Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-10-11
SHAW SPEAKS FOR
MERCHANT MARINE
Secretary of the Treasury Ad-
dresses the American Bank
ers' Association Today
TALKS OF FOREIGN MARKETS

In American Ships-Precedents tor
SUBSIDIES sisnaIly Hon
ored by the Convention.
washington, Oct. 1.-The thirty
first annual convention Of the Alneri-
can Bankers Association opened in the
national theatre here today with more
than two thousand members present.
Standing during the invocation of Rev.
s DR.. McFsim, the bankers repeated the
4 words of the Lords prayer At its
conclusion, welcoming addresses were
made bv John Joy Edison president OF
the local bankers association and Com
y missioner Mcfarland OF the district
government. The bankers applauded
mention of President Roosevelt's name
as signifying civic honesty. Respond
ing to the welcome President 3, F,
swinne,, OF the association, declined
the Keys OF the city, on behalf of his
brother bankers, to keep their promise
tions inviolate should things be miss
ing after they had gone. Interest was
manifested in the annual report from
James r.. Branch, presented at the
conclusion Of Swinney's address. The
4 convention enthusiastically adopted
resolutions thanking President Roose-
welt for his action in bringing about
peace between Russia and Japan. The
resolutions were presented by Former
Representative Pugsley, Peakskill, n.
ID. who said In explanation that where
q man had wrought = great deed in
q great way he was deserving of great
credit.
The resolution was seconded by Mr..
J.nn.ngs, Of Fl rida. : relative O. Will
lam Jennings Bryan, whose words
evoked the hearty applause Of the con-
yention. 1--WE love peace" he said.
..and we love the president. would
not feel satisfied to remain silent and
hear the words Of patriotism that ami, ami
mate allsAmericans without rising here
to second this resolution and move for
Its unanimous adoption"
Leslie NJ. Shaw, secretary Of the
treasury was introduced for an adj
dress, Just as the convention regain
Cd Its composure from the peace"
incident He said:
Trade Expansion.
ssThe nations of the earth sell to each
other $1o.000.000,00o worth of mer-
chandise per annum, one-eighth OF
which originates In the United States,
and one ninth of this grand aggre-
gate finds our ports for ultimate con-
sumption Within the last half century
the United States has not only assumed
Importance among commercial coun-
tries, but In the last decade she has
become The greatest commercial nation
Of the world. Not only do her exports
exceed those Of any other country, but
her domestic commerce is two and one
half times as large as the aggregate In
sternatiollal commerce of the round
earth. while the eighty and more COM
mercial countries are selling, the one TO
the other, merchandise worth s10,0OO,-l
600 900, the American people sell to
each other merchandise worth practi-
cally $4,000, ,00O, 600: These stupend-
GUS and incomprehensive figures make
some Of US proud, some arrogant. They
should rnake us all thoughtful, and
prevent any Of us from becoming reck-
lessly critical.
"Over one hundred years ago con-
gress passed an act giving to the
American shipbuilder and the Ameri-
can shipowner monopoly of our
:coastwise trade. Since then political
parties have passed into forgetfulness
and others have come and gone. Ad-
ministrations have changed again and
again. bit that old law remains intact.
It has been often assailed, but no party
has dared to repeal 1t. 1t, therefore,
has the stamp of nonpartisan approval.
AS a result we have the largest and
cheapest coastwise trade In the world
The Detroit river floats more tons OF
American freight than all the foreign
commerce that enters London, Liver
pool, an6, New York City combined, and
under every ton is a ship built OF
american materials, by American
workmerl, owned by American capital,
operated by American enterprise, and
over every pound floats the stars and
stripes This country certainly pos
eessed s,me measure of craftsmanship
IN the days of James Madison, and wis
dom did not die with the fathers or the
law ere this would have been repealed.
practically a half century ago the
present minority party inaugurated and
the present majority party adopted,
policy of liberality to the promoter. It
gave subsidies OF money. or subsidies
OF land, ,,r both money and land, to en-
courage the construction Of translate
and transcontinental railways. The
Union Pacific, the Southern Pacific and
the Northern Pacific railroads each re-
ceived government aid. These roads
opened an empire Of matchless re-
sources, and here our ever-increasing
population found ample room and
abundant opportunity. They improved
farms. developed mines, and builded
states yielding commerce which has
made these roads in turn self support