The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-01-19
President James Spoke Of the
Issue of Bonds to Maintain
the Reserve.
ANDREW D. WHITES ADDRESS.
Declared That the Diplomatic Service
Was a Cheap Defense of
i the Nation.

NEW YORK. N. Y, Jan. 1.-THE
twenty-third annual banquet of the New
YORK Board of Trade and TRANSPORTATION
was held to-day at the Hotel Savoy. More
than 200 guests sat down to dinner. Ex-
Congressman Darwin R. James, the presi-
dent OF the board, presided. At his right
sat the Hon. Adlai E. Stevenson, Vice
President of the United States, and on his
left was The Hon. J. Sterling Morton.
The others at the Presidents table were
the Hon. Andrew D. White, ex Minister to
Russia and United States Venezuelan com
missioner, Congressman Richard e. Shan
non OF New York, Hon. William Dudley
Foulke of Richmond, Ind, Mayor Strong,
Hon. Frederick W. Wurster and Hon.
Murat Halstead.
The banquet hall was beautifully deco
rated with flowers and plants. On the
principal table was a model of the Ameri-
can line steamship st. Louis and a model
OF a locomotive. Among those present
were: Sheppard Knapp, Oscar S. Strauss
Louis Stern, F. B. Thurber, Simon Steine,
Samuel Mcmillan, Rastus s. Ransom,
General Benjamin Flagler, Captain II. D.
Borus, Q. S. A., and General G. D. Bryant.
When the cloth was removed President
James arose and spoke in part as follows
II desire to turn thoughts for few
minutes to the spectacle which our great
Nation of 100000 of our people is pre-
sentlng to ourselves and the CONNER
cial world beyond the seas.
'For the third time in about two years
sheis offering her bonds for gold in order to
maintain the reserve required by law, and
which reserve will doubtless soon melt
away, requiring another sale and still an
other, unless. perchance Congress steps in
with some remedy, the prospect of which,
l regret to say, is not favorable.
"In conclusion let me say that in my
judgment the postponement of the era of
prosperity is commensurate with legisla-
ton that will take the Nation out OF the
banking business, with an income sufh-
cient to meet her obligations and return
to the system of gold revenue for duties on
imported merchandise"
The chairman next introduced Hon.
Andrew d. White, who responded to the
toast, Commerce and diplomacy" After
showing how zealously the American Min
listers have kept guard over the interests of
American commerce and manufactures in
the Government to which they are accred-
tied, Mr.. White said:
But objection is sometimes made to a
regular diplomatic service on the ground
of its cost l think you will see in a mo-
ment that the diplomatic service may well
be called the cheap defense OF nations
The entire appropriation for the diplo-
matte service for the last fiscal year was a
trifle over $500, 900, but the cost of military
and naval opera tons during our Civil
War for each day was to the United States
about $4,000 The cost OF r. tary
operations during the late Fran rus
sian war, if divided equally betN cen the
two nations, would have amounted each
day to considerably more than So, 100000.
at is altogether probable that Charles
Francis Adams, by his timely remon-
STRANGE with Earl Russell, prevented
prolongation of our Civil War, which
would have cost us more than the entire
diplomatic service during hundreds of
years.
But you will ask, How shall our pres
ent system be improved? AS 1 said before,
what is needed is not revolution but evo-
luton Our present system is far better
than it once was; and let me say here
that sundry expressions which some of
our pesslmists have put forth regarding it
DO our country great wrong.
speaking with entire deliberation and
knowing that am we'll within the facts of
the case, l assert that no other country
has been so steadily represented in Great
Britain by such a series of distinguished
and capable citizens as has our own Gov
eminent, beginning with John Adams
and including the honored gentleman
who at present holds the position of EN-
bassador to the court of st. James. With
occasional exceptions, the same thing may
be Justly said of several others among our
legation at leading capitals in Europe"
Vice-President Stevenson was intro
duced to the meeting. There were loud
calls for speech, but the Weep President
simply bowed his head in response to the
calls.
Mayor Strong then spoke briefly on the
power OF the Board of Trade and similar
organizations throughout the country.
Congressman Richard Shannon of New
York was the next speaker. He responded
to the toast of Latin America"
DIR. William Pepper of Philadelphia
spoke on 'The University of the United
States" and ex-Cengressman William
Dudley Foulke of Indiana spoke of the
relations of civil Service Reform and
Commerce" in an effective address.
Mayor Wurster concluded the festivities
with short speech on Brooklyn"