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Show THlLLE I Representative Gathering la Addressed by Senator Thomas and Governor Ammons of Colorado, UTAH'S EXECUTIVE H IS TOASTMASTER .H IH Colorado Solon Discusses "the Currency Bill and Its jH Probable Effects on the Country." Two hundred prominent business and professional men of Salt Lake applaud-cd applaud-cd vigorously last night when Senator Charles S. Thomas of Colorado, at the first monthly dinner of the Bonneville club, announced his conviction that tho panic of 1907 was tho last that tho United States would ever experience. IH This statement by the eloquent Colo- jH rado senator was mado in tho course of jH an able address on "Tho Currencj- Bill and Its Probablo Effects on tho Coun-try." Coun-try." Though the subject called for rather a technical discussion of tho measure his exposition was so clear that jH his address was most entertaining and instructive. The Bonneville club last night enter-taincd enter-taincd another distinguished guest in the person of Governor Elias M. Am-mons Am-mons of Colorado. Governor Ammons delivered an excellent impromptu speech, addressing himself to the high cost of living and the solution of tho IH problem through tho reclamation and jH cultivation of millions of acres of land jH in Utah, Colorado and other intermoun-tain intermoun-tain states. Tho governor said that tho people of tho western states should jH unite and co-operate in securing from the government the rights to water and jH land tha aro unquestionably theirs, and in preparing for tho reception of IH thousands of persons who aro seeking homes among tho acres now barren. Note of Co-operation. In the addresses of Senator Thomas and Governor Ammons a note of har-monious har-monious co-operation and nnion was sounded to which tho members of the 1 Bonneville club harmoniously respond- M ed, with the result that the bond of friendship between the representative men of tho two sister states was ma- H terially strengthened. At tho conclu- H sion of the dinner, Governor William Spry of Utah proposed a toast to Colo- rado to which. Senator Thomas gracious- H ly responded with a toast to Utah. The tast' decorations of tho main dining room of the Hotel Utah, the ex-collent ex-collent music by the hotel orchestra and the male quartette., and the superb H ; menu and perfect service, contributed H greatly to the success of tho dinner. H Tho character of tho attendance was H indicative of the interest not only in H tho subject of tho principal addross of H the evening, but also in tho object of H the club in bringing to Salt Lake cmi- H nent speakers from all parts of tho H country to speak on important eubjocts 1 of vital interest to patriotic citizens. Hl Spry Is Toastmaster. Governor William Spry acted as H tpastmaator at last night's banquet. H He was introduced by A. N. McKay, H vice president of the BonnevQlo club. .H In introducing Governor Ammons of H Colorado, Governor Spry took occasion IH to thank the governor of Colorado for IH tho able address he had delivered at the jH Farmers' roundup at Logan. He called jH attention to tho great interest the gov- H ornor has taken m the reclamation and IM development of the west, and said that jH the govornor of Colorado, in common H with the people of Colorado and the people of Utah, was looking forward H with pleasure to the completion of the IH Moffat Toad which would link, more jH closely the capital of Colorado with H the capital city of Utah. H Makes Pleasing Address. Governor Ammons said that the ex- jH porience of preceding Sonator Thomas was a now one to him. As long as he H could remember, ho said, ho had either Bl .boon, following, the. .sepator or getting HH out of his way. He called attention to viH .the. conpppn interests, of Utah and Colo- Ul rado, saying: il On my visits to Utah J havo been jH . more' and. moro Impressed that you H have In Utah exactly the same prob- JH loms und conditions that wc have In Colorado. Tour agricultural and IH stock-raising problems aro exactly H tho same as ours. Mining and in- H dustrlal conditions in Utah and Colo- rado aro precisely the same. In con- jH fcrrlng with the govornor of Utah, 1 jH learn that wo both want tho rends of (Continued on Page TwoJ H B0IE1LE CLUB EES FIRST DI1EI (Continued from Pago Ono.) Utah and Colorado to connoct at tho same point on the stato Una. We are divided only by an arbitrary etate line. Tho opportunity to address you this evening Is an unexpected pleasure. I am not going to take up much of your tlmo, but it I may he permitted I wish to address myself to ono subject of vital Importance, and that la tho high cost of llvlne. This question has been discussed from one end of the country to the other and many varied opinions as to tho causo and the solution of tho problem liavo been presented. I wlah to suggest to you this evening one