New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-28
PRICE THREE CENTS.
CURRENCY REFORM NEXT.
A SIGNIFICANT ADDRESS BY SECRETARY
GAGE.

SAYS THE ADMINISTRATION is BENT on sE-
CURING A BETTER MONETARY SYSTEM.
Boston, July pa dinner notable for the char.
acter and standing Of those who attended II was
given for Lyman J. Gage. Secretary OF the
Treasury at the Tuetes In Commonwealth
ave-, this afternoon The business men OF Bos-
ton were sponsors for the occasion, and their
object was to hear Mr. Gage on the financial
question Money was talked almost exclusively.
number of Gold Democrats were present. Mr.
Cages reception enthusiastic, and his ad-
dress was attentively followed.
Secretary Gage held a reception before the pan-
quet When the dinner had been eaten Con-
gresham William c. Lowering. OF Massachu-
setts. who presided. briefly stated why Boston
business men felt so keen an interest in National
financial affairs.
SECRETARY CAGES SPEECH.
T. Jefferson Coolidge gave the welcome to Sec
retary Gage with tribute 10 the latters posi-
ton In financial circles. Secretary Gage, being
thus introduced. said:
Mr.. Chairman and Gentlemen: My powers OF ex-
preston quite inadequate TO proper acknowi-
edgment OF the courtesies extended TO me by you
and by your people In the simplest manner
must say thank ycu and assure you that the jls-
tlncton accorded me IS most highly appreciated In
fact, It is distinction in itself to be IN Boston AZ
all, even without the establishment OF your cordiai
welcome. Ii is especially so 10 a man from the
West where we have not yet become the inheritors
of a past rich in historical treasures commemora-
tive OF heroic achievements for liberty. To every
American youth. wherever born. II educated even IN
the rudest OF our common schools, Boston becomes
the shrine Of patriotic devotion. Ny own earliest
impressions associated with the celebrated TEA
party and the Battle OF Bunker Hill. and my heart
still beats in quicker rhythm as thrk or read OF
.ho nj
| remember however, that certain general bear
ing my family name was on the English SIDE that
ne made himself especially obnoxious to Boston
people and pestered the boys for coastins down
Beacon Hill 0f that indeed the hilD, wonder
II have any just lot or part in all your glorious
memories or even any claim upon your hospitality
But we cannot live on the history OF the past
The present Is making its own history, less piooo'
perhaps, not 50 full Of dramatic elements put
equally influential It may be, upon future des''es
We have met here in period fraught with us own
interests. Opposing forces met In November las.
and contended bitterly the most vital Oh
economic questions While the issue was pehdihs
the profitable arts of industry came to nearly
| standstlll. Trade and commerce deciihed 10 'he
narrowest limits and in breathiess suspense those
who could comprehend the deep import OF the issue
waited for its determination. That issue is no" oe-
cided The ballot magic exponent OF the popular
will has recorded its imperative voice for honest
money and for liberty regulated by law
NET YET TIME TO REST
T, now remains TO be seen whether from that &C.
csion there is TO be any successful apped" !" "
this that gives interest, anxious interest 10 'he
prospective action Of hose Who cothed VII" 's
i.tive and executive functions have It in their power
70 make secure the fruits of victory. or who "
falling to comprehend their hgn responS'o'' o '''
'e pon Ip the possible doubts involved in this as'
ion OF enterprise still hesita,e ,h sn ranks 5t
vnt Somneteiy hied Is there room for DOUBT On
80 plain proposition? There ought bs 10 %opking P Of
that principle Of human nature which g, cOaSes Ss,. rs
to ease after effort ihat whlGh spirit Of nacviy
Which on more than one occasion kept the arm Ar, S
of the Union from s e the conedeae
| columns as TO turn them back from the easy S~S'
ure 81 9It as the duty of seem: 70
be do not yourselves suPnem m ress nerfaPmed SU when
it rains the root is not mended because use the indS
when is fair the n roof esss not fk have
through wearisome storm the oss ana GO roSt "a, ~
,bn breeZe of prosperity brings comfort and resto
ration shall re we not & be % rn fooshy wait for
if not to invite further disaster in the future the
| urgency or the indifference OF the people
THE PRESIDENTS WISHES
r,. administrative branch of the Government
| will not sleep nor rest inactive. Its influence mas
been and will be for prompt and judicious actions
| The evidence OF this fact is fresh at mana III inc
| message just now submitted 20 Congress oy the
| President from which quote one or TWO para
| graphs:
"A bill TO provide the necessary revenues for
| the Government has already passed the House OF
| Representatives and the Senate and awaits Execu-
yS ac.oh is that Of the Of our
rency and banking system on better basis. whicn
/ commented upon IN my inaugural address IN the
financial system needs some some si reysioT ion tI our
ther be threatened II should all be put, upon an an
Idis sabity to doubt or dispute The several forms o.
our paper money offer N my 5udgmen ma ner ~
safe balance in the Treasury
Nothing was settled more clearly at the late,
mentioned election than the determination on the
part of the people to keep their currency stape In
value and equal to that of the most advanced ma
But the Administration cannot make laws; Il
0 td ,ss sm soy hsy
attention is to be given II you desire hnancia re.
consc,onsv antasonize your we-considered DE-
sires. but they must be Informed and constantly
reminded of what II Is that you demand
DIFFICULT QUESTION.
And now. what is it that ought to be done to
give security and protection to the future? To this
there are many answers. and to every answer
MANY obiectors We have indeed delicate and
difficult problem to solve, the difficulty being ag-
gravated by the fact that ignorance. prejudice and
passion enter In 10 compllcate and vex the solu-
ton This is one Of the penalties which popular
government must pay IN return lot lts Huiuldtious
and eminent benefits. With these drawbacks We
| can nevertheless. with patience find our way.
The recommendation of the President for a COM
mission was admirable in this, that IL suggested
a way by which a body Of wel-trained and
thoughtful men could be provided 10 consider at
leisure without distraction from other pressing
themes the important subject OF currency and
10 %nSs could "a be admed es evy
trbutive suggestion from al classes and conditions
of men And II there Is anything dear to an
American heart II is the privilege OF having his
say. Give him his say in court. let his argument
| a,,d tbap 10 Is
rests satisfied 10 these incidental moral advan-
tages may he added the reasonable expectation
thar the commission would have been able TO
gather in most valuable informal tion and finally
10 formulate wise recommendations worthy OF
| earv and favorable consideration by Congress at
the regular session next winter. That the bill,
which passed the House with promptness. failed