z nay. luiisuimMtiwiiM THE DAILY EVENING TELEGRAPH PHILADELrniA, MONDAY, MATtCII 1, I860. ink ER OF COriMERCE. r;i r: Citation of the Few Hall of the Commercial fkchange IVcfoy. . Addresses by John H. Mioho nor, E. Harper Jeffrioa, and Georgo L. Buzby, Esqs. Tl dedicatory exerciser ot the new hall Of Vaa Commercial Eactaamro, In the Chamber ol Commerce BullcMnp, on Second street, between Chtsnat and Walnnt, attracted a large audience, jpoed Id great part of ludie. Delegations from the leading commercial associations I Few York city? Boston, Baltimore, Chi cago, Richmond, and other cltlos were present, by Imitation, to participate la the ceremonies. The hall presented a ma? Ucent appearance, and served as the unlvcr Ml theme of conversation while the audienue ere awaiting the opening of the exercises. The occasion was also enlivened by very artistic Music by the Liberty Cornet Band, the meuv Jers of wbiob, arrayed In gorgeous new uni. Jorrjue, had the appearance of a battalion of sjorgenerals on a grand field day. At 12 o'clock the dedicatory ceremonies were epencd by a Prayer by tb Itev. George Itrlnglinrst, m folio "Lord, Thou hast been our dwell ing place in all (fenerations. Before the moun ta as were brought forth, or ever Thou hadst fumed the earth and the world, even lrom everlasting to everlasting Thou art God. Tue heavens are Toine, and all the hosts of them; tae earth and the fullness thereof, the worlJ, sod they that dwell therein: Toy dominion is n-eveilastlDsr dominion; holy and reverend is Thy name. We worship and glorify Thee, the triune God, and bow in humble submission i fofnra Thee. Thou king of kinus and lord of y lords. We invoke Thy blessing noon this featlatnr. this enterprise, and Thy ser vants connected therewith. May the golden rule he practised by all who tread these 4- " . .J ... -1 . 1 v u u X l b I buu way mcjr uu juaiitv, ijtc Ktercy, ard walk humbly with their God. Bless this occasion lor the promotion of all which is pare, holy, and useful. Prosper the trade of nr nation, preserve the public peace, inspire the press with truth and charity, bless every commercial institution of our city and land, ear institutions of loamtng aud benevo lence, five us In abundance the fruits of the earth satisfy the pior with bread, and com fort the afflicted. Pour out Thy spirit upon Thy nervsn's who are with or to day lrom abroad, especially be with the members of the Philadel- (1M HIirLII 111 lllfir Hfllll,. LllK Wl'lf 1L III eternity; make thin diligent and serious in their preparation for it; and as they meet in this place day by day may they buy the truth aud seH it not. May they, without exception, bo live that when iX? earthly bouse ot this taber sacle is dissolved, they will have a building of Cod, an house not made with bands, eternal in the heavens; and to the Father, Bon, and Holy Ghost will we ascribe blessloer, and honor, aud sjlory forever and ever. Amen." At the conclusion of the prayer the Liberty Cornet Band rendered a piece of music. John H. Mlchener, Esq., the President of the Com mercial Exchange, then appeared, and delivered the following address: Add res by John II. Mlcliener, Esq. la response to an invitation from the gentle eo of the Commercial Exchange Association, svnd whom officially I have the honor to repre sent, we have this day assembled lor tho pur vobo of dedicating to the commercial and manufacturing interests ot Philadelphia the magnificent and beautiful hall we now occupy. tor ether with the Chamber of Commerce building in which it is located, and both of -which were designed and built expressly for tae purposes i nave jusc inaicateu. Whilst it is quite true that many of our friends not connected with us are well informed as to the objects of onr organization. It is also equally tone that many others, including by far tho larger portion of the public, and particularly the ladies, are entirely unacquainted with the vmrnoses for which we daily meet. It may therefore, at this time not be out of place to ' svilsoe briefly to its advantages as viewed from the standpoint of business men. In large cities it is impossible that parties representing the various commercial and indus trial pursuits should be confined to any particu lar locality, but necessarily the reverse, being scattered and widespread throughout the community. In the natural course ot trade, aid from ihe fact that each particular branch and each individual is more or less dependent ebon another, business interviews become accessary, and iotercoune indispensable. It is therefore not unlrequently the case, and par . ttcnlarly ia our own city, that miles intervene Between the buyer and the seller. the commission Merchant, and the Jobber, or the manufacturer and his agent, who may happen to be located upon either extreme of Us limits, and thereby necessitating, when compelled to see each srthtr, the loss of much valuable time when It an least be sacrificed, and frequently a total disappointment, from absence of the party "v- senaht for. The predominant feature of onr association, ladles and gentlemen,, is to obviate this dith enlty. A certain hour of the day is established fer high Cbange, when the reports of markets, both at home and abroad, by telegraph or tberwise, as they may- be obtained, are dally xead by the secretary, previous to which time the members have gathered upon the floor lrom all sections ot the