The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-12-02
FOR SOUND CURRENCY
Preliminary Meeting Preparing th
Way for a Fig Conference.
MANY BOARDS REPRESENTED
m a Speech MIR. Adams Urges the
Necessity for Joint Action OF
Commercial Bodies to effect
stable system.

representing the boards OF trade and
commercial bodies Of sixteen cities of
the Central West, met this afternoon
in the Century club room al the Deni-
son. and issued a call for n national
convention Of the commercial bodies OF
the country To meet In this cily, Jan.
8, 1897. Tor the purpose of taking action
towards securing from congress a
remedy for the ills attending the pres
eut currency and banking system. The
meeting was on-partlsan In its char
acter.
II was e:i0 o'clock when the roll call
was ordered and c. G. Adams Of this
city. president Uf the board OF trade,
took the chair. He said:
Following Is the speech Of President
]. c. Adams of the Indianapolis bOaIu
Of trade. Mr. Adams said in part:
"The Indianapolis board OF trade, in
common with the business interests of
this country, believe the result of the
resent election was an earnest protest
against the debasement OF our none
tlry system as well as a positive dec
ATatlon In favor of sound, stable and
uriiuctuating currency. In further
ance of these views, this board issued
a call To boards Of trade and CONNER
cial bodies II what Is called the celtrll
West, inviting them to send delegates
to the preliminary conference which
convenes to-day. This conference will
consider the ACCESSIBILITY Of issuing
more extensive call for a larger con-
ventlon OF the commercial bodies of the
principal cities to discuss the question
what ought to be done To cure the rad
ical defects in our monetary system
and, II deemed practicable for the best
interests of all. to create a non-parti-
san commission composed of able, ex,
perienCed and fair-m minded business
men, whose duty shall be To formulate
plan which will remove existing
weak spots In our present cumber-
some and defective system. place the
finances of the nation on a sound and
adequate basis and prevent the possi-
billty Of frequent monetary disturb
ances.
Permit me To say. gentlemen. that
behind this call. In answer 70 which
you have convened to-day. there turks
no plan. scheme or policy by which II
Is proposed to alter or change our pres
ent system on any particular plan or
on a special line. Within the past 30
II days. the people OF this country have
shown that they are uralterably OPP
posed to a cheap and fluctuating dol
lar OF an uncertain value. We must
not take this overwhelming expression
of the people as a final and complete
settlement of the issues involved. nor
"a an unqusstioned acceptance of our
present monetary system. but rather
as a protest against IA step backward.
Between the lines Of the returns OF
the recent election. there Is shown a
pronounced public sentiment favoring
currency reform. with an evident pur-
3 81 nf H.. At
and reflective men to examine into our
national finances and remove. with the
least possible delay, whatever weak
ness 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
our grlevous and costly experience we
are forced to the conclusion that the
time has now arrived when the govern
ment must either discontinue the bank
ing business with its expensive and
complicated system. or 20 into 1t on
broader. bettcr-defined and more com
prehensive scale. The game IL not
worth the candle. The burden Is too
heavy TO be safely borne. and no indi-
vl1ual corporation or government can
conduct business on a safe and sound
basis. who has demand notes calling
circulation. which notes are liable in
periods OF Stringency and panic 10 be
brought to the counter for redemption
and. when so redeemed are reissued.
thus acting as a standing menace to
government reserve and a continual
threat to the trade and business of the
country, causing disturbance and un-
settled values of every character.
"The cause Of our trouble In not DIFF
iicult to locate. To determine the best
course to pursue and apply remedial,
legislation that will provide this great
ration with sound. uniform and elias
tic currency. whether 1t be gold. silver
or paper. is the intelligent purpose and
the paramount question which will
claim the best thought and business
Judgment Of the conference which y0p
are about To consider the propriety of
calling. Politicians are proyerbinlly
tlmid. even 10 the verge Of cowardicr.
but when sentiment Is Crystalllzed into
definite shape by the commercial bod :
les and business men OF the nation, Il
becomes a moral force and a recog-
nizel power. which our Iaw-makers
will not igrore or refuse to heed The
attention %! the country is ccntered on
this gathering and well IL may be. for
no movement ~ recent years has EN-
. hcllf1 80 inuLn tn0ugnt. fdrncStneS-
of purpcss and exalted aim. or has
given promise Of such fruitful results,
as TIE action ycu are about to take. "
AT tn conclusion Cf Mr.. Adams
-peech. Hugh II. Hama of indianapolis
WAS selected as temporary chairman.
he made a tritf spesch in which he
s3td that tho delegates present were
allied together fer the common good.
The good q the American people q the
, magnet which has drawn us here, he
slid WN5n Mr.. Hama had concluded,
Mr. Su1lley 81 ST Paul moved that
Zach commercial body reported he al
+ | lowed three votes on all huEinezs be-
fore tn meeting This was carried. l.,
B. Msrtindt.e moved that eX Governor
+ Stlunard ~ Missouri be made porIn1-
ncut chairman Of the meeting This
: | w1s carried IN ulmOusly. and Mr..
, | Staanafd was cCalu-trd q the chair.
/ He r1de p bri,f speech. In which hc
s9ld int Indianapolis deserved the
[ Gratitude - TN ,ntiie country Tor Us
cfrcrts In o. lIlf q a sound ard stable
currency system. a system that should
4, be ylimiUati from politics.
Permanent organization was effected
/. by tts election ~ oN-C~v. Siau1rd ~
1 . Missouri cs chairman ard secretary
d Smth ~ the Indianapolis hglrd o..
trade rs srcrvtlfl- w. IL. H. Miller