The times. [volume] (Richmond, Va.) 1890-1903, 1893-11-22
J. G, CARLISLE ON FINANCE.
The Secretary Of the Treasury Speaks
In Gotham.
SOKE IMPORTANT FACTS AND FIGURES
Full Text Of an Address Before the oh""'-
ber of Commerce In which lie Gives
His Views on the Monetary situation


OF the state OF New YORK are "'"'''
more than local interest. ana '' -,
hundred ana twenty-nfh banquet az
r,ouico's This evening was no eN0'p''0'''
Men Of national repute were pIe9'i'' anu
-. only the affairs Of city ana state
,,..,ssoa b1t the politics Of the
..... e,r,sbadowed by utterances
ofts bieh representative NO inter 'iine
"a no inter place could have been Sc
,..,o5 tsan the Chamber Of Commerce
d,nrer tonight for utterances which must
offrarf fhe attention OF the whole country.
IA eu fhc noted men been present VINO
wore expected until the eleventh hour
she occasion would have been even more
memorable Senator David B. Hill accept
81 an invitation 10 attend, and place
was reserved for him at the head OF the
table. He declined at the last moment
Those who did attend formed one OF the
most notable gatherings ever brought To-
glther by that ancient and honorable body
known as the Chamber Of Commerce.
4 Notable Gathering.
Men Of every profession gathered In
- assembly rooms of Delmonico. sec
rSary OF the Treasury Carlisle was there
and also Comptroller Of the Treasury
the person Of Florence Odriscol, member.
Of Parliament from Monaghan, and one
OF tho whips Of the Liberal party. Presi-
f..f of th. Chamber Charles ). Smith
r-es'dod. Secretary Carlisle sat at his
i.r At his right was Congressman
Outhwaite The others at the guests Ia
DE were Naior-General O. q. Howard.
E.e Dr. Francis l.. Patton, president of
Princeton College. Carl Schurz, Comp
trIor Eckes. Rear Admiral Gherardi,
Hu Florence OdriscOl, az his right John
T..t|f Warner Congressman W. BOurke
Cd .ran. William Walter Phelps, W.
VMt.law Reid. 81. Clair McKelway, Mu-
-t H4Isf-Gd eX-Judge IS. n. Robertson
David ST. stone Samuel d. BabcOck. and
Sh Low, president Of Columbia College.
There were Eve abios. running north and
..l.h They were presided over by the
members of the dinner committee, as fol-
l.ws:
General Horace Porter. j. Edward
Simmons Henry W. Cannon, George Rut-
I..ee Gibson. and Lowell Lincoln. IL |
was just o'clock when the dinner be-
gan. II lasted "a little over two hours. !
and spepch-makiug was then I'm order.
Che president of the Chamber OF Com |
utrce. Mr Charles s. Smith, introduced |
Nr Carlisle in these words:
GeutleU l. ihe question of silver repeal |
SD recently decided hy Congress. was the /
most important which had challenged |
The attention off the country since The
close of our civil war; We are glad 20
welcome 90 our board the Secretary of
the Treasury who through the long
contest iu the Senate. threw his great i'-
fuenCa iu favor 0f just decision. The
Hau John g Carlisle viii respond 10
tAe following toast.
commerce demands and the honor Of
.H.. 81 g aHI loo. fHf.fr.
of the United States shall be paid in
coin current Boo ANY market of the world
aa1 that thIe question shall bee settled
flr au ume auI beyond al controversy
no which AR. Carlisle responded:
ur. gnrn- '- speech.
lIr President and Gentlemen: The sub
i..t presented by the sentiment just read
eo .ar and involves 500 many consider
auons. not only of public policy but OF
public and private honor and good faith
tl1t scarcely know how 10 respond TO il
0n such au occasion as this. where brev-
.tr OF statement win Doe more appr0pri-
l.e than elaborate argument. / am
slmeWhat embarrassed also. by the fact
at I am to talk to- an assemblage Of
u,Iemen whO by reason Of their per
Iull experience in commercial and hnan-
Hl affairs are no least in as good a posi-
.Hu as ] am 90 understand and appre-
.f- the value of a sound nnd stable cur
-.1ry and 90 foresee the injurious effects
departure from correct financial &
hois.
Money and its representatives. const- {
ute the tools with which the merchant (
md thc banker perform their parts in 4
hr numerous and complicated transac-
ions necessarily occurring I'm the growth | ;
md development of Our trade at home
al abroad. 40 is not possible TO do per-
et work with imperfect instruments.
i NJ 10 U.s. attempted the consequences s
ll not fan upon YOU alone. but must
e felt sooner or later i'm every part Of s
he land. Confidence would he destroy /
d. trade would be interrupted. the obli- IL
ttIons of contracts would be violated. 2
nd AN the evils which have Invariably | a
tfeuded the use OF "a base or luctuaung | +
trrency would aflict. not the CONNER s
Ial and financial classes only. but the 7
ountry at large. But our commercial s
interests are not confined 20 our own coun- G
rs; they extend 10 every quarter OF the d
lobe. and our people buy and sell On o
early every market of the civilized world d
very large part of our farmers mechan- n
's and other laboring people find con- II
tant and profitable employment in the d
reduction and transportation Of COM b
lodities for sale and consumption in Q
ther countries. and tho prices Of many OF fl
Ir most lnportaul products are q
Scd In foreign markets Withopt c
'ception these prices are nxe1 h
tho markets of countries having a gold q
andard or measure az value either by q
,press provision of law or by public e
Iicy which keeps their silver coins "
lal in cNchanEeahle value 20 the gold @
irs at fae legally established ratio q
value of our trade with the people Of L
.er countries duriur tine last fiscal year a
s more than N7W00o0O). and more
81 iW MlUO of this was with the p
le of Europe. while with the whole OF b
tamorrted 20 % little over 800 600 o00 @
ord with an the countries Of South Amer y
excluding Brazil which has q single t'
st7ndore 70 was only $4,000 0o0 81
tie 10 would be unfair TO attribute this "
'HI di o. o tO. nr .ur tr De- fffN tNe ol
eide world 10 the character Of their ~
az legislation. 7 think it may be- safely ''
serted thar this country could not long 81
a'Ntain its present position as one Of the
el conspicuous and important members ci
''r great community Of commercial sl
'N'ns which now controls the trade Of "
= word unless we preserve a monetary gf
.ll substantially, an least. in accord an
y" the monetary systems Of the other Da
Ihcipol nations. 1t
ommon Basis.
mere can be no international legal fen ~
i. "i'hOut an international agreement. | 40,
.'.'Ie musi, from the very necessities 81,
~-' ease. always be "a common basis 40,
"hlch bargains are made and a ,ol
i'''D" currency In which balances are 49,
"'" NO one nation can determine for ~
VuieiS what that basis shall ha ~, | A.,