The Providence news. (Providence [R.I.]) 1891-1906, 1894-04-19

but to commit commercial suicide. The
interests OF this people are so intertwined
with the interests of others, that from
force of the law OF self-preservatlon, we
must conform our financial laws TO the
laws that govern the worlds trade, or else
fall far behind in the race for wealth.
The monetary standard which we should
maintain ought TO be the very highest the
world knows, SO that wherever an Ameri-
can may be, the dollar which his govern
ment has issued or authorized, shall be
given full faith and credit the world
over.
trust the day will soon come when
every question bearing upon our none
tary laws shall be treated IN the llgnt OF n
business issue and not as polltlcal
one; with regard TO its effects upon
the material interests OF the country,
rather than with reference TO its politi-
cal bearing. When that day is reached,
there need be little fear of any citizen
Welding TO the clamors ofany advocate OF
a money OF such uncertain value as TO
stand a menace TO the prosperity ana
credit OF the people. Heretofore In every
contest waged between the advocates OF
money, cheap and plenty, ana
one whose intrinsic or convertible worth
is under any and all circumstances OF the
value which il purports TO be, the common
honesty and common sense OF the peo-
pie, have made them, in the crucial
test, the adherents OF those who have
stood for the right. Such has been their
position in the past, and such, i believe,
will be their position in the future.
Hon. 5. N. AIdrich.
Hon. Samuel N. Aldrich, ex-assistant
treasurer OF the United states and presi-
dent of the State National Bank, Boston,
gave list of "reminiscences of interest to
Rhode Islanders illustrating the proven
bal honesty of the men 10 whom the
name of Roger Williams Is sacred and
from honesty came very naturally to the
subject of currency as IL Is, how much
worse IL might be and how much better it
probably sometime will be. III is inopor-
tune now, he said. in view OF the western
and Southern differences of opinion, 10 at
tempt financial legislation. gold basis
is good enough for the present
III. j. Curtis, Esq, president OF the old
Boston National Bank, was very compll-
mentary i'm his remarks about the
association whose guest he was, and en-
phazied the fact that such gatherings were
in every way beneficial to the best and
highest banking interests. He denounced
greenback legislation saying that 1t
was useless TO try TO be patriotic
about it merely because IL had oc-
Cured i'm the United States
the standard OF value should be
founded on sound monetary basis,
backed by renl money and not with
promises TO pay money. The principal
point which the speaker made was that
all paper money not representing actual
deposit should be issued by the banks
themselves rather than by the United
States Treasury.
Colonel William Goddard, president OF
the Providence National Bank, was the
In haholf ~ RnnHa IalQ nA
he thanked the distinguished officer OF
the government and the gentlemen from
Boston for the pleasure and instruction
which they afforded those fortunate
enough TO have listened to them. He
then told of a system which had been in
operation, in his own bank since
1859 and one which he believed
TO be peculiar TO that institution.
He offered it as suggestion to other
presidents and directors, and ventured
the opinion that they would find it was
advantageous TO adopt IL. The system -e-
ferred to is one similar to profit sharing
whereby 10 per cent. of the banks surplus
earnings is apportioned out in relation TO
salaries and given to the bank officers.
This system, Colonel Goddard said, stimu-
lated greater interest on the part of the
official, impresses more fully the value of
economy and satisfies very natural crav-
ing for participation.
Among number of other good things
that Colonel John 4. Wyman gave To the
audience was his remark that il did an old
man like himself much good TO attend such
a gathering where there was so much talk
about the rapidly approaching better
times" He had been waiting for them all
his life, but was not through hoping when
ever he heard an announcement OF their
arrival early in the future. Then the
popular old gentleman told some remark
ably witty stories.
The last speaker was Postmaster Charles
III. George, who made one of his char
acteristic bright speeches, and Joined
Colonel Goddard in thanking the other
gentlemen.
The Guests.
There were at the presidents table the
following guests:
Ex-Governor Royal C. Taft, Rev. Mr..
Hutchinson, Postmaster Charles VI.
George, j. Lewis Pierce, president OF the
Board of Trade; Joseph T.. Cote,
president OF Woonsockct Bank
John @. Waterman of Warren; Lewis An
thony, Caleb G.. Burrows, John almer,
Henry Il. Root, j. y. Bates, George l.. Lit
tleficld, J. M. Ellis, T.. :. Bush l.. =.
Spraguc, Hon. Samuel Clark, Henry
B. Metcalf General Olney Arnold, A. G.
Barstow, N. ID. Arnold, Robert knight,
II. Y. Campbell, j. ;. Read, p. j. Thomas,
w. III. Spooner, James Tinker, William
Segar, w. w. Paine, DIR. r. c. Wood, cx-
rem, j. NJ. Kimball, t. n. Pcckham, j. !.
Nelson, Chief Justice Charles Matteson,
Colonel JohnC. Wyman, II. G.. Curtis, A.
A. Mann ars G.. N. Samson.
Good music for the affair was furnished
by Smiths Orchestra and the Ealstaif