Bolutlon of tho problem. Facing Big Problem. The last census shows that In tho preceding decade our farmed area In the United States increased only -4 per cent, while our population Increased In-creased 21 per cent. To emphasize this moro forcibly, tho consijs shows that In tho past thirty years the production por acre of staple crops has fallen oft ntoro than 84 por cent. The Increase In the farmed area during tho past ten years, therefore, is more than offset by the decrease In production pro-duction per acre. What further explanation ex-planation do you want for tho origin of tho high cost of living? Formerly our meat products formed, one of our principal exports. Today we aro Importing more meat products than wo produce. Her In tho west wo find tho remedy rem-edy for this condition. In our state less than 6,000.000 of our 66,000,000 acres are under cultivation, and losa than 2,500.000 under irrigation. In Utah, I believe you have a llttlo less than 1.000,000 acres under Irrigation and about as much moro under dry farm cultivation. Rave Chance to Grow. We have toe land out here. We now have the chance to grow. Tho general gen-eral conditions of the country givo us our opportunity. A few years ago the country boy, tirod of the drudgery of farm life, was attracted to the city, lured there by tho high salaries and the diversions of tho city. There was a tremendous rush of the rural population popu-lation to the cities and the trad tf li ters becamo overpopulated. Many a country boy found that all that glistened glis-tened was not gold. The "pendulum swung to tho extremity. ex-tremity. It is now swinging tho other oth-er way. Tho population of the city 1b now looking for the opportunity to get back to tho land. Tho movement Is pronounced In all our centors of here we have the land, the opportunities, op-portunities, the water and the soil to offer those who wish to get back to the land. The high prices which food products command are an added incentive for those who would leave tho populous cities for the pleasures of rural Hfo. We may profit by this movement if wo Bholl join in a movement move-ment to proparo for this increased population, if we shall do our sharo to let the people know whore the opportunities are. Harmony Is Needed. Heretofore the Rocky Mountain states havo not acted In harmony. In the house, our representation is bo small that wo could not hope to do much. Our 3trongth 1b In the Ben-ate, Ben-ate, but In the prist wo have not been agreed on questions affecting tho vital welfare of our lntermoun-taln lntermoun-taln country and we have not pre-f pre-f aented a Eolld front in Beeking the benefits which all our states ahould ohare. Our state governments until recently have not acted in unlnon. However, the governors of our (states recently met in convention In thin city and discussed tho problems common com-mon to us all and determined to bo a unit in working for the welfaro of the Rocky Mountain states. Tho Influence Influ-ence of this union Is already being felt. There Is no conflict of interest be tween Colorado and-tnh. Thoro Is no rivalry, except arlendly rivalry. There 1b nothing that will help you that will not help us. I want to ask you tonight for your co-operation In helping Colorado and Utah get that to whicn they are entitled. We ask tho right to use tho water within our states, tho right to use the land and tho right to tax the property. These rights which belong to us may bo secured se-cured only through a unity of effort. I hope that at this meeting tonight wo will weld tho first link of a stronger union between our two Bister Bis-ter states. Governor Ammons'a address was greeted with prolonged applause. Tho aentlmenta ho voiced were apparently thoso of each of his auditors. Senator Thomas Introduced. In introducing Senator Thomas. Governor Gov-ernor Spry said: Wo aro honored tonight In having as our guest a distinguished gentleman gentle-man who has traveled manv weary miles from tho seat of knowledge, wisdom and understanding In order to be with ua. He lias come to enlighten us and to dispel tho darkness that has enveloped en-veloped many of us slnco the curroncy bill was llrst mentioned. I hope that in Uio course of hl3 address he will disclose to ua how it was that so many of us In tho first lnstanco deplored de-plored tho fact that the currency of tno country should be marie the subject sub-ject for proposed legislation, then prayed earnestly that the currency bill would not pass, and flnnlly how It is that so many of us are now fallng over ourselves to get Into the band wagon and praise tho measure. Assistance Is Offered. Wo are glad to welcome our dtnUn-gulshed dtnUn-gulshed visitor to Utah hocauBe ho has long ovldonced a keen interest In ?UT,.a?alrs' 0nJy recently he has exhibited ex-hibited a maternal or paternal inter-. est in ua. Fortunately for Senator Thomas, we havo no aspirants in. Utah. Perhaps thero aro a few patriotic pa-triotic citizens who would wish to-sorve to-sorve their country honorably and well, and If such bo tho case I think that an arrangement may be made between the senator and myself whereby I may relieve him of tho necessity ne-cessity of looking after their Interests, We wish to make tho senator's stay in Utah as pleasant as possible, and I froely volunteer my services In suggesting sug-gesting appointments. Applicants may call at my office any day between 10 and 4. 