The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-12-02

N~Ftf~FtAA " tats AtSA skt3 AAArtsk%a<A 81 N4f~
Century Club rooms al the Ienison ard
issued c0E for national convcnticn
Of The commercial bodies of the country
to meet ia this city January 5. fss7. Cor the
purpose ef taking action toward secur-
Ing from congress a remedy for the Els
attending the present currency and bank
inE system. The meeting was non-parti-
san in its character. II was 40 when ire
roll caA was ordered. and J. &. Adams.
OF this city. president OF the Board OF
Trade. took the chair. lie said:
.-rhe indianapolis Board of Trade. in
common with the business interests Of THIS
country. believes that the result OF the
recent election WAS an earnest protest
against the debas& ment Of our monetary
system, as wen as a positive declaration
IN favor Of sound. stable and unfiaefuat-
ing currency. In furtherance OF this view,
this board issued a call 10 the boards OF
trade and commercial bodies Of what is
known as the Central West. inviting them
10 send delegates 10 the preliminary con-
Terence which convenes toaays This con-
ference VIII consider the advisability OF is
suing more extended call for a larger
convention of commercial bodies OF the
principal cities. 10 discuss what ought 70
ha cone 70 cure the radical defects IN our
money system. and IL deemed practicable
and for the best interests OF all 70 crca te
non-paFtisan commission. composed OF
able, experienced and faIr-mfnded bust
ness men. whose daty il shall be 10 forIna-
late a plan which VIII remove existing
weak spots Ia cur present cnmbersome
and detective system. place the FINANCES
basis. and prevent the possibility OF ire
Queuf monetary disturbances.
Permit me 10 say. gentlemea, that be-
bind this call. In answer 70 which you
have convened today there turks no plan,
scheme or policy BY which IL Is proposed
TO alter or change oSE present system on
Within the last thirty days the people OF
this country have shown that they are
un8itsraply opposed TO 4 cheap and hac-
tnating dollar Of uncertain value. We
must not take this Overwhelming express
sion Of the people az a final complete set
tement OF the issues involved. nor as an
unauestioned acceptance OF our present
monetary system. but rather as a protest
against a step backwards. Between the
lines of the returns of the recent election
there is shown pronounced public senti-
nent. favcring currency reform, with an
evident purpose on the part OF the conser-
yative and reflective men TO examine Into
our national finances. and remove with
the least possible delay whatever weak
ness or defect may appear.
Different views are entertained as 10
methods OF procedure and details of plans
In the matter OF currency revision, but
after our RrfeFnus and costly experience
time has arrived when the government
must either discontinue the banking busi-
ness with rs expensive and complicated
system, or 60 into IL on broader. better
defined and more comprehensive scale.
The game is not worth the candle The
burden Is too heavy to be safely borne.
and no Individual. corporation or govern
menf can conduct business on a safe and
sound basis who has demand notes call
Ing for millions Of dollars in existence
and circulation which notes are liable in
q period OF Siringency and panic 20 be
brought 10 the counter for redemption,
and when so redeemed are reissued thus
acting as standing menace 10 the gov
eminent reserve. and continual threat
TO the trade and business OF the country,
causing disturbance and unsettled values
Of every character.
The cause Of our trouble IL not diff
cult 20 locate, To determine the best
course 20 pursue and apply remedial leg
isiation that VIII provide the great ma
ZION with a sound. uniform and elastic
currency, whether Il be gold, silver or pa
per. IS tie Intelligent purpose and para
mount question that viii claim the best
thought and business judgment OF the
convention which you are TO consider the
proprlety OF calling.
Politicians are proverblally timla even
70 the verge uf cowardice, hat when SEN
tlment IL crystailized aud given definite
shape by the commercial bodies and busi-
Ness men OF the nation. It becomes a
moral force and recognized power. which
our lawmakers viii not ignore or refuse
.sThe attention Of the country Is cen
tered on this gathering. and well IL may
De. for 40 movement OF recent years has
embodied SO much thought. earnestness
promise OF such fruitful results as the
action you are about 10 take.
A permanent orga nixation was effected
hv the election OF EN-Eev. St8nnard. of
Missouri. as chairmsn and Secretary
Smith. OF the Indianapolis Board of Trade.
as secretary.
W. H II. Miller ex-attorney general Of
tAe United States, Was then introduced
and spoke 81 the countries and their mon
etary conditions.
John r.. Wilson. or this city. who vas
secretary of the National Democratic
party. made the principal address OF the
day. u was an ehle paper. and Was
warmly applauded. Mr. Wilson outlined
the origin OF the movement. discussed the
need Of currency reform ard told why the
commercial classes should take the lead
stated why the movement was in the right
direction. and then. coming 20 the reason
Why congress should welcome such aid.
said.
we believe congress viii welcome all
Intelligent aid in dealing witA the reform
of the currency. Lt ts unfortunate. bat
true. that our rational congress each year
exhibits su increasing inability 90 iegis-
late EFFICIENTLY concerning such matters
This Is not due SO mHch 10 the want cf
talrnf in It's r}ember rShip. hut rather 70
the enormous and constantly Increasing
routine bushes. prpvzsleE1oe % party
spirit aud nefnina ftnn pf marty met h0sis
" EEGh Ia Legislation esoT2NuEff ffrre ~ man
covering 20 ottsiu advantage for the next
,-ampatGO. toges aer with tke prevailing
u1e.}e ~ committee sctlen under a set 81
rssies which no one seems able 20 reform. g"
IN coaeiusion. Mr. Wilson outlined The
opposition thr commission would rfeet
q nusgSSggx scstsi svAsG ~ ng13 20 the tNarac-
ter assa composition of the commission
Mg Sngsiis> of - Psui shen introduced
a resolution calling = conference of repre-
s-nsatlees of commercial bodies tu s3l cI-
fies % ever = - inhabitants 20 meet in
Ineiansrc'is Thts brought forta oons'a-
erahse discussion aa 50 the representa-
ton. etc-. ard sae chsir ana1ly appointed
a committee % 6ive - prepare a aropoSi-
tisa. Iase committee reported The follow
tnzs
~Rs~otxes. That q Is the sense - ;his
rerfszeEsss shat . EruerA5 tsSssNe ftcn ~
the rrpFeSs t.stiecs cf tite comm aerclal ha-
aies ct tbe c5arsTT s&aald ssn neta some
ssanvenle1g ti'lis Art place for tne Purpose
~ e4EGaS-5n nE saEh ieE sEatsnn - may ~
tfefe fisstEmeny 5sa He~aesaasTv 80 place t}1e
-..srrencs system 81 the EouHsry lauu 3
s.-rns ard Qs-7uEasfk basis
eNFstteef .FaHz AT faHs 3ttTe caff'Es7f sae
-.,-.zf<sinr 20 ere use-shsr Ernga each q
- sssraneresAt Bodice rsaEsssnte8 lm tA5a
,ssssfersnce ahaN ~ appointed - fHe
rsafr. whirh sssll take caafgs - aud ar
ramKa al ta~ rfRfsnssn p taeFa3ls 8cfss fs.i-
- ~ tAs csN fMts MaE mace fzf a oaa-
,.restsn 80 sAa rsE resae IasfNss ~ EAe aoal-
-..eFrt-s3 hstssa - gre country. tr-'fszsiicz
s'ss. pfsafiHE eHa seaeiak 11g of ae es.-
sss.sts7ssE Is eaENeNf3Nes &alt 8N& BH FHe
g,f.ae..ss..s ess5rS whatever mzS es Ess-cs-