The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1878-02-07
The Lecture on Finance at Eagle Hall Satur-
day Night.

The size and character of the audi
ence that assembled at Eagle Hall,
Saturday evening, TO hear Mr.. Wood
mans lecture on finance shows how
deep and all-absorbing is the public
feeling upon that question at the pres
ent time. The hail was filled with am
audience representing the solid bust
ness intelligence of the community.
Noticeablv was this the fact, and no
less so that in the presence of this
transcendent issue mere partisan feel
ing fades into less than nothingness.
The lecture was. in all respects, well
worthy the occasion. The details Of
an ordinary everyday subject were
handled in such a mastery manner as
to command the absorbed attention of
all during the entire delivery.
Mr.. Woodlands survey of the situa-
ton covered the entire financial field,
and offers a solution of its difficulties,
which seems TO us, and to all whom
we have heard allude to the matter,as
at once perfectly simple and entirely
feasible. His proposition is, in brief,
to refund the Bonded Debt in a Pop
ular Loan, drawing four per cent. in
terest, and, as we understand, to be
offered exclusively to our own people.
He believes that the deposits of saw
ings banks, the school and other funds
of the different States, and the idle
capital of the country invested there
in will absorb the entire amount OF
fifteen hundred millions. We see no
reason 10 doubt this conclusion. Not
to 60 into details, his scheme includes
at least four distinct and excellent
points;
l. The concentration of the Nation
al debt at home, hence the interest TO
be distributed among cur own people.
2. The reduction of the rate of in
terest.
8. The influence it would have in
bringing resumption without further
structure in money matters, as gol.
silver and National notes are equally
receivable for the new bonds.
A. The least possible use made for
gold. thus removing its premium with
the necessity for its use in foreign |
transactions, when gold coupons
would largely take its place.
There are other collateral benefits.
but these strike US as very conspicu-
GUS and safe-evident.
The following preamble and resolu-
tons were reported and unanimously
adopted, as expressive of the sense of
the meeting:
WHEREAS, The financial situation
of our country, which has strewn the
last four years with the wreck of for
tunes and the ruin of business enter
prise throughout our land is such as
10 awaken the gravest apprehensions
of impending bankruptcy to an entire
people unless the causes be promptly
arrested; and
WHEREAS, We hold that public
credit is not to be secured at the cost
of general private disaster, but that
true system of finance win permit
public and private prosperity to go
hand in hand; aud
WHEREAS, We have listened with
attention to the plan presented by w.
c. Woodman. Esq, president of the
First Arkansas Valley Bank, of Wich-
tia, for the rounding of the National
debt in popular loan, and earnestly +,
approve OF the same as the sense OF
this meeting. il is therefore
Resolred. That we cordially Ell
dorse the system proposed by w. {.
Woodman, Esq, for the inIelligeDtI G.
construction OF the National debt in
popular loan and proper adjustment
of the system of currency on well .
defined and enduring basis; that his ]
lucid discussion of matters of finance :
throws a vivid light upon question
of immediate and vital importance 10 /
all; that we regard the plan presented
by him as clearly in the interest of
both the people and the Government.
and we earnestly commend il to the
consideration and support of all
classes of citizens, and particularly to
the National Congress now assembled,
to the end that enduring prosperity r
NAV return TO and remain with both
the people and the Nation.
Resoioed, That our representation
in Congress be provided in some
proper form with the substance of
the proposed system of refunding the I
National debt, together with copies OF $
this preamble aud resolutions, for {
their consideration and such action as I
may be deemed proper in the premises. t
J. II. MEAD, President. i
n \ 4 a. Es .as,I.. Secretaries. i