city to bny and Mil from or to each other, and to interchange views upon the state ot trade and business generally. Thus we are enabled each day to meet with the various parties with whom wo trade, and In an hour or two to transact more Business than was formerly dsse in a whole day ft remaining at oor stores and warehouses: aud thus it is that the energies and the resource of Individuals are concen'rated and rendered the ore effective in competition with these not embraced In the memDersnip. There are many other advantages that natu Tally arise from snch a combination of interests ,fr the attatument of a common good, aud which engender a powerful influence in favor f onr locality, both at home and abroad, and aid materially in procuring such laws and reuu. latioas as n ay be found necessary for the benefit ml trade generally. I sball ias these by, however, and endeavor tm explain to yon the necessities lor, with the Mfvia and Botnoletion of. this building. far several vears past it has become quite apparent, lrom the steady and rapid growth of f our association (wnicn is quuu coin pru tun rve in Its character, excluding none whose mercan. lie and social standing in the community wocld eem to warrant tbelr admission, bat comprising All branches of trade and commerce within our tart diction), that the quarters we bad so long ecBWled were entirely too contracted and ' Msslitd.iD tpace, convenienoe and faeil tWB, for iii accommodation, and that wt must thet!ore anautnallv rnlareo -our sphere l action or MtHruie from the rroud and inicortaut Dosi sn, as a mercantile organization, we Jtad Klrarnl attained. witn tneee views, at u m orucr tu mrn uo aigcncUa of the future, audio provide for the natural expansion of trade Incident to a largo ty like euro, number of enterprising gen ie aaea, merchants connected with, our organiza tion, aerared the site upon which this building Is located (snd upon which then stood tho old Ttrn, or slate-root mansion," celebrated as the tesldeseaot W m.Penn and otherwise htatorleaily eaaauted with this locality), obtained a chir art trosa iha Leglslatare of our Btato for the farposa. end ouder the title of Cbameer of WufumrK formed within onrsaltas a stock pvooeedinjj at ouoo Vi tb wr tot which we were Incorporated, and wnlel yon today behold bo uocestiuliy wrought to cm plftioo. Tbe contract for the bnliair) was awarded to John Cramp, Ksq., of Philadelphia, the well k9B wchitecv boilder, who. bow proJeoUnff and completing t,?; the iandsonie structure, that bn"f?, and adorn onr city, taolaAtog l nw occupied VJ lDlliiuxlON. - i As jou doubtless oceWe, Mr. Cnimp has computed his contract with the Chamber of Commerce In a most substantial and workman like mnrner, and with entire satisfaction to the committee of gentlemen who have supervised U Tbwhnle building is heated by means of '.he Improved steam hcutlug apparatus of AnilB, Ilarrleou a ,o muiuums ww ouuers of fourteen norse f" -. orit is done neatly ana suosiauuunj, nw KtVos the moft Batisfactory evidence of a prefect success. The room we occupy, as 1 hav already Indi cated, is Intended solely lor ihe R(! Df tne Commercial Kxchnr-ge, and especially adapted to their wants. Ihe rostm Rnd turuiture are hIfo, in detipn and fin.s' the produc ion of air. Crump. The Irepco'.ng, a most striking and brautiful ftature of. the hall, with appropriate emblt mntic designs. Including thoso of Com Txercc. Navlgat'ion, Industry, and Agrlculturo, tantoiully vkelchcd unon tbe ceiling and walls, is the production of Messrs. Walter & Boulsy. Tbe pas fixtures were manufactured by Cor nelius & Baker, and, as uoual, reflect great credit upou that enterprising firm. lle plumbing, which is of an unuual char acier. Las bten m st satisfactorily completed by McKetrldge A Brown, successors to Wright & llunter, and the curtains and hangings hy the well known firm ot Shcppard, Van Harlin gen ft Arrison. The bct skilled artisans and mechanics have bren employed in the various dcpurtnitntB, and the whole work is of the most compete and satisfactory character. I have thus given you an outline of the in cep ion and completion of this beautiful struc ture, referring more particularly to that oortion of tue building to be occupied oy the Commer cial Exchange, for tbe twofold purpose of niHking you familiar with what wc conceive to be an Important feature in the luture history of the trade and commerce of our city, and thus publicly to express to you our unqualified approbation of the successful and satisfactory completion of the work by the various parties saving it in charge. Another piece of music wss, then given, after which came the following Address by E. Harper Jeffries, Esq; Ladies and Gentlemen: Some fifteen years ago twelve gentlemen connected with the flour aud giuin trade of tnis city met at the residence ot Mr. Itcnry uudit, ana u ere interchanged views respecting the propriety and feasibility of lounaipg an exchnge where sates could Do mudo of flour, grain, nod seeds. From this private conference fprnng the "Corn Exchange Association" ot Philadelphia. Colonel William B. Thomas, a large manufacturer of flour, and a highly esteemed citizen, was elected the first President of this organisation. Its history from that date is familiar to most of vou. As years rolled on it grew in numbers. in influence, and in vital importance to the trade of the city, until now In this