Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-07-05
BAYARD TALKS ON FINANCE
Late Ambassa to England Discusses the
Currency Question.
At n Philadelphia Patriotic Meeting
He Warns His Hearers Against
UnsOund Money Views.

PHILADELPHIA, July 5.-The one hun
dred and twenty-first anniversary Of the
signing of the Declaration of Independence
was celebrated today in front of Independ-
ence Hall. The celebration was under the
auspices of the Society of the War of 1872
OF pennsylvania. The ceremonies consisted
OF an address by Mayor Warwick. reading
or the Declaration of Independence and
singing by school children.
Mr.. Thomas F. Bayard late ambassador
to England. was the orator of the day.
Mr.. Bayard prefaced his address with a
brief history of the country from the time
of George Washington up to the present
day. He said:
w hen We cease to remember George
Washington We shall be In peril, for If he
Is 10 be forgotten and his preceptS and eX-
ample cease to guide us and be our ami
mated rule of action toward each other
our best hopes ror our country's glory and
the perpetIity of free institutions under
republican form of government will have
faded Into doubtful and unreliable exist
ence.''
The speaker. in referring to the Declara-
ton of American Independence, said:
American Revolution Justified.
Never was the Declaration of American
independence in 1916 justified before God
and man as it is by the relations and con-
tions which exist today Never was the
United States so great or powerful in ma
terial wealth and resources never so
Srandly independent, and never was the
empire of Great Britain so mighty, so
strong in all the constituents of civilized
power.
And. thanks be to God never We're the
International relations between the people
of the two countries in clearer atmos-
phere OF unmistakable mutual good under
standing and more free from ignorant sus-
plcion or hostile intent than on this one
hundred and twenty-first anniversary of
American independence"
Mr.. Bayard concluded as follows:
Cloud on Social Horizon.
To-Day there Is in the minds of thinking
men in this country widespread and
vague urcasiness on a question which casts
its shadow over the outlook of business
and beclouds the atmosphere of hope and
enterprise.
Capital Is one form of property and is
sensitive. and sI.rlnks and withers when its
confidence is weakened. Such apprehen-
slons. everywhere, vague and underlined
chill the energies of men and check their
enterprise, and labor waits for capital to
regain its courage and smooth aWay the
objections and danger which impede en-
ployment, and to bring the energies of in
diviGuals into cooperative action. And
while labor is waiting, suffering does not
wait. and worn faces and hollow checks
tell the story. amid mutterings of Giscon-
tent. All this can be relieved for there does
not Seem much doubt to the true cause
that 'dullS the edge of enterprise and sick
lies DER with the pale cast of thought and
the business of our country.
Caused by Financial Apprehension.
rs 1t not the uncertainty in mems minds
as to what may be done with the currency
of the country, which is the very basis of
commerc ial and industrial life and runs
through every artery of the body polite ?
A arrangement of the currency of a coun-
try is like unto poisoning OF the life blood
of a man. and no greater danger can await
US. A disCrdered currency will confuse ard
demoraliZe every transaction in life. great
and small, from the payment of The daily
wages of labor to the financial ARA ge-
mentS to carry out the rastest enterprise.
No contract can be safely agreed upon.
and no business can be safely conducted
under it, and no fabric of the savings of in
dustry or accommodations of capital can be
built upon it or prosper in its company.
''To embark the business and contracts of
a country upon a currency which is not
firmly anchored upon stable standard and
measure of value is to insure ruin and dis
aSter to every member of society.
mo elections are now pending. but the
time for decision approaches with newt
able certainty and from.a full heart and in
all earneStness ard sincere affection, l con
jure my fellow Countrymen. casting aside
all other differences of opinion to reject
the nostrums and delusive remedies which
n seasons of popular distress or excitement
induce the foolish and impious belief in the
power of any government TO create values
by statute"