New-York tribune., 1901-05-01

beauty show. About thirty charming oouIhei !"
women held court in a bower of roses, ranged
| around gilded armchair which was oesisheu
| to hold the President Mr Mckinley. however
| was too wary to be caught in the ret ne ola
| not take the chair but he braved the battery OF
| eyes and after greeting each of the young
| women personally in turn. he was lhtrouuceu ps
| w J. Crawford of "T1e Commercial Appeal
and made a speech. After TINS luh''ioH' 'iie
women of the party were taken IN manu- pN 'he
women of Memphis reception was heid In
, their honor and later a banquet was given to
| them at the Peabody Hotel At the same time
| on the floor above the President and the men OF
his party. with about two hundred business men
Of the city sat down elaborate dinner.
EXPANSION OF FOREIGN COMMERCE.
1t is understood that the President had not
| intended to make an important speech at this
dinner, but the enthusiastic reception given to
him inspired to a somewhat long and exceed
ingly memorable utterance as to the future
policy of the United States regarding the
pansion of foreign commerce. He spoke fol-
lows:
Mr. Toastmaster Ladies and Gentlemen:
wish L might be able to frame in words a fitting
response to the gracious speech of your toast
master in Voicing Memphiss greeting and well
come to the President of the United States
Applause) / am glad to be in this commercial
city. to be the guest of its business and repre-
sentative men III a city whose commercial IN
tegrity has never been questioned whose bust
ness prudence and sagacity guided it through
the storm of panic in 1898 and the years fol-
! lowing without business collapse or the taii-
Ure OF bank. Great applauseD
l am glad to live in country that produces
! three fourths of all the cotton that is produced
/ in the world (Applause). and to he the guest
! of the city that has the greatest inland cotton
market anywhere under the sun. (Great ap-
! plause) | congratulate this city upon its mar
/ veous progress and development in the last
No CITY n he a
made greater advance. (ApplauseD From 10000
! in 1890 you have leaped more than 1oooN
! in 1900. But l will call attention TO the
| TACT that some of that addition may be ac-
counted for by extension of your limits (Ap-
plause) by an act Of the legislature and with
! out the consent of the governed. daughter and
applause) This city. with its magnificent river
| with its early history and environments. could
| not fail to have the true instinct of commerce
1ou were born to commerce here in Memphis
| tApplause.) 1t was your early training. You
the ships go with your products and the
! ships return with the products Of other coun-
! tries for your and comfort. You early dis
cerned the possibility of this great republic, and
! YOU have been in the vanguard of advancement
| and progress and expansion from the earliest
years of your history. (Applause.) You early
/ learned that maxims were not as profitable as
markets daughter and appause). and the only
4 way to get markets TO encourage commerce
/ and transportation by and land.
| The State Of Tennessee shares in the senti-
ment and spirit Of the people of Memphis, and
| on December l. 1S41. the legislature of this
State by joint resolution instructed its Senators
| and members in the Congress of the United
| States vote for a great transcontinental line
| to the Pacific Coast. to be aided by the govern
ment of the United States. ApplauseD In the
! preamble of that resolution is the spirit and
| the purpose of the American people to-day. II
has nowhere been better expressed, and let me
| read il to YOU
{ Whereas. The construction of railroad across
United states the great highway between Europe
and the populous and wealthy empires Of Asia;
would greatly facilitate our Intercourse with those
regions would tend to consolidate our union: would
us, and would give a fresh impulse TO our great
| agricultural. manufacturing and commercial in
! Whereas. This stupendous work be accom-
| plshed, and the PUBLIC lands constitute fund
an undertaking. as small part OF them would
d1s be ee gpea ad e dafs tSeeb m
! Whereas. The plan OF Mr. Asa Whitney. of New
| York, in its great outlines IS in opinion the
| only practicable scheme for the accomplishment
| Of this great undertaking. which should be COM
menced as soon as practicable; therefore.
see That they @ approve app of M WRseSs pian
explained by himself to them of constructing
railroad from Michigan to the Pacific Coast.
That was on December l. 1917 ffty-four years
| ago. Three years afterwad. the legislature then
assembled, not approving of this particular route
1 10 the Pacific Coast, suggested that ali Of the
plans should first he laid before Congress before
! any action taken. and that the route that
| would do the most good for all the interests Of
! the people should be the one that ought to be
adopted. (Applause) Let read you the pre-
| ambe Of the second resolution:
We1fas As As the t aesGn Of + the @ Tgb and
to the importance and practicablty Of
| a railroad across the continent OF North America
| highway between Europe and the popuious and
| wealthy empires Of Asia of facilitating our own
binding California and the Pacific Coast our
manufactnring and connercia' Interests: and
| Whereas. This stupendous work. if accomplished
by the aid of the general government. ought TO be
50 constructed as 70 confer its inestimabe benefits
States and consolidate the Union OF those States
means Of more intimate and lasting connection
each dependent upon and tributary to this magnif-
cent thoroaghfare of the commerce Of the world
| (ApplauseD
= FOR THE EQUAL BENEFIT OF ALL.
That the thought that was the purpose
that was the spirit of the people of Tennessee
! fifty years ago. tApplause.) No question as to
whether il was to be the central line or the
southern line the northern line: the real oues-
| tion was the connection of this great North and
South of ours with the Pacific Ocean, thus lead
! ing us out to the great markets in the Orient
tApplause.) What your legislature half CEN
/ tury ago resolved should be done has already
| been accomplished We not only have one bllt
/ we have five lines connecting the Atlantic with
! the Pacifc-(appause)-th Union Pacific the
| Southern Pacific the Atchison, the Great North
, ern and the Northern Pacific making five great
transcontnental lines connecting the two
oceans. Applause)
The government of the United States assisted
/ in tire building of these roads 1t guaranteed
back IN the sixties S64 100000 of the Pacific
Railroad bonds and became responsible for their
payment. and took second mortgage upon the
property as security to the government (Ap-
/ plause) II is interesting TO note in this pres
ence that within the last four years of that
! debt reaching $4,000 900 principaI and in
United States. S124.o00.0e0 has been paid into
the public treasury, and the balance secured
| great applause). thus giving only the
/ principal of the aid we gave these roads hut
interest at more than 3 per cent. (Appause)