Making speeches otherwise by a politician (7)

I believe the answer is:

oratory

I'm a little stuck... Click here to teach me more about this clue!

'making speeches' is the definition.
'oratory' can be an answer for 'speeches' (I've seen this in another clue). I'm not certain of the 'making' bit.

'otherwise by a politician' is the wordplay.
'otherwise' becomes 'or'.
'by' is a charade indicator (letters next to each other).
'politician' becomes 'tory' (term for a Conservative Party politician).
'or'+'a'+'tory'='ORATORY'

Can you help me to learn more?

(Other definitions for oratory that I've seen before include "Formal speech-making, could be pompous" , "Rhetoric - chapel" , "church" , "prayer room" , "Small chapel for private worship" .)

I've seen this clue in the Sydney Morning Herald.

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