Show THE ANNUAL BANQUET now york chamber of commerce dine and toast secretary detary carlisle the guest of honor lie makes the usual stereotyped goldlee speech new york nov 21 the annual banquet of tho the chamber of commerce comin in erce took place tonight three hundred prominent pi eminent business men were present charles S smith president 0 of I 1 the chamber presided and at the table lion hon john G carlisle secretary of tho the treasury occupied the post of honor among tho the others present were hon wm walter phelps Ph elpi lion whitelaw reid lion carl schurz hon ilon st clair mckelway lion ilon murat lion ilon james 11 II eckels george 31 pullman of chicago hon ilon win amo 0 hornblower horn blower and florence 0 driscoll Drig coIL in the 0 opening pening speechmaking speech making the president t look ook especial pains to commend the tile character of tho the new york banks and their attitude toward the country during the tile recent financial crisis lion ilon john G carlisle secretary of the treasury responded to the first toast of the evening which was commerce demands and the honor of the country requires the obligations of the united states shall be paid in coin current in any market ot of the world and tho the question shall be settled for all time and beyond controversy carlisle said in art part while it will be unfair to altri attribute uto the tile unequal distribution trib ution of our trade with the outside world to the character of their financial legislation I 1 think it may be safely asserted that tills this country could not lone long maintain its present position as one of the most conspicuous and important of commercial nations which now control the trade of the world unless we preserve our monetary system substantially at least in accord with the monetary systems of the other principal nations wo we c cannot annot possibly y change the situation and consequently the only practical question is whether it is better to esta establish blish by law an inferior kind of money for use at home exe exclusively lu and another king for use abroad or have all our money good 0 a enough for evl use in every mart where r e our people trade gold is the only international money it is useless for the advocates of a different system to insist that this ought not to be so it is so and we can not change the fact I 1 have ne never v er boen able to understand what is me meant a n t by a double standard of value and no never v er found any one who could tell me to my mind it seema seems as absurd to contend there should bo two daffe different rent standards as it would be to insist upon having two yard sticks of different lengths or two gallons of different dimensions II 11 the tile two standards are not equal in value it is evident one of them must be a false measure and if it they are equal in value it is evident no matter what the law might declare there donld be in fact but one standard if for instance the silver question whether the obligations of the united states will be paid in coin current in all markets of oi the world lias has already been settled in my opinion for all time to come this does not imply that silver is to have no place in our monetary system what is to bo be the ultimate fate of that metal is one of those problems which time and events alone can solve but for many years the fluctuations of its v value alue have been so rapid as to demonstrate ile the fact that it cannot be safely coined without limitations into money of final redemption at the existing ratio or any other ratio that might be established among the other speakers was wa a the hon wm mckelway on municipal government the hon william walter phelps made a felicit ious reminiscence speech |