in a single volume, the condition of mercantile affairs in our city during the preceding year, with reference also to any important changes in the business markets of the state at large, connected with the general trade of the country." It was added:

In the absence of a governmental volume from the Treasury Department, or from a Bureau of Statistics at Washington, illustrating the interests of foreign and domestic commerce of the several States, it becomes the legitimate duty of the Chamber of Commerce annually to exhibit, as far as practicable, the progress of trade, commerce, and manufactures in our city, and such collateral topics as concern the interests of our merchants. It is considered that such a volume might appropriately exhibit, I. The imports and exports of staples from the city and state. II. Trade reports for the year. III. A review of the financial movements of the year. IV. The progress and condition of manufactures. V. Laws of the United States for the year, and of the State of New York, of a commercial character. VI. Journal of Proceedings of the Chamber.

This programme was admirably carried out in the first volume, which is a mine of information on all the subjects mentioned. As a pioneer in the field which has since been filled with intelligence and ability, it was a really remarkable production. In a summary of the developments of the year 1858, it was pointed out that the completion of the Atlantic cable, the negotiation of treaties with China, Siam, and Japan, and the rapid recovery of values from the revulsion of 1857, united to make 1858 an important era in the commercial history of the United States.

In fact, the psychological moment for a publication of this kind had arrived, and the members of the Chamber, animated as always by an intelligent and vigilant devotion to the public interest, were prompt to recognize it. If the year 1858 marked an era in the commercial history of the country, it marked one also in the history of the Chamber of Commerce,

for as an organization it placed itself on an enduring foundation and advanced to a wider field of usefulness than it had ever known. Its membership at this time was five hundred and fifty.

CHAPTER XV

THE CIVIL WAR

PROMPT ACTION OF THE CHAMBER IN SUPPORTING THE

GOVERNMENT AND THE NATIONAL CREDIT

1861

WHEN the news of the firing upon Fort Sumter came in April, 1861, the Chamber did not hesitate a second as to its duty in the crisis. A special meeting was called on April 19, the day on which President Lincoln issued his proclamation declaring the ports of Southern States to be in a state of blockade, and the attendance was "large and enthusiastic." The key-note of the gathering was sounded by the President of the Chamber, Pelatiah Perit, in a brief speech which deserves and holds high rank among the patriotic American utterances of all time. It is reproduced here in full, as an enduring honor to its author and to the body over which he was presiding:

We are assembled to-day in special meeting, at the written request of many of our members, according to the requirements of our by-laws. It has been the habit of this Board not to intermeddle with the political questions which agitate the country; but there are occasions on which the ordinary rules of proceedings must give way to peculiar emergencies, and such an occasion has arisen to-day. The nation has, in the course of events sudden and unexpected, reached a crisis unprecedented in our history, when the safety of the government is threatened, and when the President of the United States, compelled by this alarming state of things, has called on the citizens to rally to the defence of the government. As an influential body of men in this commercial centre, we are bound to respond heartily to this call. I trust,

gentlemen, that in the discussion of this morning, we shall forget all party distinction, and, with unanimity and warm hearts, rally in support of a constitution and government the best in the world, and under which we have lived and prospered since the close of the Revolutionary war. All which has been ours in time past, and which constitutes our hope for time to come, is at stake. Under the specious name of secession, traitors have seized the public property, have attacked the national forts, and are now threatening the national capital. The prime of our young men are marching to its defence. Let us meet the crisis like patriots and men. There can be no neutrality now-we are either for the country or for its enemies.

A series of resolutions was presented in which it was declared that the Chamber had witnessed "with lively satisfaction the determination to maintain the constitution and vindicate the supremacy of government and law at every hazard"; that the so-called secession of some of the Southern States having at last culminated in open war against the United States, "the American people can no longer defer their decision between anarchy and despotism, on the one side, and on the other liberty, order, and law, under the most benign government the world has ever known"; that "this Chamber, forgetful of past differences of political opinion among its members, will, with unanimity and patriotic ardor, support the government in this great crisis, and it hereby pledges its best efforts to sustain its credit and facilitate its financial operations"; and that "it recommends to the government the instant adoption and prosecution of a policy so vigorous and resistless that it will crush out treason now and forever."

The members left no doubt as to their sentiments, for they sprang to their feet and adopted the resolutions unanimously with ringing cheers.

A copy of the resolutions was sent to President Lincoln and a few days later the following acknowledgment was received from the Secretary of State:

DEPARTMENT OF STATE, WASHINGTON,

26th April, 1861.

TO PELATIAH PERIT, ESQ., President of the Chamber of Commerce, New York:

Sir,-The resolutions of the Chamber of Commerce concerning the present attitude of public affairs, although sent forward so early as the 20th inst., have, in consequence of postal obstructions, only just now reached this Department. I have lost no time in submitting them to the President of the United States.

He directs me to assure the Chamber of Commerce that he has read the resolutions with the highest appreciation of the loyalty, patriotism and liberality of that body; and to the end, that they may find a just place in the history of this, the most important crisis, save one, that our country has been called to meet, I have deposited the resolutions in the archives of the government. I have the honor to be, with the highest respect,

your obedient servant,

WILLIAM H. SEWARD.

In order to put the pledge of support into instant action a committee was appointed to procure subscriptions for the balance of about $8,000,000 which remained unsubscribed to the loan of $25,000,000 which the Government had authorized in February, 1861. Subscriptions for the desired amount were made and the Secretary of the Treasury was informed that this sum could be drawn at once.

Another committee was appointed to raise funds in aid of the volunteers of the city and their families, and at the next meeting in May this committee reported that they had collected $115,853, of which $92,884 had been expended for the equipment of troops, and the balance, $22,969, had been transferred to the treasurer of the Union Defense Committee. At the June meeting it was voted that a suitable medal be struck and presented to each of the officers and members of the garrison under command of Major Anderson at Fort Sumter and Lieutenant Slemmer at Fort Pickens. Later 168 medals were distributed at a cost of $1,500 which