The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-06
BIG SOUND-MONEY CLUB
EMPLOYEES OF c.. III. & ID. ORGANIZE
TO WORK AGAINST SILVER.
Club Has 1O3 Members, and More than
Half Are Democrats-Other
Political Matters.

The employees of the c., H. & D. railroad
met last night and organized a nonpartisan
club to be known as the c., II. & d. Sound
money Club. The meeting was held in the
roundhouse, near State avenue, in room
formerly used for a machine shop. 1t has
been provided with seats and platform and
makes very comfortable place OF meet
ing. AS the name signifies, the club is ex-
clusively for the employees of the c., H. &
d. road. A great interest was shown in
the movement, and the first meeting was
an enthusiastic success. When the mem
bership roll was passed around for sigma
lures 103 men attached their names and be-
came members. OF this large membership
the per cent of Republicans and Demo-
Gratis is about the same, with the balance
probably on the Democratic side.
After the formal organization last night
LuciIs 3. Swift addressed the club at some
length Oh the question which prompted its
organize ton. He said he had not Leen
much of partisan for number of Years
past. JIG had voted for Cleveland, and lad
never been sorry for the fact. He intended
he said, to vote for Mckinley this time, not
because Mckinley was the Rep tb!ican
nCminee, nor because of any particI, ar
qua !ities of the man, but because OF the
pattern upon which he stood. He said he
did not intend to eulogize any candidafe,
but to talk upon the money question.
Mr.. Swift then proceeded to answer
some of the claims of the silverites. He ex-
ploded the claim that more money would
make prices higher by referring TO trance
and Germany. In France there is S36 in
circulation per capita, and In Germany SIS,
and yet prices in the two countries are
about the same. He said there was needed
t.
carry on the trading, and when more was
added it was superfluous. He then showed
that 80 per cent. of the business of the
United States is transacted on the credit
system; that is, by checks and drafts, and
that more money than is at present in cir
culation is not needed. AS example of
what might result from the issuing of fiat
money, Mr.. Swift cited the case of con-
tinental soldier in 1884, who was paid $685.,
333. SO for months salary. There was due
him just $50. SO, and it was necessary to pay
him one thousand times that amount in the
inflated printing-press paper of the time.
The money was finally absolutely refused
by the people, and the holders of it were
the losers. Another case he took from
Mrs. Jefferson Davis's book on the life of
OF soldier of the Confederacy, one Item
Is given where 81 was paid for a suit of
clothes.
The argument that Popocrat Bryan is
making to farmers that, because they can
sell wheat now for only one-half what it
was worth twenty years ago, they may feel
clear in adopting a plan which
Will permit them to pay their debts in mon
ey worth only half as much as it was when
they borrowed it, Mr.. Swift attacked by
citing the example of the aluminium pro-
Queer Ten years ago he said this metal
was worth So a pound; but now improved
methods for separating it from the clay
in which it is found has reduced it to so
cents a pound. Would it be fair" asked
Mr.. Swift, for the aluminium producer to
pay his creditors only one-eighteenth of
what he owes because the value of his prod
uct has fallen to that extent?"
Mr.. Swift took UP many of the arguments
of the silver men and answered them in
He received the closest attention during
the hour and half which he talked and
was loudly applauded. The election of Off
GERS for the new club resulted as follows:
President-George w. Corbery, book
keeper at freight Office.
First Vice observation-disclosures M. Corners,
train dispatcher
Second Vice President-A. L. Langley,
foreman in freight house.
Third Vice President-Jerry Foley, Sec
ton foreman.
Secretary E. Newsome, chief clerk to
Superintendent Galloway
TreaSurer-ThomaS Whitson, general
The club decided to hold it's meetings reg
ularly once week and Saturday night was
chosen the time. At the next meeting
the constitution and bylaws will be
adopted.