The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-12-28
NOT ALTOGETHER FAVORABLE.
Proposed Bankers Convention Fails
20 Get Hearty Support,

The responses being received by the
special committee appointed by the
recent joint meeting of the bankers of
this city and chamber OF commerce, to
its letters sent to every banker in the
United States west of the Mississippi,
relative to the holding Of a bankers
convention in this city about the mid
die OF the coming month. are not very
enthusiastic and not calculated TO in
spire confidence in the efficacy of the
u movement. Even the bankers Of the
q city Of Denver, who are usually out
for anything which might work
changes in the present financial ar
rangements, are not receiving the pro-
position with any special favor, and,
lwhile admitting that great good might
doe accomplished by the joint action or
$an western bankers, they venture the
Aopinion that the present Congress
would brush aside any resolutions
adopted by the convention without the
slightest consideration. 1t is still an
open question whether or not the con-
Vention will be held, but the indica-
tons are not flattering.
From Boise City, Ida, comes the
lnly really favorable responses yet re-
jeived. The bankers OF that city Will
attend and are strong believers in the
proposed joint movement. Butte's men
If finance incline to the belief that
pmething might be accomplished but
;one of those who have answered the
circular letter VIII pledge themselves
10 take part in the deliberations OF
The convention, should one be held.
Those of Cheyenne are also lukeTarm.
One and all admit, however, that Teso-
lutions adopted by a convention of
bankers Of the west must have some
effect upon the lawmakers, but they
hold to the opinion that the result
would not be worth the candle. One
of the few decidedly outspoken bank
ers is President Moffat. Of the First
National bank, Of Denver, who sees no
good in the movement. To reporter
of the Denver Republican he said on
Tuesday:
ITO be brief, and at the same time
comprehensive, 1 do not think favor
ably of the scheme. 1t would be of no
Use. The bankers and business men of
Denver and other western cities might
meet the Salt Lake committee and
pass resolutions, or recommend a plan
of currency reform to Congress, as pro-
posed. But what would it amount to?
The result would be simply what it
always has been, whenever the west
has had occasion to make suggestions
TO Congress. That is. Congress would
pass our resolution by with a Whit
of contempt The administration would
call us 'cranks,' as ii has done before.
We would be termed western fanat-
icS;' and the outcome OF II all would
be that we had our trip TO Salt Lake
and our meeting there for nothing.
"Of course, there may be something
more behind the proposals of this Salt
Lake committee than appears from the
letter. If so, then my opinion of the
matter might be changed.
After al, however, there is no hope
for a satisfactory reform of the cur
rehcy (Which means the resumption of
the free coinage of silver so long as
the present administration is in office.
Mr.. Cleveland and Mr. Carlisle are I'M
alterably opposed to the enactment of
anything like a free coinage law; and
what they say goes with the present
Congress. We must look forward to
the next election for our relief. We
must educate our political representa-
tives UP to the point where they will
demand of the next national conven-
tons of our parties the insertion Of
favorable currency planks And then
we must educate our legislators to
study finance more and politics less.
No, sir; ] do not see any advantage
to be gained by a meeting such as is
proposed by the gentlemen of Salt
Lake"