Making a toast can be nerve-racking. And, it’s always especially stressful to decide what to say. It may be a little out of date, but here is some hundred-year-old advice:
Toasts for Dinner Occasions
Since much of the enjoyment of good toasts comes from clever local allusions, it would be difficult to make specific suggestions for dinners in general. Almost any subject, if well handled, will stimulate a good response. Such topics of current interest as the coal strike and the “wet” and “dry” issues, treated with humor and without political bias, furnish unfailing springs of interest.
Local practices and happenings, covert and complimentary allusions to the guest of honor, or to the business or profession of other prominent guests will be in order.
American Cookery (December, 1919)