The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-15
THE MERCHANTS BANQUET
A Rare Gathering of Solid Men
at Delmonico's.
PRESIDENT HAYES SPEECH.
Secretary Evarts on the Commerce
Of the Nation.
THE CIVIL SERVICE.
General Sherman in Defence of
the Army.

around lis annual banquet were so many illusrious
associations ana such gathering OF representative
men assembled at Dclnonico's last night to
celebrate tho one hudrcd and ninth anniyer-
sary OF its organization. First IL was a
rare II not Isolated incident in the career
OF tho Chamber that there was present
the President OF the Unitcd States three members OF
his Cabinet and The General in command OF the armies
OF the Unon, and. secondly il was something 10 hear
these gentlemen after the heat OF political
campaign revealing, with no uncertain language, tho
plans and purposes Of their administration, and using
rs thor vehicle the financial social aud public inlu-
encc OF body thoroughly potent and Individual in
Its character.
BANQUET.
Tho banquet was in keeping with the we'll known
reputation Of tho celebrated host by whom 1t sup
piied and nothing left neglected that could be
required by the most exactng TASTE The floral deco
ratons were arranged under tho directions Of Mr.
Pell, Secretary of the American Exotic and Botanic
Company A noticeable feature was the entrance to
the dining hall, which consisted OF u bower OF flowers
and trailing vines ferns and smax, under which the
guests marched IN from the parlors to the lively
strains OF Lander's band. Brackets we're
suspended at intervals along tho walls be-
tween each OF tho largo pier glasses,
upon which were placed specimens Of fine
foliage and lowering plants Upon the tables were
novelties their kind and these alternating with tho
handsome pieces OF the confeconer made tout en- :
sembte that ELECTED tho compliments OF all present.
Among tho more elaborate candy work which adorned
tho table Of the President and invited guests
facsimile OF the Brooklyn Bridge, clipper ship and
the first train OF steam that rode the rail In
America. About two hundred and fifty persons were
present. Of whom tho following some Of the prn-
cipal churacters:-
Mr.. Samuel D. Babcock presided, and on his right
were seated His Excelcncy Rutherford B. Hayes,
President of the United States; Hon. lillian NJ.
Evarts Secretary OF State; Rev. Richard S. Storrs,
D. D. Ex-Governor John I. Hoffman, Hon. Richard W.
Thompson, Secretary OF tho Navy; Ex-Governor Rcu-
ben l.. Fenton Hon. Carl Schurz, Secretary OF the
terror; Hon. William T. Dodge, Hon. David A. Wells,
on his left were seated General William I Sherman,
United States Army Mayor Ely. Hon. Charles o. Conor
John Jay, Ex-Governor u. d. Morgan, Peter Cooper
Major General Winfield S. Hancock Uuitcd Staes
Army, and Commodore J. W. A. Nicholson, United
Among other invited guests were:-Hop. John Jay
MIN Congregation. Fernando Wood, Hon. benjamin
Willis Hon. s. b. Chitterden, Hon. A. NJ. Bliss Hon.
Arson g. McCook Hon Anthony EickhofL Oi the
State Legslature--Hon. w. H. Robertson, Hon. l..
Bradford Prince, Hon. John II. Kcnnaday Hon. Will
lam b. woodn, Hon. Alfred waes.an, Hon. James W.
Hustled, Hon. X. Ii. strahan. or the Judicary-Hon.
Moan DAVIS, Hon. L. L. Fanchor, Hon. Charles r. Daily,
Hon. William T.. Curtis, Hon. a. X. Lawrence, Hon.
ccrgy-Rev K. s storrs, D. d.. and Rev. Theodore l..
