The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-05-03

Detroit. Mich, May Upwards, OF
$50 leading bushes men of Detroit
and their guests of the evening en-
joyed the banquet given at the Hotel
Cadillac tonight in celebration Of the
completion and dedication of the new
Detroit chamber of commerce.
After upwards OF an hours discus
! Sion of the elaborate menu, the COM
| pany listened to exceptionally able
discussions of interesting subjects to
/ the commercial world by representa-
! tives of leading business and financial
| interests of the country. The guests
were welcomed by Rufus ". Gillett.
president of the Detroit chamber Of
commerce. ex-senator Thomas ".
Palmer, presiding happily as toast
master.
The first toast was eloduentIy re-
sponded to by the Hon. W. C. May
bury, of Detroit. His subject was NO
North, No South, No East, No West.
but the Commercial Supremacy of a
| Great Nation
Commerce of the Inland Seas was
responded to by Harvey D. Goulder.
chief counsel of the Lake Carriers
pew was then introduced and spoke
on The Union of Ststes-The Bond
of Commerce Is Their Mutual indie
pendence and Enduring Prosperity"
In opening, Mr.. Depew said that
while business men might differ poll
tically the various chambers of COM
merce considered only the questions
affecting commerce upon the recognized
principles of commercial prosperity.
the immutable laws of trade, saying;
Thus it was that the commerce of
the United States is the ever4strength-
ening bond of union of the common
wealths which constitute the repub-
lic.n
He referred to the necessity for the
association of commercial interests and
capital and said:
There is no more benef1cent form
of association than these boards of
trade and chambers OF commerce
which are now established all over
the country.
There will be a central chamber of
commerce in Washington. in which
each of those bodies will have repre-
sentation.
when a business man becomes a
member of Congress. the effort to
spread himself over this great country
seems to so thin his grey matter as to
make him incapable of bringing 10 the
business Of the nation the same COM
mon sense which made him successful
at home. The most remarkable illus
tration of this is the Congress that has
Just adjourned. Instead IF relief, we
had a babel of propositions which only
added to the general confusion, and
made the day of the adjournment OF
Congress a day of national thanksgiv-
Ing. The national chamber of COM
merce would be kindergarten of
economical and financial questions for
the instruction of members of Con-
gress."
Freight Rates.
The speaker went into details on the
freight rates of the world. showing
was only one-third that OF Europe.
Continuing, he said:
1.-The internal commerce Of the
United States makes our country the
most wonderful market ever known.
Our internal commerce IS so vast that
she commanded the world. of Genoa,
when she was queen of the Mediter-
ranean, of Venice, when she COM
manded the seas. are but as rivulets
to the Father of Waters
1--WE will always avoid complications
in European and Asiastic politics. but
no foreign power can exercise a hos
America, or Mexico. or any sister re-
public of the southern hemisphere,
without receiving from us protest and
resiStarcN
Flow are we to preserve our pros
perity? With confidence, a business of
magnitude can get along
with very little currency; without con-
fdence. there is not enough money In
the world to conduct the business OF
the United States. We have been at
the bottom and we are on the upgrade
Of prosperity. We should have a
revenue system so well defined that It
could not be disturbed except in minor
details for a generation. While not
discussing the tariff ov- free trade. we
should have a revenue system which
will meet the requirements of the gov
eminent and to support it without
direct taxation.
Gold. Gold. Gold.
1.-THE United States is debtor
national, municipal. railway and in
dividual-to the extent of about four
teen billions of dollars. Of this. one
third is held abroad. A wel1-defined
policy to pay our debts at rs cents. or
at so cents on the dollar would lead to
two thousand or three thousand mil
lions of dollars of our securities com
ing home for US to take. The presen-
tation of them in our markets would
endanger the stability of every bank.
derange every exchange. and paralyze
every industry in the United States.
There can be but one standard of value
and that is a metal which will bring
the same price whether it is in bar or
has the stamp of the government on
it. A dollar must be worth a hundred
cents anywhere in the United States
and hundred cents anywhere in the
world
1.-The Effect Upon Commerce of
Pooling by Transportation Lines was
to by George r. Blanchard,
commissioners of the Central Traffic
association.
Hon. o. d. Ashley. president of the
Wabash railroad, responded effectively
to Commerce and Transportation,
One and Inseparable."
Ec~eis on "Currency."
Responding to the toast Our Cur
rency," Comptroller Eckels said:
1t is impossible within the limits Of