Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-11-14
Secretary of Treasury Makes
Notable Address at Wash
ingt0n
POSSIBILITIES OF COMMERCE
Uniform Weights, Measures, Monetary
Units, ETC., Advocated by the Score
tary-Many Distinguished Guests at
the Banquet to Representatives OF
Foreign Commercial Associations.

washington. Nov. IA banquet
was given at the Arlington Hotel last
night in honor of the representatives OF
foreign commercial bodies who came 10
America to attend the dedication of the
New York chamber of commerce ana
who arrived In Washington from the
metropolis for a short visit yesterday.
In addition to the foreigners there We're
present Secretary Shaw and Postmas-
ter General Payne, OF President Roose-
velt's cabinet: Admiral Dewey, Cen
erals Corbin, Young and Wood, mem
bers of the diplomatic corps and local
business men.
Mr.. A. Barton Hepburn, the chairman
OF the committee on reception OF the
New York chamber of commerce, sat
at the head of. the table with
Ambassador Cambon, of France
on his right and Ambassador
Herbert, of Great Britain, on the
left while to the right and left of the
ambassadors were seated, respective
ly, Prince Pleiss and Count Quadt, or
the German embassy. Mr.. Hepburn
introduced the speakers. among whom
were Secretary Shaw and Major Gem
eral Young.
Mr.. Shaw said in part:
Speaking for that department which
is supposed more than any other TO
represent the business interests of the
ration, take great and peculiar pleas
ure in bidding welcome to the greatest
American republic, to representatives
of so many of the leading commercial
nations of the world. Such gathering
as this would have been impossible a
century ago. In the creation of senti-
ment rendering this event both natural
and agreeable. and in the evolution of
conditions making international ban
quets possible, commerce has played
most important part. The spread of
intelligence and the prudence of COM
merce are making for international
peace.
1.-THE consent of rulers to engage in
wars involving the expenditure of we'll
nigh limitless blood and treasure has
not always been difficult to obtain.
Statesmen have not always trembled
as they have declared war and made
appropriations for it's maintenance. But
commerce trembles. 1t counts the cost.
Commerce is not wanting in ambition,
but it is never ambitious to squander
the accommodations of centuries in re-
buking the injury of a day. And so.
gentlemen of the chamber of commerce
of the Empire state, our hosts and dis
tinguished guests from foreign cham
bers, felicitate you all and thank my
God that the day has come when ma
lions shall no longer war without
cause, when great navies are no longer
looked upon as threatening the peace of
the world and when ornaments and
Notifications have lost much of their
terrors. The people represented by our
hosts this evening were admittedly
never as prosperous as now. And
naturally their consumptive capacity
has increased with their ability to sup
ply not only their needs, but also their
desires. And SO it is that the United
States was a larger consumer of for
eign products during the last fiscal
year than ever in its history.
1.-THE universal recognition of the
great truth that the good fortune of
any one class of individuals ever re-
bounds to the advantage of all, and the
prosperity of the people of any one
country ever benefits all nations would
be of inestimable advantage to the
world. But il this principle shall ever
be universally recognized commerce
must be the schoolmaster and cham
bers of commerce kindergartens of in
struction. l have met within the last
few days distinguished representatives
of foreign chambers and listened to elo-
quent speeches from their lips in the
current language of this country IT,
some instances this was not their
mother tongue, but they found it to
their commercial advantage to educate
themselves therein. do not know that
the miracle of Babel will ever be re-
versed, but if it shall be, the convent
ence of commerce and not the fear of
floods will be the occasion.
Il do not know that the world will
ever adopt uniform standards of
weights and measures, but I am con-
WINGED that such a course would be to
the advantage of commerce: and If
this ever shall be accomplished, the
metric SYSTEM for which we acknowl-
edge indebtedness to nations repre-
scented here tonight, will of necessity
afford the solution. 1t is evident that
all values will soon be measured in
gold. In fact, this is already done in
ternauonally, and governments that
provide anything else than the gold
standard for local use impose a tax
upon every international transaction
sufficient to bar their people from COM
petition in the worlds commerce. l do
not know that the world will ever adopt
universal denominations of money, but
II 1t shall, | am satisfied that the unit
of value Will be divided into tenths and
hundredths, for this would be for the
when ! suggest that some
time, perhaps far off. and possibly near
err than we think, the prices current
VIII be written in a common language
and In uniform measures of quantity
and denominations of money, but if so,
my excuse then for We vision shall be
that more than one dream of yesterday
is paying dividends today.
The commercial struggle in the
years that shall follow must not be for
commercial supremacy. Supremacy
must not be sought for SUPREMACY
sake. A sentiment more worthy of
world peoples q prefer this term to
world powers) would be the recogni-
ton of debtorship to the world Paul
said l am debtor 9Th to the Greek