New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-07-23
MIR. SHERMAN AT BOSTON.
A SPEECH TO COMMERCIAL MEN.

THE VALUE OF SOUND CURRENCY AND UNFAIR
NIsHED CREDIT-INCREAsED DIVERSITY OF OUR
INDUSTRIES.
Boston, July 22.-This morning Secretary
Sherman, company with Mr.. c. NJ Clapp, treasurer of
the Commercial Club. whose guest he was Monday
night driven through portion Of the citys suburbs
at l o'clock they met at the Parker House almost
the entire membership Of the Commercial Club. Among
those present Collector Beard Mayor Prince John
". Gambler Judge Lord Edward Sands, Attorney-Gen-
eral Devens, Ex-Governor Rice, Henry p. Kidder and
others. During the dinner Mr. Gambler, in few re-
marks introduced Secretary sherman. who made the
following address:
Obligations to the Commercial Club Of Boston Tor the
cOurtesies they have so kindly extended ne-not AS
personal compliment, but because atn In sympathy
with its members in the general views entertained by
them in favor of sound currency redeemaDe IN com.
have twice accepted your invitation but have been
compelled by public dulles to REVOKE my accepJahcei
and now that lam passing through Boston during my
brief vacation, avail myself OF the opportunity to re-
you my thanks and 10 express my regret In not
having b en- abe TO De pTeset on w Occasion 81 te
all others, you who are engaged in broad COM
W WoTd are most nerestsd in sound currency
ana untarnished credit Credit is the life Of trade,
the foundation OF commerce. without which the great
transactions in the commercial world are impossible.
sound currency is the chief implement OF trade, II Is
the yaFdsck the gauge, the MEASURE the weight tho
tool of No mere irredeemable promise to pay
can the purpose OF commerce, the measure Of
value must have yaue IN Itself. This simple maxim, so
much disputed by visionary men, Is felt 70 be true by
every one engaged in fore gn or domestic commerce,
The ready interchange Of commodities between all parts
country and foreign nations Is the employment OF
commercial men, and this extends not only 20 old high
ways and canals or commerce. bus 10 vast modern agen-
ces which have reyOutonized the course OF business
and made more important than ever untarni.hed credit
and sound currency The smaller wants OF life may DC
supplied by barter but good money good everywhere,
and established credit are Indispensable to great trans
actions.
and driven by The exlsenGes Of war we now nave good
money and good credit With this as the commencement
we may reasonably pope or success aud prosperity Ia
something besides money, railroads and ships. Inc
commerce Of country depends upon lts productions
You but the agents to scatter the productions of the
farm and tine WORKSHOP anu your Prosperlty uepen.s
upon their extent and variety And here again We are
the most fortunate OF nations Our productions OF al
the great articles essential to home life varied
and abundant than those of any nation or ancient or
bushels of corn, 400 100000 bushels Of wheat 100000
cotton infinite variety Of the productions and
fruits Of the SOIL and constantly increasing variety OF all
kinds OF actured goods No figures convey any
idea of the magnitude OF productions In TINS cOnn
try you are agents OF the farmer the mechanic and
the artisan. BY their labor you are enabled 10 puJ
chase return the commodities OF every country ana
the fruits Of climate. Every year the'dlyersty
magnitude Of industries ncrease-more rapidly
than our population-and year by year the ski
OF own workmen dspaces that of foreign nations
but does the aggregate to trade and com
MERGE free institutions rest upon this pyramid of
tial to the development and growth OF our country.
But more important than all these, more important
than gold silver, wheat or cotton or ships or rdl
roads, the rights liberties and franchises enjoyed Dy
people. In theory our system OF government is a
equal with other restraints than are necessary TO
preserve the peace and good order OF society and with
While this is In theory, sorry to say 1t Is not
entirely in fact. All men do not enjoy equal rights
The love OF liberty and justice does not prevail IN
s parts OF the country The schools and colleges which
you enjoy and which are the foundation OF your great
ness estab In all parts OF country but
other sections have advantages which you nave
not. Trey have far more fruitful soil more
genial climate, vast uncuyated areas ready FOR tue
plough, undevelOped mines, capacity Tor prOduct0n
compared to which the valleys OF the Nile ana Dahupe
nra a. milf "A q
power OF the National Government IS ACKNOWLEDGED,
population and advance of prosperity. We all know
that the business men OF Boston ana other eastern
their energy and money have aided to build up the
great cities OF the West. to extend lines OF railroad
reaching Into every state ana ,a' IN ere aS
community, and the influence Of your Institutions Is
cultivate the broadest National feeling so that the
men, women ana children OF our country may go any
where within the limits of the United States,
evprywh respected, everywhere protected equal
to each other; aud by minglng their ideas, their
arpa a the great ideas OF the founders OF our
ment, that liberty, equality and fraternity may exist
among American citizens wherever our NatlonaI Julls
dctlon extends ana that all alike from the North and
the south, Will look upon the National G0yernment as
the supreme protector ana peselEer OF All tuer rsuts
and privileges rs citizens OF "a cOmn"n country
AT the conclusion of Secretary sherman's remarks,
which received with prolonged applause, General
Devens responded to calls Tor speech, saying he was
glad to be present and 10 take part III
this testimonial to Mr.. Sherman. He felt that
when that gentleman made the assertion that
he made two years ago, he meant to
do what he said. He quoted Mr.. LincOlns remark that
the shermans could be trusted do what they said they
would. lie glad that resumption had come, and
believed that its effects could already be seem Its
effects as yet were scarcely felt but he thought 1t
would promote commerce and agriculture and manu-
features in healthy manner, and as 1t has not for
years past bringing reward to every branch OF in
dustry We are, said. equal footing with the
other peoples of the world Brie speeches were then
made by Mayor Prince Ex-Governor Rce, Henry L,
Kidder and Others after which the proceedings were
concluded " .
This afternoon Secretary Sherman took q drive 10
various points or interest and tonight IL the guest OF
Assistant Treasurer Kennard. Tomorrow morning he
will leave for Portland.