The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1878-02-28
A w1CHITAIAN's FINANCIAL SCHEME.
W. c. Woodman Before tbs Boards Of Trade Of
Kansas City and st. Joseph.

lis address DcIOre our pcoPio, ""~
,ursuance of numerously signed Pc
ition from prominent business men OF
his CITY who had heard and weighed
he proposed scheme of national n
,ances, Mr.. w. C. Woodman proceed
ID 10 Kansas City last week where, on
afternoon, before the Board
IF Trade, he unfolded his plan. The
Journal of Commerce, the next day,in
IN exhaustive review, goes over the
entire plan, endorsing it heartily.
Having given a synopsis of the plan
before, it is unnecessary for us. to re-
produce it, but in closing up its edito-
rial that paper says:
"This is merely an outline of the
general principles of his scheme and
does not assume TO give its details
The effect of such a system will be per-
ceived at once by the simplest mind
1t would bring us at once TO easy aud
permanent specie payment, and 1t
would make bonds, gold and silver,
national bank currency and greenbacks
Tae bonds would
be sought as al investment Tor savings
and those of the first series soon fall
ing due, would operate as reserve Tor
those times when money is most need
ed, and would retire from circulation
when not needed. They would serve
many of the purposes of exchange and
could be used as gold in paving debts
abroad, and in the place of letters OF
credit by tourists.
"But more than all this, and better
than all, it would give permanency,s sta
bility and responsibility to our iinan.
cial system, and thus revive the conf
dence of the people, and awake re,
newed activity in commercial ard
manufacturing enterprise. Depression
and distrust would give way to conf
dence and prosperity, and the debt
would become so useful nobody would
want it paid, and We should really re-
aliZe that q national debt is national
blessing. Mr.. Woodman also presented
figures TO show that the demand for
coin created by the maturing of bonds
would not exceed the current receipts
of the Government on the present ba-
sis. but it is easy TO see that the sup
ply would be greatly increased by such
a system, for nobody would then nave
either gold or silver, and it would all
find its way into the Golfers OF the
Government, or the surplus might be
exported and added to the balance OF
trade in our favor without risk of de-
pleting the country.
In another column the Journal gives
full account of the meeting of the
Board of Trade. He was introduced
in appropriate remarks by Col. c. E.
Kearney, the president. AT the close
of the address the following resolu-
ton was unanimously adopted:
Whereas, We have listened with
much interest to the presentation of a
system of national finance by Hon. w.
G. Woodman, President of the Arkan-
sas Valley Bank, of Wichita, Kansas;
be it
Resolred, By the Board of Trade of
Kansas CITY. that we look with much
favor on the system proposed, believ-
ing it would favorably adapt itself to
the pressing necessities OF the times,
and that it aims to place the whole
| fabric of our national obligation upon
sure foundation, to diminish our ln-
terest and to popularize the invest
ment in national funds among our Ia
boring classes.
The next day Mr.. Woodman received
telegram from the st. Joseph Board
of Trade inquiring what he would
charge TO deliver his views to them
Saturday evening. He answered, not
cent. Whereupon they gave him an
earnest invitation to visit their city.
From the Sunday mornings Gazette,
which paper gave an extended account
of the meeting and an entire synopsis
of Mr.. Woodlands views. we clip the
following:
There was a good attendance at the
Board of Trade rooms last night, con-
sisting of the solid business men OF the
community, TO listen to the able and
interesting lecture of Mr.. w. C.Wood-
| man. of Wichita, Kansas, on the ma
tional finances, and the best manner OF
extricatiug the country from the pres
ent financial endorsements. Mr..
| Woodman was introduced to the audi
ence by Mr.. FLOYD, and he immediate
w took hold of the subject under con-
sideration. He referred to ST. Joseph
as a CITY covering hundred hills.rest-
ing upon the reputation of her past
commerce, asserting that st. Joseph,
| in common with other western cities,
demanded fair chance and fair legis-
ton. He said he came TO have plain,
practical talk with plain, practical
men.
AT the conclusion of the address Mr..
Flovd made few remarks after which
Mr.. Davis moved that committee be
appointed to draw up resolution OF
thanks to Mr.. WoodmaU for the adj
dress, and commencing the plans laid
down therein.
Mr.. Floyd appointed Messrs. Davis,
Beattie. Wood, Crosby and Singleton,
and they reported as follows:
Resolred, By the Board of Trade and
citizens of St. Joseph, that we have
listened with the deepest interest to
the address of the Honorable w. G.
| Woodman, of Wichita, Kansas, upon
the financial condition OF the country,
and that we recommend to the consld-
GRAFTON of financiers and our represent
atives in Congress, his admirably plan
ned system of national finance.
Resolved, That we respectfully ten
der him our grateful thanks tor the in
telligent interest he is taking in our H.
nancial condition and cheerfully rec
ommend him to the respectful atten-
ton of any community he may visit.
II. L. DAVIS,
Nj. r. SINGLETON,
A. BEATTIE,
j. S. CROSBY,
Committee.
Mr.. Woodman returned his thanks
and the meeting was adjourned. The
pentleman's address showed that he
had given the subject very careful
study. He is polished writer, a deep
thinker and pleasant speaker. He
leaves Monday.
The Herald uses the following Ian
guage in its Introductory, which indi
Gates the interest taken by that pco-
pie:
William C.. Woodman, Esq, Presi-
dent of the First Arkansas Valley
Bank of Wichita, Kansas, delivered an
able and highly interesting lecture last
evening at the Baard of Trade rooms,
The audience assembled was quite
large, and comprised quite a number
of the members of the Board of Trade
and our leading citizens generally
The address was on national finances
and was very able and exhaustive ar
gument. The interest manifested at
tests how deep and all-absorbing Is the
public feeling upon that question at