The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-02
ILLS OF CURRENCY
NATIONAL CONVENTION OF COM
MERCIAL BODIES CALLED TO
SUGGEST A REMEDY.
INDIANAPOLIS THE PLACE
RESOLUTION CALLING THE CONFER
ENCE OFFERED BIZ MIR, Small
LEY, OF ST. PAUL.
PRELIMINARY GATHERING HELD.
Principal Address Delivered by j.
r.. Wilson, Prominent Member
of the National Democracy.

INDIANAPOLIS, Ind, Dec Fifty
two men, representing the boards of
| trades and commercial bodies of six
teen cities of the central West, met this
afternoon in the Century club rooms
at the Denison and issued a call for
a national convention of the CONNER
ciaI bodies of the country, to meet in
this city Jan. g. 1897, for the purpose
of taking action toward securing from
/ congress a remedy for the ills attend
ing the present currency and banking
| system. The meeting was non-parti.
san in its character. Those present at
| the meeting were as follows:
Cincinnati. Chamber Of Commerce-M E.
ingalls,, Herman Cooper. w. Cooper Proc
| tor
Chicago Board of Trade-w. F. Dousman.
r; A. Eckert. P. w Weare.
Cowles, E. A. Angen.
Columbus, O., Board of Trade-Joseph H.
Outhwaite, William E. Burdell, Charles H..
Grand Rapids, Board of Trade-N. A. Fletch-
| er, w. A. Anderson.
Indianapolis, Board of Trade-H H. Hanna.
mercial Club-John T. Brush, Louis Hotweg,
| Herman Lieber.
Louisville. Board of Trade-Augustus E..
| Wilson,
| Milwaukee, Chamber of Commerce. IT
Madgeburg, u. L. Palmer
Minneapolis, Board of Trade-T. B. Walker,
Joseph U. Barnes.
st. Louis, Merchants Exchange e. O.
Stanard, Clark H. Sampson and James Camp
| bell.
St, Paul. Chamber of Commerce.. v.
Toledo, Produce Exchanged. B. Smith.
1t was 2:15 when the roll call was
ordered and j. C. Adams, of this city.
! president of the board of trade. look
the chair. He said:
The Indianapolis board of trade in COM
mon with the business interests of the coun-
| try believe that the result of the recent cleo
! tlon was an earnest protest against the de-
Easement of our monetary system. as we'll
as a positive declaration in favor Of sound.
stable and unfuctuating currency. In fur
therance of these views, the board issued a
call to the boards of trade and commercial
bodies OF what is known as the Central
/ West, inviting them to send deIegates To q
preliminary conference which conyenes to-
day. eieS "
This conference will consider the ad
ylsaDIiity @ OF more extended call for a
larger convention Of the important bodies
| OF the large cities, TO discuss the Question
] OF what ought to be done to cure the
faoicai defects In our monetary system and
II deemed practicable, and for the best in
| terests OF all, to create "a non-partisan com
mission, composed of able, experienced and
fa1r-minded business men. whose duty shall
| be to formulate a plan which will remove
| existing weak spots in our present cumbs7-
some and defective system. place the finances
| OF the nation on sound and adequate basis.
ana prevent the possibility of frequent none
tary disturbances.
Permit me to say, gentlemen. that behind
| this call, in answer to which you have con-
! vened today, there turks no Dlan scheme or
1 policy, by which it is proposed to alter. or
! change our present system on any particu-
lar plan or any special line.
Within the last thirty days the people Of
this country have shown that they are un-
alterably opposed to a cheap and fuctuatirg
dollar of uncertain yalus
We must not take this overwhelming ex-
pression Oh the people as a final and COM
plete settlement of the issues involved. nor
as an unquestiened acceptance of our present
monetary system, but rather as a protest
against step backward. Between the lines
OF the returns Of the recent election there is
shown pronounced public sentiment favor
ing currency reform.
Different views are entertained as to meth
ods OF procedure and details of plans 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 government must either
discontinue the banking business, with its ex-
pensive and complicated system or go into 1t
on broader, better defined and more COM
prehensive scale. The game is not worth the
candle. The burden is too heavy to be safely
borne and no individual, corporation or gov
eInment can conduct business on safe and
sound basis, who has demand notes calling
for millions Of dollars in existence and circu-
latlon, which notes are liable In a period of
stringency and panic to be brought to the
country for redemption, each when so re-
deemed, reissued, thus acting as standing
menace to the government reserve, and
continual threat to the trade and business
OF the country, causing disturbance and un-
settling values Of every character.
The cause Of our trouble is not difficult to
locate; to determine the best course to pur-
sue and apply remedial siegislation that will
provide this great nation with sound uni
form and elastic currency, whether 1t be gold
silver or paper, is the intelligent purpose and
paramount question, which will claim the
best thought and business judgment of the
conferenee, which you are about to consider
the propriety of calling.
A permanent organization was effected by
the election OF ex-Gov. Stanard. of Missouri,
as chairman, and Secretary Smith of the In
dianapolis board Of trade, as secretary w.