our day it embraces in its membership more than five hundred firms. Its usefulness and influence were largely increased by the admission of representatives lrom all branches of trade shippers, railroad companies, manufacturers, provision dealers, banks, bankers, eto., and when thus comprehending every feature of the ousiness interests ot our city, the more compre henslve title ot Commercial Exchange became a necessity. Its popularity among the active business men of the community has been stimulated, and, per consequence, greatly added to its usefulness as the organized centre of Philadelphia trade. It is such an association as ours that infuses into a communitv an active, progressive spirit. that concentrates the eneigy of our eight hundred thousand population, and makes this activei.v leit in the tar west, in the remote South, and, Indeed, all along tbo?e avenues of trado which haveau outlet at tide water. Even across the Atlantic the importance of Philadelphia's trade la now sufficiently recog nized by a sngaolous Iiiufilish Arm to Justify tbem hi establiBtiius a nermanent line of lour steamers, running regularly between Liverpool ana our city. It is not my purpose to eulogize tbe character of the thorough man of business, nor to draw invidious comparisons between those engaged in trade and others who till the soil or adopt other avocatiot.s in either crotossionat or in dustrial life. But we all know that to buy or cell on 'Change is the work of a moment, and takes fewer words than 1 use in my teeoie way ot explaining the process. "I take it," or "It is vours." closes ine contract as inuy ana unalter ably and inexorably as though the transaction was reaucea 10 writing on parenmenc. xuus, in an instant sates involving thousands of dol lars in amount momentarily occur; and it Is so rare a thing tor either party to prove delinquent, that amazement and contempt follow anv failure tofulhl the brief agreement In buying or selling, in ail ages ana an coun. tries tbe merchant has been ambitious to attain gilt edged" prominence for bis name. And Whether it Is the Asiatic selling his silks and snicesirom tbe panniers of the camel's back. the savage of the Western Hemisphere closing outmspac&oi iurs, or me cuiiivatea man ot DusinesB operating in tbe commercial centres of Europe or tbe United States, each keens uppermost in thought the talisrnanic word, the lounaauon oi an Business success and pros terity, integrity. uramped tor room in the building over the way, i known the city over as the "Corn Ex cbiinee," a few wealthy and public minted business men cpneeived the idea of erecting a eiruciure commensurate wun tue growth and importance of our association. To their energy, aiueu oy tne iiDcrautyoi menus, no we owe the erection of this magnificent building. We can now boast ot a 'Change where merchants "most ao congregate" equal tn capacity and grandeur to any in this Union or Europe, and wbilot we should be proud of this Temple of commerce, as an ornament to ouruooie olty uu h BuuBiaiiuHi huu eiegaut monument oi the thrift ot its merchants, manufacturers, and shippers, let it likewise be our pride that no transactions within Its walls shall ever tarnidh the fair name now so universally accorded us in rival commercial cities. Tbe history of lour association Is not only tbe history of commerce, of progress, but ot uoerauty which has been exemplified in con tributions to charitnble objects. When the crv of starvation came lrom across the waters, our members sent food to tbe famishing operatives oi mw ureen jsie. wnen a great part of the flourishing cltv of Portland. Mulno lata ,n ashes, its people received a munificent sum from our association. When the great fire from coal uu uix-urtu m our owu city, and at the bottpr explosion in Bumom street, where a number of pcrtons perished in the flames, our Corn Ex change members, as usual, opened their narsn. strings and contributed to the families of the tuunrii, Thirty thousand ooiiars was raised by the relief tuna to distribute among the wives and families of our brave seldies iu tbe front. Our expenuitures on the reglmonts In tbe field and lor their loved ones at home exceeded one nuutirea ioou?anu uonars. These gifts prove the generons Impulses of our members: that, although wrapt In business pursuits, they have not forgot the distress and uttering of the worthy. These tattered battle rlagsoftheCorn Exchange Beelmt-nt, tbe assets of our patriotism, silentlv echo the loyalty of our noble organizaiion at that fia'k period when the lire ot the nation wai in ieooardy: and though mny a gallant spirit never returned to receive the plaudits ot the association under wbo ausotces he went forth ti hattifl. still we have now in oar midst. oer haps in this ball at tbe.prerent time, many a maimed warrior whose bosoa swells with pride at the part taken iu Ihe heroic straggle which eventuated la establishing oa n indestructible by tue adoption (upon tbo pari f bHu non appointed for the pu rnoso), of P nibbed by blm for the new bulldinKS ot tne war J:...t .1 Washinctori. soon to b8 erected bals an onframmellod commerce, over which float one flBg- fl nrt unfolded to the winds of heaven In Philadelphia, and protecting pi-opte who are all tree, fiorfl" the St. Law rence to the Itio Grande and trout th Atlaalio te the Pacific. Another Instrumental piece was glren, and the exercises were then