Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-01-28
A CALL FOR ACTION
President Mckinley Urges Settlement
Of the Currency Question.
ADDRESS IN new YORK LAST MIGHT
Speaks to the National Manufac-
tur re Association at Banquet.
HIS REMARKS APPLAUDED

President Mckinley was the guest of
honor last night at the third annual BAN
quet of the National Manufacturers As
sociation at the Waldorf-Astoria Hotel in
New York city. There were present nearly
1000 other guests. representing the employ
ment Of many thousand workmen and the
Investment of many millions of capital.
To this great audience of representative
American business men the President spoke
a. considerable length. devoting his re-
marks to the influence government exerts
to fostering production and facilitating
trade.
His most important utterances perhaps
were on the subject Of finance He spoke
out in unequivocal terms for the party now
in control to leave effort unmade to
honestly carry OUT the promises Of the St.
Louis platform on this subject. The Presi-
dents remarks were received with enthu-
siastic applause.
Following is his speech in full:
Mr.. Toastmaster. Members of the National
= Association of Manufacturers and Guests:
For the cordial character of this greeting
1 return my grateful thanks. The genu-
iEeness of your welcome is full compensa-
ton for having left Washington at an
unusually busy season in order to partici-
pate in this interesting meeting.
not meet as strangers. Neither your bust
ness organization nor your social reunions
are altogether unfamiliar to me. 1 have
been with yod before. not a guest, as now,
but rather in the capacity of host / re-
call that governor of the state of Ohio
1T was my pleasure TO welcome you to the
city of Cincinnati on January 22, 1895. at
the initial convention of the Manufac-
turers' Association. l well remember the
occasion. II was cold day. You had
lost everything but your pluck. or thought
you had. Courage was the only friend
your brief could call its own. / note with
satisfaction your improved appearance
now. You are more cheerful i'm counte-
nance, more buoyant in spirit, more hope
full in manner and more confident in pur-
pose. Then. too, there are more of you
here than there were at your first meet
ing Distances are, of course, the same,
but travelling has been resumed.
Wished to Stop Losses.
Your speeches ard resolutions at that
first convention were directed mainly to the
question of lew to regain what you had
lest in the previous years. or. If that was
found impossible, then how to stop further
loss. But your object now, as 1 gather it,
is to go ont and possess what you have
never had before. You want to extend, not
your notes, hut your business. 1 sympa-
thiZad with your purposes then. 1 am in
full accord with your intentions now.
L ventured to say at the gathering re-
ferred to. as reported in your published
proceedings. speaking both for your en-
enlargement and from Il profound convic-
ton:
This great country cannot be perrna-
nently kept in state of relapse. / believe
we Will reoccupy the field temporarily lost
to us and go out to the peaceful conquest
of new and greater fields of trade and
commerce. The recovery will come slowly,
perhaps. but it will come. and when it does
We will be steadier and will better know
how to avoid exposure hereafter"
j have a6ated none of the faith / then
expressed and yoa seem to have regained
yours.
National policies can encourage Industry
and commerce. but il remains for the peo-
pie to project and carry them on. If these
policies stimulate industrial DEVELOPMENT
and energy. the people can be safely trust
ed to do the rest. The government. how
ever, is restricted in Us power to promote
industry. 1t can aid commerce, but can
not create it. 1t can widen and deepen its
rivers. improve its harbors and develop its
great national water ways; but the ships to
sail and the traffic to carry the people must
supply. The government can raise revenues
by taxation in such a way will discrim-
mate in favor Of domestic enterprises. but
1t cannot establish them. 1t can make
commercial treaties, opening to our man.
ufacturerS and agriculturistS the ports OF
other nations. 1t can enter into reciprocal
arrangements 10 exchange our products
with those of other countries. 1t can aid
our merchant marine by encouraging our
people to build ships of commerce. 1t can
assist in every lawful manner private en-
terprise to unite the two oceans with
great canal. 1t can do all these things and
ought to do them; but with all this accom-
plished the result will still be inenectual
unless supplemented by the energy, enter
prise and industry of the people. 1t is they
who must build and operate the factories.
furnish the ships and cargoes for the canal
and the rivers and the seas. 1t Is they VINO
g. find
by going forth to win 1t.
How Trade L. Lost.
Much profitable trade is still unenjoyed
nv our people because of their present
insufficient facilities for reaching desirable
markets Much CT II is lost because of a
lack of information and ignorance of the
conditions and needs of other nations
We must know just what other people
want before we can supply their wants
We must understand exactly how to reach
them with least expense IL We would enter
into the most advantageous business rela-
lions with them. The ship requires the
shipper; but the shipper must have assured
promise that his goods will have sale
when they reach their destination. 1t is
good rule if buyers will not come to US,
for US to go to them. 1t IS our duty TO
make American enterprise and industrial
ambition, as well as achievement, terms of
respect and praise, not only at home, but
AMONG tut ldinhy VI hdt2OiS lhS Wi ~
over.
There is another duty resting upon the
national government-"To coin money and
regulate the value thereof" This duty
requires that our government shall regu-
late the value of its money by the highest
standards of commercial honesty and ma
tional honor. The money of the United
States is and must forever be unquestioned
and unassailable. II doubts remain. they
must be removed. If weak places are
discovered, they must be strengthened.
Nothing should ever tempt us-nothing
ever will tempt us-to scale down the
cred debt of the nation through a legal
technicality. Whatever may be the Ian
guage of the contract, the United States
will discharge all Of its obligations in the
currency recognized as the best throughout
the civilized world at the times OF pay
ment.
Nor will we ever consent that the wages
of labor or its frugal savings shall be seal
ed down, by permitting payment in dol
lars of less value than the dollars accept
ed as the best in every enlightened ma
ton OF tie earth.
Financial Legislation Needed.
Under existing conditions our citizens
cannot be excused IL they do not redouble
their efforts to secure such financial iesis-
lation as will place their honorable inten-
tons beyond dispute. All those who rep
resent. as you do, the great conservative
but progressive business interests of the