The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-07-23
SECRETARY SHERMAN.
sprrcu OF THE HEAD OF THE TREASURY De-
pARTMENr TO THE SOLID MEN OF BOSTON
A rLATrERING PICTURE.

sPEEcH OF THE HEAD OF THE TREASURY De-
pARTMKNr TO THE SOLID MEN OF BOSTON
fLArrERING PICTURE.
10y TELEGRAPH TO THE HERALD.
BosToN. July %. 1879.
The courtesies extended to Secretary Sherman in
this city have been lavish and evidently sincere.
Boston has always been conservative in commercial
matters and, being moneyed centre. has ever
looked with favor on men who identified with
movements that steadied the national currency and
rendered the possibility of wild speculation and
reckless financial legislation impossible. Conse-
arently Secretary Sherman rendered special
honors rs the advocate and successful ex-
eeutor OF the resumption OF specie pay
ments. About hundred and twenty-five
persons sat down to lunch in the Parker House at
Que +. NJ. There present besides Mr. Sherman.
Attorney General Devens. Mayor Prince. Collector
Beard, senator Ropes. Mr.. Jonas IL. French. Mr..
John W. Calder. Ex-Governor Rice ana 100 mer-
chants.
MR.. sHERMANs SPEECH
Mr. sherman was very cordially although not en-
Enthusiastically received rising to respond to toast
in his honor He devoted his attention CHIEFLY to
the financial question and gave some very lucid IL
Illustrations the practical workings of resumption
There were several strong points in .he address
which were roundly appaudod. For instance, he
Baid:-
Above all others you, who engaged in broad
commercial pursuits extending to ali parts OF the
civilized world, most interested in sound cur
rency aud untarnished credit. Credit is the life or
trade the foundation OF commerce. without which
the great transactions i'll the commercial world are
impossible. sound currency is the chief lmpie-
of trade. 1t is the yardstick. the gauge, the
measure. the weight. the tool OF commerce. No
mere irrcdeemabe promise to pay can answer the
purpose OF commerce. The measure OF value must
have value itself 1t is matter OF consratuatloh
that after being tossed and driven by the e1sences
Of now have good money and good credit
ard with this as the commencement we may reason
life. Commerce, however. requires something be-
sides money, railroads and ships
PRODUCTIONS.
The commerce OF this country depends upon its
productions You are but the agents to scatter the
productions the and the workshop. and
your prosperity depends upon their extent and
variety; and here again the most fortunate
nations. Our productions Of all the great articles
essential to home lite more varied and abundant
than those Of any nation or ancient or modern times
You have to deal with 14OO 900 bushels OF corn,
bushels OF wheat 10000 600 bales or cot
ton. infinite variety OF the production and fruit
the SOIL and constantly increasing the variety
Of all kinds of manufactured goods. No figures can
convey idea of the magnitude OF productions.
III this country you the agents OF the farmer.
the mechanic and the artisan. by their labor you
enabled to purchase in return the COM
modities of every country aud the fruit OF every
climate. Every year the diversity and magnitude of
our industries increase more rapidly even than our
population and year by year the skill of own
workmen displace that OF foreign nations but does
not lessen the aggregate to trade and commerce.
Our free American institutions rest upon TINS pyr,
amid. All ACKNOWLEDGEMENTS credit and
money-are essential to the development and growth
OF our country.
Secretary Sherman advocates increase in the
strength of the national government. that all
citizens might be protected in their rights. The
Secretary followed by Attorney General Devens.
Mayor Prince Ex-Governor Rice, and others.