brought to a close, by the following Oration by Oeore I rt,bjr Eg1. Influence in tb' tBetcenln oentury. Iu all ages Hif-u na,, jombined their energies for the uaittr-.eui of some common end, but. In earlier tvn mainly for aggressive purpose. Armies, were raled and wars waged. Force loto.wa respected, and honest industry too generally depised. But the warrior h is ceised tj he the central figure ot every group. Tue field of commercial enterprise is more inviting than tbe field ot battle. Tbongh wars have not ceased, nor perhaps ever shall ceake.lt is still true that the daring spirits which once found congenial employment in tho perils of the fiuht now find more fitting occupation in the vast industrial enterprises of our dav. These demand for their successful accomplish - ment tue union oi many minus ana many fortunes. Co operation builds our great rail roads, leys Atlantic cables, and rrars grett factories. Woikiug downward from these conspicuous examples, it displays itself in societies for tbe benefit of every clats of citizens ami variety oi occupation, commercial Ex changes and Boards ot Trade arise. Urged on ward by tbe spirit ot the time, we assemble hereto-day In this new and splendid hail. The growth of the Commercial Exchange of Philadelphia has becu eloquently portrayed by the gentlemen who have preceded me. Froth every department of business we are daily re ceiving accessions to our number. Our institu tion becomes more and mote the true exponent ot the commercial interests ot our city. It Is to u. tl. ere fore, that theee, in all their breadth and scope, have a right to look for encourage ment and support. We have not, then, done all that we should In making this hall a place lor the purchase and sale of merchandise. Tons Is committed the maintenance of the reputation and general in terests ot our city. Taeje we must vindicate ou every proper occasion. Philadelphia is, espe cially, a great manufacturing city. Foreign commeroe wears so splendid an appearance. and so oblrusively confronts the eye. that those fur mightier interests comprised in domestic manufactures are apt to be underrated. Yet every thinking mind must recognize the supe rior stability of wealth amassed by the appli cation of a multiform Industry to the resources oi our own locality and country. Upon the development ot these, foreign commerce itself can alone rely for permanence and growth. Great Britain owes her vast marl- time trade to them, tier limited European territory and inadequate supplies of home grown food would Bcarcely invest her with tbe ownership ot a single vesEel, had not her trea sures of coal and iron mado her the workshop of the world and all nations her debtors. Her fabrics fill her ships and enrich their owners. We are prosecuting manufactures upon a great ana succesemi scaie. xneir gross amount is no less surprising than their eudless variety. They are saiu to oe more oiverstaea tuan tnoseot any olty in the world. Their accumulating surplus seeks an outlet. Our great river is our natural highway; its ability to float anv number of the largest ships is no longer questioned. Whilst tbe majestic Delaware flows along our city front, the no less useful Schuylkill ours its aid in the transportation of our merchandise. Our Iron arms reach far and wide to crasD tbe products of the interior. Thus wc are meeting the requirements ot everv phase of commercial activity. The reward ot our efforts is found in tne concentration ot iuu.uuu nouses and a popnla Ion ol 800,000 touls upon our city's broad domain. But whilst wo confess the superior Import ance ot a traffic based upon home indastrv, and believe in a tariff for its judicious protection, we zealously advocate the promotion of the trade ot Philadelphia with foreign countries. That trade is steadily increasing, and arraugo- niema now in progress win largely expand It. In the presence of so muny friends lrom various quarters, we cannot with oroorietv dilate upon themes especially bearing upon our interests as Pblladelphians, nor need we bo restrict ourselves. For still advancing our claims, we assert that it is the province of this association not oniy io ouy ana sell ana to con sider the general trading Interests of our city. but alto to weigh well questions which touch us all as citizens of these United States. Your minds will readily revert to the proposed resumption of specie payments, as one ot those. More man two years aio this body passed upon thla mi mp.r. th. rn Inmnap racn ntiAna nrh.ih When read before tbe National Board of Trade.' luieiy conveneu in iincinnuti, received merited appiause: Betolved. That specie payments can onlr be nurrr a. nenily resumed wnen abundant crons. ueoessini in. dostry. and tbe restoration of pollt.ctl narmoov, shall have given ue the means to draw gold nitber, aud keep 11 among us, JUtoived, Tnai premature resumption will prove a curoe ruu uu, m uivoeiua The opinions embodied in these resolutions are held oy you in undiminished force to-day, In them you have drawn a broad line ot dis tinction between the power of mere legislative decrees ana mat oi tne omnipotent creator. who can alone bless our country with favorable seasons and fruitful harvests. You recognize the simple lact that laoor working everywhere in harmony toroughout our great country, is the indispensable agent or substantial nrosceritv and financial reform. There is a great