The daily morning journal and courier., 1898-01-28
PRESIDENT M'KINLEY SPEAKS
ADDRESSES THE NATIONAL ASSOCI-
 ATION OF MANUFACTURERS.

His Faith in Recovery of Business Still Unabated-He Says "This Great Country Cannot Permanently be Kept in State of Relapse-National Policies Can En- courage Industry and Commerce but It Remains for the People to Project and Upon Government-to Coin Money and Regulate the Value Thereof-Republican
 New York, Jan. 27-The third annual banquet of the National Association of Manufacturers of the United States. which took place tonight at the Wal dorf-Astoria hotel, was one of the larg- kind ever given in this city. One thou sand guests were seated at the tables. The fact that President Mckinley woul be present caused a rush for tickets. The banquet hall was magni- ficently decorated, the tiers of boxes be- ing draped with silken banners. The presidents flag was suspended over the head of the table from the presidents box. There were seven long tables ex- tending the length of the room and six teen small tables on either side of the rows of long tables Tn the Astor gal lery annex were thirty-three other tables. The tables were elaborately dec- orated with flowers and potted plants. The dais where the president and other guests sat was also adorned with many flowers. From the reception room up the broad stairways to the banquet room were lines of palms and great ferns. Distinguished men from all parts of the country were present.
 The menu cards were elaborate They were volumes of velvet bound in un- dressed calf with monogram burned into the cover. There were etchings of "Liberty," the Brooklyn Bridge" 'In- dustry," scene in "Wall street." Commerce and Transportation and SOillC lOl Il4C ldl SC puIlQlllSo III 1SSW York. The presidents menu card was the same as that of the other guests, ex- cept that the edges were in gold and the words '"The President" were em- bossed in gold on the cover This menu card was presented to President Mo Kinley by R. A. c. Smith as soon as he was seated.
 The widest enthusiasm prevailed when President Mckinley was intro- duced. The men stood up in their seats the women in the boxes waved their handkerchiefs, the uproar drowned the speakers voice. The cheering and clap ping of hands were redoubled when a toast was drunk to the president President Mckinley spoke slowly and was plainly heard in every portion of the hall. His reference to the cold day in Cincinnati January P, 1895, was re- ceived with laughter which broadened into a perfect roar. The president spoke as follows:
 I have been with you before, not a guest, as now, but rather in the capacity of host. I recall as governor of the state of Ohio 1t was my pleasure to welcome you to the city of Cincinnati on January p, 1895, at the initial con- ventiop of the manufacturers associa- tion. I we'll remember the occasion. It was a cold day. You had lost every thing but your pluck, or thought you had. Courage was the only friend your grief could call its own, and note with satisfaction your improved appearance now. You are more cheerful in coun- tenance, more buoyant in spirit, more hopeful in manner and more confident in purpose. Then, too, there are more of you here than there were at your first meeting. Distances are of course the same, but travelling has been resum- ed. Your speeches and resolutions at that first convention were directed mainly to the question of how to re- gain what you had lost in the previous years, or, if that was found impossible, then how to stop further loss. But your object, as I gather it, is to go out and possess what you never had before. You want to extend, not your notes, but your business.
 I sympathized with your purposes then; am in full accord with your in- tentions now. I ventured to say at the gathering referred to, as reported in your published proceedings, speaking both for your encouragement and from profound conviction:
 This great country cannot be per manently kept in state of relapse I believe we will reoccupy the field, tenn porarily lost to us, and go out to the peaceful conquest of new and greater fields of trade and commerce The re- covery will come slowly, perhaps, but it will come, and when 1t does we will be steadier and will better know how to avoid exposure hereafter" I have abated none of the faith then express ed and you seem to have retained yours
 National policies can encourage in- dustry and commerce, but it remains for the people to project and carry them on. If these policies stimulate indus trial development and energy, the peo- pie can be safely trusted to do the rest The government, however is restricted in it's power to promote industry Ii can aid commerce, but not create it. Il can widen and deepen it's rivers, i'm prove its harbors and develop it's grea national waterways, but the ships tc sail and the traffic to carry, the people must supply. The government car raise revenues by taxation in such 8 way as will discriminate in favor ot