8erlously. we are more than pleased to have with us tonight to discuss a question so vital to the nation's welfare wel-fare as tho curroncy bill such an ablo and distinguished speaker as Senator Charles S. Thomas. Address of Senator. In opening his address, Senator Thomas said that he would not avail himself of tho kind offer of Governor Spry In relieving re-lieving him of the duties of providing offices of-fices for thoso who would servo their country. He suggested that the governor gover-nor did not know the extent of tho burden he would assume, else he would provide for an extension of his offlco hours from 10 In the forenoon to 11 at night. Continuing, Con-tinuing, he said: I am honored by tho Bonnevlllo club in tho opportunity It has given mo of visiting your city. It has given mo the opportunity not only to make a hurried visit to tho west, but to make a brief stop In Denver which I have not had slnco I left for Washington on January 17, a year ago. Slnco that time we have had rather a strenuous period at Washington. Wash-ington. Your toastmaster referred to tho capital of tho nation an tho seat of wisdom. It Is also tho seat of many other things not quite so agreeable. agree-able. Among our tasks for the past year has been that of harmonizing a rather slender senate majority In order to secure the enactment of measures vital to the welfare of the country. History of Measure. Your club would have been more fortunate" If it had secured to speak on the currency measure a member of the committee on banking and currency, any one of whom could speak with not only a knowledge of the fundamentals of the measure, but also a thorough familiarity with the details. As a momber of the senate sen-ate I can speak to you In a general but doubtless superficial manner of this measure. Prior to the reports of tho senate commlttco tho bill was undoubtedly undoubted-ly the most thoroughly discussed measure that has been enacted. During Dur-ing that tlmo there arose precisely i the character of opposition to which your toastmaster referred. That opposition op-position was born of apprehension and anxiety lest tho effects of the measure should bo disastrous Instead of beneficial. That sort of opposition opposi-tion Is wholesome In legislation ofttimcs because It acts as a check. It Is true that since the passage of tho bill it has received the support sup-port of the business world and of all classes of poople. Those who formerly former-ly were loudest to condemn aro now loudest to commend. I don't know I whether we are to believe that their condemnation was born of some sinister lnllucnce or that, llko Paul of Tarsus, they suddenly saw the light. Perhaps their philosophy Is llko that of tho Irishman who, when disappointed dis-appointed at tho weight of his pig, said: "Well, It doesn't weigh as muoh as I expoctod, , but I never thought It would." Old System Discussed. Before going Into the details of tho now measure, Senator Thomas discussed the old banking system, Its origin, its merits and its detects. He showed -how the financial fi-nancial system of this country was largely large-ly a system of credits, pointing out that tne aggregate bank deposits were many times the amount of money "in existence. Ono great defect In the banking system, sys-tem, ho said, was the pyramiding of reserves re-serves In a few great banks In three re-servo re-servo cities. He read from Senator Owen 3 report on the evils of this practice prac-tice and referred to Sonator Owen as a man ' than whom there Is no more profound pro-found student of finance In public life." This report declared that tho concontra-v,h concontra-v,h '"serves meant the financial star-st? star-st? Vn03t 0f Ul country In times of stress. The now currency net, the ro- New York 'St. l?J1 tho r tr0 tvev. xonc stock exchange lntn tlm ,in nels of honest and legitimate business ln-tlondatfthenCSf ln-tlondatfthenCSf nf '3aneerous "pecuS-f?WI&,?8i "pecuS-f?WI&,?8i In'XW'V emb,,nS e- Paradoxical Provisions. oo'fihe ohL barKing laws, Senator Thorns Senator Thomas referred tti, and disastrous effect! of ' Ami . i or?an 'n.roforrl,, g to t0h?S,i?of W e The terrlhlo panic of 1107 irth L, VE SS a"d flnffi be'll ovS S lasi tiiat this country will ever v suddenly .like the tolling o" the Sell at midnight He said that It was a clear evidence of the danger of a defective financial ystem causing a disastrous naix! ic. It came, he said, at a time when the country was prosperous nnd there were no natural causes for It. Caused by Speculation. The panic, he said, was caused bv snec-ulnUon snec-ulnUon in copper stocks. The train wus nred and the explosion occurred before anyone was aware of the danger. Ho said that the house of Morgan had been given the credit for arresting tho panic, but it really should have been given to tho secretary of tho treasury who deposited depos-ited with that banking Institution 825,-000. 