variety oi plans onerea tor tne amendment ot our currency and banking systems. With rar exceptions, tney wouia emonrrass Trade and make matters worse. A masterly inactivity is wnat we most require, me proposition so frequently made, that tbe national treasury and banks should hoard their gold, is a direct confession of inability, lor an indefinite period. to resume specie payments, we oare not permit goio io now wunoui restraint wnitner the wants oi traoe may can it. By interposing tbe barrier ot law against its dispersion, and so gathering an imposing pile of the precious metal, we timidly hope that confidence will bo created in our ability permanently to pay it out wnen arttnciai restiamia suuii nave been removed. But we forget that foreign eyes are fixed upon our tlitteiing store. Men abroad hold our obligations, and shrewdly caloulate our means. It they perceive no real growth in wealth on which to bise resumption; it they see that we are still unable to deal with Europe upon equal terms, that the ba.ance ot trad still rules against us, how long would the foreign holders of $860,000,000 of American securities leave us in posses.-ion of our che rished goldr The withdrawul of a minute fraction of this sum would dissipate our Illu sions in a moment. Even if our own people should forbear to ask for gold, would foreigners be equally conslierate? And what in that case would become of resumption? ilany oi our merchants engaged la foreign trade are apt to regtrd this subject with eyes turned exclusively abroad. In their anxiety to restore a specie equilibrium between this country and Europe, thev ignore the vastly greaier Importance of our domestic commerce, ana toe necessity or securiuz it from wanton disturbance. They seem unmindful of the inse parable connection between their own interests ana those ot tne people at large. Mo cry nai ever come ud from these patient workers in bebalt of contraction of tbe currency and early resumption of specie payments. These have been strenuously contended tor in polllict) circles and in the interest of a few. But the Deoule know. In snitn of the nmlniiiulot: rrnnn ing on finance, that these measures strike down Jo the very roots of their comfort and prosperity. They know yoa cannot wound these without an nihilating every scheme lor resumption. Labor, persistent labor, labor encouraged by law, not thwarted and depressed, can alone amiss ine wealth on which to base resumption. That labor applied to our fields, oar mines our factories, and our Wurehouses, should be aided, not dismayed. Distract, contuse, and alarm the peopie, ana growing poverty must be the j cum i. why should not gold h rii....y. nm mndity for export as well as cotton and flour, aud continue sir oned of it. ,,.. J the entire business of thecountry whenever a tew uuiiMHui ut iea eoroao? Yon say its prM Uncinates. 8i dofs that of cotton, flour, and i every other article. The cessation ot secret I sales ol gold bv the Treasury Department t)l bring t's Alternations within the saint limit and lanae that arxly to other artie. To is Is not the time dicus this subject la detail, but Its Vpoitance will Jueti'y a few addHi'u remarks. One of tbe curious, not profitable, discussions of the day turns upon tbe amount or currency per ueiu re tunuo wr iub proper trsctactioo of business. lit re the finan cial doctors widely dlf agree, their estimates rarging from $5 to $30 per head. The informa tion they bring us lrom England, France, and ether European countries upon this point Is vntatlstaciorv and discrepant. Mmy reason upon this topic as n mey tnoogni me ooat mat fits a lad ot fouiteen must needs be large enough for Lim at twenty, It ts the desire of some to give the country the very smalist possible amount of circulating medium. They Imitate penurious parent-, who grudging their children all fcpjond the means of the barest subsistence, ana thus starving the development ot bo'n boay and soul, o que ibem-elves unon their economy. A regime l.ke this is not adapted to the wants of a young and growing nation. It may pleae usuiers that the currency should be snll in amount and bard to get, but the enterprise of avigoious P'opie upou a new conttneut de maids an an pie machinery ot circulation. Coijliasiion of the currency bas buea triad and emphatically rejected. Those who urge it should connect with it a reduction lu the rate of Interest upon the puolic debt, and a scaling nown oi private oeb's to figures com- mensurnte with the appreciation of the cur rency. When Great Britain, vexed by this same question of resumption after the clone of the hlapoleonic wars, summoned Mr. Alexander Mating be i ore a Parliamentary commit ee lor the sake of such sncgestl jns a his great expe rience in irade might furnish, that geutlemau stated ibat the amount of curreucy in. any country was a matter of small importance When once values bad become adjusted tnereto. It was the interference with it that gave rite to trouble. Tbe honor with which some people regard the greenback would have in it an element of tbe ludicrous, were it not that the fantasies tricks they wish to piny with it pro duce confusion and distress. No set of men. whether in Congress or out of it, can ever accurately or wUeiy determine what amount oi currency is wanted oy the country. The operation ot a Free Bat king law will solve the problem. (Supply ana deaiana would then assume