Evening star., 1896-12-01
Conference of Commercial Bodies to
Arrange a National Convention.
NEEDED REFORM IN PRESENT SYSTEM
Address by the President Of the In
dianapoIis Board or Trade.
LESSON OF THE ELECTION

INDIANAPOLIS, Ind, December ALI
the cities invited to the preliminary con-
ference in this city called by the local
board of trade, looking toward national
monetary convention. responded excepting
two. These were Louisville and Kansas.
1t was the original intention to hold the
first session at IL o'clock this morning In
the century rooms at the Denison Hotel,
but owing to the late arrival of several
delegates, the initial session was not called
to order until 2 o'clock this afternoon. This
change of program will probably extend
the conference through tomorrow.
When ]. C. Adams, president of the
board of trade of this city, called the con-
ference to order. the following organiza-
tions were represented: Cincinnati cham
ber of commerce, Chicago board of trade,
Cleveland chamber of commerce, Columbus
beard of trade, Detroit board Of trade, Des
Moines commercial exchange Grand Rap
ids board of trade, Indianapolis board of
trade. Indianapolis Commercial Club, Mil
waukee chamber of commerce, Minneapolis
board Of trade, Omaha board of trade and
Peoria board of trade.
President Adams Address.
President Adams said, in part:
THE Indianapolis board Of trade, in COM
mon with the business interests Of this
country. believes that the result of the re-
cent election was an earnest protest against
the debasement Of cur monetary system,
as we'll as a positive declaration in favor of
sound, stable and uniluctuating currency.
In furtherance of these views, this board
issued call to the boards of trade ard
commercial bodies of what is known as
the central west, lnvitin,, them to send
delegates to preliminary conference,
which conveneS today.
This conference will consider the advisa-
b1l1ty OF issuing 4 more extended call for a
larger convention of the commercial bodies
OF the principal cities. to discuss the ques-
tlon what ought to be done to cure the
radical defects in our monetary system.
and. II deemed practicable, and for the
best interests of all, TO create a non-parti-
san commission. composed of able, ex-
perienced and fair-minded business men.
whose duty shall be to formulate a plan
which will remove existing weak spots in
our present cumbersome and defective sys-
tenn, place the finances of the nation ON q
sound ana adequate basis, and prevent the
pesslDIlty or frequent monetary disturb
anceS.
Permit me to say, gentlemen, that be-
hlnd this call, in answer to which Won have
convened today, there turks no plan. no
cial line. VII " spe-
within the last thirty days the peorle
vi Inns country have shown that thew are
aDiy oppOSed 10 q cheaD and 1itr-
'ua1,hs collar OF an uncertain value
We must not take this oyerwhrlnipe
ession OF the people as final and com
ple.e settlement OF the issues involved, nor
as ah uhquesticned acceptance of our pres
eht monetary system but rather as a nro
test against a step backward Retween
.he nnes or the returns of the recent e,ec
lioil tnere is shown a pronounced public
sentiment 1aVorlng currency reform with
an evident purpose on the part Of cons,rva
NV anu TeHectlVe eya ;,,&
national hnances, and remove with the
least possible delay whatever weakness ~.
defects may appear.
Dlherent views are entertained as To
methods of procedure and details of H..
III the matter OF currency revision but af
Ter sr1eVous and costly experience We are
forced to the conclusion that the time ha :
how arrived when the government nrst
either discontinue the bankinp husinoss,
Win It's expensive and complicated system
or go INTO 1t on broader, better defined
anu more comprehensive scale The game
- hot worth the candle. The burden is too
hedEy 10 De safely borne and no individual
corporation or government can conduct
business on safe ard sound basis who ha g
demand notes calling for millions Of dollar re
IN existence and circulation. which notes
are liable IN period of stringency and
panic TO be brought to the counter for re-
demptlon, and when so redeemed are re-
Issued. thus acting as a standing menace
10 the government reserve and continual
'iiA SoI " Tire tIduo anu business of the
country, causing disturbance and unsettled
values of every character
The cause of our trouble is not difficult
to locate; to determine the best course to
pursue and apply remedial legislation thai
Will provide the great nation with a sLund
uniform and elastic currency, whether it
De gold, silver or paper, Is the intelligent
purpose and paramount question which '. ill
claim the best thought and business tudg-
ment of the conference which you are
about to consider the propriety Of calling.
Politicians are proverbally timid even
to the verge of cowardce, but when senti-
ment Is crystallized and given definite
shape by the commercial bodies and busi-
ness men of the nation it becomes a moral
force and recognized power which our law
makers will not ignore or refuse to Iced
The attention of the country is centered
on this gathering, and well it may, for no
movement of recent years has embodied so
much thought, earnestness of purpose ard
exalted aim or has given promise Of such
fruitful results as the action you are about
take