The age-herald., 1897-11-24
COMMERCIAL MEN
 OF GREATER N. '. Who Represent the Chamber Oi Com merC0 at Their Annual Dinner. LISTEN TO LYMAN J. GAGE Secretary Of the Treasury, in His Dis CuSSion Oi Currency Reform. HE SUBMITS A PROPOSITION At a Cost Too Small For Consideration the Condition of the Currency and the Bank
 ing System May Be Put 0ua
 Safe Foundation.
HE SUBMITS 4 PROPOSITION

New York, Nov. 23.-The one hundred chamber of commerce was given at Del monico's new restaurant in Fifth avenue and Forty-fourth street tonight. Men distinguished in professional and com mercia1 life were present and the beauti- ful banquet hall was taxed to it's utmost capacity. Secretary of the Treasury Ly- man J. Gage was the guest of honor and speaker. Alexander D. Orr, president of the chamber, presided.
 Among the guests were Secretary of War Russell A. Alger. Gov. Frank S. Black. Comptroller of the Currency, J. H. Eclkels, Mayor William l.. Strong Presi- dent Daniel c. Gilman, of Johns Hopkins university; Major General Wesley Mer- ritt, Commodore Franc,s n. Bunee, U. s. N; Cal1 Schurz and Whltelaw Reid.
 Seth Low. who Is an honorary mem- ber. was not present Neither wens Mayor Elect Robert A. Van Wyck. In fact it can be auttorltaitlvely stated that the latter was not invited.
 It 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 drank standing, with thnee rous- ing cheers, while the orchestra played ''The Land of the Free''
 Secretary Gage was flatteringly re- cefved when he rosa to speak to the toast, Currency Reform, Now or When?"
 The secretary pead he speech from manuscript
 He said in part:
 Our fathers had grave problems to solve. Our own are equally serious. They are even more complex. We are met just now with one of those prob lens which must be bravely faced and wisely solved. It s question funda- ms ntal, in a material sense to the well fare of every member of the mighty group which constitutes our national
 For four years It's injurious shadow has depressed Industry and enterprise. Thanks to the wfsa instincts of our peo- pie, and to their declaratory voice ut tered in November last, assurances have come to Lift doubts, to banish fears, to brace hope, and to lend courage.
 Speaking broadly, I believe that the shape and destiny of our national life as it may be affected by financial legis- lation, is to be determined within the next four years.
 
 it is impossible that obstructioniSts can hinder and defeat the popular will. That the condition of our currency and bank ing system is bad enough" is certified to by the deliberate judgment of the great body of economic students and by a genral concensuS of opinion among business mem
 It certainly is not we'll enough with a banking system utterly inelast,c and cor ntespondingly irresponsive to the domestic requirements of trade and industry to which, in it's proper relation, the banking system should be the faithful and ef- hcient handmaiden.
 It-is not well enough with the national treasury awkwardly performing an of flee which is entirely foreign to it's proper function. It Is not well enough, it is absolutely bad, when the result is a pub lie treasury so expanded in its demand liabilities In a time eff profound peace as to threaten it's solvency in case of war. Thomas Jefferson, the putatve father of democracy, himself declared:
 During the interval between war and war all the outstanding paper should be called In, coin be permitted to flow in again, and hold the field of circulation until another war should require it's yielding place to the national medium" - The text m which I was called to speak is thus stated: Currency Refcrin; Now or When?" Everyone favors refoam--,his kind of reform. Many arr willing to have re- form, anybody's kind. if 1t can be had without struggle and free of cost
 The first group embraces the radicals and faddists of every kind who will to- crate no method not individually tn .dr own
 The second group. the indifferent fpany, prate reform. but are fruitful only in objectlons. You may retire the greenback, or otherwise reduce the re- dundant issues of the national obTga- tions payable on d mand. but, strange Inconsistency you must not issue bonds in a time of peace-not even to dis charge sacred obligations incurred in