their juet relations to each ntner. Our national bonds furnh-h an admirable security for the circulation thus to be issued. Oar people would cease to be harassed with fears tor the d minution or eLlargemcnt of the cur rency at every session of Congress. Nor, indeed, is there anything so attractive iu the old system of specie payments as to warraut great los es by currency con traetion or other wise in our haste to return to it. it has never been In the past anything more than a system ot connivances. It is a make-believe that specie exists where we know there Is llitle or none of it. So long as nobody asks lor it all is well; but the hue and cry of a mob close the doors ol our banks in a few hours. Nor should these institutions be severely blamed lor this, It is not in the tramewotk of their orgaDiza'.ion. nor in their mode ot business, that they should be able to meet all their liabilities suddenly oa demaid. It is unreasonable to expect thev ebould be always ready to redeem at once their circulation and deposits. Cau we Justly ask it of them, when even in specie paying times the great bulk of their deposits is received in tbe foimot paper money only? Uon-ctous ot tbe false position In which tbe unreasonable exac tions ot tbe law have placed them, tbe batiks have always been sensitively alive to tbe diminution ot their stock of rpecie through auy extraordinary demand. At such times they have beeu obliged to retaliate upon tne community by a curtailment of accom modalions so sudden and severe as to inflict a decree ot suffering and disaster outol all pro coition to ti;e comparatively paltry sums of gold they sought to save. Wc must, fjr our own preservation, cease to impose upon the banks obligations impossible of fulfilment 'i'bey should not be lett eo vulnerable as tbey nave oeen oy rnns upon mem lor specie by panic-stricKen ieiiow citizens, ortiemautis upon tbem for it lrom abroad. Heretofore tbey and we have been tremblingly subservient to tbe great moneyed institutions and capitalists of uorope. whenever it has suited their necessi ties or caprice to withdraw from us a few millions in gold, our whole commercial fabric bas br en shaken to the centre. Kieht times in sixty-four years. saysRobert J. Walker, has our system of specie payments exploded, causing general ruin and distress. To siruggla back to it with enforced haste and much sutfering, only to experience eight years later anew col. apse. Is not a cheering protpec. Financial science muht yield a better result than this before anv great eagerness can be excited In the masses of our people for resumption. Another theme to which your attention has been aud will be called Is tbe railroad system oi our country, it ts said a period ot mty years was requred in ureal Britain to mature a per fect system for the carriage of passeugrs by Hues of stages. If this be true of tbe British ides, It is evident that great as ha beeu our railroad expansion within tbe past lew years, it is still in its infancy. From East to West we have heretofore mainly laid our rails, and are now spanning the broad continent with rnem. nut in me new era into which our country is passing, many a line will run from North to South. An iron reticulation will cover the entire face of tbe United States. Step by step with its progress will arise questions of great importance to tbe welfare and prosperity ot our people. Tbe greatest freedom in the use of these roads will be necessary. Tbe same cr will ltave any point and travel to any other point without obstruction over an conneotlng links of road. For the transit of passengers and freight boundary lines ot sister States must be practi cally obliterated. No restrictions ot a petty or local character must be imposed upon the free circulation of our people and their commo dities. There are not a few who think a nilroad company should simply furnish tracks aod motive power, ana me puono nave me prefer ence against the company iu placing freight cars on tbe track. It is claimed that oor right to use a railroad should be as perfect as tbat we exercise upon a common turnpike. We will not discuss tbat question here. This aod others will have your consideration and expression of opinion hereafter. You have already given tbo sanrtion of your approval to the enactment of a Free Uailroad law by our igi lature. ana will always be found on tbe side of tbe largest liberty to the movements of our domestic trade. Leaving railroads, we may briefly touch upon another matter of general interest. An etlort has been made to incorporate tbe telegraphic with the postal service or the United state. In justification of this protect, it is eald tbat better management and cheaper rates will be secured thereby. Tbe genius of onr institutions is hostile to the assumption by tbo General Government of business whicn can oe trans scted by tbe peopie. Ills probable that stock holders and direotors of telegraphie lines will uot be unmindful of the hint they bavareceived. but will reduce their charges in couformity with tbe demands of tbe public, whilst securing a lair remuneration for themcives. Arother subject may still bs alluded to as pertinent to this occasion an 1 to jour vocation as buMness men. Whether any rate at all should be fixed by law tor tbe use of money, and if fixed, wbatthatrate should be, aie questions frequently disenssed. In countries possessed of tan