New-York tribune., 1908-01-11
DINNER FOR Parker.
Er-Judge Tells of Cause of Credit
Panic.
rBy Telegraph to The Tribune. /


Kingston n. Y Jan. Ie-Democratic friends of
ex-Judge Alton B. Parker In this city and county
who willing 70 contribute 8 a plate gave a
dinner in his honor at the Eagle Hotel here to-
night More than eighty were in attendance. John
e. Kraft State Civil Service Commissioner. pre-
sided as toastmaster, and there were responses
from local Democrats. Among these were ex-
Senator Linson, ex-Judge John G. Van Etten'
Howard Chpp and Everett Fowler Ex-Judge
Parker said, in part:
Shall we not hesitate to exchange that which all
history has taught US is the backbone and the
sinew of freedom-local independence-for servile
ruled from central spot are best governed by the
whm. the pleasure. or. If you WILL the skill anu @
shall be Jealous OF tendencies which in our
WHICH We depends upon HoW much more So my friends
when mark open aggression. when unnTornso @
thusiasm exhibit the results of untutored guessing
in those realms of government in which the more
which are in but self-evoved from the vagarles
of their inexperieneed minds :, cs e,- .h,. s+..s
of New York: What is good for New York a- IS
edtff one Of another1united we stand divided fail
Oregon and Maine linked together. if only by
apple crops Florida would be stranger whether
she found herself seated under the sacred Goldfish
a California orange grove. Pttsburg and St Louis
bolic roosevelt currency emblems simultaneous
ly issued under the stress OF the great credit
thing thank our present Chief Executive. He has
opened our eyes. He has bound indssolubly
together. He has taught to rely in the last
analysis upon each other and upon ourselves
He has shown that peace plenty and prosperity
are no guarantees If we guard not our constitu-
tionaI rights by putting in office constitutional
rulers. At time. fortunately, when we could
endure il. he taught US in practice the bitter
lesson-that untutored idealism. that theory un-
tempered by experience. that callow youthfulness
of intellectual development, become dangerous when
let loose upon entire community
I have called II the great Credit Panic. and in
so doing i spoke advsedly. What is wrong with our
financial condition? Can any one say that we
on an unsound financial basis? What Is At fault
with general mercantile conditions. They ex-
cellent What visible danger threatens our pros
Whence, then. this abnormal situation which has
startled world and reacted upon every European
financial centre? To what cause We attribute
the profound uncertainty in the stability OF the
attending conditions of property which has re
suited In the throwing over of the evidences ~
abandonment of those forms of property which
being visible. be attacked and a grasplng IN
stead by the community-apparently only fof tne
purpose of useless retentiOn-of actual money; the
one form of wealth which becomes dead when re-
tanned. but possesses that one quality now TEN.
being concealed? The answer is 10 be found IN tI.e
simple fact that there has been a determined at
tack upon property such.
n Won ask how credit shall be restored. can
give YOU but this negative answer. Not by a con-
tinuance OF the possibility of the appIcatlon 10
nor by a continuance at the will Of our present
ruler or of any like him. of sporadic spectac!uiaI ma!
attacks one following another, upon the various
forms of invested savings