The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1898-01-28
MEINLEY ON FINANCE.
Presidents Address to the National
Association of Manufacturers.
NO REFERENCE TO THE GAGE BILL

]
and Declares That the stability of the
National Currency Must BE Upheld.
New York, Jan. 2S.-The third annual
banquet of the National Association of
Manufacturers of the United States
which took place last night at the Wal
dorf-Astoria hotel, was one of the larg-
est and most elaborate affairs of the
kind ever given in this city. President
Mckinley was escorted from the Wind
sor hotel by the committee of mer-
chants and at once taken to the royal
chambers. Half an hour later he ap-
peared in the reception room, where he
held a levee for more than an hour.
At 10:3O o'clock Warner Miller raped
for order. He referred to the youth
of the association, and said that the
meeting would be productive of more
good than anything that has been held
in this country for some time. He said
there was nothing political in the or
ganization. The chief end of the Or
ganization, he declared, was to extend
the commerce of the United States
abroad. The association, he said, would
advocate another department in the
cabinet, namely, a secretary Of COM
merce.
Mr.. Miller then introduced Theodore
c. Search, the president of the organi-
| cation. The widest excitement pre-
vailed when President Mckinley was
introduced. Men stood in their seats,
women in boxes waived their handker-
chiefs, and the uproar drowned the
speakers voice. The cheering and
clapplng of hands were redoubled when
a toast was drunk to the president.
The president, after thanking his
hearers for their cordial greeting, re-
ferred to their first convention, held in
Cincinnati in 1895, when, as governor of
the state, he welcomed them. He pro-
ceeded:
81 have abated none of the faith l then
expressed, and you seem to have re-
gained yours. National policies can en-
courage industry and commerce, but it
remains for the people to project and
carry them on. If these policies stimu-
late industrial development and energy,
the people can be safely trusted to do
the rest. The government, however, is
restricted in it's power to promote in
dustry. 1t can aid commerce, but not
create it. 1t can make commercial trea-
ties, opening to our manufacturers and
agriculturists the ports of other nations.
1t can not enter into reciprocal arrange
ments to 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 pri-
vate enterprise to unite the two oceans
with a great canal. 1t can do all these
things, and ought to do them; but with
| oil a will OF
be Intellectual unless supplemented by
the energy, enterprise and industry OF
the people.
Much profitable trade is still uuen-
Joyed by our people because of their
present insufficient facilities for reach
ing desirable markets Much of it is lost
because of lack of information and ig-
norance Of the conditions and needs OF
others. 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
the family of nations the world over.
"There is another duty resting upon
the national government-'to coin money
and regulate the value thereof This
duty requires that our government sbal
regulate the value of its money by the
highest standards of commercial hon.
esty and honor. The money of the United
States is and must forever be unques'
toned and unassailable. If doubts re.
main, they must be removed. If weal
places are discovered, they must bt
strengthened. Nothing should evei
tempt us-nothing viii ever tempt US
to scale down the sacred debt of the ma
tion througha legal technicality. What
ever may be the language Of the con
tract, the United States will discharge
all obligations in the currency recog
niZed as the best throughout the civil
lied world at the times of payment. No
will we ever consent that the wages o
labor orits frugal savings shall be scalet
down by permitting payment in dollar
of less value than the dollars accepted
as the best in every enlightened natioi
of the earth.
, "Uuder existing conditions our citizen
can not be excused if they do not redou
BILE their efforts to secure such financia
legislation as will place their honorabl
intentions beyond dispute. All thos
who represent, as you do, the great con
servative but progressive business in
terests of the country owe it not onl
to themselves, but to the people to in
sist upon the settlement of this grea
tentative that it must be again sub
mitted for arbitration at the polls. Thi
Is our plain duty to more than seve
million voters who Is months ago wo
a great political battle on the ISSUE
among others, that the United State
government would not permit a dout
TO exist anywhere concerning the sta
bility and integrity of its currency G
the inviolability Of its obligations c
every kind.
1T will not suffice for citizens now
adays to say simply that they are i
favor of sound money. That Is nc
enough. The peoples purpose must b
given the vitality of public law. Bet
ter an honest effort, with failure, tina
the avoiding of so plain and command
ing a duty. Discussion cannot hurt
II will only help the cause. Let U
have full and free discussion. INTEL
gent discussion will strengthen the il
different and encourage the friend of
stable system of finance. For us to
tempt nothing in the face of the prey
alent fallacies and the constant effoi
to spread them is to lose valuab
ground already won and practically
weaken the forces of sound none
for their battles of the future.
1.-THE financial plank of the st. Lou
platform is still as commanding upC
- Republicans and those who served wit
them in the last campaign as on Il
day 1t was adopted and promulgate