The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1897-01-22
MONETARY MATTERS.
The National Conference of BUSH
ness Men at Indianapolis
The Preliminary business Conducted
Addresses of Temporary Chairman
L.. ~. Stanard and of lcrms-
n.nt Chairman Patterson.

INnlANApoLIs, Ind, Jan. i3.-The
natiOnul monetary conference called
at the suggestion OF the Indianapolis
board II trade and composed Of rep
keutatives OF similar organ cations
from al pare, OF the country, assem-
bled iu iomlinson hall yesterday af-
teruoon The arrangement of the
hall was ia general similar TO that for
the gold convention held in the same
place last September.
The convention was called 10 order
at s:S5 o'clock by Hugh NJ. Hanna.
chairman Of the executive committee,
under whose management the ar
rangements for the convention were
made, and VINO originated the move
mcui en- lminaiing in the meeting yes
terday Tie introduced Rev. NJ. l..
Ilaiues. pastor OF the first Presbyte-
rian church, " ho opened the proceed
ings with prayer lie asked that the
result OF the conference might be even
greater and more farreaching than the
projectors even dared hope Tor, and that
the country might be prosperous in
the future as il had never been in the
past
III The name of the executive com
mittec. MIR. Hanna extended cordial
welcome 20 the delegates and then in
troalced Hon. L. @. stanard, of Mis-
sour, - no had been selected as tenn
porary chairman.
hir. Stanard reviewed the steps
which led TO the convention. and then
said:
III is not my purpose on this occasion to
suggest any given line Of policy 10 be pursued
in rcnicdying the evils OF which complaint has
been made or that may be suggested here or
hereafter. But may mentlon-to my mind
some OF the most garing defects IN our imam
ciai system. In this connection 1t Is safe for
me 70 say that the stability. prosperity and
safety of our commercial, manufacturing
banking and agricultural operations de-
pend on safe. comprehensive and
stable financial policy for our gov
eminent "a policy that can be
relied on 10 last. from one year to another and
FROM one political administration 10 another
and to be taken. as far as possible, out OF the
realm % politics.
Confidence Is the foundation on which busi-
ness aud all affairs Of material interest are
butt Tnefe should be enough money TO Dc
the busiLess OF the country ans there should
be no DOUBT about It's character ard no shaking
OF confidence TO take u out and keep II out OF
circulation.
The people OF the United States not only
should have confidence In our financial meth
obs. but ali the nations of the earth with whom
We have commercial relations should have AS
surahcc OF the stability % our financial affairs
80 that they may know on what basis they art
working This j. u great Importance 70 US a.
well q, 70 foreign nations, when we take ints
account that dur NJ the last year we exported
20 foreign countries more than a thousand mil
lion u dollars worth OF surplus IroIucts OF
our sol. ana tue industries of our people, ane
imported lutte more than seven hundred
minioA, OF their products.
..Tho present financial methods Of ourgovcrn'
mont are largely those adopted during the war
whom here we're great emergencies. believe
there Is q very strong ana constantly-lncreas
iug conviction among our people that some
"a thud "a ull be adopted Ter the letremen
OF The United states and treasury notes, ans
that they should not much longer be iOlerates
a. q circulating medium They are cOnstan
menace a. our treasury reserve and 70 the eredi
OF the government and when encroaeh
ments are made upon the reserve
commerce stands Ia fear and trem
bling There seems to be we'll
oenned conviction among business men. from
the experience ~ the past. that there shouls
be 40 notes ia circulation which should not h'
refined and cancelled when their onice ha
been once fGlnllcd. Whether these note
should bc retired at once or gradually, an
not dia posed 70 say, but OF the necessity Q
their retirement 1 think there can be no Ques
.tIon. l would retire them Dy the sale Of loui
government bonds ~ low rate Of interest. !
there can be no better way devised for the
withdrawal from circulation.
While am mentioning some OF the defects
as ] believe, of our monetary system whlc
come t. my mind. would say that 1 see n
reason 'shy our national banking law shoul
not DC 50 amended as TO allow the natlona
banks TO issue notes up 70 the par value OF th
bonds v Mich they hold a. a basis OF their ISSUE
instead OF issuing as they are now compelle
to DO, only 20 per cent. OF the par value Of th
bonds that cost them perhaps lis to i20
Then there is tax Of one per cent. on tn
issue OF national bank circulation. and sc
no necessity for so large tax as this, as
must Ultimately be paid by the borrower.
believe the tax shout be reduced to one-fourt
OF one per cent.
There are many advantages connected wit
thu national banking system OF the countr.
ard this system. believe. might with grei
benont to all interested, be extended by a
loving. under proper safeguards, the establish
ment Of branch banks Ina smaller citi,
with largely reduced minimum Of capital
believe there is no instance record where
.o.s has come TO the holders OF a national bar
notes.
9TH ere are many suggestions OF reform. o.
H. TO withdraw all paper money under the III
nomination OF Si0. thereby forcing larger yo
umc Cf silver and gold to circulate in Tue han
ol The people. and believe this j. well WORTH
OF favorable consideration
Il am sure the banker, merchant, profe
eional man, furrier, mincr artisan. mechan
and lAborer all have community % intere
An the cause we are here 10 promote In /
language Of benjamin franklin We must
haus, together u would not all hang Sc
Dlaicd.
NJ he country can not permanently prooi
II puy IL the essential interests are neglect
or sacrificed al legislation should be Tor
greatest good OF III, greatest number
"wi.h the greatest confidence In your "
doiI and ia your patriotic devotion TO the We
Ia hand. now announce the convention rca
for any business which may be brought
fore u Z
GOV. Stanard's remarks. particular
the recommendation that gre'
backs should be retired; that nation
banks should be permitted 10 iss
notes ~ to the par value OF bonds {
posted 70 secure their payment; u
paper notes Of less than - or
should be circulat ted In the interest