spense when no information was permitted to be sent from Pekin, and
the diplomatic representatives of the nations in China, cut off from all
communication, inside and outside of the walled capital, were surrounded
by an angry and misguided mob that threatened their lives; nor the joy
that thrilled the world when a single message from the government of the
United States brought through our minister the first news of the safety
of the besieged diplomats.

At the beginning of the nineteenth century there was not a mile of steam
railroad on the globe; now there are enough miles to make its circuit
many times. Then there was not a line of electric telegraph; now we have
a vast mileage traversing all lands and seas. God and man have linked
the nations together. No nation can longer be indifferent to any other.
And as we are brought more and more in touch with each other, the less
occasion is there for misunderstandings, and the stronger the
disposition, when we have differences, to adjust them in the court of
arbitration, which is the noblest forum for the settlement of
international disputes.

My fellow citizens, trade statistics indicate that this country is in a
state of unexampled prosperity. The figures are almost appalling. They
show that we are utilizing our fields and forests and mines, and that we
are furnishing profitable employment to the millions of workingmen
throughout the United States, bringing comfort and happiness to their
homes, and making it possible to lay by savings for old age and
disability. That all the people are participating in this great
prosperity is seen in every American community and shown by the enormous
and unprecedented deposits in our savings banks. Our duty in the care
and security of these deposits and their safe investment demands the
highest integrity and the best business capacity of those in charge of
these depositories of the people's earnings.

We have a vast and intricate business, built up through years of toil
and struggle in which every part of the country has its stake, which
will not permit of either neglect or of undue selfishness. No narrow,
sordid policy will subserve it. The greatest skill and wisdom on the
part of manufacturers and producers will be required to hold and
increase it. Our industrial enterprises, which have grown to such great
proportions, affect the homes and occupations of the people and the
welfare of the country. Our capacity to produce has developed