Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1852-10-16


Guilty andper; and this withoutever having the shadow
Of reproach cast upon their good OF oil the mil
hons had almost said uncounted the millions which have
passed through their hands not dishonest farthng
has ever stuck by the way Through times in which the
Of Europe have been shaken to their centre
in which dynasties whose strike back the Roman
Empire, have been overturned and Emperors and Kings
been driven INTO exile the commercial house of which
friend is member connected believe il has some
times been with the great financial arrangements of the
day to almost fearful extent has stood firm for hun
dred years the rock Of honor and proby beyond
! proach and beyond fear
need not remind you, sir that there are the most
grateful associations between this country and the house
and family Of Barring not merely Of private and
mercial, but OF public nature. have within few
days. and in the presence Of of those whom have
now the honor to address, expressed my feelings of aec
tonate attachment TO the memory of the lamented let
me add beloved, Lord Ashburton However grateful the
employment and appropriate to this occasion, will not
| now revert to that topic.
All personal feelings apart think Won do we'll Mr.
President TO pay this tribute of respect the virtues Of
practical life, not perhaps duly estimated the subject
OF public honors, even in this community. You do well
to show on proper occasion that it is not merely po
cal emnence military achievement that you know how
to appreciate You do allow the triumphs Of the Sc
nate or the camp however brilliant to monopoze your
admiration You are sensible that there is wisdom,
courage and an honor Of the counting house and the
exchange always as respectable and, when called into
action on large SCALE not less important than those Of
the cabinet and the field When you do honor to
to the vast undertakings in which it embarks and the
millions 1T sways but to the beralty and good faith
which preside in all its transactions.
am aware sir that there in all countries, and
especially In our own popular preudices against
great Accommodations Of property We hear occasionally
of the supposed antagonsm ofabor and capital The dan
gerous power of what has been called the dynasty Of
accumulated wealth" is sometimes spoken of in our DO
hcal circles II would be too much to contend that pro-
perty in masses is never abused Capital and credtas
well as the want of both-are subject to abuse but
see no reason in the nature of things to
sary antagonism between labor and capital the
rary, they to the most faithful of allies and
best OF friends think too have observed that those
who loudes in their denunciatons Of the dangers
be dreaded from accumulated wealth conne their fears
to their neghbors They are very apprehensive that
others may abuse the which property is supposed
TO confer while they pursue with laudable selfrelance
undisurbed by theory the acquisition of the shining
mischief particularly when it comes in the shape of
good salary
Instead Of considering accumulated capital fraught
with danger to public liberty observation will, think,
teach us to regard only important instrument
of public and private prosperity but sure indication
of country governed by law What is capital? 1t is
nothing but the fruits of labor saved instead of being
consumed from hand to mouth II will not accumulate
TO any great extent where it is not protected by law
Look at the countries where capital does and those where
1t does not abound Compare England and the United
States on the hand with Turkey and Persia the
other The worse governed country the poorer will be
found however rich ia the gifts Of Nature There will
erned country, but it will be timd and urve and lose
nearly all its power benefit society by the necessity of
seeking conceament. There rich Jews at Bagdad
and rich Armenans at Damascus but their wealth is in
vested in precious stones and buried in cellars and
WHILE from time to time it is extorted from its
rghtfu possessors under the torture OF the bastnado in
heted by greedy provincial satraps in order to furnish
them the means Of buying the ayors Of remorseess vi
Zers and Sutans at the seat of government How differ
ent the in free country There capital walks bold
ly abroad; seeks investments gives life to commerce,
manufactures, and the arts traverses the land side by
side with her sister credit scattering plenty by the way
smtes the everlasting hills with her magic wand and bids
their adamantne portals fly open before the loaded train
puts iron curb into the oaming jaws Of Niagara and
throws bridge his roaring whrpools unites the
Atlantic with the Pacific and Europe with America by
her railroads and steamers and brings the remot
est borders Of the country into living contact by her elec
trio telegraphs.
But does it stop here? No. sir free and prosp, ron,
country like that Of our respected guest and our own 4
dspenses literally abroad Who is il that take the ieaG
in every measure of christian charity and nliuhtenec
public spirit Our guest can answer for all out himself
in his own country; may ask you, sir, Ito Mr. Apple
TOM with respect to this community Or rather will
ask you, sir but almost any 81 oner who il i
that builds the hospital endows the dum the house
Of refuge the college, the athenaum ives sight 10 thu
blind and hearing the deaf and shelf ar 10 the
and performs the thousand other ble ed Offices Of
handed and warm hearted christia love Even If this
otherwise from the very natu 70 of things there car
DC no hnlagohs Detmeeh vapl and the other INTEREST,"
Of society," for it seeks of sity those investment
which promote the public nodaton and benefit Ii
country like England and Ar nerica the owner of capa
really reaps the smallest porIn Of the advantages which
flow from its possession he rs but kind of head book
keeper or chief clerk to thu business community HI
may be as rich CrGsus at he can neither eat drink
nor wear more than one ma MS portion The houses
warehouses, the ships and railroads which he builds
buys for the accommo ton Of ohers-of the public
remember hearing je' made about Mr. Astors pro
pery which contained thought great deal Of meaning
a latent, practical phi tosophy Some one was aske
whether he would be Hing take care of all Mr.. As
tors property eight len millions Of dollars land tina
ne think great prop sry; with you SIR on the othe
side OF the water IL suld be fea-bi mere
" for his board and Clothes. mo-" the ndgnan
answer do you u snk foo? 7" "Welln reoins tn
other that Is all iat Mr. Astor himself gets for takin
Of it; he's rund and that's ALL The houses, tn
warehouses the sb rs the farms which he by Oh
hundred and is tsged take care Of are for the
commodation Of rhers" but then he has the income
the rents Of all s mighty property, FIVE six hundre
thousand dollars per annum." eyes, but he d
i warehouses ana ships, loan more money mort
gage for the convenience Of others He's found and 20
\ can make nothing else out Of it," .t8r.
In the country Of guest and in Europe generally
capital is more frequently called upon than II Is with
to exert an influence public affairs II rises there
the importance Of fourth estate Of the realm and
despotc Governments is often the only efectual check
power In looking lately at extracts from the me
mors Of Count Moen Minister Of Finance under Napo
leon, surprised to see how much difference the i'm
pera antocrat obliged TO pay 70 the chief OF ms rea
sury Had he done ii he might have worn his crow
the grave That honest minister more than once pu
drag chain the wheels Of conquest while they wer
rolling PROSTATE Europe. a - .. :
The necessary connection Of capital with politics in Eu
bv related m