Mr. Mayor and Fellow-Citizens : Accept my thanks for this flattering, this generous welcome. To be thus remembered at a moment like this, amidst the heartfelt rejoicings not only of the thousands who dwell in this proud city, but of the multitudes who have poured in from the surrounding communities, demands and receives my warmest gratitude. You have well observed, sir, that these multitudes have joined in this glorious pageant, not as curious spectators, but rather as joint owners of the great work whose completion we this day celebrate. It is indeed the triumph not only of the city but of the country at large. Its results reach far beyond the narrow confines of the metropolis. An achievement like this, which casts a mantle of protection over the commercial store-house of the continent, may indeed be a subject of felicitation for the whole American people. We have this day enjoyed the spectacle alike, rare and sublime, of a vast community uniting in one common emotion, called forth by the performance of a great act in the mighty drama of a nation's history. If the immortal bard spoke truly of individual man when he said, "All the world's a stage, And all the men and women merely players ; They have their exits and their entrances, And each man in his turn plays many parts." how much more august the spectacle to him who meditates on social man playing his various parts upon " the broad and universal theatre of nations," and amid the shifting 76 scenes of human society. And such a spectacle is this day presented. We celebrate a work, commenced and completed indeed within our day and generation, but extending its results far into the lengthening vista of succeeding ages. I will not attempt, sir, to embody the emotions excited by the event, nor even to depict the feelings of pleasure awakened by the physical change which has stolen over the city of our pride and affection. A new feature has been stamped upon the face of our metropolis. But yesterday it was the dusty trading mart, unattractive and unadorned to-day the pure mountain stream gushes through its streets and sparkles in its squares. To the noble rivers with which it was encircled by Nature, is now added the limpid stream brought hither by Art, until in the words of the Roman poet, alike descriptive and prophetic, her citizens exult, " inter fluminanota Et fontes sacros." But it is not for the purpose of dwelling on the grandeur of this noble work,-or even its manifold and beneficial influences upon the health and happiness of a vast population, that I have risen, but rather to draw from the occasion whatever of instruction it suggests. I would then venture to remark that this stupendous aqueduct, and these splendid fountains, so worthy of being enjoyed, are equally worthy of being paid for. They owe their very existence to that mighty engine of modern civilization public credit. With borrowed money they have been built. Is there one among us " with soul so dead," as to doubt that this debt will be paid to the utmost farthing ? Is there one among this assembled multitude who would enjoy the benefit, yet basely shrink from the burthen ? The glorious work yet remains, manfully to meet, and punctually to pay, the debt which has been so wisely, so beneficently incurred. Who will venture to predict that this sacred duty will not be fully performed 1 Who can believe that the foul blot of repudiation will ever spread itself over the pure, untarnished credit of this high-spirited community ? Were this possible, the massive walls and lofty arches of this noble structure, now the city's pride, would stand as monuments only ofher degradation and shame. It is not, sir, that I believe it possible thatunder any circumstances or under any temptation, our city or ourstate could fail for a moment to maintain its unsullied public faith, but rather that it seems peculiarly proper on this occasion of rejoicing, to declare our firm belief that the debt incurred for the public works, not only of this city and this state, but of all ttie American communities will be, as it ought to be, paid to the utmost farthing. It is true, sir, that in some mis. guided portions of our country, breaches of public faith have occurred, injurious to the national character and dangerous to public morals ; but I cannot doubt that each and every of the defaulting communities which shall steadily and manfully persevere to the final completion of its works, will find in the resulting benefits, ample means for redeeming the faith plighted to the public creditor. It is in this point of view that the completion of the costly structure we this day commemorate, is replete with encouragement and instruction. Sir, let us for a moment suppose that the Municipal Legislature after incurring a heavy debt, had, in a moment of prejudice, passion, or fear, before the completion of the aqueduct, suspended its further construction. Could we imagine a spectacle more degrading than the dismembered work lying in fragments throughout its length of forty miles, from the Croton "Lake to the confines of the city ? Who could then be found " so poor to do it reverence," and who so sternly virtuous, as to submit without complaint, to the taxation which such folly would render necessary ? Let us then adopt as a cardinal maxim in the conduct of these great enterprises, that benefits must be made to keep pace with burthens ; in a word, that works once commenced, must be steadily and perseveringly prosecuted, and we afford the surest guarantee for the preservation of public faith. The Croton aqueduct is but one of many works of physical improvement, constituting portions of an extensive system, commenced in a season of great prosperity, and all like this tending to develope the resources and promote the honor and welfare of the country. Why is it, that while public confidence has forsaken all others, it has crowned the consummation of this ? Can the cause be mistaken ? Is it not that enlightened forecast, and steady, unflinching perseverance have carried this work to its destined end? The mingled emotions of pride and joy which have filled the bosoms of the vast multitudes this day assembled, afford but a foretaste of the feeling which will be kindled when our whole system of public works shall be brought into beneficial operation. With this bright example to encourage and lead us onward, shall we be told that we have not the ability to proceed further ? Away, then, with unmanly despondency ! Our State possesses resources and revenues, sure and unfailing, equal to the support of her government and the payment of all her existing debts and I here proclaim, that without embarrassment, or cause for embarrassment, she could with the expenditure of a sum but little exceeding that which the city of New York has expended on this aqueduct, complete to the utmost mile, all her unfinished canals and railroads. If the city, with three hundred and twelve thousand inhabitants, can expend on a single undertaking twelve millions of dollars, cannot the State of New York, with two and a half millions of people, and comprehending within its limits this very city, sustain the further burthen of seventeen millions, required to finish works now in progress ? The proposition demonstrates itself. We want only time, and not much of that. Let us dispel, then, the clouds which obscure our vision, look at the brightening sky and put forth every energy and submit to every burthen, even to each citizen's taking the spade in his own hands to complete the New York and Erie, and the New York and Albany Rail Roads, the two unfinished lateral Canals, and the enlarge, ment of the Erie Canal. One more reflection and I shall have done. This aqueduct, like all our other public works, was undertaken not only for the present but for the future. Its capacity is graduated not to supply the wants of the present population of the city, but to meet the exigencies of the million, who, within half a century may be congregated upon Manhattan Island. Shall that million be allowed to plant here their hopes and their homes ? That result depends on the completion of the public works of this State, and those of the communities with which we are connected. There are other Atlantic ports besides New York, other Rivers besides the Hudson, other Canals and Rail Roads besides our own, other governments besides the City Councils I address, and the Legislature of our State ; and although the trade of the continent now flows in our channels, it has not worn them so deeply that it may not yet be diverted. Believe me, fellow-citizens, that I speak for no temporary effect and with no personal motive. I have reason to love the State of New York, not merely like all her sons, but I owe her a debt that few are ever permitted to incur. If, short of Heaven, I have an object paramount to her welfare and honor, I know it not ; and if I have a thought, feeling> or emotion inconsistent with her best and highest interests, may this right arm drop off and may this tongue forget its cunning. With pride which none but a Citizen of the State of New York can know, I offer to this vast asssembly this sentiment : THE CITY OP NEWYORK One American Community, which through a trying crisis and amidst discouraging embarrassments, has prosecuted the system of physical improvement, at the same time maintaining its credit and completing its works. The company soon