The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-12-02
Soon a Formal Call Will Be
Issued for the Assemblage
at Indianapolis. J.
It Is Urged That Uncle Sam Should
Go Out Of the Banking
Business. !.

ton called by the Indianapolis Board of
Trade, which finished Its work to-day.
The formal call for the general conven-
ton will be issued in few days by a sub
committee of ind Annapolis delegates
At 2:10 P. NJ. Justus q. Adams, president
of the Indianapolis Board of Trade, called
the conference to order, and Secretary
Smith called the rolf of cities. President
Adams then read an address, in which he
stated, in view of the recent election. the
people want a stable currency, and with
such an end in view the Board of Trade
called the conference.
He limited that the retirement of the
greenbacks is step in the right direction.
President Adams said further:
within the last year the people of this
country have shown that they are OPP
posed to a cheap and fuctuating dollar of
an uncertain value and that they are not
disposed 10 follow untried paths that lead
to business unrest or new departures in
financial theories that would only end in
National dishonor and deprecated cur
rency. We must not take this over
wheiming expression of the people, how
ever, as final and piete settlement
OF the issues involved nor as an unques-
toned acceptance of our present none
tary system, but rather as protest
against step backward. Between the
lines of the returns OF the recent election
there is shown pronounced public senti-
ment favoring currency reform, with an
evident purpose on the part of the con-
sentative and reflective men to examine
into our National finances and remove,
with the least possible delay, whatever
weakness or defect that may appear.
Different views are entertained as to
the method of procedure and details of
plans in the matter of currency revision,
but after our grievous and costly expe-.
rience we are forced to the conclusion
that the time has now arrived when the
Government must either discontinue the
banking business with its expensive and
complicated system, or go into 1t on
broader, more comprehensive 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 on safe and sound
basis who or which has demand notes for
millions of dollars in existence and circu-
lation, which notes are liza Bile in period
the counter for REDEEM ption and when SO
redeemed are reissued, thus acting as a
standing menace to the Government re-
serve and a continual threat 10 the trade
and business Of the country, causing dis
turbance and unsettled values of every
character.
Politicians are proverbialIy .imfd. even
to the verge of cowardice, and are often.
'indisposed to consider economic questions
or matters of National policy until sup
ported by public sentiment, but whep that
sentiment is crystallized and given definite
shape by the commercial bodies and busi-
ness men of the Nation it becomes a moral
force and reorganized power which our.
lawmakers will not ignore or refuse to
heed. 1t would be safe to predict that our
National Congress would receive the we'll
matured, fully considered and practical
Recommendation OF the active successful
men of affairs who are in touch with the
trade and commerce of the country IS an
authoritative declaration favoring recon-
struction of our financial methods and
system and give it the thought and atten-
ton its Importance demands"
Upon motion of Delegate Smalley of st.
Paul each commercial organization pres
ent was allowed three votes. Ex-Governor
Stannard of Missouri was made perma-
nent chairman. Secretary Smith of In
dianapolis was made perm anent secretary.
Mr.. Smalley offered a resolution to the
effect that call be issued inviting repre-
sentatiyes of commercial bodies of cities
of the United States OF over $4,000 inhab-
q RI q Not al
be held in indianapolis In 1897 to discuss
the financial question, to offer remedies
to Congress or to advise the appointment
of commission to prepare proper RENE
dies.
Delegate Tanner of Indiana presented
an amendment to that portion of Mr..
Smaliey's resolution with reference to the
representation Of the various cities. Mr.
Tanners amendment recommended q REP
resentation according to the population of
1880 of cities of 5000 and ever to be repre-
scented. which would make convention
OF about 1250delegates. The amendments
were accepted by Mr.. Smailey, and it was
referred to subcommittee which was
appointed to consider and report upon it,
Aitorney-General Miller and John r.
Wilson. both of Indianapolis, addressed
the conference at some length.
At the close of Mr.. Wilson'S address
Mr.. Smailey of St. Paul offered q resolu-
ton calling a National convention. A
difference arose over the method of repre-
sentatlon. and the question was finally
referred to committee composed of If.
E. ingalls, of Cincinnati, II. II. Hanna of
indianapolis, f. T. Roots of Connersville,
Z. V. Smalley of st. Paul and Mr.. Klaus
man of Chicago.
The committee reported resolution
declaring it the sense of the conference
that. a general convention of commercial
bodies be called at Indianapolis on Janu-
airy Q, for the purpose of suggesting such
legislation as may be necessary to place
the currency system of the country upon
sound and permanent basis. The de-
tails OF representation were left to an
executive committee.
This executive committee formed a SUBJ
COMMITTEES OF Indianapolis delegates who
VIII issue formal call in a few days.
This executive committee met to-day ana
adopted the following basis OF represen ia
ton: One delegate of cities from 5000 to