New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-06-10
AT THE CHAMBER OF COMMERC
DELEGATES RECEIVED BY J. EDWARD SIMMONS
-ALUNCHEON SERVED.

DELEGATES RECEIVED BY J. EDWARD SIMMONS
A LUNCHEON SERVED
The principal affair OF the day was the reception
and luncheon given by the Chamber or Commerce.
So great was the attendance of members that all
OF them could not find stlnding-room In the Cham
Ler's ouarters and the overflow extended well
into the passages AS as the delegates were
seated Charles Stewart Smith. chairman or the
Chamber Of Commerce Reception COMMITTEE pre-
scented them to j. Edward Simmons who presided
I'm ,he absence OF Alexander +. Orr. The warmth
OF Mr.. Slmmonss welcome was not lost upon 'he
quests and his remarks were listened 10 with close
and earnest attention. Speaking OF the relations
which should exist between the great Repupiic OF
the north and the countries on the sd'ie c'''''''
Mr. Simmons said:
..In busincss as well as In morals we must do
INTO o,hers MS We would have them do unto us
ON this principle, the Pan-American congress
which met at Washington seven years ago was
built up The policy Of reciprocity. the poicy OF
rive and take is the only policy possible Tor
nation which desires TO trade with other nations
cn 4 large scale II IS because am convinced or
the truthrulness Of this statement that make boid
10 declare that the progressive ricrchah's OF tho
United States it's leading manufacturers, It's in
dustrallsts and its bankers cannot ana do not
approve Of building around our country by ieglS-
,a,,vc enactment n commercial Chinese wall that
I'm oxcIudc the countries you represent from the
oro,r.uri,ios which we seek for ourselves BE as
eurcd gentlemen. that. whatever theorists may
,roach the business men OF the United states are
TOO intelligent to expect you to buy our products
while we exclude yours
Arthur s. Hitchings. OF RIO de Janeiro In reply
read long address advocating the introduction OF
=, international coin The necessity for II. he
maintaincl became more and more obvious, but
i,s adoption must be subjected to such scientific
rules and to such painness for the understanding
~ all classes as to make conversion practically
easy Then Mr. Hitchngs explained suggestion
int
currency which he thought would meet the re-
qurcmcnts Of the times.
"lIv proposal" he said. lis that the unit for
currency should be the grain Of gold. That the
rolatIou Of silver to gold shall be per cent; that
IS 90 TO J. instead of the existing proportions that
all coins whether small or large. which are OF one
~ these metals should be exclusively OF the given
standard That whenever these metals are used In
trade or art the quality ehall be decimally
slammed and declared and shall lose Its character
istic name where us purity be reduced 70 mar.
That IT shall be considered a fraud to sell any
precious metal such II II does not contain IN us
purity one-half or more -, ,
Il Propose to make silver subsidiary TO gold and
limited 10 the requirements OF each OF the coui.
tries In which 1t Is coined. No foreign payments
can be forced in this metal , ~
II propose, gentlemen. that there shali be Two
coins Of gold of ten grams and one OF I'VE
silver coins will. state on the one SIDE thelr nietal
weight. and on the other their monetary vaiuc Oh
god weight .., 49,. ,,,,,
a,t,ntion and at the close he was questioned by
many members for further calculation OF MS pro-
posais. ..o ,a,,,,,os
were entertained by the Chamber OF Commerce AT
luncheon.