:--

"High, on a throne of royal state which far
Outshone the wealth of Ormus and of Ind.
Or where the gorgeous East with richest hand,
Show'rs on her kings barbaric pearl and gold,
Satan exalted sat."

There is no less truth than poetry in that last line, for there the
devil sat, and Tom Moore's "Fair Isle of Kisham" has faded from the
visions of the world. [Applause.]

The Spanish merchants grasped the wealthy States of South America, and
held as captives the affluent Incas of Peru and Bolivia. But Spain has
long since retired from her commercial supremacy and the South American
Provinces are left poor indeed.

While every Anglo-Saxon is justly proud of England's greatness in art
and learning, in statesmanship and martial prowess, yet her commercial
history does not always reflect credit upon her foreign trade. Rapacity
so characterized her merchants who composed the old East India Company
that the British Government felt compelled to revoke the charter of that
famous monopoly. Influenced by some of her merchants the guns of her
invincible navy opened the treaty ports of China and forced the opium
trade upon the Celestials against their earnest protests, and in that
protest not a few of the best Englishmen joined.

To-day France and England, Belgium and Holland are contending for
commercial supremacy in the "Dark Continent," which an American explorer
and traveler opened to the foreign trade of all nations [applause]; but,
judging from the past, the sable sons of Africa are yet to learn the
selfishness of commerce.

Happily for us, the United States has been more fortunate because more
honorable in her commercial intercourse with other lands. [Applause.] By
his justice, by his prudence, by his firmness, Commodore Perry [cheers],
our great sailor diplomatist, not only opened to us Japan, that "Kingdom
of the Rising Sun," but secured for America the friendship and
admiration of the Japanese. And there is to-day, awaiting the action of
our nation, a treaty of amity and commerce, drawn by the wisest of men,
the most sagacious of statesmen, the greatest of living soldiers; and
when that treaty shall have been ratified, the United States and Mexico
will be united in friendly intercourse, sweet and pleasant, like the
love of David and Jonathan. [Applause.]

It is a great question whether this country shall repeat the commercial
history of the world, or carry to glorious consummation the noble
sentiment of