Gulf Coast breeze. [volume] (Crawfordville, Fla.) 1897-19??, 1897-12-03
GAGE TALKS OF CURRENCY
ATAyNUAL DINNER OF NEW YORK
CHAMBER OF COMMERCE.
TREASURER WAS GUEST OF HONOR.
He Discussed Currency Reform-Now o,
wben"-But Fouget shy OF the
Important Glow"

The one nundred ana tWenty-nlntn
annual dinner OF the chamber OF com
merce of New York City was given AZ
Delmonico's new restaurant on Fifth
avenue and Forty-fourth street Tues
day night. Men distinguished in pro-
fessional and commercial life were
present and the beautiful banquet
hall was taxed to its utmost capacity.
Secretary Of the Treasury Lyman j.
Gage was the guest Of honor and chief
speaker. Alexander E. Orr, president
of the chamber, presided.
1t was long past the appointed time
when President Orr arose and made
the Introductory speech.
The health of "The President of the
United States" was then drunk stand
ing, with three rousing cheers, while
the orchestra played "The Land Of the
Free"
Secretary Gage was hatteringly re-
ceived, when he rose TO speak to the
toast Currency Reform-Now or
WhenW
Secretary Gage began by referring
TO the history Of the chamber during
the one hundred and twenty nine
years Of existence and OF the serious
and important problems which the
pioneer members and those who fol-
lowed them had to solve. Those Of
our day, he said, were equally serious
and even more complex. One of these,
he declared, is fundamental in q ma
terial sense TO every state. "For four
years." he said, "its injurious shadow
has depressed industry and enter.
prise;" but he finds in the result OF
the last national election assurances
to lift doubts, to Danish fears, to brace
hope and to lend courage"
This happy reaction in enterprise
now Witnessed" says the secretary,
"the stimulation to industry which has
followed this new assurance, is q con-
frmatory evidence of the blighting in.
fuence of that fierce propaganda for
free silver and semi.repudiation that
met its just rebuke from the freeman's
ballot ip1s96.'"
Secretary Gage declared that he be.
lieyss khe shape and destiny of our
national life, as It may be sSSesd .
financial Legislation, is to be determ-
ined within the next FIVE years.
"When ultra conservatism applies
IL 10 Justify condition which is bad
enough instead of well enough, 1t Is
fatally misspplied," he. continued.
THAT the condition Of our currency
and banking system is 'bao enough Is
certified TO by the deliberate judgment
of the great body Of economic students
and by general consensus OF opinion
among business men.
cit certainly is not we'll enough
with banking system utterly inelas-
tic and correspondingly irresponsive
TO the domestic requirements Of trade
and industry TO which in Its proper
relation the banking system should be
the faithful and efficient hsndmaiden.
II is not we'll enough with the national
treasury awkwardly performing an
Office which is entirely foreign to ito
proper function. II is not we'll enough
It is absolutely bad, when the result il
q public treasury 30 expanded in Its
demand liabilities in a time OF pro-
found peace as to threaten its solvency
in case Of war;"
The secretary was glad he was not
called upon to discuss the chow" o,
to go into details OF methods to achiev,
currency reform. To go into that dis
cussion might be iniudicious in view
OF his official position and would b,
entering upon the field Of creates
controversy where doubts and fearl
are now numerous and where passion,
and prejudices have their freest play
Said he:
Every one favors reform-his kline
of reform. Many are willing to hav,
reform, anybody's kind, and 1t can b,
had without struggle and free of cost
Others, seeing that the path Of virtu,
leads to serene and restful places, or
willing to walk in the way Of il, evel
at the cost of present pain and sacri