The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-11-24
PERIL TO BE AVOIDED
ANDREW CARNEGIE POINTS OUT A
NEW DANGER TO BUSINESS.
He Says There Is Grave Danger i'm
Tinkering with the Currency, ms
Cleveland May Recommend.

PITTSBURG, Nov. 23.-Andrew Carnegie
the steel king. who has been in the city for
ten days inspecting his great plants, re-
turned to New York tonight. Before leav-
ing he talked at considerable length on the
business outlook. In the course of the
interview he said:
This is not, in my opinion. the time when
any valuable forecast can be made. 1t is
reported we are to have sensational presi-
Dental message looking TO change in our
currency system. No matter whether the
scheme would be better than that which
we have, still the waters would be troubled
and business must suffer. You know that
IL you wish to rebuild your house and live
in IL, no matter how much you are going
to improve j. (and all changes are not inn
provements by any means) you cannot en-
joy undisturbed repose; neither can a ma
ton.
This is one objection to tnkering at
short intervals with any policy tariff or
currency. 1t is bad enough with the tariff,
but 1T is highly dangerous when the money
and currency of a nation are tampered
with. These are the blood of the whole
system, industrial, agricultural commercial,
financial. The richest man. down to the
bootblack on the corner, is vitaiiy affected
BY a change in money. i did my best to
impress upon the powers that be. after the
July panic of 1893, that the Nation, as a
patient. not in position to undergo a
surgical operation, and 1 had hopes that
President Cleveland's usual good sense
would lead him to postpone his tariff
changes until the general health of the
patient was good at least; this advice was
not followed. The patient had a great
shock. the greatest shock that the United
States has ever had. the civil war excepted.
and it is, in my opinion. mistake to look
for speedy recovery.
mo matter what improvements can be
made in our financial system this is no
time for change. 1 do not believe any de-
cided improvement can be made in the sys-
tenn. 1t has worked splendidiy, and one
feature. which is to agitators an objection,
Is really one OF it's decided advantages IL
tenGs to keep wild speculation within
bounds, as it does not expand to suit specu-
lative balloonish gentlemen who cannot ge.
money for the asking, only because they
have nothing upon which prudent bankers
wish to take the risk of lending.
President Cleveland has been as sound
upon money as President Harrison was, and
1 can scarcely believe that he meditates a
message that must temporarily derange the
business OF the country. and this any new
policy must do. General Grants words are
to-day full of wisdom: Let us have peace
1.-The action of Congress is also inn
portant factor. If the country Is to be ex-
cited by threatened changes In the tariff.
no matter If these changes would be ulti-
mately beneficial. which. of course, do
not believe they would be. still they would
disturb the confidence not only OF the peo-
pie at home. but of the capitalists abroad
both OF which are essential elements to the
return of prosperity; therefor, you see
gentlemen. we must wait until the turn oi
the year before any reasonable opinion car
be formed"