New York’s Chamber of Commerce was the first mercantile association in America. It was founded 1768 by twenty merchants in the Fraunces Tavern. It promoted commerce, mediated trade disputes, and lobbied for laws that would facilitate trade and industry. The Chamber of Commerce was one of the main sponsors of the construction of the Eerie Canal. During the 1980s it merged with the Lower Manhattan Development Corporation. Their former building is a spectacular Beaux Arts building located at 65 Liberty Street, almost right next to the Federal Reserve Bank.