Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1897-11-25

the welfare OF every member of the
mighty group which constitutes our
national life. It touches the humble
and dependent more closely than 1t
does the strong and powerful, although
in its final determination the far reach
ing destinies of all are involved.
II believe that the shape and destiny
of our national life, as it may be affect
ed by financial legislation, Is to be de-
termined within the next four years
The forces and energies which found
victorious expression in the last cleo
ton are as significant now as they were
then.
1T is said that under present condi-
lions 1t is impossible that obstruction
lists can hinder and defeat the popular
will; that agitation on so delicate a
subject as the money standard is dis
turbing, that we have the best of guar
antees that for four years the present
status will be maintained; that the re-
vival 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 well
enough alone The maxim well ap-
piled is indeed a wise one, but the wis.,
dom of it lies in the application of it.
when ultra conservatism applies it
to justify a condition which is bad
enough instead of well enough it is
fatally misapplied. That the condition
of our currency and banking system
is bad enough is certified to by the
deliberate Judgment of the great body
of economic students and by general
consensus of opinion among business
men.
1T certainly is not well enough with
a banking system Utterly inelastic and
correspondingly irresponsible to the do
nestle requirements of trade and in
dustry to which, in it's proper relation,
the banking system should be the
faithful and efficient handmaiden.
ut is not well enough with the ma
tional treasury awkwardly performing
an Office which is entirely foreign to
its proper function. 1t is not well
enough, it is absolutely bad, when the
in its demand liabilities in a time of
vency in case of war.
1.-THE establishment of our currency
and banking system upon more secure
foundations is the one thing lacking to
the things which make for a perma-
nent condition of reasonable prosperity
In securing this the pioneer in the west,
the laborer in the mines, the toiler in
the field, the mechanic in his shop, the
merchant and the banker, are all,
whether they know it or not, each In
his degree alike interested.
eat a cost too contemplate for seri-
Gus consideration, the debatable con-
dition of our currency and banking
system may be put upon clearly safe,
If not theoretically scientific founda-
lions. This may be secured without
any necessary contraction of the cir
culating medium of exchange and with
no danger of an undue expansion, and,
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 in possibilities of soil and
climate, have been held back through
the absence of banking capital and
credit facilities.
Nor will I permit myself to doubt
that in the councils Of our nation a
wise craftsmanship, supported and
sustained by the wisdom and value of
a pure patriotism among our people,
will find the way to the much needed
result
Governor Frank S. Black responded
to the toast 1.-THE State of New York.
He, too, was warmly received, and like
the preceding speaker read his speech.
which was frequently applauded.
General Wesley Merritt spoke to the
toast, 1.-THE Army" and Commodore
Francis M. Bunce spoke for "The
Navy" Mayor Strong also spoke.