New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-27
TAFT FOR WORLD TRADE.
Its Promotion, He Declares,
Means Keeping Off War.
SPEAKS TO BUSINESS MEN
Cheered by Throng at Banquet
of international Congress of
Chambers of Commerce.

Boston, Sept 25.-Addressing the dele
gates TO the international congress of
chambers OF commerce at the banquet in
his honor tonight AT the Copley-Plaza
Hotel. President Taft touched on the
benefits which would accrue TO nations OF
the world from associations seeking to
promote the commerce Of the world. and
thereby to make away with war. Among
other things he said
You came here for trade and 10 pro-
mote trade. Trade Is peace. II trade
had no other good thing coming with II
than 10 keep of war. that is SUFFICIENT
thing.
| believe that We must have some solu
ton OF the problem that arises, and some
escape in the future from the burden that
IS carried. by the increasing armaments
Of nations: and | believe that we VIII
never have solution until We have lur-
nished court for the settlement of dis
putes upon which ell nations may rely.
believe that meetings like this stimulate
a desire 10 reach some suclf~rcsult, and
| hope that these meetings may continue
year after year
The President declared that the United
States was behind other nations OF the
world in its method OF bookkeeping. He
came out strongly for budget system.
and made 1t plain that the nations bank
ing and currency methods do not meet his
approval He said:
We have a system of banking and cur
renCy that no man can defend, but II
seems TO be the last subject that Con-
gress is willing 10 take up IL Is SUB
ject affecting every one. the humblest
ana the poorest, but II ought TO be dis
posed Of In a scientific way.
President Taft spoke 10 a crowd that
filled the banquet room OF the hotel and
overfiowed into the corridors When he
began his address he was greeted with
cheers that lasted nearly minute, while
most OF his audience stood. waved hand
kerchiefs and otherwise expressed their
enthusiasm.
Arbitration Of all international disputes
was urged by the fifth International Con
gress OF Chambers OF Commerce which
closed its sessions here to-day. president
Louis Canon-Legrand brought the subject
Up and resolution submitted by him was
adopted unanimously.
Arbitration OF disputes between individ-
ua!s and foreign countries was discussed
and approved at an early session OF tho
congress. but some misunderstanding
arose when the chair ruled that an amend
ment 20 include disputes between ind!yid-
nails or between nations was not In order.
President Canon-Leerand presented his
resolution to-day. lac explained. so that
Z, might be understood that In making
his ruling the only question involved was
one Of parliamentary procedure.
Expects Continued High Prices.
An international conference to consider
the high cost Of hying and to suggest
nosslble remedies met with unanimous
approval. ProfessoN living FISHER, OF
Yale. OPENED the discussion with report
in which he declared nc looked for con-
tlnued Increase IN the cost Of food ana
clothing for several years TO come. uo
did not believe any ono nation WoD'u
-. hc able To cone with ~" situation.
he said
Professor Fishers report presented
plan To stabilize the purchasing power OF
money ar remedy for the Increasing
cost ~ living. Concerning this plan the
report said:
NV proposal IS virtually to increase the
,y.I,hi az the gold dollar. But TINS IN
creaslug weight would not De- hdueu "
Inc coins themselves, but only 10 me
bullion out OF which they are inade. ~
,,trTr words the proposal T. 10 restore
,tn ancient custom OF ''seigniorage on
ynld coiuaKe. At present there ~ no
scignioIuge. Coinage Is free ana vac
weight OF gold dollar ~ as Breht ~
H. oUeiant OF the bullion which the miner
taxes to the mint and for which he re-
ceiyes tack a dollar. lie now taxes .o.e
grains Of gold bullion TO the mint to sc,
cure a 25.S-grain gold dollar. The coiheI
dollar Weighs the same az the uncolheu
az 'shulllon dollar" II | may use such
term. My proposal is TO increase the
SeigLt of tho bullion dOllar-that rs, 10
require % or q or Is grains OF gold buiiloh
IN ba taken to the mint 10 secure l2.o-
araIn gold dollar. The coined dollar
would Temaln unchanged In weight Cos
QrainsJ. but the bullion required 70 &c
cure the coined doTlar-the bullion dollar
,r,.flI ha Ina yicr