The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-11-19
THE GOTHAM CHAMBER OF COMMERCE
a Dinner at Delmonico's and an Argument
OF Ship Subsidies.
(By the Associated Press.D

New York, Nov. 1.-THE 135th annual
dinner of the Chamber of Commerce was
held tonight at Delmonico's. Morris X.
Jesup, president OF the chamber, presid
ing with Secretary of the Treasury Shaw
OH his right and Governor Odell on the
left
The list of toasts was as follows:
''The President - His Majesty, Edward
VII" Our Merchant Marine" response
by Hon. Leslie NJ. Shaw. Secretary of the
Treasury; 1.-THE Senate of the United
States" response by Hon. William b.
Allison; THE Army response by Lieu
tenant General S. NJ. B. Young, u. S. A.;
THE Navy" response by Rear Admiral
Frederick Rodgers, U. s. NJ. Capital and
Labor" response. by Right Rev. William
C. Doane, d. d., Bishop of Albany; THE
Commercial Imagination, response by
Rev. Donald Sage MacKay. ID. D.; ar
bitration as d Means for the Settlement of
international Disputes response by
Thomas Barclay, ex-Presdent of the
British Chamber of Commerce in Paris.
a letter from President Roosevelt was
read, in which he said:
NO body Of men can render a greater
service, not only to the American busi-
ness world. but 10 the American body
polite, than has been rendered by the
Chamber of Commerce. The true ideal
of this country is that hand in hand with
it's material development there shall go a
high and fine sense of responsibility to
the public on the part OF those whose
power and ability enable them to Ike the
lead in this material development. 1t Is
the good fortune, not only of the State
of New York, but OF all our people. that
We can conscientiously say of the Cham
Der of Commerce that among its members
we have found to an unusually high de-
gree this combination of great business
ability with the spirit which practices
and demands integrity in public and
private affairs alike
Secretary Shaw was introduced.
The only unprotected American indus
try he said in opening, SIS its
merchant marine. An act of Congress,
approved by George Washington, and
never repealed, though frequently assai!ed,
gives the American shipbuilder, the
American shipwright, the American ship
owner and the American flag monopoly
in our coastwise trade. and we have not
only the most efficient service. but the
cheapest coastwise rates in the world.
81 am not ignorant OF the argument
that II foreign countries are Wiling TO
subsidize ships to carry our freight, 1t
inures to our advantage. Tins might be
a sufficient excuse for our scpine indiffer-
ence, If there were no other consideration
involced than merely earring our freight
across the Atlantic ocean in times OF
peace Unfortunately, however, there are
many other and weightier considerations.
IF war were to be declared between
any two of the great powers of Europe,
our foreign commerce would be not only
helpless, but hopeless. l forbear refer
ence to our military and naval condition
in the absence of available GOLFERS and
were the United States to be
involved in such a conflict. The proudest
navy in the world is utterly worthless
wi, hout coal.
II am not contendng for ship subsidies,
if any more feasible course can be de-
vised But if ship subsidies will insure a
merchant marine. then l am for ship
subsidies If some other measure will in
sure a merchant marine, then / am for
some other measure. If several measures
combined will insure a merchant marine
then | am for all such measures"