New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-07


field for the conduct and management OF ths great com
mOnwealth, aud for the Advancement or ls power ana
influence. TO young men what noble heritage ~ 10!
The Exchange offers 10 them her rich rewards goluen
fruits industry noble character for seresrtnt hon
witch these gifts command. And 10 al-age manhood
and yOuhshe ntrusts her past her present and her W
ture. Continuous aDplause.l
GRAFTON BY CHAUNCEY ". DEPEw.
The presidents address was followed by a waltz
played by the band, and then Mr. Herrick intro
duced Mr. Depew, the orator of the day, saying:
"The eoquence and genius of the orator of tho day
are 80 well known that a formal Introduction il not
alone unnecessary but uniting" Mr. Depcw was
received with great applause He made the follow
ing address;
Mr.. president AND GENTLEMEN: The open
ing OF this Exchange marks an inn ortan era In our Ma
' io wouid NOT have Lazar,cd the production
that thirty years the merchants of this city engaged
only i'm the hindlng OF domestic food products would
have required and possessed the resources to build
palace OF commerce costing three millions Of dollars.
The modest rented room which met all yonr wants IN
1860 expanding into this superb structure in Ss4 Illus
trate5 the agricultural and commercial progress OF THIS
country in the last quarter Of century inc starting
spendOr of facts reduces 10 ordinary experiences the
wild creations OF the Arabian Nights lApphuseI rms
Exchange an example OF h0Y the Things most uIeueu
by our fathers are welcomed and utilized Tor ne most
benciccn purposes in our day. The one nightmare aus
tIrbng the dreams OF the past was me dread OF central
among rs wclhedr an occasional eGAo OF G o." UNI M
cry. But out Of the cyil war the kepuDuc one' Nh
more roycr in tho General Government than me
Fedrralists demanded, and the grave o. ~ are
has grown an intense and absorbing Nationasin rms
tendency seen IN older countries in the unity OF Ger
many and italy, and OF peoples OF common race ever!
The same principle prevails in trade But instead of
the evils anticipated it has made possible the WohHrru
results when we mere III Plit ctlcDi ttc. mas 80
the land with the network of railways wmch carries the
the virgin fields and distributes the world over
the products OF MS industry IL mas Dlt llt
and tho telegraph. II proves the immortality o. man
lures He is never their victim, but always their master
and his FrankCnseins are the useful servants OF MS
non al
It was possible fora single man to grasp al the agencies
necessary FOR business success aud night hls way alone
with limited But now thdt Steam apPlcn lo
@ D dga I Eefwcop thS piaea Of supply ana de-
mand now that the conditions OF all the markets OF the
world known i'm every market during all the hours OF
Change that the merchant must know The prospects
of canning crops the supply on hand at home aud
abroad the price Of money in America and Europe me
hucuating freight rates 10 times Oh railway
troubles except for Exchanges Ike tins, all business
would be concentrated in the hands OF rev men Tih
enormous capital But Just mere conlnlIatloS I'm, my
yours the dangers and receive the Dement'S OF these
tremendous conditions OF modern trade your aSSot'a
ton reaches out ana gathers te lnormdtlou' II pTo, "a
the hands all its members alike the factors OF the Dus
problem and then is not S 80 Ghc S
success. then every one with an equal chance acGoaons
a fortune. Applause.
COMMERCE AS A CIvILTZGNG POWER.
Thus commerce becomes in our civilization the strong
est force conservation OF law, order and property
There nothing under the sum- and our freshly I'M
ported socialists and communists in their wild rawlings
ired OF earlier times without knowing their history or
possessing their Justification Most OF the great landed
estates Europe acquired by the ancestors OF the
present by cOnquestS marked with all the nor
rors of arson slaughter and slavery. The natural re-
vusi0n Of the Saxon farmer filling his own acres Tor
Norman master with the iron collar OF serytude ryeted
about his neck was to the destruction of everything
which represented or strengthened the dominant class.
