Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1892-01-28

roiiOWlnR Is tne Iull teXt OF the
speech of Hon. Thomas f. Bayard at
the banquet given by the Boston cham
per of commerce on the occasion of the
opening of Its new building, on Friday
last:
Merchaats Of Beston-hg Fslloae Country.
men: For the favor of your invitation,
ton, I.heartily thank you.
The splendid chamber OF commerce,
which has this day been dedicated, is an
enduring and impressive evidence of the
ability, intelligence and prosperity of your
association, and you have my congratula
tons, warm and sincere, upon the new
landmark Of civilization you have set up
" beautify and adorn this ancient and
honorable city, and facilitate the transac-
tons of the commerce of Boston, and of
that great country In which she Is SO hap
PLY conspicuous. The beautiful and i'm
posing structure you have opened to-day.
and dedicated to commerce, affords the
best text for the remarks shall venture to
submit on the present occasion.
IL is merchants exchange-the name
Is pregnant with Specification, and the very
stones Of which the building is composed
contain in themselves a sermon. You have
called it an exchange" because hither
come men, each with his special com
modify, the excess above his own need, to
dispose OF it for something else he stands
IN need of--not merely to sell it, for that is
but half OF his purpose; he not only
wishes to part with what he has in super
fluffy, but to obtain by the same trans
action something that he needs and desires
And us merchants exchange is in
tended, Jn grand scale, to facilitate such
transactions. Here the purchaser meets
the vender, here the producer and the CON
surner meet, and the currents and counter
curr2Nts of demand and supply flow into
thet rppy equilibrium of mutual content.
TO- iNAr calling is surely most honorable
lteriallsenehcient, and 1t can best be con-
- N'd by the practice of comfy and
esiality IS opposed 10 isolation and self
: '1shnass. Your business is great agency
4 TO bring together, from all quarters Of the
\ Rlpee, producers, consumers and agents of
distribution, giving to each increased OPP
portunity 70 exchange, in order
TO SUPPLY THEIR MUTUAL WANTS.
Apart from the endowments of nature
the unequaled diversities of climate, soil,
race and production Of which the people
OF the United States are the fortunate
possessors-the strength and wisdom of
our institutions have been chiefly ex-
hibited in allowing our people, of every
class and vocation, to exert their faculties
freely in those pursuits for which they felt
themselves most inclined or best enabled,
so that under our liberal system no man is
debarred from any avenue to fortune OF
!. happiness, nor is any occupation closed TO
4 any one who feels within himself the
,o1 prompting to adopt it.
~ With this great and just principle Of in
~ dividual freedom, il is not to be wondered
sr that, with such a domain as has been
to US by Providence, every
,mreglon of our territory has been called
,hcupon to do what it can do best, to produce
'orEhat it can produce best and most
errI bundantly, to make what it can make
Vtest, and sthe absolute and nnquestioned
" light Of free exchange has permitted the
llp:trrents of demand and supply tc
Cstrayerse,, ''fertilizing as they flow,n every
'atregion within the vast area Of our national
Nc daInain.
a., To such untrammeled and healthful ex
..9 pansion we can alone attribute the won
~ derful development and advance of ON
u country in material wealth and prosperity
! But 70 the eyes of thoughtful and patri
otic men there is cloud painfully appar
eut upon the horizon, and the mtittering.
Of storm are audible, which prudent { re
Thought warns lis to consider and provide
against. refer to the gathering sounds o
discomfort among the agricultural popula
ton all over the United States. and tn,
dangerous character of some Of the RENE
dies which are proposed for their relief
and among these tile most to be dreaded il
the overthrow of our present measure anC
standard OF value, and substitution of
THE FREE COINAGE or SILVER
at an arbitrary legislative ratio to be Sc
up by this government without the co
operation of other mercantile nations, ant
wholly in disregard of the intrinsic valu
of the metal of which the coins are TO b,
composed.
need not describe to this audience tn
disasters, financial, social and political
which would accompany such a step, o
the serious and paralyzing influence upor
business in all Its departments, upon in
dustry in all its avenues, that even tn
shadow of such threat, and the posi-
bility OF its execution, casts upon on
future. 1t would strike grievous bloy
against our national honor and prosperity
the effects OF which it is impossible TO est
mate.
Nor need dwell upon the irreyerent
the insensate folly of attempting to Great
values by statute, or to enforce by lega
enactment a parity of value and accept
ability Of two distinct commodities, 70
history has been written in vain if tn
futility OF such attempts should not nov
be acknowledged, and the effect of on
own existing legislation upon the price
current of silver bullion should alone b
accepted as plenary proof.
But feel impelled, under the obliga
tons of sincere friendship, TO ask you
earnest and candid consideration of wha
= IL ft4SDI
to such delusive and destructive propos
tions as means Of relief from prescn
financial depression and distress anon
the largest class of our countrvmen-
those whose capital and energies are eli
gagged in agriculture.
IL is my belief that the existing arrans
ments OF law regulating our CommerC
with foreign nations, and imposing tax,
upon importsand administering the collet
ton of such taxes have brought abot
such congestion in exchanges and I'll
natural laws Of demand and supply, an
have produced such q condition Of affair
that the exchange ability of the produc
of our soil has been grieyously impaire,
and that asteady current has been runnin
for many years, itenstied by late acts
legislation.
AGAINST AGRICULTURAL INTERESTS
and those whose capital and lab
are involved in the ownership al
cultivation of land; in other word
that those engaged in such productio
have year by. year, by the operation
law, necessarily become poorer, denud'
by illy-adjusted and excessive taxation
their normal rights, until the mark
prices they receive will barely cover ii
actual cost of production, and the pu
chasing power of their products will n
suffice TO procure for them and their far
lilies that reasonable and comfortable liy
lihood to which every industrious Anne
can citizen should be entitled.
need not produce to you the statisti
of abandoped farms in Massachusetts al
the adjoining states: nor recte the ruino
record of forced sales, nor the list of u
saieable farms, nor the diminished pric
of those which are sold, for the same sto
comes TO us from almost every quarter
the country.
Nor will ! cite the sad testimony of int
viduals selected from the cloud of witness
who surround US on every side, TO rela
10 4 4. -.