The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1886-12-30
FINE BANQUET.
The Boston Merchants Hold Thei
Annual Reception,
A Number of Distinguished Gentle
men Present from All Parts of
the Country,
Including Senator Hale of Maine,
Who Makes Speech.

Boston, Dec 29.-The merchants Of Bos-
ton have today been honored by the visit OF
several prominent politicians, among the
number being Senators John T. Morgan.
James B. Eustis, George f. Hoar, Eugene
Hale and Henry l.. Dawes, and Representa-
tives A. A. Ranney, E. 3. Taylor, Andrew
G. Curtin, w. w. Morrow, II. A. Herbert,
w. p. Hepburn, John ID. Long. p. A. Collins
and Others They have passed the day in
visiting prominent points of interest and in
paying respects to distinguished officials OF
the State and city.
In the afternoon they were welcomed by
the Boston Merchants Association officers,
who entertained them at the Vend0me, where
an informal reception occurred from 3 to 445
o'clock, during which time the politicians
chatted on political matters in groups In the
parlors and corridors. After the reception
the party to the number of 300 entered the
dining hall, where princely banquet was
served. Seated at the table of honor was
President William B. Wood, and upon his
right were seated Governor Robinson, SEN
ator Morgan, Representatives Taylor and
Ranney Of Boston, Senators Eustis and
H0ar, Representatives Herbert and Hep
burn, Senator Hale and Gevernor-elect
Ames Seated at the tables were the most
and publishers of the city Of Bos-
ton, among the number being Collector
Saltonstall, Hon. p. A. Collins, Hon. John
ID. Long, G9n. N. p. Banks, Postmaster
Corse, A. Shuman, Eben d. Jordan, Jr,
Curtis Guild and Thomas Hart.
Governor Robinson was introduced and
amidst continuous rounds of applause he
greeted the distinguished guests and mer-
chants.
Senator Morgan of Alabama delivered an
eloquent address upon the question as to
whether we shall continue the national bank
Sxrafa ny raf in tyhl lnh ha o1
hope the time will never come when mer-
chant shall be permitted to draw money
from the treasury on bill of exchange eth
er foreign or domestic, which he offers for
sale or discount. 1t will never do to entrust
the mother bank to the United States Treas
ury with powers of hank of discount, or
with the purchase and sale of exchange. Let
the national banks do this branch of busi-
ness on money issued by and re-
deemable to the United States. Our
duty appears clear to preserve our banking
system. Whether the proportion of our
paper money to be issued through them is to
be greater or less than it is now should be
left to the test of experience. He dwelt at
some length upon the silver question and
upon this said: Let us in our dealings
with silver and gold give to each ialr op-
p0rtunity to assert 1t superiority as the met
al to be used Tor purposes o redemption
when the time for redemption comes. In
issuing coin certificates to retire legal tenders
and national bank notes at the rate of 81 of
paper for one of coin deposited, the govern
ment would be no more of a bank than it is
now when it has outstanding $346, 100000 in
legal tender notes, and S22S, ,672, 900
in national bank notes. which it is
bound to redeem on demand. 1t will
be safer bank than it is now whe n
its reserve in the treasury is only S100,000,-
600 in gold, with which to redeem $574.672,-
600 in its paper promises. To say nothing
of bonds etc. Hon. George n. Stearns, Uni
ted States District Attorney, responded to
the toast, United States of America" Now
sidered, he said, If the fact that trade IS
trampled upon and prosperity is impeded by
the weight of taxation that is unprompted
and unnecessary. What the United States
wants is a new suit of business clothes So
let us reach out and provide it. What
would 1t be II this country was free? Why
we would sell furs to the Laplanders and
manufacture antiquities for the bazaars of
Rome, and we would equip skating Kinks on
the banks Of the Jordan.
Weston Lewis, State Arbitrator, of Boston,
read a letter from Senator John Sherman,
who was unavoidably absent.
Senator Hale of Maine being introduced,
dWelt briefly upou national security and sde-
fence, claiming that our sea ports are to-day
as defenceleSs as when vOyagers and plum
derers of the 10th century were let loose upon
our shores. Although not an alarmist, he
would call attention to some of
the possibilities if not probabilities,
OF the future. We are any day in danger of
complications arising from our merchant
marine in Spanish ports. If that worthy
old man succeeds in cutting in twain this
continent who can tell what position we
shall have to take.
Among others who spoke were Hon. w. E.
Henburn of Iowa: Representative Taylor of
Ohio; Morrow of California: Ex-Governor
Curtin of Pennsylvania; Senator James
Eustis of Louisiana, and Representative
Herbert of Alabama