But with the absolute equality of all men before the law,
with the prohibition Of primo gcnitre ana entail and the
tying OF vast estates Tor generations WIN a Lhe
avenues Of honor ana thrift open ana o9,ruetc IL9
for the revolt have passed away Two hundred
years oncquartcr OF the population OF scotland was
begging nom door 10 door because ueic "cl. nun ~
yeIsitics Of labor and therefore no employment me
great Industrial trouble to-day III ireland Is Tue p0ioy
which has kept her purely agricultural ana deprived hef
Of manufactures and trade .,,, .,, ,., ,,,,+ .+to
accumulauons WHEN make possible great enterprises
prosperous manufactures, the opening and working OF
- ~ rtG bo H,r~c and tbe IooG are necessary II
great populations to be maintained, made happy and
VINO ms no - iHd,y mii ' I tr or S br 70
level all property stands in the way of the welfare and
rise Of MS children lAppI'nse fhe fortunes ana mis-
ou. all prove that while no man viii Willingly give
Ills work and brain. that others may live at his expense
If what he honestly is his own then the universal
incentive for fortune for competence Tor homestead,
for pro, sion FOR the family ana the helpless and pelo ed
produces the marvellous Development Of material re-
sources. and tho frequent and remarkable example OF
individual prosperity which are the pride and wonder OF
Commerce demands for its operations first Of all
security No pirates by robbers by land may prey
upon it, Neutral states and warning Territories must re-
spect and. insurance protect it from losses by the ee
ments And so we have that confidence winch begets
credit the handmade OF enterprise, courage and brains
with credit men OF capacy oIstIR the ,Iqw ana eau
uous movements OF capital ana IN the utIza ION ana
eucouagement Of invention and discovery agriculture
manufactures ana the trades OF oVery knd receive new
development and Impetus inc other requisites are
freedom Of labor and adequate and reasonable transport
ercol centres he nfseres and asyinms Of liberty and
civilization The Ph@ncian traders the tQreatneTs OF
the mod merchants, built the splendid cities OF Tyre
SdOn ana Carthage which the homes Of the arts and
the barriers TO de-potlSm. The supremacy OF Greek
letters and liberty due to the commercial Instinct OF
the race while the Warlike Roman, conquering and de-
stroyng after another all the ancient narts OF trade
reduced the people to barbarm and poverty and In his
despair the barbarian sprng at the throat or his op-
pressor an1'srangled him.
the Middle Ages whore the Robber Barons pundered
ana outraged an without their castle walls. The world
merchants the IIu,eatic League ana the cities Of
Holland preserved freedom, saved learning, rescued
the League after five huudTedyears OF successful struggle
sul,rcd autonomy to il smarc idea and the Ger
man Empire il the last and most fitting concession
the triumph OF law and the security or commercial
rights in modern government 1t was o commercial
dred millions Of subjects 70 the British Crown II Is
commercial enterprise which SUPPORTS Stanley on the
COMO and adventurous explorers all Africa and
which will bring the DARK Continent and It's people
within the lines Of CIVILIZATION ana Chr'tldhlty' Jap
plause.l
INCREASE IN FARM PRODUCTS
Having secured all the elements necessary to ts sue
ccssfu pro scuon, trade is no longer monopOzed by
great companies like the East Tuda the South Sea and
the Hudson Bay. The individual emancipaed and free,
asserts himself in business in the state Competition
stimulates and limits his enterprises lApplauSe.l BY
far the greatest and most important branch of modern
commerce is feeding the toing millions for whom our
complex civilization has afforded other occupations than
tng the soil The mitless acres our prairies and In
valleys brought by rail within easy reach OF the sea-
board and by steamer I'm close connection with all the
III tt1rfFr Of
supplying food for the world and draining its wealth into
our industries and treasures Have we the statesman
ship, the patriotism and business ability to profit by the
situatiOnl few figures will illustrate by what rapid
steps have reached this power for enormous prOduc
ton In 1850 there 100000 farms in the United
states: 1850 there 100000; in 1880 raised