The daily morning journal and courier., 1907-03-30

another. Trade is the result of nature. Nature has declared that under the conditions in which the modern world lives every people must be interested in the fortunes of every other, and the trade of one country must neces- sarily affect the market and trade and the finance of others. ,
 When I think of that l might feel tempted to address to you entreaties similar to those which I have heard addressed in the high Alps to noun tain climber who is starting upon what he though, or at any rate what his female relatives thought, was a peril ous Alphine expedition l have been the recipient of these entreaties my self. How often 1t happens that 8 bold climber, equipped with his ice axe and rope, starting upon some perilous ascent, is surrounded by his wife, his sisters and his daughter and is begged to be careful. Do take care of your self. Do remember that there are others dependent upon you. DO avoiI all unnecessary risks in order that you may come home safe to us to-day or to-merrow." And, gentlemen, the timid European who does his business in a auieter fashion than it can be done here might be tempted to address such entreaties to you. Laughter).
 But although I have had no pract- ical experience in commerce myself I have observed enough and learned enough at the English board of trade goes on in such a country as this. Os- cillations in trade, oscillations in stock securities-they are as inevitable as 1 changes in the temperature and changes in the barometer in our att l mosphere. All that we can do is to meet them with serenity All that we can do is to know and happily you can know that-that they do not ne- cessarily represent any decline in the conditions which make for real pros perity. I venture to believe, although I speak 1t with great difidence to an audience who know far more about these things than I could possibly claim to know-I do believe that those oscillations which occasionally occur to know that these entreaties would be useless. (Laughter). Trade must, under modern conditions, go on as it here, and I might say the same in a less degree about the similar oscilla- tions which occur in England, do not affect the permanent prosperity and the stability of great undertakings or l of commerce at home. (Applause).
 They do not, I believe, reveal any thing tht Is unsound in the material | condition of the country. So far as I can venture to form an opinion the in- l dustries and the commerce of the whole continent, of the United States and of Canada also, which Is advanc- ing with rapid strides, are in state
 of stable and assured prosperity. No contingency can arise which your 1 trade in general is not fit to grapple with, and with your practically ineX- l haustible natural resources and with
 the energy and capacity of your peo- pie 1t could not be otherwise. This
 is ground for satisfaction, gentlemen, to all of us in England, as l think il
 will be to all of you here in America;
 and I rejoice, not less as an English I man than as a friend and lover o1
 America (applause)-a friend and
 lover of America, whose admiration
 for your country has been strengthen
 ed and deepened by every year since I first touched your shores l rejoice
 that I can look forward with con
 fidence to a long futuFe of prosperity
 for you, of constantly expanding com
 nerce, accompanied by the constantly
 increasing welfare and happiness oi
 the masses of your people. (Applause)
 Speech to N. Y. Chamber of Com
 merce.