New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-01-08
SPEECH OF SECRETARY BOUTWELL, BEFORE TIE
PHILADELPHIA MERCHANTS.

SPEECH OF SECRETARY BOUTWELL, BEFORE lhE
PHILADELPHIA MERCHANTS.
PHILADELPHIA, Jan. 6.-President Grant ac-
companed by Secretary Boutwell, Gen horace ror'o'
ex Secretary BOre and OK Senator Catte had iornH
reception at the Commercial Exchange when was ~
tended by large cOncourse oil merchants SECRETARY
Boutwell,, after being introduced by ex-senator Catte
spoke a follows:
Under the present circumstances yon will not expect
me TO speak at any length upon any suect this oIn
he either TO YOU or to me- Everything whatsoever that
concerns the business or finances OF inc country
always be important 10 the whole people, ~ ~ ms
fortune I'm time of war and consequently, his fortune
In time OF peace following great war; that whoever ~
ms not expect 10 escape from that condition to which
Burke referred when he SAID To TAX ana 10 please are
tons do propose often In my life 70 make ex,
plantations as TO matters Of public concern %tn Tc me
often as ofhciaiy It has been my duty to ad
dress them on the Importance and necessity Of MAINTAIN
inc snch system of taxation as will materially and con-
stantly work the reduction OF the pubic deDt;
the country by the payment of the public debt Is trans
ferred the public securities to the banks and saies
for the construction Of railroads. for the Improvement
Of all your Of communication between one part vi
the country and another the establishment OF manu-
features, and for the development OF Your agrcutuIe
The s3OOOOOOOO Of the public debt or nearly that amount
which paid within the last three years nave
been just many dollars transferred rom the puoc
securities in which they locked up 70 me enaes
n.
the OF the entire country. Now tnen We II
is necessary to continue TO the same extent me
public debt, believe that we shall DE aIsc
the good faith that has been pledged TO the pubic
creditors we shall be false TO the pest III,
terests Of the country, and we shall disregard
the experience We have had that tins pOlicy
contributes the public prosperity II we do not
the means TO pay least s50O0O0 OF the pnDlc aeDI
each year until that debt Is much reduced that H. III
any exigency which may come upon our nation AZ any
moment we shall he called upon 10 ask the country o
the world for loan Of slOOOO0OO0, s5OOOO0Wo OF on
81 OOOOOOOOO the capital of the world will leap IRON %
vaults OF its into the Treasury OF the uneu
States. While / disposed to regard precedehts
while would look into the writings OF learned men lO
ideas and for the experience which other NATIONS anu
other generations have had still believe that he pest
security in regard to the ideas OF policy and power Is 10
be found in the examination Of existing facts ana trust
in the Judgment Of living men, lApplauseI Excuse me
for what have said. desire the prosperity OF your
city, OF your state and Of your country ask h9IHg
Of YOU personally but that you advocate ana nahih
that policy which upon serious examination OF the pun
lie affairs shall commend itself to your best dgLheht
Addresses also delivered 10y President COMFY Vi
the Exchange and others, the prospects VI fhIa-
delphla.