or abuses, or upon the violent rantings of agitators ignorant of, or willfully blind to, the ethical strides of the past twenty-five years, lashing themselves into a frenzy to fight over again a battle which President Roosevelt fought and won once for all, blatantly reëchoing old war-cries which have become obsolete and irrational-I am well aware that the ears of such as these my "message" will sound fanciful and incongruous, if not hypocritical. You who have heard me will know whether it bears the accent of conviction. I might have tried to be more original, subtle and profound, but then I should have been less truthful. I have spoken not as a preacher, but as a practical man from practical experience. The plain fact is that, notwithstanding the complications and innovations which we have crowded into our lives, the signposts marking the road which leads to worth-while success remain very much as they have been for ever so many years.

I have been in Wall Street for thirty years. My son is just about to enter business. I greatly desire him to succeed. I am giving him no "message" on his way different from the one I have given you.

DARWIN PEARL KINGSLEY

IN HONOR OF CHARLES M. SCHWAB

Darwin P. Kingsley has been president of the New York Life Insurance Co. since 1907. Born at Alberg, Vt., in 1857, he graduated from the University of Vermont in 1881; spent some years in Colorado where he was State Auditor 1887-8, and then came back to New York in the service of the great insurance company of which he is now the head. Mr. Kingsley has long been known as a speaker of force and quality, and his addresses on various occasions have been notable contributions to the discussion of public affairs. He gave this address, as President of the Chamber of Commerce, at a special meeting in honor of Charles M. Schwab, April 28, 1921. Another speech by Mr. Kingsley is given in Volume II.

MR. SCHWAB, GUESTS AND MEMBERS:-In the 153 years of the life of this Chamber of Commerce, its members have met rarely for a purpose such as finds expression in this meeting. Since its first dinner, in 1769, the Chamber has paid particular honors to private men on only four occasions: It gave a dinner to Cyrus W. Field, in 1866; a dinner and reception to A. A. Low, in 1867; a reception to Hugh H. Hanna, in 1900, and it presented a gold medal, at one of the regular monthly meetings of the Chamber, to Abraham S. Hewitt, in 1901. The Chamber has never been prodigal in its testimonials to private men.

We meet to-day to honor a plain but truly distinguished American citizen. [Applause.] I add to the character of our tribute when I say that the meeting itself is a declaration that established character is the very fundamental of society [applause]; that it is something so valuable to the community at large that it ought to be defended by all men at all times against attacks of ignorance or prejudice or suspicion, or what not.

The assumptions and presumptions ought to be always in its favor. In other words, to-day we honor a man, and we re-assert a principle-a principle vital to social progress and vital to business stability.

I emphasize the principle, because but for the attacks of prejudice and ignorance, this meeting might not have been held. That, perhaps, is not particularly to the credit of the Chamber, but it is true, nevertheless.

In essence, the services to the country rendered by our guest of honor to-day, Mr. Charles M. Schwab, were no finer, no more unselfish, than the services rendered by thousands of men and women whose very names are unknown. His services were distinguished for their brilliancy, for their effectiveness, for their extent; but all that might not have inspired this meeting.

When, however, this patriot, this leader, was maligned, when he was assaulted in the very citadel of his life, when men sought to show that, under the guise of patriotic service, he had resorted to questionable practices, a burning indignation burst over the membership of this Chamber. [Applause.] Because of his established character, we denounced the allegation as a slander, and the famous "voucher" on which it rested as either mistaken or mischievous. Every man here felt that, in some fashion, his own character and his own reputation were under assault.

Republics are sometimes ungrateful. We play the game very hard in this city and in this nation; but, as business men, we never forget that the basis of commerce is business honor, that the idea for which this Chamber has stood, and on which it has stood for 153 years, is established character, that the foundation of all business and all society is the integrity of men. Sometimes men break, sometimes they are criminally careless, sometimes they are dishonest; but, in the aggregate of the business in a year in this city and nation, these elements are so small as to be substantially negligible. Our guest of honor was flung into the heart of the World War long before our country was drawn in. He was known as a great executive, as a man who could do things; he was at the head of a great plant capable of turning out the weapons and munitions of Great Britain sought his services; he responded, and,

war.