The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-09-17

Indianapolis. Ind, Sept 16.-Hugh
Hanna, chairman OF the monetary eX-
ec1tive committee, today announced
the completion Of the commission, ac-
ceptances having been received from
Louis A. Garnett of San Francisco and
j. L. Laughlin of Chicago. Professor
Laughlfn is one of the best known po-
litical economists of the country and
during the past few years his writings
upon financial questions have attracted
worldwide attention. He was for many
years president of the Manufacturers
Insurance company Of Philadelphia
and there made a record as careful,
conservative and successful business
man. He left this position to take the
chair of political economy in the Chi
cago university some years ago and
has since been engaged in that work.
Mr. Garnett is regarded as the most
eminent authority on the Pacific coast
in matters of finance and currency.
He organized the service of the San
Francisco mint and spent many years
in it. At the close of this service he
spent some years abroad in travel and
study of financial and economic Ques
tions. Returning TO San Francisco he
organized the great reduction works
known SIS the Selby smelter, with
which he has since been connected. He
has made some very valuable contri-
buttons to the literature of finance and
is much consulted by the large business
interests of the Pacific slope. Neither
he nor Professor Laughlfn are men Of
wealth, and in consenting to serve upon
the commission, none of whose mem
bers are compensated, they make a
considerable personal sacrifice.
THE MEMBERS NAMED.
The commission as completed by
lows: Ex-senator George T. EdnundS
Of Vermont, Charles S. FairchiId Of
New York eX-secretary of the treas
ury; c. Stewart Patterson of Philadel-
phia, who was president of the none
tary convention last January; J. W.
Fries of Salem, n. c., at the head of the
great cotton industry that bears his
name; 7. G. Bush of Admission, Ala
president of the Mobile & Birmingham
railroad, and largely interested in iron
in Alabama; George e. Luston of st.
Louis, retired manufacturer; W. B.
Dean Of st. Paul, wholesale hardware
merchant; r. r. Taylor of Fort Wayne,
lawyer; Louis A. Garrett of San Fran
cisco, Professor J. L. Laughlin of Chi
cago and Stuyvesant Fish of New
York.
JUST SO HAPPENED.
While no attention was paid TO the
political leanings Of the men chosen
for the commission it happens that it
contains six Republicans and five De-
mocrats. There was, however, much
care given to the question of geogra-
phical representation and the distribu-
5iOn Of the commission in different lines
of business Senator Edmunds was
taken as a representative of the coun-
try at large and of the other members
of the commission, three are from the
r ! I.
Pacific coast, one from the northwest,
one from the southwest and two from
the central west. The commission has
been called to meet at the Arlington
in Washington, Sept. y. A can has
been issued for the executive commit
tee to meet at the same time and place
and il is eSenected to begin the work
for which the commission was appoint
ed at once. It Will make a thorough
investigation OF the currency question
i'm all its phases. The executive COM
mission will bring before it experts and
historical and statistical data gathered
from all parts of the world, as well as
a great many popular suggestions that
have been received from individuals
and organizations throughout the coun-
try.
THE DEAR PEOPLE"
1t is the desire of the commission and
VHl9 executive comm tee that the people
should contribute whatever suggestions
of evidence they have upon the sub
ject and all such matter mailed TO the
monetary commission at Washington.
VIII be given careful consideration.
The monetary convention, out of which
the commission grew, laid down three
points Of sound finance and upon This
platfrom the report Of the commission
to congress Will be based. The pFin-
ciples contained in this declaration
We're that The present gold standard
should be maintained. That steps
should be taken to insure the ultimate
retirement of all classes of United
States notes by q gradual and steady
process and so as to avoid injurious
contraction of the currency or disturb
ance Of the business interests of the
country, and that until such retirement
provision should be made fer a separa-
ton of the revenue and note issue de-
partments Of the treasury, and that a
banking system be provided which
should furnish credit facilities 10 every
portion of the country and a safe and
elastic circulation, and especially with
a view Of securing such g, distribution
of the loanable capital of the country
as VIII tend TO equalize the rates of
interest in all parts thereof.
Tt is probable that Senator Edmunds
will be chosen 10 preside over the com
mission, A force of secretaries and
clerks sufficient TO do all the clerical
work will be provided by the executive
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