriers is feasible; therefore be it

Resolved, That the National Board of Trade favors the compilation and adoption of a uniform classification of freights, subject to the approval of the Interstate Commerce Commission, both in its adoption and any changes therein.

LIV. SETTLEMENT OF DAMAGE CLAIMS BY RAILROADS.

NEW YORK PRODUCE EXCHANGE.

Resolved, That the National Board of Trade protests against the practice of carriers in compelling settlement of damage claims on the basis of invoice valuation or value of property at time and place of shipment and urges the Interstate Commerce Commission to require carriers to settle such claims on the basis of value at the time and

place of delivery; and if no delivery is made, then on the basis of value at the time and place when such delivery should, under normal circumstances, have been made. And further, that the National Board of Trade requests the Interstate Commerce Commission to direct that a provision to the above effect be embodied in the uniform bill of lading form now in general use by railroads.

LV. INTERNATIONAL ARBITRATION.

PHILADELPHIA CHAMBER OF COMMERCE.

Resolved, That the National Board of Trade reaffirms its belief that the destruction of wealth and the human misery attendant upon warfare may be greatly diminished by the extension of the method of arbitration in the settlement of disputes between nations, and further expresses the hope that the United States Government may find it expedient to initiate steps to bring about, by diplomatic negotiations, the organization of the proposed International Court of Arbitral Justice.

LVI. INTERNATIONAL ARBITRATION.

PITTSBURG CHAMBER OF COMMERCE.

Resolved, That the National Board of Trade reaffirms its belief that the destruction of wealth and the human misery attendant upon warfare may be greatly diminished by the extension of the method of arbitration in the settlement of disputes between nations.

LVII. NATIONAL ARBITRATION.

NEW YORK PRODUCE EXCHANGE.

Much misery and heavy monetary loss is yearly forced on employers of labor and employees by the present systems of strikes and lockouts. The public also suffer severely and unnecessarily and bad blood is created between the well-to-do and the working man, which tends to destroy that feeling of good fellowship between all classes which it is the duty of every citizen to encourage.

We believe that it is time for the National Government to carefully consider if legislation cannot be enacted to mitigate the evil and possibly do away with it entirely.

Mandatory settlement of all labor disputes by a United States Government Commission, when corporations, firms, or individuals are doing an interstate business, seems the practical solution and should be feasible, as it has been practically worked out by other nations; therefore be it

Resolved, That the National Board of Trade calls the attention of the Attorney-General and Congress to this question, hoping that some action may be taken to prevent a continuance of this evil which has become a national disgrace.

LVIII. DIPLOMATIC AND CONSULAR SERVICE.

NEW YORK PRODUCE EXCHANGE.

The importance and value to our commercial interests of an efficient and well-equipped consular department is yearly becoming more and more pronounced, and we strongly urge upon Congress the necessity of passing such additional legislation as will keep this service at the highest possible standard of usefulness.

We consider political influence should be entirely eliminated in securing the necessary employees for this branch of Government work. We indorse the recommendations passed last year advocating the opening of special classes in our leading universities for the careful education of young men desiring to enter the diplomatic and consular service, the graduates to be safe-guarded by receiving a diploma entitling them to register their names at the State Department and the Government securing by examination the man required from such list.

We urge an adequate advance in salaries paid to our consuls, approve of annual appropriations to purchase homes for our representatives abroad and recommend the department should be placed on a permanent basis of organization, promotions to be regulated solely by merit and service rendered.

LIX. COMMERCIAL EDUCATION.

PITTSBURG CHAMBER OF COMMERCE.

Resolved, That the National Board of Trade records its gratification of the marked improvement which has taken place in general methods of commercial education.

Resolved, further, That it is the sense of this Board that such instruction is desirable, not only in the higher institutions, but in public and preparatory schools, forming as it does a necessary part of the equipment of every business man.

LX. EXPORT TRADE.

NEW YORK PRODUCE EXCHANGE.

The diminishing volume of our exports in cereals and crude products and the certainty that they cannot increase, owing to the con