Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1896-12-05
FOR CURRENCY REFORM
MEN REPRESENTING BOARDS OF
TRADE MET AT INDIANAPOLIS.
Commercial Bodies Asked to Gather
on January > to Suggest
Remedies.

Indianapolis Dec. l. Fifty-two men,
representing the boards of trade and com
n.ercial bodies OF Is cities of the central
west, met this afternoon in the Century
Club rooms at the Denison and issued a
cal for a national convention of the COM
mercial bodies of the country, to meet IN
this city January >, 1897, for the purpose
OF taking action towards securing from
congress a remedy for the ills attending
the present currency and banking system.
The meeting was nom partisan in its char
acter.
1t was 2:10 o'clock when the roll call
was ordered, and c. G. Adams of this
city, president Of the board of trade, took
the chair He said:
President Adams Address.
President ]. c. Adams of the Indian
arolis board of trade in his opening nd
dress said in part
The Indianapolis board of trade. in
! common with business interests of this
| country, believes the result of the recent
election was earnest protest against
| the debasement of our monetary system
| as we'll as positive declaration in favor
| O. sound, stable and unfluctuating cur
! rtncy. n furtherance of these this board
| issued a call to the boards of trade ani
| commercial bodies of what is called The
| central west, inviting them to send dele
| gates to the preliminary conference which
| convenes today. This conference will con-
| slider the advisibility of issuing a more en-
| tensive call for larger convention of
the commercial bodies of the principal
cities to discuss the question of what
| ought 20 be done to cure the radical le-
fects in our monetary system and if deem
ed practicable for the best interests of
all to create Il nom partisan commission
composed Of able, experienced and fair
minded business men whose duty Shall be
to formulate Il plan which will remove
existing weak spots in our present cum
hersome and defective system. place The
finances of the nation on a sound and |
adequate basis and prevent the possibility
of frequent monetary disturbances.
permit me to say. gentlemen that be
hind this call in answer to which you
have convened today. there turks no plan |
sc heme or policy by which it is proposed |
TO alter or change our present system on |
any particular plan or any special line |
Within the last 80 days the people of |
this country have shown that they are |
unalterably opposed to a cheap and |
fuctuating dollar Of an uncertain value |
We must not take this overwhelming |
expression of the people as a final and |
complete settlement Of the issues in |
VolVed. nor as an unquestiOned accent
ance of our present monetary system but |
rather as protest against a step back |
ward. Between the lines of the returns |
Of the recent election there is shown a |
pronounced public sentiment favoring cur
rency reform, with an evident purpose on
the part of the conservative and reflective |
men to examine into our national financ IS |
and remove with the least possible delay
whatever weakness or defects may an
pear. Different views are entertained as
to methods of procedure and details of |
plans in the matter of currency revision
but after our grievous and costly OK
perience. we are forced to the conclusion
that the time has now arrived when the
government must either discontinue the |
banking business with its expensive ana |
complicated system or go into it on broad
er better defined and more comprehan-
sive scale. The game is not worth the |
candle The burden is too heavy to be
safely borne and no individual corporation
or government can conduct business IN |
a safe and sound basis which has to lie
mand notes calling for millions of dollars
in existence and circulation Of which |
notes is liable in a period of strngency
and panic to be brought to the counter
for redemption and when SO redeemed ale
reissued. thus acting a standing men
Sice to the government reserve and d COR
tinual threat to trade and business Of The
country, causing disturbance and unset
tied values of every character.
Cause of Our Trouble.
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 or paper. is the
intelligent purpose and paramount ques-
ton which will claim the best thought |
and business judgment Of the conference
Which you are about to consider the pro-
priety of calling. Politicians are pro- |
verbally timid, even to the verge of cow
arCllce, but when sentiment is crystalliz3d !
and given definite shape by commercial |
bodies and business men Of the nation |
it becomes a moral force and recognized |
power which our lawmakers will not ig- |
more or refuse to heed. The attention of |
the country is centered upon this gather |
ing, and well it may be, for no movement |
y
thought earnestness Of purpose and ex
allied aim or has given promise to such |
fruitful results as the action you are
about to take.
Effected Organizations. |
At the conclusion Of Mr.. Adams speech |
Hugh H. Hama Of Indianapolis was select |
ed as temporary chairman. He made a |
brief speech, in which he said that the |
delegates present We're called together |
for the common public good. The good Of
the American people is the magnet which |
has drawn us here, he said.
When Mr.. Hama had concluded Mr. |
Smaley of ST. Paul moved that each COM
mercial body reported be allowed three |
votes on all business before the meeting |
This was carried.
f. 3. Martindale moved that ex-Gover- |
nor Stannard of Missouri be made per
manent chairman of the meeting. This
was carried unanimously and Mr.. stan
nard conducted to the chair. lie
made brief speech. in which he said that
Indianapolis deserved the gratitude Of
the entire country for its efforts in De
hall of the sound and stable currency
system. a system that should be eliminac-
e1 from politics.
". Fl. II. Miller, ex-attorney general of
the United States, was then introduced
ana spoke Of the country's financial con,
dition.
Address of the Day.
John r. Wilson of this city, who wS.s
secretary Of the national democratic par
ty, then introduced and made the
principal address Of the day. 1t was an
able effort and was warmly appauded.
Wilson outlined the origin of the move
ment discussed the need of currency 1e-
form and why the commercial classes
should take the lead; stated why the
movement was in the right direction, and
then coming to the reason why congress
should welcome such a move, stated:
I'VE believe congress will welcome all
intelligent aid in dealing with the reform
! OF the currency. 1t is unfortunate but
| true that our national congress each year
| exhibits increasing inability to iegls>