Cuyier, D. D., OF Brooklyn; Rev. William Adams,
D.. D.. 2ov. Roswell d. Hitchcock d. D.; Rev. Henry
w. Bellows, ID. d.. and Rev. Frederick Courtney. OF
the Bar--Joscph H. Choate, Hon. William Allen But
r. George il. Forster, Hon Chauncey ~ -Dcpew,
stewart l. WoodIord United States District Attorney,
New York; Hon. Asa W. Tcnney, United States Dls-
ro cs Hon Chester H. Arthur Collector Of the
Port. and Hon. George IL. Sharpe, Surveyor Of the
Port
The cloth having been removed, the following in
troductory remarks were made by Mr. Samuel ID. Bab-
cock President of the Chamber
GENrLEMEN--Wo meet to conf cmorate the 10Jth
anniversary OF the Chamber OF Commerce OF the
State OF New York.
ourselves unon tho presence here tonight oil large
representation OF distinguished public and professional
coming here IN the face OF such warning
MS they have received IRON the press OF
the peris they would encounter In meeting
with u.s. Lot the gentlemen, that to secure
thor safety we have a strong delegation from tho
clergy, the Bench the Bar and the army and we have
also prominent member OF tho medical profession,
who has his implements with him and IS ready TO
practice anybody who may require his services.
Our friends. as they look upon the members who
surround these tables, will ail TO notice any signs OF
extreme age or decrepiude, still less Will they per-
ceive any Indications OF depression or embarrass-
men,, but feel bound to say, that at previous
period the history OF the Inst thirty years has tho
business OF the country been more depressed and
satisfactory than at the present time.
Twelve years have passed since the termination OF
evil and while IT resulted in releasing rcm
bonds 00o, 900 OF human beings IL inflicted upon US
system OF financial measures which has since put
under bont:s 40,000 900 Of people. Human ingenuity
has been TO the uttcrmost TO furnish titles Tor
the numbericss descriptions OF these securities lake
frst the government There have been
The s,senSacS and ants rs promise made on. meyer
aud the long skies, the sevcn-three tenths tho
hve-twcnties the tenorties, the four and onehalfs
ana hves and II Secretary sherman has his way after
while will como the fonr-cighics and the three
sixty-nycs Then turn TO State securities IL
quirc something which opportunities at least the
rate Of interest the Epgish consos, take Alabama
twos, and from them you can rise by easy stages 10
viii NOT dwell upon the attractive assortment OF
county and municipal issues, whose name Is legion,
but will pass 10 the wonderful variety and inexhaus,.
affords; here you can lind first, second,
third. fourth or 9th mortgage, or guar
antccd bond which sometimes proves to
be undertaking the part OF company that II
ano her company fails nobody else can nc found 10
pay tho debt then there IS the Income bond TOO often
Qepriving the investor pt the very income which ~
purports give MIN then comes the lard grant bond,
which might IL some cases b. termed more properly he
land grab; OF all the varieties however, the ConsoH
dated tho captivating; It's very name Drcathcs
OF security 10 often made payable al the pleasure
of In. payer after twenty or thirty years. bat not
frequently TO be pleasure even to Pay the
Interest.
II il only just to say tia, the policy under which
Of these various sccnritics put ~ circan
tIon wag selfish exclusive On tho contrary We
have generously allowed the people Of other countries
vcstmcnts which make W IN pcrnancacy what hey
lack in security
Now II is strange, gentlemen, that under this huge
pile Of Indebtedness with the oppressive taxation 10
which II has given risc amounting in The aggregate to
nearly TOO 600, 900 annually, ana with the unsopnd
and cxtrayugant management ol public Affairs and
private interests which II has causcds u strange,
say, that commerce and great industrial
interests crippled and angasbing.
II we fully realize these ovls cannot faii 70
that no permanent relief nc fonni until such
remain OF lnc nonstrous ana wild speculation Of The
unyn l,I-
,util upon sale sound foundation OF lruyaty ADD
thrift our natural clements o rccupcf alton and growth
may expand into = snro and healthy progress, and lilo
and prosperity shall be restored to ali tl.c varied
interests Of every section OF this great country.
The president announced the irst regular toast
of tho evening President OF the United States
it with the remark that this wab no
ilrsi time IN tho history OF ihc thamocr thai that
iust rious olIicial had responded 10 toast
slmilur OCCASION
SPEECH PRESIDENT.
His Exccllcncy rising was received with round
unnn round ol applause, which be GRACEFULLY ncknowl.