825,-000. 000. ' Out of this panlo came tho lyiowledge. declared tho senator, that It was possible for tho credits of the country to be controlled con-trolled by a few men and that whoever controlled the credits of tho country controlled con-trolled Its destinies, present and future. Krom this knowledge camo the Aldiich commission, the Investigations of which, ho said, had given tho present congress the Information on which the new cur-roncv cur-roncv act In based. Senator Thomas then discussed In detail de-tail the leading features of the currency measure ne said tliat tio proposed reserve re-serve bank notes were the best secured money In oil tho world. He said that gold was made tho basis of the socurlty For theso notes. IIC said that, he thought It was a mistake for a country to pin its faith to a single metal, but that tho opposition op-position to silver developed in lSOU still continued. Ho said: "If a western mnn says silver, whispers whis-pers silver or thinks silver the average easterner gets an attack of financial hydrophobia." hy-drophobia." Concluding, Senator Thomas said: I bellevo that everyone Is really glad now that we have enacted this great measure, that wo have gotten It behind us and can now turn to something else. I believe that all of tho country has confidence in at least tho good intentions and the Integrity of the present administration. Such a confidence must surely bo a great moral force for good. Lot mo repeat that I am deeply I grateful to tho Bonneville club for the opportunity it has given me to partake par-take of the proverbial and unbounded hospitality for which Utah has so long been famous. In Presidential Suite. "When Senator Thomas reached Salt Lako yesterday on tho Overland limited ho was met at the station by a committee com-mittee from tho membership of the Bonneville club and taken to tho Hotel TTtnh, where ho was given tho presidential presiden-tial suite possibly only by coincidence. Mr. Thomas said that tho grandeur of tho suito hardly conforms with his conception con-ception of Jeftersoniau simplicity. At J o'clock he was tho guest of Presidont i "W. F. Jensen and the members of tho board of govornors of tho Commercial club at an informal luncheon at tho club. Those at tho luncheon wore W. P. Jensen, John F. Bennott, William Bowon, Georgo 11. Dcru, Wesley King. Frank S. Murphy, Fred 0. Richmond. Georgo A. Stoinor, Charles Tyng. Theodore Theo-dore W. Whitelcy, Charles A. Quigloy, Joy II. Johnson, Dr. E. D. Woodruff A. H. Crabbe, James H. Moyle, W. H. King, Mathonihah Thomas. Colonel T. G. "Webber, Georgo O. Ilolf, Jorrold R, Letcher, Frank K. Nobcker, C. C. Parsons, Par-sons, Sr., William Story, W. It. Wallace, Major It. W. Young, A. X. Uoppaugh, A, Ai. McKay and iormer Sonator Joseph. Jo-seph. L. Rawlins. President Jensen, in a brief speech, introduced Sonator Thomas, who made an informal talk that was warmly applauded. ap-plauded. .Senator Thomas said that the Domocmtic part" had come into power as a result of a change in tho seutament of the country on tho economic problems prob-lems of government. The party was pledged to thoso who voted it into power, pow-er, he said, to make radical changes. Sweeping reductions in tariffs, he said; were made by the Democrats in coniormity with tho mandates of tho poople. Tho currency measure, he Baid, was a part of tho constructive programme pro-gramme of tho Domocrats that was at first condemned and later universally approved. The trust problom remains to bo solved. This question, he said, was not a party problem. All recent administrations, ho said, have oeon confronted con-fronted with this question. United effort ef-fort on the part of all uarties, ho said, was now being made to work toward an intelligent solution of the question. Sonator Thomas was followed by former for-mer Senator Rawlins, who commented on the fact that tho great economic and business questions of the country wero now being approached without tho spirit of partisanship that formerly prevailed. pre-vailed. Business men of all parties, ho said, wero discussing theso questions calmly and intelligently. Following tho luncheon an informal reception was held for Senator Thomas in tho clubroom5. During tho afternoon a great many prominent men of tho city and a number of women called to greet tho Colorado senator. |