Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1883-09-04
Senator sherman in charge at
Cincinnati.

&AANAAAAAAAa
Senator John Sherman was intro
duced to the Chamber Of Commerce in
Cincinnati last Friday as an honorary
member just elected, and he said;
Gentlemen of the Cincinnati Chamber Of
Commerce;
| return to your officers and to you
my most heRftieltthlnks tos the hono1
you have conferred upon me by making
me an honorary member OF YOUR body.
| have known about you tor years.
Although l have never been person
ally engaged in comm rcial purs uits
as you have, yet my public duties have
required me to consider and act upon
nearly all the questions in which you
have been engaged, l have been in
terested with you, not in q pocket
sense, but in a National sense,in every
thing that concerns and affects the
trade aud commerce, not only OF this
beautiful valley OF Ohio, but of The
whole United States Of America.
Now, gentlemen, | congratulate you
that you will have on the whole this
year, at the end of the harvest, 8 fan
and rea enable crop-in some respect:
a very good crop. | need not tell you
people what you have to deal with.
but il is sufficient for me to say nov
that the farmers work, which is the
basis OF all your work, is. by the bless.
ing Of kind Providence, bOuntiiul and
plentiful.
Then, besides, we have now secured
in this country, Tor the first time II
the last three or four years, as thu
agency Of your commerce, the best
currency that exists on the face OF thI
world. We have gold and silver coin
and plenty Of ii; plenty Of psper money
that is as good as gold, aud is alwsy'
redeemable in gold and silver. w
have faithful commercial agencies il
the form Of banks, that are in thi.
country better than anything in the
civilized commercial world. Gentle.
men, | say to you that there is no
oetter system Of finance than we have
nov organized in the United States
But. gentlemen, although | congrat-
ulste you upon thtse things, there are
some other things also that ought 10 be
objects OF warning and caution tC
business men. 1t cannot be denied
that in the last three, four or five
years in this country, large investment
have been made 10 properties thai
do not pay now. The development o.
our railroads., although an enormous
advantage to our commerce and t
the people Of the country, has gone
forward too rapidly for the capita.
and growing property Of this country
1t is, therefore, true that at this tint
there are a great many investment
upon the markets which do not pay
and therefore decline in price, ant
create hard times, and has effect, t
some extent, on the ability Of bushes.
men to make money. We know irou
experience that this is temporary
and it will be only two or three year
until the increasing capital ant
wealth Of this country will Absorb
these at present improbable invest
ments, and they will take their place
as profitable and income paying invest
ments 10 the markets Of this country
There is one other thing | feel a
liberty to mentio on to you. In oompli
snce with the instructions OF thi
Chamber, at the last session Of Con
gress | did ny utmost to pass a DilltO
the relief OF one Of the branches 0
trade largely represented in tbs por
ton Of our country tbs trade Of spirit
aud liquors.
Alter some considerable trouble vi
we're able to pass that bill in the Sen
ate. 1t was sent TO the House, bu
was not there pcted upon. My oouu
trymen, | feel in regard to the Jrafh.
10 liquor and spirits just as | do il
regard to the traffic in anything else
There may be, according to the judg
ment Of legislators, or according L
the judgment Of the people, a differ
aGt rule as to the taxation Of liquor
but in dealing with liquors as proper
ty acquired, on hand, that is bough
and sold in which you have invest
ments, it is entitled to the same pro
lection aud law as any other branc.
Of trade. feel bound to deal will
everything that the merchant or deale
Buys and sells, and which is the basi
OF money. by the same golden rule o
equal and ezs5t justice 10 all, aud thi
probably is sufficient for me 10 say
We knoE that the liquor traffic q d
not speak Of ii in It's common sens
hut in dealing With it in large quaint
ies) may be regarded in a someWha
different light as the object Of taxation
Il is property, aud therefore when tn
cry came up from this region ,
country that on account OF our Law
which requires the collection Of tn
tax on this properly and which would
in effect, belcobfscation. | though
that any tax on any property, whethe
D whisky or anything else that wOul
, amount 10 oonfscation and brel
t down an honest dealer, was wron.
= Therefore, | was 10 favor Of relief Il
the time being As matter Of couri
this property must psy just taxes
must be 80 levied as not 10 OPERA
5 with undue hardness upon any deaie
! | say to you now, that while / thin
liquor men ought 10 piy according
law, while | do not propose to mai
! any reduction in this tax, yet | vi
not myself vote for any Law. and | wi
vote to change any law bat amour.
10 ~confscation upon any property.
Gentlemen, / know you don't II.
long speeches. yet | would like 10 81
that, notwithstanding these draw
backs, the reduction Of the prize
Of investments all over the countr
, and any local troubles you mag hsy
Jet, after all, the prospects for bus
, ness are good, and you can 20 ahea
and act on that position. The geper
prosperity Of the country is unbouni
7. ed, aud It's growth in wealth is not
be compared With any nation, ancier
or modern / have been travelir
East and West aud Sourh and | Ga
i, everywhere the same general indie
|, lions of advancing, increasing pro.
, perity.
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