This growth has brought us into intimate contact with the markets of the world, and in the struggle that is always before us the competition of trade, if we are to hold our own among the world's producers, we should encourage, not hinder, those who, by their energy, their capital, and their labor, have banded together for the purpose of meeting these new conditions—problems which our individual efforts alone can not solve, but which require the concentrated force and genius of both capital and labor.

Incentive for good citizenship would indeed be lacking if these were taken from us—the opportunities for development, the opportunities for the young man to follow in the footsteps of those who have written their names in the history of our country as the great captains of industry.

Success will always follow perseverance and genius. Every heresy, every doctrine which would teach the young man of this country differently, is an insult to the intelligence of our people, and is in the direction of building up a dangerous element in American society which in time would threaten not only the peace and prosperity we enjoy, but our very institutions themselves.

When you have placed before the young man all of his possibilities, you have made it impossible to make of our Republic a plutocracy controlled by the few at the expense of the many. The individual should count for as much as the aggregation of individuals, because an injury to the one will lead to the destruction of the many.

The question of adjusting and harmonizing the relations of capital and labor is the problem before us to-day, and is one which will become more urgent in the future. Its solution must be along those lines of constitutional right which every citizen has been guaranteed.

Every man is entitled, in the prosecution of his work, to the broadest possible liberty of action and the protection of law—of that law which is the outgrowth of necessity and which seeks to encourage and not to oppress. Such recognition can always be secured if there is a determination upon the part of those charged with the responsibility of government to have it. And who is not?

Every man possessed of a ballot is responsible and has the power not only to formulate, but to criticise and punish as well. If the right be properly exercised, an honest and efficient administration of our affairs can always be secured.

The greatest solvent for political heresies, for doctrines which are antagonistic to popular government, is education. To the educated mind there comes a conception of duty which is not possible to the ignorant.

Sixth. Grand chorus.

Seventh. Benediction by Rabbi Leon Harrison: