The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-05
CHAMBER on COMMERCE.
Annual Banquet of New York's
Merchant Princes.
ELECTION OF OFFICERS.
An Oratorical Tilt Between Two Possible
Presidents.
PIERREPONT ON OFFICIAL MISERY.
ELECTION OF OFFICERS.
PIERREPoNT ON OFFICIAL MISERY.

SutoN VI peltuouiSo Tutu avenue anu fouftcchah
street Tho banquc, hall decorated with national
nags Over the head OF tho President the seal OF
the Chamber At the eastern end OF the were
the arms OF tho city of New York At the west hung
the shield OF tho Empire State Along the front OF the
table occupied by the officers and invited guests
mounds or flowers.
Among the prominent guests presens were His Ex-
ccllcncy Governor Samuel J. Tilden. Hon. Edwards
Perrcpont Attorney General OF tho United States;
Hon. S. b. Chlttcnden, Member OF Congress; Hon.
Benjamin A. Willis, Member OF Congress;
Thomas L. James, Postmaster; George IL
sharpe John Bgeow, Secretary Of State; L. Bradford
Prince. State Senate George H. Forster. State Assem-
bly,; Salem II. Wales, President Dock Commits
sion; Andrew II. Green, Enoch !. Fancher,
Charles r. DAILY, John Il. Brady, Noah
Davis William 4. Curtis, Abraham II. Lawrence,
Charles 0Conor. Joseph H. Choatc, Rev. E. II. Chaplin,
d. D.; Rev. Theodore l.. Cuyler, d. d.. Rev. John
Hail. D. D.. ; Rev. Edward A. washburn. D. D.; Rev.
William ~. Taylor. D. d. Rev. George D. wildis, D.
D.; Tctonoski Tomita Esq. vico Consul Japan;
George Jones, David N. stone, John b. Bonton White
law Reid, Watson Il. Sporty, Erastus Brooks James
W. Smonton. Stewart l.. Woodtord William Walter
Phelps, Clarkson ~ Potter and John A. Dix
After the cloth removed tho President OF the
Chamber, Mr. Samuel d. Babcock arose and amid
tho welcoming applause Of tho asscnblagc remarked
that more than century had passed since the first
dinner OF the ASSOCIATION. All lie recollec,ed about
that dinner that the absent members paid the
penses, which hvo shillings a piece.
In those days tho Chamber such
important body that the municipal government asked
its opinion ON almost every subject. including street
cleaning and The price Of meat. Mr. Babcock thought
1t would be well II the Chamber could have charge OF
these departments now. He ALLUDED briefly TO the
present distress In commercial circles which. he
thought, caused by the decentralization produced
BY an overissue OF paper money. What We need,
he thought, Is reform in the national, State
i form n the way Of living OF, Of The people
private hass great nesa 10
call things by their right names. We should under
stand that embezzIng" means theft and "A breach OF
trusp' robbery. (Appause) Our prison doors. which
open to tho degraded criminal should open wider 10
the educated criminal who proves recreant To trust
Ioposed N him. IN conciusion Mt baocock admins.
by reminding the assemblage that "bcvity 10 the soul
OF wit" with business
The remarks OF tho President werc received with
generous applause, mingled with scmo laughter, pro-
voked by the brusqurie OF his closing remark. When
silence restored, the first regular toast, .The
President Of the United States was announced to be
responded TO by Attorney General Perrcpont whose
remarks seemed to take rather satirca turn and to
have general reference to Governor Tdcn who occu
pied the seat the immediate right OF the President.
ATTORNEY GENERAL rIgRREroSr's ADDRESS.
II must be- he said, very delightful thing to be
President OF tho United States. Il am DO
very delightful He judged Of this IRON the fact that
many oil great sense are anxious 10 get 10 that
place. striving for it, taking all honorable to
gain it Some OF them are republicans some lib
era republicans. some. he lately found, are
reform republicans and others arc democrats
without any prefix He acquainted with
ono who was President Of the United States and
had had some talk with that gentleman upon he de.
lights Of the place. and might consequently be able TO
communicate to some OF those men who were anxious
u get that place how charming u was. Mr. Pierre
pont here skctched tho circumstances which led
to tho nrst election OF President Grant and
le alluded TO the general corruption that followed
the close OF Tho civil and TO the pcrience in
sa.asmanshp Of the solder who was elected TO the
speaker, "that he would make mistakesy That
would DO impossible. He will tell you that he has
committed plumbers, that he has made mistakes. But
when enomies have done their worst, and when tho
Pcntentiary has called all her witnesses.
