The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-28
SAYS SECRETARY GAGE
TRUST ARE THE DEVELOPMENT
OF NATURAL LAWS.
HIS ADVICE, GRIN AND BEAR IT
There is No Need For Haste--No Occasion For
Anxiety, But the Soundness of Our
Currency Must be Pre-
served.


Boston, July 21.-Lyman Gage, Sec
retary of the Treasury, was the guest of
the business men of Boston at a dinner
in the Tuilleries this evening. Money
was talked almost exclusively, and a
number of Gold Democrats were among
those who contributed to the symposium.
Mr.. Cages reception was very enthusi-
astic one, and his address was closely lis
tened to. The passage of the tariff bill
was touched upon as incidental to what
was called the greatest problem now
confronting the cuontry. The dinner was
attended by about $50 of the leading men
in the professional and commercial life
in the city. An informal reception was
held preceding the dinner which occurred
at 2:45 o'clock. Among those present
were VIM. c.. Lowering, who presided;
Gov. Wolcott, Mayor Quincy, Hon. G..
S. Hamlin, ex-assstant Treasurer of the
Treasury II. Jefferson Coleridge, ex-
United States Ambassador to France;
Hon. j. X. Leeson, VIM. b. Rice, Jr,
and many others. On being introduced,
Secretary Gage said in part:
I'VE have met here in a period fraught
with its own interests. Opposing forces
met in November last, and contended bit
terly over the most vital of economic
questions. While the issue was pending
the profitable arts of industry came TO
nearly a standstill Trade and CON-
No fbn
and in breathless suspense those who
could comprehend the deep import of the
issue waited for its determine tion. That
issue is now decided. The ballot, magic
exponent of the popular will, has record
ed its imperative voice fOr honest mon
ey and for liberty regulated by law. 1t
now remains to be seen whether from
that decision there is TO be any success
full appeal. We have passed through
wearsome storm. The loss and cost of
it has been enormous; but to-day the
skies are fair: the breeze of prosperity
bring comfort and restoration. The
final answer, however. must depend upon
the urgency or the Indifference of the
people
''The administrative branch of the gov
ernment will not sleep or rest inactive.
It's influence has been and will be for
prompt and judicious action. The eyi-
dence of this fact is fresh at hand in
the message just now submitted to Con-
gress by the President.
"But the administrati ton cannot make
laws. 1t can only execute them after
they are made. 1t is then to the legisla-
tive body that your thoughtful attention
is to be given if you desire financial re-
form. Your Senators and Representa-
tives will not consciously antagonize
your we'll considered desires, but
they must he informed and
constantly and reminded of what it is
you demand.
"And now what is it that ought to be
done to give security and protection to
the future? TO this there are many an
swers and to every answer many objec-
tions. We have indeed delicate and diff
ficult problem to solve, the difficulty be-
ing aggravated by the fact that ignor-
ance, prejudice and passion enter in to
complicate and veX the solution. This is
one of the penalties which popular gov
ernment must pay in return for its multi
farious and eminent benefits. With these
drawbacks we can nevertheless, with pa
tience, find our way.
The recommendation of the President
for a commission was admirable in this
that it suggested way by which a body
of well trained and thoughtful men could
.be provided to consider, at leisure, with
=ou destruction from other pressing
themes, the important subject of curren
cy and banking reform. What might
have been accomplished through a COM
mission may be achieved without one.
The two question before the country
in the last political campaign were the
tariff and the currency. One of them is
already settled. Whatever the merits or
demerits of the new measure in its par
ticuar items, it has become the law of the
land. :The revenues derived from it will,
after !: possible brief interrgnum, be am
pie fog proper government expenditures.
''We$have also reached the point where
with absolute data furnished commerce
and mGnufacture can make correct esti-
mates and go upon their respective mis-
sions of exchange and production with
new sense of security.
'The responsible party in power having |
successfully covered this one important
issue, it Enay be safely trusted to care
equally we'll for the other. On the finan-
cial side there is really no pressing need |
for haste. There is certainly no immediate |
occasion for: anxiety. With ample reserve |
in the public: treasury, with financial CEN
ters in full supply of leasable funds; |
with interest: invitingly low; with crop
prospects most promising and good
market favorably assured; with new min