The sun., 1891-01-30

ly representation OF New York merchants.
Nova Gotta was represented by the Hon. J. W.
Loneley. aud Canada by the Hon. Wilired LHu-
Iier.
Tie Esv. B. Parker Morgan. d. D.. invoked
the Divine blessing. aud the banquet, which
was In ten courses, occupied about two hours.
T, On tho President introduced as tho toas'.
master o! tho evening cx.Judgs hrnonX. and
Mr.. Window was presented to spcak on the
topic Our Coun'ry's Prosperity Dependent
Upon It's Ins ruments Of Commerce" He ad.
dress was long. II would mako about 2n col.
unns OF TiiE suN lie said III part
an. wIsDoNs LAST sPEgcn.
Improvomc nts male Ivy tho transportation
companies themtelves have been very SANS.
factory, but though much hn- been nc ON
remains to be dol.. il nigh, ue allowed 20
epgRcst nnren,heiicaly, another very oes!ra.
pat int, ur and eas ana asi es
into our raltoad s,ocka
Il am 10 speak briefly Of tho instruments Of
commerce IN their relation TO the wealth and
49, The suh,ec, is very broad and my time very
70 the two chief fiLstrumrn,al,ies d conf mprce
-trAnrportat and money. BY the iurmor
eomm.diIies Change nlaees. and by the latter
must oontont nysc!f with the baro statement
oi,s fow facts and dedu;tionsi,.,
He stoke in favor OF subsidies 70 our mer-
chant marine" and colhmrnte ed on the recibroc-
ny Which sall on ono eide, lie said:
TO oreIsners epen our our d. aamss,c % % comnros. s
rn'her thnn to assert ourselves upon the ocean.
Observation-Disclosures a , 81 the mo- m3st as'onishinG eha,.
Ir.asuty regulations. In favor Of Canadian
fniiroGa nes ana s'esmshis aTsin own
/. ' ili%"ra,. the M na,nr" "u nnI ' es;@ns sint
q q, may Other dssrmlInathons If r. q, NJ
fo Nov prourhs n Sorean 'SssHs seass
60 san Francisco, unst undergo nj tha forms
md delays q entry nndor tho e,ric, srrntiny
our own country 70 New Y@rk, while ne same
steam ,ips to Vnncon or is rams erred at once.
and without ANY substantial survsilance, to
Canadian railways. which aro not required to
and proceed 10 New York or other Eastern
nors unvsSsd BY "ny Of the sasrseabe a,,en
pean goods landed at Montreni and transferred
ports. pc % against goods Isndei at % N"w " YORK. Bos.
ton. and other Eas,ern PORTS TO be TRANSPORTED
wholly through our % own country 70 their West
and unjust determinations against our own
people and our own transportation lines has
enues. but also TO build ,ip foreign transDorta.
tion interests at he expense Of our own. Rc-
rr"ss 81 n is On
our ioreirn shipping interest hns en- loyed ior
tho last My years. is, the liberty to die mnd"r
uiE IIoU esstar lie 'Es cra.hIDR "ldHR
power OF Europenn treasures. and the utter
msn eeproci'y @ ss is is "u most oW yaInsbo
thing. II Kept within the lines OF protection.
but reclnrooty by which we surrender our
al the other mnrkets OF ,he world in tho vain
IS "oisyS resSed M With % ssn sF"Hs Gis
nster. Presidents Of the, United States
h,aos saG snI The national
yanishins merchant marins; but ,Hp, far theirr
t hat the urgent appeals IRON President Ilar-
rison on this subject may bear fruit In some
measure of protection and en-
His last topic was Money" aud on this ho
The idoal financial system would be ono |
that should furnish Iust enough OF absolutely /!
sound currency to meet the lecit mate, waa's
enough 81 sticitv Of volume to ADJUST Itself 10 |
the varying necessities o! tho people. know
snis seems asnt Ei BY. be
ioqnI in our bonded debt whicS should n' in my ny
Bonds P Soarns rate ,Ul ", inter-
ST.. 1 and always wy n,erchanseablo for money ut
The quality Of circulation Is even more i'm
Ter eninr1inE credit may, and often do; avert
dundancy may sometimes modify its own evils |
before teir results become universal. but for |
currency there is no remedy. except hy the
costly and difficult return to sound money As |
poison IN nn he blood rcrmeatcs arteries. veins.
paralysis or denth, so does ,!ehased or hue |
tmntnG cnrirency petm,ehe AL The "re5ies OF
d .s,tster t. Ill classes "f penile.
btlloSing that there Is not enough OF either |
ties OF business. l am an earnest himcr aliist
and con. ede t. n" one stronE,r desire than |
ieel Tor the tree and imited roirag" u' silver.
as soon aS conditions can be reached through /
International agreement. or otherwise. by |
Sl which such coinage shall be safe But 1, is my
sHdsr ;Lsmo,s sAis,ins o"ndtiIns would r.
silver. monometa lism. Snrh an experiment .
would In my judgment. prove VI oater disnp-
else They insist that it would expand the .
circulation md, permanently enhance Tho ,
swif, and severe contraction. and eventually |
reduce tho market value OF silver. Lot ma
briefly briefly suggest some OF my reasons Tor this
;. Free and unlimited coinage Of silver by the
nit"d States. while The other ,grea, nations
owners "f thai mHtn throughout The world to
exchange %n. Gr"ins Q! pure silver. worth
W. rth cverywhers l0o cents. Nearly y MI Fine ths
nations of Eurore ore m Nous TO exchange
tarir silver Tor E"I' and they T"u! ~ o.ee
tistics Of the IreasEry Departmont show hat |
luropo amounts to 81 lul .i0o, ,O0O, and that vi /
this amount n" bnlks Of France. Germany.
ungnry, the Netherlands. and PEI !
gum hold s42, 40, A large rait Of tho, .
Ter 70 us at once nnh ~" switcst steamers (
would seenp,oycd to deltverh 10 tho Treas
ury. IN order that with he proceeds the own.
eis might buy gold exchange on Europe be.
lore our stock ui gold s!, u!,l lie rN Nhunsied.
Mould our own morle await the arrival Of
those silver nigCRios from Europe before act
Ing Not unless tn" YANKEE has lost his quick
scent Of danger and forgotten his cunning
lnnk d"Ioeitors. trust companies. the holders
Of United statrs notes and gold certificate,
mand. and then ioin tho panic! inspired pro-
re,sipn to tho Treasury; each and al apA sous
i 10 too late. lrobably, utior. tho swifns,
cargo a Now York, iihe last gold DOL
lar within rench would he safely hid.
don away In pri ,ats boxes and in the
vaults OF safe lsposi, companies to ba brought
onl only by u high premium for expectation.
This sudden ro,Irment OF 5000. o.oo0.O .O6n Of H'li.
with the ncrompanying panic. would cause
contraction and con mercial disaster unparal-
lecd in human experience and our country
would nj OF f.,t hA ~.