Ms FRIENDS DEFY ANY MAN
find n blot upon his integrity. Aud II there Is any
who ~ thinking at all about that place.
Here tho speaker glanced syly at Governor 1ilden.
and his followed by the amused looks of tho
company. which broke out with uproarous laughter and
applause the serious and unmovcd countenance Of
that Is thinking NJ all about that place
h In that when General Grant has stepped out Of
II hc will look sercncIy on and see him ENJOY the
luxury and repose ana delights OF the place without
single iwlnge OF cnvy.o
Alter another eulogy Of tho President Mr. Pcrrc-
pont referred the that when he left tins city
year ago TO take place the Cabinet at Washing
ton trade. he told, depressed, but would re-
yvc in the TALL IL had not revived in tho all and no
had been told since entering the room that now when
the spring Is nearly past, It has not yet revived.
what lac asked is the troubles Crops were abundant,
mines prolific and population greater than ever. The
trouble, he said. lay in tho system Of currency
which had arisen. There could be val
independent Of the government and values
had shrunk because had not been good
One OF tho members had told the speaker that in
experience oil nity years he had never known New
York oppressed present That was because the
government had been 70 fraudulent, taxes so heavy,
and government consequently was made 50 expensive
that other cities come In and take our
that he could put down hslc OF goods
In shop In Chicago cheaper than he could In Union
square to-day "Are you surprised, then, the speaker
asked that trade goes 10 the Other cities when you
spend your time and money upon making costly parks,
unnecessary boulevards and other costly ornamental
which the city Will not MP for iity years
to come instead Of favoring commerce ana dong that
for which God and nature put you IN this placer zap
plsuse.j
why are we mol prospcrouss The reason is very plain
There Is proper relation between capital and labor
and credit capital and labor. There Is relation
between capital aud labor because confidence has de-
parted. The capitalist does know wha, will happen
week. lie not know that the money he
lends Will not be returned to him at some
future tune IN paper. As very Influential
with the settlement Of these difficulties You will have
much to do with the selection OF President
II you turn your attention 10 he selection Of
OF tired ability. OF unquestiouel integrity Of experience
in public Affairs, and Of the broad know edge which
comm ends hun 10 the country and then II you Will
elect HIM after you have selected him. The country VIII
again IN the prosperity which belongs 10 Il and
which will be greater than ever IL has been before
(Applausc.I
GOVERNOR TfLDES's srEEciL
The second toast .fbe State oi New York.
which responded 10 by Governor Tildcn, who rosc
amid hearty applause, and. alter some remarks com
plimentary 10 the association and Its newly elected
PRESIDENT saudi
We have hoard from the gentleman who last adj
dressed you the rather melancholy aud depIorsble ex
periencc Of the present incumbent Of the Pesdcn;as
chair loud laughtcr) confess as looked around m
that the statement appeared to dcprcss several
gentlemen here; but inasmuch as with his character
isc discretion your president has arranged all the
cmen who are thinking OF such things On the lett OF The
char and IN the order presume. OF thor prospects,
don't feel called upon TO discuss that subject daughter
and applauscL
AN MYSELF LrrTLE DEPRESSED
and yet little JOYFUL Tor left to-day IN Albany go
bills which ure 10 become laws and which have TO
pass on m the next twenty Dad days hut when
think Of the several hundred others which not
passed rejoice lI.auehter) rejoice when think
cannot add anything about our present commercial
troubles Inasinuch as the Attorney General Of our
I.epu lie has come tonight 10 put In
cognor'f ] don't that anything remains
bui to confess judgment Qaugh,cr) When my trend
skpdW bal NJ IN IN