The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-12-02
Meet in Indianapolis to Solve
the Money Question.
ADDRESS OF PRES. ADAMS
Will Call Larger Convention
From Principal Clsies.
THE ISSUE NOT YET SETTLED
Attacks Greenb cks as Burden 90
Heavy to be Borne, Beng He says
Demand Notes Which Are
Standing Menace.

Standing Menace.
Indianapolis Ind, Dec. 1,-Ah the
cities invited to the preliminary confer
ence in this city, called by the local
Board Of Trade, looking toward Ma
tional Monetary convention, responded
axcenting two. These were Louisville
and Kansas City Owing to the late
arrival of several delegates, the lnltlal
session was not called to order until
o'clock this afternoon. When - u
Adams. president of the Board of Trade
- fbis civ. called the conference to
order. the following organizations were
represented: Cincinnati Chamber OF Com
merce. Chicago Board of Trade, Cleye-
land Chamber of Commerce, Columbus
Board of Trade. Detroit Board of Trade,
Des Moines Commercial Exchange,
Grand Rapids Board of Trade, Indiana
polls Board of Trade, indianapolis Com
mercial Club, Milwaukee Chamber OF
Commerce. Minneapolis Board of Trade
Omaha Board of Trade and Peoria
Board Of Trade
President Adams, in his address said:
.The Indianapolis Board of Trade. IN
common with the business interests of
this country, believe that the result or
the recent election was an earnest protest
against the defeat of our money system
as well as a positive declaration in favor
Of sound, stable and unfuctuating cur
rency. In furtherance of these views
this board issued a call to the boards of
trade and commercial bodies of what is
known as the Central West, inviting them
to send delegates to a preliminary con-
ference which convenes to-day.
s.This conference will consider the
advisability of issuing a more extended
call for a larger convention of the COM
mercial bodies of the principal cities to
discuss the question what ought to be
done to cure the radical defects in our
monetary system, and if deemed practi-
cable and for the best interests Of all to
create a non-partisan commission, COM
posed OF able, experienced and fair mind
ed business men, whose duty shall be to
formulate a plan which will remove eX-
isting weak spot in our present cum
bersome and defective system, place the
finances of the nation on a sound and
adequate basis and prevent the possibili-
ty of frequent monetary disturbances.
Permit me to say, gentlemen, that
behind this call, in answer to which you
have convened to-day, there turks no
plan, no scheme or possibility behind
which it is proposed to alter or change
/ onr present system on any particular plan
or any special line. Within the last
thirty days the people Of this country
. have shown that they are unalterably
opposed to cheap and fiuctuating dollars
/ of an uncertain value.
1--WE must not take this expression of
! the people as a final and complete settle
ment of the issues involved, nor as an ae-
ceptance of our present monetary system,
T but rather as protest against a step
backward. Between the lines of the re
& turns of the recent election there is shown
pronounced public sentiment fayoring
currency reform with an evident purpose
on the part Of conservative and reflective
men to examine our national finances and
remove with the least possible delay what
ever weakness or defects may appear.
different views are entertained as to
methods of procedure and details of plans
+ in the matter of currency revision, but
after grievous and costly experience we
are forced to the conclusion that the time
has now arrived when the government
must either discontinue the banking bus
mess, with it's expensive and complicated
/ system, or go into it on broader, better
|Xdefned and more comprehensive scale The
game is not worth the candle. The bur
den is too heavy to be safely borne and no
|&individual corporation or government can
conduct business on safe and sound
|Xbasis who has demand notes calling for
millions of dollars in existence and cir
1Ebation. which notes are liable in period
|of stringency and panic to be brought to
the counter for redemption, and when so
redeemed are re-issued, thus acting as a
! &standing menace to the government re-
serve and continued threat to the trade
and business Of the country, causing dis
Bturbance and unsettled values of every
character.
"The cause of our trouble is not diff
cult to locate, to determine the best course
81 to pursue and apply remedial legislation
n that win provide the great nation with
sound, uniform and elastic cur
rency, whether it be gold, silver or paper.
at is the intelligent purpose and para
mount question which will claim the best
thought and best judgment Of the confer
ance which you are about to consider the
propriety Of calling.
"Politicians are proverbially timid, even
r. the verge of cowardice, but when SEN
timent is crystalized and given definite
shane by the commercial bodies and bus
;naes men of the nation, it becomes
4 moral force and recognized power which
s a,,r law makers win not ignore or refuse
.Tbe attention of the country is cen
4ored an this gathering, and well it may
Ia for no movement of recent years has
y an,hodied so much thought, earnestness of
nnrpose and exalted aim and the given
nroinige Of such fruitful results as the
" a..tion you are about TO take
All The conclusion of Sir. Adams spr O.