The Chamber of Commerce is one of New York's very oldest institutions. In fact it is older than the Republic itself. Organized in 1768 when the city was in its infancy, it was the natural outgrowth of the rapidly developing commercial interests of the city. Although New York had attained considerable importance as a commercial center it had not yet given evidence of becoming the pre-eminent and imperial city of the Continent. It may be supposed, however, that some of the members of that early Chamber of Commerce must have had dreams of the future greatness and importance of the little bustling town which was spreading so rapidly on both shores of Manhattan Island.

In its inception the Chamber of Commerce was only a group of business men, what we would call today a public-spirited body of citizens, associated together the better to conserve and promote the interests of the city. Most of the members were leading business men, or men prominent in the social or public life of the community. The familiar names of John Cruger, Elias Desbrosses, Samuel Verplanck, Isaac Low, Anthony Vandam, Philip Livingston, John Alsop, and William Walton appear in the membership.

They called themselves the Society of Merchants and declared their purpose to be to discuss and consider public affairs and to take such action as would promote the commercial and business interests of the city. Although the Society exercised its functions from the first, it was not incorporated until March 13, 1770, when the Royal Charter was granted to it as the Chamber of Commerce of the City of New York.

Already disturbances had occurred which presaged the Revolution and the excitement spread to the members of the organization, some of them being sympathizers with the movement. The majority, however, were opposed to independence and strongly expressed their sentiment in favor of the mother country. Commercial communities are naturally conservative and New York was no exception. 

However, when the die was cast and the Colonials triumphed no more loyal body of men could be found and during the distracting and uncertain times between the attempted formation of a Confederation and the ultimate achievement of a Constitution the Chamber of Commerce was a bulwark of strength to the young and struggling government. In all the great crises of the Nation the Chamber of Commerce has been a powerful stabilizer and support. In the reconstruction period after the war of 1812 and in the same period after the Civil War the influence of the Chamber of Commerce was of paramount importance in re-establishing normal conditions in the commercial and financial affairs of New York and in fact of the nation.

The Chamber of Commerce has always been composed of practical business men representing every phase of business life, and its prestige and power have consequently been able to accomplish many things which otherwise would have been neglected or perhaps not accomplished at all. Many of our great public works have been initiated by the Chamber of Commerce and no small part of our laws affecting commerce and industry have been shaped and directed by the practical minds of its members.

One of the most interesting and serviceable contributions of the Chamber of Commerce to our business life is the custom, now quite firmly established, of including as a guest of honor at its annual banquet a cabinet officer, usually the Secretary of the Treasury, whose speech is regarded as a semi-official statement of the policy of the Administration in relation to the financial, commercial and industrial affairs of the country. The interest in this speech is nation-wide and its effect in clarifying the business atmosphere and stabilizing conditions in the commercial and industrial world, for a time at least, is extremely beneficial.

Another service of importance the Chamber of Commerce has rendered to the city is the collecting and preserving of records, statistics and information covering the entire period of its existence and making a unique and interesting story of the wonderful growth of New York from a small trading post to the proud pre-eminence of the first city of the world. The present handsome building of the Chamber of Commerce is one of New York's most beautiful and classic structures. The successive steps of the evolution from the little room in Fraunces' Tavern where it was organized with a score of members to this palatial building with a membership of over a thousand is in itself a revelation of the wonderful growth of wealth and power in this city.

The luncheon given to the British and French War Commissions during their visit to New York in May, 1917, was marked by a tactful reference to its great age by the guest of honor, the Rt. Hon. Arthur J. Balfour. It is to be hoped that some suitable history of the Chamber will be issued to its members in commemoration of its 150th Birthday.