The New York herald., 1921-05-24

in this magic century OF an Aladdin's $
world"
And we would reply TO them to-
night: Yes, one thing remains un-
changed. The generations do not out
grow Il. Invention does not supersede
j.. Mankind can no more prosper
without it than 1t could i'm the earlier
day of simple manners and methods.
That one continuing, unchanging and
unchangeable thing is character. Here
you may view one of it's monuments.
Here you will see how through all mu-
tations the structure built with con-
science as its architect and character
as its corner stone is destined to stand,
four square and firm. Here you see
the business growth from those seeds
of character and integrity which you
planted. 1t has lived and grown i-l
three centuries, but 1t has the same
s5ul that you implanted in the days of
humble beginnings
"On an occasion such as this and
in the presence of such an inspiration
il viii not be Inappropriate to consider
for a moment the position, duties and
responsibilities of men who are leaders
OF business.
THE New York Commercial was
founded in the time when the young
Republic was distracted by a division
of opinion concerning our relations
with Europe. The noble Washington
was being lampooned and traduced
because his administration was COM
mittcd to the Jay treaty with Great
Britain-first OF the nations CONNER
cial covenants. 1t represented an eff
fort to escape embodiment with the
old World system, and in the period
when we were too weak TO sustain a
foreign conflict 1t served to postpone
that disaster. But only TO postpone
it: for, with every wish to preserve the
peace, it was impossible. We fought
wars with France and England as in
cidents to the French revolutionary
and Napoleonic upheaval.
1T has been too often assumed that
our recent involvement in the troubles
Of Europe marked new development
in our affairs. In fact. It was an old
story. We never were and never will
be able to maintain isolation. But our
part and our place in international
affairs are strilkingly changed. 1t is
a FAR call from those days to these;
from weakness to power, from pow
erty to affluence, from the minor to
the major participation. For the
strides we have taken in every phase
Of national Importance we are indebt-
ed in great part to the vision. the
energy. the unbounded confidence and
unfailing optimism OF the American
business connected with the great
commercial newspaper whose guests
we are tonight.
Every generation has its problems.
"Those who for more than a dozen
decades have determined the course
of this pioneer of the business press
have given us lesson well worth at
tention. They have seen the country
90 through many times OF stress and
crisis. and their Institution has gone
through with it, wiser for the expert
ence. stronger for the tests They
have seen the time when our weakness
as a nation made it impossible for US
to avoid involvement in the troubles
OF the Old World. and again they have
seen how our strength imposed an OBJ
LEGATION that made such avoidance
equally impossible.
To-day, in the particular realm OF
this newspaper, we face a like condi-
ton. Our strength in The industrial,
financial and commercial world, our
capacity 10 produce, our ability to ex-
tend credits which others cannot give
and which brave, but unfortunate,
geoples sore1y reed---eIl these make ii
necessary that we shall adopt new
commercial methods whereby to in
sure the fullest possible service to CIV
il;zation. I bcspeak the help of every
organ OF intelligent. understanding
business. to enable the nation to meet
these demands.
''It has been said many times, but IL
cannot be too often repeated and en-
phasized, that in doing this we will
bc alike discharging q duty to others
and seizing an opportunity for our
own dvancement. There have seldom
been more convincing proofs than we
see all around us now Of the essential
interdcpcndence OF all parts of the
world. No people. no race, no conti-
nent can live within itself alone. He
who displays the broadest spirit Of
brotherhood, helpfulness and true
charity will most surely he casting
his bread upon the waters. The in
struments OF sound. scfe business
must be adapted, It is true. 10 the con-
ditions which face us--condltions un-
ike any that our times have known,
though not greatly different in their
economic fundamentals from those OF
some other epochs. But changing
epochs do not alter everlasting prin-
ciples
Courage, confidence and wisdom.
along with fitting measure Of enter.
prise and even adventure. are needed.
After the Napoleonic era there were
rclne who viewed the future Gloomily.
but those who looked to IL with hope
iul vision. with assurance In the basic
things Of civilization, al last enjoyed
both the satisfaction Of duty per-
formed and the substantial rewards
OF industry expanded. commerce ex-
tended and enterprise firmly estab-
1ished. The day OF like opportunity FOR
our generation is dawning after the
night Of storm and trial.
Our duty TO the world at large Il
pressing. but We will equip ourselves
beet 10 perform helpfullv II we are un-
waverirgly loyal to ourselves. The
most important thing to Americans Is
America. and tho most important thing
to America is our constitutional sys-