accumulations ot capital and therefore the creditor nations of tho world, there is a dispo idUon to lelax restraints snd do away with umrylawa. Whero capital Is in the bandiof comparatively few, leesl rates. have always been established by government. There Is rea son to believe that this distinction In policy will alwavs exist. Free trade in money will be brought about as free trade in merchandise will be. A wide spread aocamnlatlou of domestio fabrics will produce the one, and a general d i Huston of capital in largo amounts the lA.f minor apect of this subject has been pre sented in tbe proposition to make the legal rate of interest In Pennsylvania seven per cent. It la certainly desirable that capital should flrd the same inducement Io seek, Philadelphia as it does her sister cities; but it is not wholly elm tuft lte o( ce&t, is not equally availing lor this purpose. A au element of I Into the liberation ot every article.' It beapens production. Toe qoesilon tnerefore aft, e whether, lu a market where all reason able demands lor money are supplied at six per rent., the snpenor cheapness vi money does uot invite the establishment ot factories of every kind. Those in their turn crea'e capital, and hi Id to keep down tbe tate ot interest. At all etents, six pr cent, seems not to have Inflicted any visible injury upon Philadelphia, Upon this point yow must ne io' aruut-r. From these brief allusions, we learn how wide la the range of topic which engage tbe attention oi ihe man of busines. Hi-, occupa tions lead him to the consideration ot the deepest problems of statesmanship and finance. His eyes see and his bands grasp theenosof th earth. The revolving seasons riret proclaim to bim the deartb or abundance ot every laud. Craiire? to foreign governments and their com m rciul Nws are first knoen to him. The social habua of all peoples and their every want. even to tbe minute', are conned and learned by ioic by this vixllant ouerver. fie presses Into bis service every att and tcience. steam, in all lis n auiloid applications, and elecricity, witb its more subtle and wondrous powers, are bis obedient slaves. Tbe spirit of mercan tile adventare bas explored our entire planet, It pioapted the voyages of Christopher Columbus, Yasco de Gams, Drake, aud 41 a gel inn. ilercaLiiie enterprise is changing tne face ol tbe globe. Thai men of such executive ability must and srould Lave commanding Influence is not to be questioned. Tne leglflation of our country will n ore and more reveal that influence. The re cent oreauiza'iou of a National Board of Trade edictivdv conceuti ates lk Familiar acquaintance with the principles of cou merce ana nnance, aemanainr. as it aocs, much io'eliectunk exercise, implies a large capacity for the enioy a ent of tbe elegant arts. These have ever lout.d iu men ot business mun ficent patrons. When Athens shone in her treatest splendor, and architectare, sculpture. painting, aLd poetry made her mott attractive when the wisest philosophers ana most accom plished sch'.luis resorted thither, and looked upon her beauty with delight, it was then in the culmination of her intellect, that ber streets were most thronged wiih merchants and ber wharves crowded with ships. Her fleets were sailing in every sea. and her enterprise felt in the most distant regions. The Acropolis, crowned wl'h rnalestlo buildings, whose crumb ling rums eiact our ad m bat ion to-day, wai not more an evidence of Athenian excellence in art than ot prosperous trade. Tbe cultivated Greek knew how to blend the pursuit of philosophy and art with the avocations of tne merchant. Plato icld oil in Egypt and Aristotle kept a druggist shoo on a street in Athens. Passing don the course of time to the close of the niHd.e ages, our attention is arreitet by tbe lllusTious family of Medici, which supplied to l sly from ber own blood three generations of distil guUhed merchants. Among these were Cosno. surnamed the Great, aud Lorenzo the Magnificent. Their power was felt through out raly and In foreign States. Nobles soueht alliance with the family. The State leaned upon them for counsel and support. The wealth ot many argosies flowed into their coffers, and issued thence in streams of pttneely generosity and darirg enterprise. And here in our own city we can boast of bocorablo names. From tbe celling ol this hall look down upon us tbe features of Stephen Girard. Sagacious, charitable, public soirited. and enterprising, his life commands our praise and deserves our imitation. As a means of giving the business men of Philadelphia their proper place and influence, this Commercial Exchange is of no trifling im portance. A spirit ot fra'erol'y has marked evt ry step ot its progres, and it may be rea- tonablv hoped will continue to the end. Per soual antipathies and petty rivalries disappear under tbe beneficent Influence of daily inter course. Genial svmoathv and cordial co ope ration supply tbsir place. Upon the basis of this healthy moral tone we build a sound- iudg ment ot tublic measures and commercial necessities. Integrity and common sense lead their possessor on to wealth, and in their train follow the purest manners aud tbe highest appreciation of tbe elegant in literature aud art. Thus the rounded man. symmetrical and ccmplete, a combination of executive ability with finUbed mental culture, is found In tbe developed man of business. And here, in this spacious ball, Is a college for tbe making of such men. Let us be true to the principles which. have beietofore governed us. and our success f hall be equal to the lullest measure of our hopes. DRY GOODS. 