The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-11-24
GAGE, CHAMPAGNE, CURRENCY
THREE ELEMENTS In A NEW
YORK BANQUET.
Secretary of Treasury Delivers an
After Dinner Speech Against the
Silver Propaganda.

New York, Nov. 23.-The one hun
dred and twenty-ninth annual dinner
of the New York chamber of commerce
was given at Delmonico's new restau-
rant tonight. Men distinguished in
professional and commercial life were
present and the beautiful banquet hall
was packed to it's utmost capacity
Secretary of the Treasury Lyman ].
Gage was the guest OF honor and the
chief speaker. Alex L. Orr, president
OF the chamber, presided. Secretary
Gage spoke to the toast Currency Re
form, Now or When?" He said in
part:
our fathers had grave problems to
solve. Our own are equally serious;
they are even more complex. The
fidelity shown by the fathers should
fifty example our fidelity. That is the
price through which the good we en-
joy may be hOnorably possessed, added
to and passed on to those who fol-
low US.
we are met just now with one of
those problems which must be bravely
faced and wisely solved For four
years its injurious shadow has de-
pressed industry and enterprise.
Thanks TO the wise instincts of our
people and to their declaratory voice
have come to lit doubts, to Danish
fears, TO brace hope and to lend cour-
age.
INVEIGHS AGAINST SILVER.
This happy reaction in enterprise
now witnesSed-the stimulation to in
dustry-which has followed this new
assurance, is q cenfirmatory evidence
Of the tlighting influence of that fierce
propaganda Zoe, free silver, and which
met its just rebuke in 1896. Speaking
broadly, L believe that the share ana
destiny of our life as il may be al
fected by financial legislation is to be
determined within the next four years.
F'our years is a period so short in
peoples history as to bar all idea of
IuturIty and to require IL substitution
Inc more immediate cmnipresent now.
Ahe forces and energies which found
victorious expression III the last elac-
ton are as significant now as they We're
then. Are We intelligent and courage
Gus enough to take the action their
present warrant iUstiGes and secure the
future against the dangers which have
been Tor the present overcome?
QUOT1NG MAxIMs.
1T is said that under present condi-
tons II is impossible that obstruction
lists can hinder and defeat the popular
viii; that agitation on so dslI.;.te :,
subject as the meEey standard is dis
turbing; that we have the best of guar
S,nteeS that for four years the proasnt
status Will be maintained; that the re
viYal of business will be best assured
by the policy Of inaction. Covered in
one sentence. all this is summed up
in the much abused maxim let We'll
enough alone The maxim applied is
indeed a wise one, but the wisdom OF it
lies in the application Of it.
W hen ultra-coNservatisrn applies it
to justify a condition which is bad
enough instead OF well cnDuet Il
IS fatally misapplied That the cOndi-
ton of our currancyand banking sys-
tenn is bad enough is certified to by
the deliberate judgment Ct The ,;r.l
body Of economic students and by q
general consensus of opinion among
business men.
CAGES PROPOSITION.
The establishment Of our currency
and banking system upon more secure
foundations is the one thing lacking to
the things which make for Il l}arID at.-i.s
condition Of reasonable prosperity. In
q word I commit myself to the follow
ing proposition.
At a cost too contemptibie Tor se2i-
Gus consideration the debatable condi-
ton of our currency and banking sys-
tenn may be put on clearly safe, il not
theoretically scientific foundations.
This may be secured without any nee
eSsary contraction OF the circulating
medium of exchange and with TO dan
ger Of an undue expansion, ard best
OF all. this desirable end may carry in
its effect potential relief TO those dis
tricts in the south and west which,
though rich il possibilities of soil ana
climate have been held back, through
the absence OF banking capital ard
credit facilities. Nor viii I permit ny
self to doubt that in the councils of our
nation, wise craftsmanship supported
and sustained by the wisdom and val
ue of pure patriotism among our PEG
pie viii find the way to the much need
ed result"
Governor Black, General Merritt.
Commodore Bunce, Mayor Strong and
President Gilman, Of Johns Hopkins
university raSrOn6pd TO foactc