The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-01-28
M'KINLEY ON FINANCE,
Presidents Address to the National
Association Of Manufacturers,
NO REFERENCE TO THE GAGE BILL

The Chief Magistrate Recalls tho Dec
larations of'the st. Louis Convention
and Declares That the Stability of thu
National Currency Must 30 Upheld
New York, Jan. 2S.--The third ann1a
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
heid levee for more than an hour.
At 1890 o'clock Warner Miller raped
For order. Ee referred to the youth
Oh 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
Eanization. The chief end of the or
Eanization, 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
Rerce.
Mr.. Miller then introduced Theodore
{. Search, the president Of the organi-
Eation. 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,
ypeakers voice. The cheering and
Mapping Of hands were redoubled when
toast was drunk to the president.
The president. after thanking his
hearers for their cordial greeting, re-
terred to their first convention, held in
Cincinnati in 1896, when, as governor of
the state, he welcomed them. He pro-
seeded:
Il have abated none Of the faith 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
4 Barry them on. If these policies stimu-
ate industrial development and energy,
the people can be safely trusted to do
the rest The government, however, is
restricted in its power to promote in
austry. 1t can aid commerce, but not
sreate it. 1t can make commercial trca-
lies. opening to our manufacturers and
agriculturists the portsof other nations.
Il can not enter into reciprocal arrange
nents to exchange our products with
-thsss g + other countries. 1t can aid our
merchant riun hv opj,,
people to build ships of commerce. 1t
Fan assist in every lawful manner pri-
sate enterprise to unite the two oceans
Eth great canal. 1t can do all these
things, and ought to do them; but with
h this accomplished the result will still
be Intellectual unless supplemented by
tha energy, enterprise and industry of
the people.
Much profitable trade is still unenO
Ioyed 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-
nDrance of the conditions and needs of
s!hers. 1t Is our duty to make American
enterprise and industrial ambition, as
well ns achievement. terms of respect
Ind praise. not onlyat home, but among
he family of nations the world over.
"There is another duty resting upon
TIE national government-'to coin money
and regulate the value thereof This
lHty requires that our gov ernment shall
regulate the value of its money by the
highest standards of commercial hon.
bsty and honor. The money of the United |
Bates Is and must forever be unoucs- |
Toned and unassailable. If doubts re-
main, they must be removed If weak |
Places are discovered they must be |
Grengthened. Nothing should ever |
hpt us--nothing vii ever tempt us
70 scale down the sacred debt of the ma
pon througha legal technicality. What
syer may be the language of the con-
tract the United States will discharge
III obligations in the currency recoc-
pized as the best throughout the civil
lzed world at the times of payment, Nor
Es'l we ever consent that the wages of
Rhor orits frugal savings shall be scaled
so"h ny permitting payment in dollars
f less value than the dollars accepted
Is the best in every enlightened nation
N The earth.
uuder existing conditions our citizen: !
fan not be excused II they do not redou-
Ne their efforts to secure such financial
legislation as will place their honorable
Intentions beyond dispute. All those
Who represent, as you do. the great con-
scrVatlVe but progressive business in
terests Of the country owe it not only
TO themselves, but to the people to in
sist upon the settlement of this great I
question now, or else to face the al
tentative that 1t must be again sub
hlttcd for arbitration at the polls. This
rs our plain duty to more than seven
nitllun voters who IS months ago won
, great political battle on the issue
lmong others, that the United States
government would not permit q doubt
70 exist anywhere concerning the sta
biity and integrity Of its currency or
The inViolability Of It's obligations of
very kind.
1T Will not suffice for citizens now
adays to say simply that they are in
[avor of sound money That is not
'Eough. The peoples purpose must be
slvch the vitality of public law. Bet
er an honest effort, with failure, than
ne avoiding Of SO plain and command.
ns Il duty. Discussion cannot hurt
VIII only help the cause. Let U.s., .,
lave full and free discussion. IntoTlf-1
.ent discussion will strengthen the in
iTerent and encourage the friend of a
table system of finance. For us to at
empt nothing in the face of the prev
lent fallacies and the constant effort 1
o spread them is to lose valuable ,
round already won and practically to j
weaken the forces of sound money {
Dr. their battles of the future. I
'The financial Dlank Of tha Ct T ou;u
latform is still as commanding upon
republicans and those who served with
hem In the last campaign as on the a
ay 1t was adopted and promulgated.
Happily the tariff part Of the platform c
as already been engrafted into public Y
fatute. But that other plank, not al Ii