Savannah morning news. [volume] (Savannah) 1868-1887, 1883-08-06
NoRVTN GREEN IN LONDON.
Western Unions President Dined and
Toasted by British Capitalists.

dinner was given tonight in honor of
DIR. Noryin Green, President of the West
ern Union Telegraph Company. by the
Chairman and Directors of the Eastern
Telegraph and the Eastern Telegraph Ex-
tension Companies, at the Star and Gar
ter, Richmond. Mr.. John Pender pre-
| sided. DR.. Green, replying to a toast
acknowledged the distinguished honor
paid him tonight and the cordial hospitali-
| ty he had received throughout his soiourn
in this country, land his indebtedness to Mr..
Pender and the entire telegraph fraternity
for constant attentions.
he had seen something of CITY and
! country, and found our mother country
] kind and agreeable and was 10th to
leave her. He everywhere saw culture.
thrift and progress, power and dominion
| of land and sea, but the sheet anchor of
strength was the latent wealth of the
| people and their money investments
throughout the world.
Here was the money centre where every
| conceivable industry and enterprise in
/ every country was owned and controlled
| Here, mightier still, were made the i'm
mense investments in the bonds of every
| country, which, amounting to $4,000. .000-
600 in the United States bonds. must be
| triple that amount in those of other lands.
America was paying England $12O, ,000, 600
interest per annum, the greater part of
Ddla0Ce
| her favor and the profit thereon.
/ Almost every State and county in the
! United States has some part of its domain
mortgaged in the interest of British bond
holders.
America had not done i'll by making
| these heavy liabilities. She was a Young
and growing country, with vast undevel-
| oped resources. Railroads had vastly
| advanced the worth of her productions.
! hol
never could wait. We had greatly bene-
fted by these loans, and could we'll afford
to pay the interest. We are a fast peo-
! pie, pushing on in the Eace for wealth.
The English are slow and thoughtful, and
are never in hurry. With us things
move so rapidly that if one is not in
hurry, he gets left.
He pointed to the great progress made
during the last sixty years in the practi-
cal arts, useful inventions and improve
ments, particularly in America. He was
naturally proud of his own country for
| having given to the world the electric
telegraph, the telephone and the electric
light. And what wonderful revolution
had the telegraph caused IN the modes of
communication. The public had been
slow with its belief in it. and slower with
its patronage. 1t now could not do with
out it.
Its greatest extension was within the
last seventeen years. The cable COM
panies extending him this hospitality to-
night could girdle the earth with the
length of the cables they had laid The
| Western Union Company had increased
It's plant tiVe-fold, spanned a third of the
earth and had sufficient wire to girdle it
| fifteen times. In the meantime our capi-
tai stock had been increased only two
fold. With $4,000 miles of wire it was
$4l ,0OO, 900; with $4,000 miles, it is $780,
100000. The market value of our shares
was 40 to 60 per cent. They are better
worth par now than 40 then.
He believed that telegraphy was still in
its infancy. Many important uses had
yet to come. AS an interest saving melhOd
1t must generally be used for bankers
drafts, and bring about more intimate
commercial and speculative relations be-
tween the two countries. The hours of
the exchanges in London and New York
must conform, so that those bodies may
be in session at the same time and con-
nected by cable. This would result in
vastly increased uses Of the telegraph.
There was, therefore, no property more
secure and no enterprise more promising
than the telegraph. Its necessity and
usefulness must continue to increase in
popular appreciation.
DR.. Green continued as follows:
And now ! come to bid you grateful
farewell. have enjoyed much of your
hospitality and had many occasions to
drink with you to the health of Her Mai
esty the Queen, which | have uniformly
done with hearty good WILL for, if you
must have Queen, you certainly have
one that Englishmen have reason to be
proud of, as being honOred and respected
ali over the world, alike for her wise and
prudent rule, for her very exemplary
court, ann for her noble and generous
banevOlence. My criticism upon your
form of government is not that you have
sovereign, but that you have
but one. We have 50,000,O00 of SOW
ereigns in our country and are rather
partial to them. The title may be less
appreciated because it is common to all, !
but yon know we have no title below the
rank of sovereign. Still it is rather re-
markable that, with forms of government |
so essentially different, there should be |
such similarity in freedom and the laws |
and in the general promotion 'Of civil and |
religious liberty and protection of life |
and property. In these higher aims of |
government England and America and |
the AnglO-SaXOn race march hand in |
hand. May they continue to cooperate |
in peace and amity till the English tongue |
shall become the current language in |
every civilized country, and these adj |
vanced principles of the English speak |
ing people shallimpress themselves every
where -