The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-03-20
THE SAME OLD SPEECH
Secretary Gage Talks the Gold
Standard in Pittsburg.
He DENOUNCES AGITATION
The Greatest Danger Which Threatens
the Nation, He Says. Is The Threat
ened Change In the Money
Standard Platitudes.

Pittsburg, March ls.-The annual
banquet Of the chamber of commerce
Of Pittsburg. given at the Duquesne
club this evening, at which Lyman j.
Gage. secretary of the treasury OF the
United States, was the principal guest
Of n and speaker, proved the most
pretentious and important affair of The
Kind ever attempted by this ~organiza-
ton. Other banquets given by the
chamber of commerce have been of a
purely local character. That Of to-
night was of a national character and
Importance. The decorations were the
finest and most artistic eve seen in
the Duquesne club. and the menu was
elaborate and unique.
The banquet began promptly at Z
O'Clock with 225 guests seated at three
long tables extending the entire length
OF the banqueting hall. The speakers
were seated at the center OF the first
table. facing the entrance. Banker
william r. Thompson was the toast
master. President John Bindley OF the
chamber Of delivered the add
dress Of welcome. responding to the
toast. The Chamber of Commerce; Its
Duties and Responsibilities"
Secretary Gage spoke on american
Enterprise: Some of It's Trials and
Achievements" Mr.. Gage said in part:
If We would promote productivity.
and trade. we should try to
encourage and maintain those condi-
lions favorable to the just confidence OF
man In man, and the confidence of man
IN the future. The producer of raw
material parts with his product on
faith that the manufacturer to whom
he transfers IL will. I'm due course. be
not only willing, but viii possess the
ability to pay for II. Likewise. the
naAau0f,rn afaRAaA- - hi. 49, =. -
the wholesale merchant. moved by
similar faith. The wholesale merchant.
in turn. sells to the retailer on credit
terms. In h belief that this man, the
last In the order of distribution, will
And his credits extended in small sums
to the mechanic and laborer, safe and
secure
whatever disturbs these general
faiths and condolences. unsettles COM
merce and disturbs industry. Unhap-
PLY. the disturbing influences are nu-
merous and by their interposition from
time to time. suffering and ruin result.
Wars, the fears of war. failures. wide
spread Industrial revolts. shocks aris-
ing from the betrayal Of great iduciary
duties. these are some of the adverse
influences. But none Of these nor sew
eral of them are as harmful as the
doubts and fears which arise from the
apprehension of a radical change In
the money standard. to which all COM
modities Inc all credits stand finally
related.
And yet. we find a great party. i'm
blind disregard of this fact. placing
a foundation ton to their political
doctrine, a proposition charged with
the most destructive consequences to
our commercial and Industrial life.
This proposition is urged upon the peo-
pie with a fanatic zeal which would
inspire admiration IL enlisted i'm n use
full and noble cause. But IL In a zeal
born out of non-reason, stimulated by
prejudice and fed by passion. Nc Won
der that conservative interests unite to
ppo IL.
In spite OF the unsettling influence
of their doctrines. which have again
and again alarmed the forces that
make progress. which have more than
ono sent capital into hiding. crippled
industry and sent labor into idleness,
the evidences are everywhere that We
are in a state of progress. not decad-
ence. Do not the most prudential con-
siderations dictate adhesion TO a money
standard which has been contempo-
raneous with this great progress. IL not
an efficient factor therein?
Second only in Importance to a
sound currency Is a banking system
adequate or capable of self-adjustment
to the public needs. Yet this PROPOSE
ton In not less offensive to the three
leaders Of the opposition. who lately
coalesced in a joint effort to unite all
forces hostile TO the present order. Can
we not learn useful lessons from 9TH
ers? Is the experience OF the world to
be despised? FAR the stern DEGREES,
carried by the law of N economic life,
be successfully challenged? Can they
be rescinded or repealed by the wild
impulses of the inconsiderate?
In a free social state that man is
clothed with the power and response
bility of self-direction. His well-being
depends upon his ability to compre-
bend physical and moral laws with
which nature environed him. In a gov
eminent like our own similar power OF
eli -direction exists. IL il a high privi-
lege and carries with IL great RESPONSE
bIIity. Like the individual man. the