1869. CENTRAL 1869. CLOTH EMPORIUM. Men's Coatings, Fancy CUeslnieres, Black Cloths, Black Doeskins, Boy a Goods, Ladles' Cloaklngs, Mixed Cloths, Plain Cloths, Fancy Cloths, Opera Cloths, Spring Welgbt Yelveteens, Soper Quality. 8TKA WBRIDGE & CLOTHIER respeotfnlly announce tbat daring tne season now opening thev nrnnoKe to oiler the lamest atooK and most attractive asBortment of all kinds of Ulolha tbat tbey have ever offered. Being de termined to make onr noaee tne central n, in po rt um for Ibis description of aootls, we have col lected lor tbe preuent season every desirable stjle and make ol Cloths tbat tne market pre sents lor Ladles', Men's, aid Boys' Wear. Onr stock of Ladles' Cloaklngs In particular Is very extensive, and boogbt at tne mauufao lureis' lowest eauh rates. It will be to tbe Inte rest of all wbo intend to buy ibis kind of goods during tbe coming season to call on na, as we otter by far the largest assortment to be found, and at prices that cunnot be surpassed anywhere. We lovlte dealers, botn olty and country, to examine onr stook, as onr prices are as low aa tbe same goods can be sold In whole naoaagea by any wholesale house, while we ofl'er maay styles that are oontined exolnsl vely to ourselves. STRAWBRIDGE & CLOTHIER, CENTRAL CLOTH CHrOMUM, Corner EIGHTH and MARKET, PHILADELPHIA. a STEEL & SON Ifaie Now Open a Tery Large and Very Cheap Stock of BLACK BILKS, BLACK LUSTRINE BILKS, BLACK GEO DU RHINE'S, BL&CK TAFFBTAS, BLACK GRAIN SILKS. THE BEST 2 GRO GRAINS IN TUB CtTY. Black Gro Grains, 25 lnobea wide, 82. Very Coarse Grain Gro Grains, S3. Very Rloh Gro Grains, S3 25, 12-50. 82 63. 28.Ifl.eh tiro Grain, $275. Satin-faoid Gro Grains, 13, IS 25, IS-50,51. Finest Gro Grain Imported, 15, 16, 17, 13, 19. Colored Dress I!ks Kew aud Choice Spring Colors. A great variety of qualities, from 11 73 to W, -XOa, T1S AK3 719 JIOBTII TEJtTB UVH ii riuLAPg&rgiA. DtlY GOODS. 123. &TILL ALIVE. joo EPSTEIN & HAINES Again In the ric'.iJ, at the Old 8tautfa No. 123 North NINTH Street, ABOVE AJkCn. Having Failed, Have snrvlvea, and wilt fight It oat on tbasamalht. Ir it iskas a liietima. Win open on TCSSSATi March X. wlib 130,000 worth of Bankrupt Dry Hoods and Kotlons, Aid will offer the flnllowlni goods under onr old motto, never to be undersold, the greatest bargain slues the panto of 16T: Minllns, Liueng, Towels, Toweling, Table Llnenc, 8pkIns, Flannels, Hosiery, Uiovef, It Id tilores, Dress Hood?, Black Alpacas, Chintzes, Hngtiams, Cloths, Casblmeres. White Hoods, Ddkfs. , Fnderwear for Lad Its and dents, and A large stock of Notions. A H will be sold at a ruinous loss to somebody, Oor friends la the retail dry goods business aa? thejr bave bren making grat profit oa goods ainoewa bays been oloetd op, ana are very sorry to hear wt are going to open, as w mats and legulate tht price fer Pry Goods. We alio letnm our sincere thanks to oor friends In tbe retail business for waiting on onr creditors to pay tbem If they would i ot tlga for as to go on. PAEPETUAL MOTION IN CHEAP AMD 8000 GOODS AT lOW P KICKS I IMPOSITION HATKOI OPPOoIT.ON COURTED! COMPARISON INVITED I OOM PETITION DEFIED f THE VALUE ALWAYS GIVEN IN EXCUAHQH POR YOUH MOSTKT t We are bound to make oars the llvest Dry Good House In Phlladeliiha. b in all profits, quick sales. and ocelow pi ice, and torn tbe nlmbleiUpenoa often Is tbe cornerstone of this cheap store. EPSTEIN & HAINES, ' No. 123 North NINTH Street, ABOVE ABCH, 3 1 mwfStrp BKGULATOR8 OF PRICES. 1 LINE!. STORE, Mo. 023 ARCH STREET NEW LINEN MESSES. NEW AND BEAUTIFUL PRINTED LINEN CAMBRICS, V BeceiTed by last Pteamer from Europe. 1869-C0MPETITIW PBICES ! ! UP TOWN-LIGHT EXPENSES I! OUB CUSTOMERS THE tiAINERSlL Goods delivered in all parts of the city oaremily and free of charge. v SPECIALTIES JUST OPENED. Blch Black Silks, Sorter!) Silk Poplins, Spring Delaines and Calicoes, Casslmeres, Table Linens, Napkins, Etc Ladles can ride to oar door frern any part ef tbs city, and we assure tbem li will more tban compen sate tbem In one visit and rurcnase. JOSEPH H. THORN LEY, N. E. Cor. EIGHTH and SPRING GARDEN, IU PHILADELPHIA. JEW GOODS FOR THIS WEEK. COOPER & C0NARD, S. E. Corner of NINTH and MARKET. American Oros Grain Bilks, !. Case 11 4 Hotoenot tMieellncs. Oaie Walcr-ProoU. 1 ana tf'43. Black PopllJ Oaanm.re, fl. Strive Ginghams, Browns. Bines, ate. BUUed rvphns, all colors, 33 cunia, -Corded and Striped Pique. BOdoisnFrlreedTowslt, cheap, 95 oenti, Keat Black Ohrck UlPgUauiS, 37 eeala. Black Batlns,.elM.M to 3. Two lots Spring Bbawis. Cheap Balbrlggan Hosiery ' ; S3 fleets Ublrdngs and Prints. KS pieceajJIoths, C'aaiilms rss. etc. llHxa WATCHES. WATCHES. C. & A. PEQ U I GNOT, Manutteturcrg and Importers, Ko. 13 South SIXTH Gtroot. COAL. WILLIAM W. ALTER, LKIIiail COAL, Also, Lorberry and Locust Mountain Depot, Ko. 867 North NINTH Street, BalowQlrardAvenaa, . ltotUU Offlee,Cftr. SIX! II and HPRIK9 GAR DO. BANESB. ETEiiX lNSTUOMBNT TUAf ulanoa and .Kill have Invented to tMM the heavbig la every degree ol eWne; ateo, Hixr-tM toraj alao, Crandali'g Patent ('ruM'hod, iurriui M any other la um, at P. un.y a'Sl ha u titaiii Ultsi. below Cku wf
Significant historical Pennsylvania newspapers