The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1891-02-04

HIS LAST SPEECH.

New YORK. Jan 31.-RespOnd;ng to
the toast. ''Our Country's Prosperity
! Dependent Upon Its Instruments of
Commerce" MIR. Window said, just prior
| to his sudden death at the Delmonico
banquet:
| lam to speak briefly of the instrsments Of
commerce in their relation to the wealth and
| prosperity of she country. The subject is
very broad and my time very THitcd.
shall, therefore. confine my Semarxs 20 the
two chief instrumentalities of comaHsree-
transportation and money.
4 nations wealth and prosper ~ are S0al-
ly in proportion to the extent and success Of
commerce and commerce itself is dependent
upon the adequacy snd adaptatpon If these
two essential instruments. The history Of
all civilized countries atte>ts the fact that tfo
nation best equipped in these respects rapid
ly bec ONES the most powerful and richest ana
the most prosperous. Our own country is no
exception to the rule. NenatiOn has ever fos>
tered more Literally or protected more care
: fully its internal and coaStwise trade than
We have done, and the resultant magnitude
and prosperity of our domestic commerce ia,
believe. without 4 parallel in the history Of
I the world We have more miles of railroad
( than all Europe, Asia andi africa combined.
| The floating tonnage of the Emitted Statesen-
+ gagged in cOastwise commerce ard on our
lakes and rivers is very farin excess of that
of any other nation Our increase in wealth
from 1871 to 1851. compared with that of
other nations, was: United States, <l3573.
4Sl 1873: Great Britain, S3,250DOO.O0o; France.
sl,it5yGD,o Germany, :3.625.GOl.OO0 Orr
/ home mar kets in 1877 abSorbedifive times aS
much OF our manufacturcdi products as
Great Britain exported of hers to all the
markets of the world.
Contrast these grand resultsof our liber.
ally developed domestic commerce Operat-
ing upon our protected industries. with the
present shameful condition of our foreign
carrying trade There was a time when we
stool first among the nations in ship build
ing and Great Britain alone excelled us in
ocean tonnage. Once IS per cent. Of our I'M
portSand SO per cent. of our exports were
carried in American boats. and our merchant
marine became the boast of every citizen
and the envy of the world Now far as
foreigIr trade is concerned, our ship yards
are comparatively silent and our flag
has almost disappeared from the
high seas. So strong had our position
become under the protective policy of the
first twenty five years of national life.
that our ,Serchant marine continued Ito be
prosperous so long wooden vessels were
the oniV vessels of ocean commerce and
other nutisns refraine ed from heavy subsidies
to their ships. But when wooden vessels
began t0be supplanted by iron steamers,
and European Governments poured their
contributions into the treasures of their
steam snip companies. the dccadence rOf
Americans shipping began and has continued
ever since. In my judgment the remedy Is
plain and sasily applied. II we would re-
gain our lost prestige, reinstate our flag
upon the Dream and upon the markets OF the
world tO Agns rican producers, must make
the contest Hth the same weapons which
have proved SO successful in the hands of
our rivals
The folly an;i danger Of depending upon
our competitors for the means of reaching
competitive markets can not be estimated.
Suppose tint Tor twenty five years We had
given So coo, Dan Il year in all Of our foreign
shippin.s. and reduced by that amount the
payment OF our bonded debt, should we not
have beers' far better off than We now!
regret to. say that the uniform record of
indifference. il not actual hostility. during
the past FIFTY years affords little reason for
encouragement. In fact. the tendency of late
has been to,surr ender to foreigners even our
domestic commerce, rather than to assert
ourselves upon the ocean Determinations
OF the most astonishing character have been
made both by Congress and the Treasury
regulations in favor Of Canadian railroad
lines and STEAMSHIPS against our own.
Presidents ct the United States have re-
peatedly expressed the national humiliation
and appealed TO Congress for action in be-
half of our rapidly vanishing merchant
on deaf ears. Let us hope that the urgent
appeals IL President Harrison on this sub
1ect may bear fruit in some well devised
measure of protection and encouragement
: 1t is essential to commerce that the cur
rency with wink h it Is conducted be adopted,
both in qqant,ty and quality, to the wants of
trade as that the vehicles OF transportation
should. be adopted to their purposes.
The IDEAL financial system would
be one that should furnishn just
enough OF absolutely sound cur
rency tou meet the legitimate wants of
trade, and! no more; and that should have
enough elasticity of volume to adjust itself
to the varying necessities of these people.
Could such n circulating medium be secured
the srnvasI commercial disasters which
Athreatcry,our future might be avoided. These
disasters have always come when unusual
activity lin business has caused an abnormal
demand for money, rs in the autumn, for the
movement OF orr immense crops. There
will always he great danger at those times
under any east iron system of currency, such
as we now have. Had it not been for the
peculiarooudtion which enabled the United
States To diSbursc over sa5, 900 i'll about
two and half months last autumn, / .aIn
firmly convinced that the stringency In Au-
gust and September would have resulted in
widespread financial ruin.
am. thoroughly convinced that better
met hod! can be devised which Will in a large
GcGrco place the power OF expansion and
contraa tioil i'm the hands of the people them
/ selves. The opportunity for securing such
IL currency my be found in our bonded debt,
which should in my judgment be in part ex-
changed for interconvertioie bonds, bearing
loN rate of interest and always inter
chansreabe for money at the viii of the
holder.
Believing that there is not enough of Fl her
go I'D or silver in the world to meet the neceS.
sites Of business. ] am an earnest bsmvtai-
list and cOncede to no one a stronger desire
than feel for free and unlimited coinage OF
silver as soon As conditions can be reached
through international agreements, or other
wise. by which such coinage shall be lie.
Bur it is my firm conviction that for this
country to enter upon that experiment now
would be extremely disastrous, and that it
wOrld result not in bmetalisn, but In silver
mONOmetaliism.
How. then, will unlimited coinage either
expand he circulation or enhance the valne
Of silver? The advocates of present free
coinage insist ihck it shall NOT wait the slow
process of mint operations. out that the
printing press s.all be set to york providing
certificates to be issued for silver bullion at
81 for 37lL CraiaS. When this combination
shall be reached. as it surely will be if UNI
limited coinage be adopted under existing
condit ions. the too ardent and impetuOus
lovers of silver will sadly. realize the truth
uttered by tie wise King C lsrnel: He that
lovcth silver shall not be satisfied with sill
YER"
Give ms S,srert and araDle transoOrta tiOH