Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-12-30
GRAND BANQUET.
Senators and Representatives Enter.
tained at Dinner by the Boston Mer.
chants Association-The Tariff and
Banking system Discussed.

BosToS, Dec. 90.
The merchants of Boston have today been
hooored BY visit of several prominent poll
tcians, among the number being Senators
John Morgan, James B. Eustis, Geo F.
Hoar, Eugene Hale, Henry L. Dawes, Rep
resantatives A. A. Rsnney, E. B. TAYLOR.
Andrew G. Curtin, w. W. Morrow, H. A.
Herbert, W. P. Hepburn, john d. Long,
2. A. Collins and others They have passed
the day in visiting prominent points of inter-
est and paving respects TO distinguished offi-
ciais of the State and city.
In the afternoon they were welcomed by
the Boston Merchants Association officsrs,
who entertained them at the Veudome. when
an Informal reception occurred from 3 TO 4 As
during which time the politicians chstted on
political matters in groups in the parlors and
corridors.
After the reception, the party, to the num-
Der of 800, entered the dining hall, where a
princely banquet was served. Seated at the
table OF honor were President VIM. B. Wood
and upon his right were seated Gov. Robin
son, Senator Morgan, Representatives Tay-
lor and Ranney of Boston, Senators Eustis
and Hoar, Representatives Herbert and Hep
burn, Senator Hale and Gov.-Elect Ames.
Seated at the tables were the most promi-
neDt merchants, bankers, statesmen and pub
fishers of Boston, among the number being
Collector Saltonstall Hon. p. A. Collins,
Hon John ID. Long, Gen. N. P. Banks,
Postmaster Corse, A. Shuman, Eben ID. Jor-
dan, Jr, Curtis Guild and rhos. Hart.
At he CONCLUSION of the repast President
Wood made pleasant address upon busi-
ness, concluding bv aluding to the fact that
the world is governed bv sentiment, which
hp meH al
tons business men Gov. Robinson was in
troduced and amid continuous rounds of ap-
plause he greeted the distinguished guests
and merchants. Among other things he
SAID:
Il give the distinguished guests the free
dom of the Commonwealth. Whenever we
bring our minds to great questions that con-
tcern our Union, We are as deeply interested
as the citizens of our sister States. Great
good must come OF such . meeting as this
The Merchants Association is entitled to the
gratitude of the country. Last year its
speakers spoke upon the silver coinage, tariff
and other matters, and this year we have but
one question left and suppose this associa-
ton has settled all the rest. l AM glad We
are here to settle the questions of the tarid
and banking system"
Mayor O'Brien followed in an address of
welcome to the visitors.
Hon. Geo. Nj. Stearns, United States dis
trict attorney, responded to the toast of
UNITED States of America" One Of the
greatest questions to be considered, he said.
is the fact that trade is trampled
upon and prosperity is impeded by the weight
of taxation that is imprompted and unnec-
essary. What the United States wants is \
new suit of clothes, so let US reach out and
provide it. What would it be if this country
was free? Why we would .ell furs to lap
landers and manufacture antiquities for
bazsars of Rome and we would equip skating
rinks on the banks of Jordan. OF all things
that has been invented there is nothing that
so robbed the laborer as high rate of taxation.
Weston Lewis, State arbitrator, of Boston,
read letter from Senator John Sherman,
who was unavoidably absent. The letter
contained several suggestions upon the na-
tional banking system and stated that rem
edy had been recommended by both Messrs
Knox and Connors and was substantially en-
dorsed by the present comptroller, but Con-
gress has neglected il.
Senator Morgan of Alabama delivered an
eloquent address upon the question as to
whether we shall continn +. the national ban k
system or repeal it, in which he said:
II hope the time will never come when
merchant shall be permitted to draw money
from the treasury on bill of exchange,
either foreign or domestic, which he offers
for sale or discount. 1t will never do to en-
trust the mother bank-the United States
treasury-wlth the powers of the bank of
discount, or with the purchase and sale OF
exchange Let the national banks do this
branch of the business on money issued by
and redeemable to the United States. Our
1,,tx- al 20 han III n
system, whether the proportion of our paper
greater or less than it is now, should be left
to the test CT exper ence."
He dwelt at some length upon the silver
question, and upon this he said
LET us in our dealings with silver and
gold give to each fair opportunity to assert
its superiority as metal to be used for pur-
poses of redemption when time for redemp
ton comes. In issuing coin certificates TO
retire legal tender and national bank notes
at the rate of two dollars of paper for one OF
coin deposited, the government would be nc
more of a bank than it is now, when it has
S346, 900, 900 in legal tender notes and S22S,
672. 900 in national bank notes, which it il
bound TO redeem on demand 1t will be Z
safer bank than il Is now, when its reserve II
the treasury is only 500 900 900 in golC
with which to redeem S574 672, 600 in it.
paper promises, to say nothing of the bond
we owe"
Senator Hale of Maine being introduced
dwelt briefly upon national security and de
fense. claiming that our sea ports are toda,
as defenseless as when voyagers and plsnder
ers of the 10th century were let loose upol
our shores. Although not an alarmist h
would call attention to some of the possibli
ties if not probabilities of the future, W.
are any day in danger of complications aris
ing from our merchant marine in Spanis
ports. If thst worthy old man succeeds il
cutting in twain this continent, who can tel
wnat position we shall have to take?
Senator James B. Eustis of Louisiana, wa
greeted with cheers. He said he represented
a State whoes people were thought to be OF
luna ic disposition on the silver question an
tariff reform. | am told, said he, that yol
have great disdain for what are calle'
spoils of politics. As to the tariff question
there are millions of spoils going into tn
treasury. The object of the Law was rev
enue, the idea was protection To-day W
witness the paralysis of the taxing power
because the government has fostered to-
many things The trouble OF the situation i
that the power of taxation has been used t
| protect private interests. | understand you
sensitiveness. You have gained great wealtl
and the system by which you have gained
must be artificial. otherwise taxation mus
continue. 1t is a suspicion which has existe'
| for about so years among the people o
the South and West that the wealth of tn
country enters the pockets Of New England
ers. | do not myself believe it will be pos
/ nHa in