Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-07-28
SECRETARY GAGE
rendered a Dinner by Promi-
nent Men of Boston.
The Secretary Delivers Most En-
couraging Address on Finances.
All Present Pledge Support 10 The Proposed
New Currency System.

Boston, July PA dinner notable
it, was rendered Hon. Lyman j. Gage.
secretary of the treasury. at the Tuil-
leries, on Commonwealth avenue, this
afternoon. At the tables were the most
prominent professional commercial
and moneyed men of Boston and
number from New England at largf.
The business men of Boston we've
sponsors of the occasion and the de-
fined object was to hear Mr.. Gage on
finances. Money was talked almost
exclusively and while it was a nom
partisan gathering. a number of men
prominent in the last campaign as Gold
Democrats, were among those who con-
tributed to the symposium.
Mr.. Cages reception was a very en-
thusiastic one and his address was
keenly listened to and at times ap-
plauded without stint, while the men
who followed him were unanimous in
their speeches in pledging the admin
istration their support in it's endeavor
to formulate a new currency system
The tariff as factor. and the passage
of the tariff bill were chiefly touched
upon as incidental to what was called
the greatest problem now confronting
the country.
Secretary Gage, who was the guest
of Hon. Chas. S. Hamlin ex-assistant
secretary of the treasury held recep-
ton prior to the banquet. When finally
this incident had been disposed OF,
Congressman William c. Lowering of
Massachusetts, informally assumed
r. n IF ha
stating why Boston business men felt
so keen an interest in national financial
affairs, one fact being cited that Bos-
ton, when the gold reserve was in
danger, made the first response with
gold
Hon. Jefferson Coolidge gave the well
come 20 Sec. Gage. with a tribute to-
the latter's position in financial circles
of the West and the elements in his
career which have appealed to men of
the East Secretary Gage was then in
troduced and said:
Mr.. Chairman and gentlemen.
After referring to historic struggles OF
former times Secretary Gage said: OPP
posing forces met In November last, and
contended bitterly over the most vital of
economic questions. The ballot the
magic exponent of the popular WILL re-
corded its imperative voice for honest
money and for liberty regulated by law.
Il now remains to be seen whether from
that decision there is to be any successful
appeal.
Upon the possible doubts involved in
this question, men of enterprise still hes
itate and the columns of industry march
SLOWLY with ranks not yet completely
hlled. Is there room for doubt on SO
plain a proposition? There ought to be
none There would be none except for
the working of that principle of human
nature which coaxes us to ease after eft
fort-which induces us to contemplate
rather than act.
I'VE have passed through wearisome
storm. The loss and cost of it has been
enormous: but, today the skies are fair
the breeze of prosperity brings comfort
and restoration. The administrative
branch of the government has been and
Will be for prompt and judcious action.
The evidence of this fact is fresh at hand
in the message just now submitted to
Congress by the President,
Nothing was settled more clearly at
the late national election than the deter
mination upon the part of the people to
Keep their currency stable i'm value and
equal to that of the most advanced ma
tons of the world. But the adminstra-
ton cannot make laws. 1t can only exc
cute them after they are made. 1t is then
= the legislative body that your thought
ful attention Is to be given, If YOU desire
financial reform. Your senators and rep
resentativeS will not consciously antag-
onze your well considered desires. but
they must be informed and constantly re-
minded of what ii is that you demand.
And now what is 1t that ought to be
done 10 give security and protection to
the future? To this there are many an
sWerS, and to every answer many OBJ
lectors. The recommendation of the
President for a commission was admir-
able in this that ii suggested a way by
which body of well trained and thought
full men could be provided to consider at
leisure, without distraction from other
pressing themes, the important subject of
and banking reforms. That the
bill which passed the House with prompt
ness failed of recognition in the Senate
may be matter of regret. but not one
Tor disbursement. What might have
been accomplished through a commission
may he achieved without one.
The two questions before the country
IN the last political campaign We're the
arin and the currency. One of them is
already settled. Whatever the merits or
iemerits of the new measure in its par
ocular items. ii has become the law of
he land. The revenues derived from it
Will. after possible brief interregnum
De ample for proper government expendi-
ures; and if the old aphorism be true
hat the revenue of the state is the
tate, we may say without exaggeration
hat the state is re-establshed. We have
llso reached point where with the alb
olute data furnished. commerce and
can make correct estimates
md go upon their respective missions of
and production with a new
ense of security.
The responsible party in power, having
covered this one important
ssue. may be safely trusted to care
qually well for the other. On the finan-
ial side there is really no pressing need
or haste. With ample reserves in the
ublic treasury: with financial centers in
full supply of loanabie funds; with in
crest invitlngly low: with crop pros
ects most promising and "A good market
avorably assured: with new mineral re-
ources coming into view: with a terri
otial area sufficient to carry its present
opulation many times multiplied; with
eople advancing in the elements Of in
diligence and character. who dare in
ulge in doleful forecasts?
I'VE need not ignore the fact that there
re many wounds to be cured excited
ASSIGNS to be Gained. and many misun-
erstanding to be composed. Time will
0 much TO restore, and the natural laws
operating. will bring i'm at
lst their conversations. The problems
democratic society developing in all
irections are many and troublesome.
hey must be met with patience We
lust not lose faith nor abate In courage
NTH malice toward none, with charity
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