On the morning of the dedication, a parade was held in New York City; estimates of the number of people who watched it ranged from several hundred thousand to a million. President Cleveland headed the procession, then stood in the reviewing stand to see bands and marchers from across America. General Stone was the grand marshal of the parade. The route began at Madison Square, once the venue for the arm, and proceeded to the Battery at the southern tip of Manhattan by way of Fifth Avenue and Broadway, with a slight detour so the parade could pass in front of the World building on Park Row. As the parade passed the New York Stock Exchange, traders threw ticker tape from the windows, beginning the New York tradition of the ticker-tape parade.A nautical parade began at 12:45 p.m., and President Cleveland embarked on a yacht that took him across the harbor to Bedloe's Island for the dedication. De Lesseps made the first speech, on behalf of the French committee, followed by the chairman of the New York committee, Senator William M. Evarts. A French flag draped across the statue's face was to be lowered to unveil the statue at the close of Evarts's speech, but Bartholdi mistook a pause as the conclusion and let the flag fall prematurely. The ensuing cheers put an end to Evarts's address. President Cleveland spoke next, stating that the statue's "stream of light shall pierce the darkness of ignorance and man's oppression until Liberty enlightens the world". Bartholdi, observed near the dais, was called upon to speak, but he declined. Orator Chauncey M. Depew concluded the speechmaking with a lengthy address.No members of the general public were permitted on the island during the ceremonies, which were reserved entirely for dignitaries.