BANQUET. 319 



notions or prejudice. We must not expect to arrive at a solution of the problem of our mer- 

 chant marine by thinking it cannot be touched except in terms of complete respect for the great 

 doctrine of protection, or that it cannot be touched without complete respect for the para- 

 mount rights of the mid-western shipper; it is a problem, in the solution of which we should 

 go to nations who are proficient, with open minds and without prejudice, and learning the 

 lessons of their experience, apply them with courage and scientific purpose to our own par- 

 ticular problem, and in that way I believe we can solve the problem. (Applause.) 



The President : — Had the earlier part of Mr. Colby's otherwise most felicitous address 

 been submitted to the presiding officer in his capacity as censor, it might have been abbrevi- 

 ated. I will not deny, however, that it is very pleasant to have nice things said about one 

 occasionally. I therefore beg to be permitted to express my appreciation of the gracious 

 terms in which Mr. Colby referred to a certain, period of my public service, no matter how 

 undeserved those references may be, and beg also to thanl? my colleagues and associates for 

 the kindly way in which they received them. 



We are going to effect a little transposition in the toast list. The members of this Soci- 

 ety are so' popular that we are never sure we have their engagements quite nailed down. In 

 this case, one of our principal speakers is compelled by official duties to take an early train 

 out of town. It is needless for me to tell you anything about him. If I told you all I know 

 about him, you would not go home until long after morning. Suffice it to say he is a charter 

 member of this Society, has stood with us in good days and evil days, and is loved by all. 

 I have the great pleasure of presenting to you Rear Admiral A. P. Niblack, who will respond 

 to the toast "The Merchant Fleet in the War." (Applause.) 



