The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-12-24
Last Nights Dispatches.
NEW YORK.
THE NEW ENGLAND SOCIETY
DINNER
SuERMAN's SPEECH.
He Eejotces at the Fulfllment of the
Pledge OF Resumption.
suERMAN's SPEECH.
Status of the areenback Hereafter.

Status of the Greenback Hereafter.
New YORK, Dec. 23.-At the seventy
third annual dinner of the New England
Society to night, many distinguished per-
sons were present, among them Secretary
Sherman, Secretary Evarts, Rev. DIR.
Storrs, Gov. Van Sandt, Senator Blaine,
DR.. McCosh aud DR.. Potter. After the
cloth was removed President Appleton
gave the toast, The day we celebrate, ;"
which was responded to by Hon. VIM. Nj.
EVarts, After referring TO New England
and her institutions, he said: With our
harhihood, skill and industry We are a for
midable opponent in the world of competi-
tion. If we wish to build ships, let US build
them. If we wish to buy ships, let US buy
them. Let US enter into the harvest and
reap it. But let US understand that none
OF these processes are to be carried on ex-
cept by the same courage aud self denial
which made the outcasts of the old world
the great nation that we are. The whole
country is now ready for trade and com
merce.
The toast, ''The Clergy of New Eng
land, was responded to by the Rev. DR..
Storrs, and SenatorBlaine spoke in re-
sponse to the seventh toast. The Pilgrim
Fathers" In the course of his remarks he
said New England ought to consider what
the west has done for her. 1t has moulded
and developed New England, and just as
New England reacted on old England the
sons of New England who go west react
upon New England, and its ideas have be-
come more potent by the fact that the or
iginal source has been acted upon by the
streams which return to It,
Secretary Sherman, in response to the
toast, The National Faith; to be guarded
as watchfully as the national life,' after
claiming heritage in Plymouth Rock and
Bunker Hill, said:
Public faith to a nation is like courage to
man or chastity to woman. Ii must be
beyond suspicion. The nation that will
not observe Its public faith when pledged
Is dishonored and ought TO be strick en- from
the roll of nations. Nothing can excuse a
violation of public faith except overwhelm-
ing necessity, which knows no law All of
US will agree to tins axiom, but as our Pu-
ritan preachers would say, The difficulty
is in the application" Questions have
arisen upon the construction of laws rela-
tive to the public obligation, upon which
men have have honestly differed, but one
thing was always clear and uudisputed,
that the national faith was pledged to the
payment of the United States notes 10
con The time when it should be done,
and this only, was a question of public
policy. The public faith was pledged with
issues of notes in March, 1862 1t has
been repealed by congress, by both politi-
cal parties, and was made definite by the
resumption act. rejoice with you that the
time is near at hand when this pledge is to
be fulfilled, and when all cur money will
be kept equal in purchasing power with the
best gold coin issued from the mint. 1t mas
been hard road to travel, but when we
we're driven from the specie standard by
| the necessities Of war, it was certain thai
we must return, and that when we did il
would be with difficulty and suffering. W.
delayed too long the voyage. We wasted
our resources 10 uupT0ductive enterprises
and riotous living before our people could
| be induced to attempt the task. Now tha
it is nearly accomplished its maintenance
will be easy or difficult precisely as the bus
iuess men Of this country. and chiefly O.
this city. make it So Congress. heretofore
Doubling, waits 10 hopeful expectancy O.
the maintenance Of resumption. Tht
supreme court is. | believe, uuaul
.nously in favor of restoring coin as th,
constitutional standard of money. Tn
tpresident of the United States will nc
o1ly enforce the resumption act, but ha
an abiding faith iH its easy execution. Th
powers invested 10 the treasury depart
ment are ample to meet even an extrem
emergency, but | do not anticipate an
necessity for the full exercise. Coin wi
Uot be largely used in the ordinary trans
actions of business, but other forms c
money strictly limited in amount to a SUI
, that can be maintained on par with col
can be freely paid and accepted as none
in all transactions and for all demands
The necessary confidence that will max
this easy will depend very much on me
; who like you in great marts of trade
handle the productions of our whole couI
try. If you, guided by the public good a
well as enlightened self interest, will SUI
port the policy of resumption, the otes
the United States, link in its bonds, WI
travel with increasing credit the circuit
the world. These notes should be r,
garded, not as heretofore. as irredeenab
and deprecated money, but as coin cert
. ficates of great nation, rich in mine
{, workshops and broad fields, aud richer sti
: in untarished honor. Every man shoul
!, feel that to aid in this is matter of prid
y to retard it just matter of reproacl
: You may be sure the executive branch
4 the government will do its full duty
g maintaining resumption. 1t will rest wit
: the business men of this country to NAL
d it the beginning Of hopeful prosperit
g He concluded by expressing belief in q
s honest dollar and honest ballo:, and pa
d ing tribute to the soldiers who sacrifice
o all that we might have everything.
# After other addresses the proceeding
2. terminated.
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Y Quinn,