The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-24
JOURNAL. THURSDAY, sEprEMBER a.

ported articles rise in price earlier thar articles
Of domestic production having the same con-
sumptive range, Is because the foreign producer
Is free from the operation of our currency laws.
What he sells now for fl00 sterling he will sell
for flOO after our currency has lost IL per cent
OF its purchasing power, but because OF the
change in our currency the American importer,
who now pays $4e5 for fl00 bill on London,
will have to pay on the basis of the Bland dollar,
1854 g."
In concluding his remarks. Colonel Trenholm
said:
What the country is suffering from is not
dlstrust among the owners of silver properties,
or among the congressional supporters of the
Bland law, or among editors of newspapers who
are ignorant of what they ought to know, but it
is dlstrust among the men whose brains and
capital keep the wheels of trade and industry in
motion. These men should surely be credited
with knowing what will convert their present
dlstrust into confidence If they say the Bland
law renders them cautious, if they tell us they
are letting their money lie at little or no inter
est abroad, or are holding it in gold or govern
ment bonds at home, if they complain that their
mines, furnaces or factories are working far
below their capacity, because they are afraid to
accumulate stocks or to give long credits in view
of the uncertainty hanging over the currency,
surely none can be so unreasonable as not to
accept their statement Then again. il they all
desire the repeal Of that law, if they urge its
repeal in private and in public, singly and in
conventions, If they tell us the repeal of the law
will induce them to forsake industrial torpor for
activity that instead of being cautious they will
be enterprising that instead of keeping their
capital idle, they will feel safe in lending it
freely, not for brief periods only, but for such
terms as business needs indicate, surely none
can doubt their sincerity.
IF these things are so, and they are so, ought
the people at large to halt any longer between
two opinionsa Will they wait, as the Israeites
did on Mount Carmel until fire comes down
from Heaven to indicate which are true prophets
and which are the prophets of Baala
Unless the people become aroused, unless
they take the trouble to inquire for themselves
into this important question and to decide who
to heed, unless they show such intelligence and
understanding in regard to it as will excite the
attention of Congress and dissolve the bonds Of
past affiliations there, nothing will be accom-
plished.
1.-THE banks have done great work, they have
at no little cost and risk kept the question open
for months, and they are still holding it open
against enormous pressure and with little thanks
from the public. Complete the work, gentlemen.
by sending out from this convention your united
voices in a last appeal to Congress and to the
country to save our productive industries, our
internal trade and our foreign commerce from
the immeasurabIe disaster which already casts
its shadow over them"
Mr.. Hague, of Montreal, followed with paper
citing the views OF Canadian bankers.
Logan c. Murray, of New York, then spoke,
1aVorlng the repeal or the BLAND act and recon-
ing all silver gold basis.
Congressman Edward S. Lacey, of Charlotte,
Mich, advocated the repeal of the Bland act
Mr.. Flanagan, of New York, offered reso-
luton calling for the repeal of the Bland act,
and the session then adjourned till tomorrow
The Daily News this evening prints interviews
with many leading business men of the city on
the question, nearly all of whom advocate the
stoppage of the coinage of silver dollars, and
all agree that the question calls for prompt and
intelligent agitation.