The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-12-02

interests of ali, TO create a nonpart san
commission. composed of able. experieno ed
and fair-minded business men, whose duty
shall be to formulate a plan which will re-
move existing weak spots in our present
cum bersome and defective system, place
the finances Of the Nation on a sound and
adequate basis, and prevent the possibility
of those frequent monetary disturbances
which entail such losses on the business in
tereSts of the land. with the added sugges-
ton that no reform which does not remove
the money question from the domain of
politics would satisfy the people.
Permit me TO say, gentlemen, that be-
hind this call, in answer TO which you
have convened to-day, there turks no plan.
scheme or policy, by which IL is proposed
10 alter or change our present system on
any particular plan or on a special line.
On the contrary, with no project to ad-
vance, the motive that prompted the In
dlanapollS Board of Trade TO announce
their views and set on foot this moveme mt
for revision of our national financial sys-
tenn was Of the highest and disinterested
nature.
NO CHEAP DOLLAR.
within the last thirty days the people
OF this country have shown that they are
unalterably opposed to cheap and fluc-
tuating dollar of an uncertain value, and
that they are not disposed TO follow untried
paths that lead to business unrest, or new
departures in financial theories that would
only end in national dishonor and a de-
preciated currency. They have fully de-
termined that the financial system of the
United States shall not be weakened or our
money debased
On this vital question there is prac-
tically no division of Judgment among the
business men of the country. and, while the
emphatic verdict of the people by the ballot
has dispelled. for the time being, at least,
any immediate dange- of the degradation
of our standard, must not take this
overwhelming expression of the people as
final and complete settlement of the is
sues involved, nor as an unquesticned
ceptance Of our protest against a step back
ward. While between the lines of the re-
turns OF the recent election there Is shown
a pronounced public sentiment favor ng
currency reform with an evident purpose
on the part of conservative and reflective
men to examine into our national finanC es
whatever weakness or defects may appear.
WANT a SAFE CURRENCY.
with the access of information which
comes with education and common sense,
the seventy millions of people, living be-
tween the oceans, are imbued with the be-
lief that they are entitled to the best
money in value, stabiiity and purchasing
power that can be devised by man, while
the Industrial, commercial and agricultural
classes, together WITH those who earn their
living by daily TOLL are deeply concerned
and vitality interested in placing our cur
repcy system on basis that will be
Sate ana adjustable to any con-
dition that may confront us, Withstand dis
aSter and panic without Earring and DIS
turbing the vast business interests of the
country and causing a feeling Of unrest and
apprehension to prevail in the public mind
at every congressional and presidential
election.
Different views are entertained as to
methods of procedure and details of plan
in the matter of currency revision but
after our grievous and costly experience
we are forced TO the conclusion that the
time has now arrived when the govern
ment must either discontinue the banking
business, with its expensive and compli-
cated system, or go into it on a broader,
better defined and more comprehensive
scale. The game is not worth the candle.
The burden is too heavy to be safely borne,
and no individual, corporation or govern
ment can conduct business on safe and
sound basis who has demand notes calling
for millions of dollars in existence and cir
culation, which notes are liable I'm period
or Stringency and panic, TO be brought TO
the counter for redemption. and when so
standing menace to the government re-
serveA and O. continual threat to the trade
turbance and unsettled values of every
character.
CAUSE NOT HARD TO FIND
''The cause OF our trouble is not difficult
to locate.- To determine the best course
to pursue and apply remedial legislation
that will provide the great Nation with
sound. uniform and elastic currency,
whether it be gold, silver paper. is the
intelligent purpose and paramount question
which will claim the best thought and busi-
ness Judgment of the conference which you
are about TO consider the propriety of call
ing:
Politicians are proverbially timid even
10 the verge OF cowardice and are often
indisposed to consider economic questions
or act on matters of national policy unless
supported by public sentiment, but when
that sentiment Is crystallized and given
dehnlte shape by the commercial bodies and
business men of the Nation IL becomes
moral force and recognized power which
our lawmakers will not ignore refuse to
heed. 1t would be safe TO predict that our
national Congress would receive the we'll
matured, fully considered and practical
recommendations of the active successful
men OF affairs who are in touch with the
trade and commerce of the country as an
authoritative declaration favoring recon
struction of our financial methods and sys-
TEN, and give'it the thought and attention
its Importance demands.
Il have thus briefly mentioned the rea-
| sons that inspired the governors of the
| Indianapolis Board of Trade to start this
| incipient movement, the propriety of re-
| stricting the call for the first meeting to
| the trade centers of the Mississippi val
referred to those ali important and over
| shadowing questions which involve SO much
3t TO our tS common country and which clearly
of the land. You will not have the time,
nor is ii expected at this meeting that you
enter into an exhaustive discussion or
thorough inquiry into the relative merits
of the many plans and propositions that
may be presented to you for consideration
| or the probable effects OF certain legisla-
| tion. The indianapolis Board of Trade
| greets you as its guests and feels gratified
at the prompt and cheerful response made
| by the bodies you represent to our request
for a conference of business men.
THE attention of the country is centered
on this gathering. and well IL may, for no
movement of recent years has embodied so
much thought. earneStness of purpose and
exalted aim or has. given promise of such
| fruitful results as the action you are about
| to take.
Our implicit faith in the courage. COM
mon sense and patriotic instincts Of the
| representatives here assembled, together
| with the far-reaching interests supporting
| this movement justifies the belief that the
| you Will make shall meet the unqualified
approval of those you represent"
At the close of Mr.. Adams's address he
called Mr. Hugh Hanna, of Indianapolis to
the chair as temporary presiding officer
and Mr.. Hanna, who was the originator
of the movement, spoke briefly in explana-
tion of it's aims. He said:
1--WE are assembled almost by a common
impulse. a strong sentiment in the public
mind is the magnet that has drawn this
conference together. Election campaigns
are only temporary conditions of intensity
| The great menace to sound business con-
ditions and credits is behind us. All avenues
are open TO conservative commercial! un-
| dcrtakings. The exalted lesson of the
struggle, through which have just
| passed, is the eminence to which American
| sacrifice. Such IL lesson shall not be lost
| A broad minded spirit of harmony for the