The Providence news. (Providence [R.I.]) 1891-1906, 1897-01-13
THECONFERENCE
Big Gathering at Indian
apOliS Meeting.
Business Men From Many
Parts of Country Present.
Remedies for Financial Evils-Sev-
eral Speeches Made.


at that time there was seated in the
auditorium over 800 delegates. repre-
sentlng business interests that run up in
value into the hundreds of millions. 1t
was fine looking body Of men, whose
object is to attempt reform OF the gov
ernments currency system. The meet.
ing was opened with prayer by Rev. M.
l.. Haines of the First Presbyterian
church. ex-President Harrison's place
of worship. Then Mr.. Hanna delivered
IA brief welcoming address, and Tenn
poraTy Chairman Jacob w. Smith read
the call sent out by the executive COM
mittee Next came the recommended
tions of the committee on temporary Or
ganization. naming L. o. Stannard OF
st. Louis as temporary chairman. Jacob
w. Smith OF indianapolis as temporary
secretary, and w. f. c. Colt Of Indian
apolls as sergeant-at-arms.
In taking the chair, Mr.. Stannard said:
1 desire to thank you for the honor
you have conferred upon me by this call
TO preside over the temporary delibera-
tions of this convention.
Early in December. at the instance OF
the board of trade and the business men
of Indianapolis, preliminary monetary
conference was called to meet here, con-
sisting OF representatives of commercial
organizations of some of the central
western states, and that conference was
composed OF some so business men.
After thorough and rather compre-
hensive discussion of matters under
consideration Ii was resolved to invite
the commercial organizations OF the
fn6 Sgnt 80 lAl.
convention to be held In this city to-
day, to consider matters of Importance
pertaining especially to the financial
policy OF our government. Pursuant to
this action you have here assembled. and
i congratulate youund the country upon
the assemblage of this convention OF
business men to consider matters Of SO
great Importance to the country.
1t is not my purpose on this occasion
to suggest any given line OF policy 10 be
pursued In remedying the evils Of which
complaint has been made, or that may be
suggested here or hereafter. But L may
mention-to my mind-some of the most
glaring defects in our financial system.
In this connection IL Is safe for me to
say that the stability, prosperity and
safety Of our commercial, manufactur-
ipg. banking and agricultural opera
tions depend upon safe, comprehensive
and stable financial policy for our gov
ernment-a policy that may be relied on
to last from one year to another. and
from one political administration to an
other. and to be taken, as far as possible,
out OF the realm Of politics.
The speaker reviewed the financial
policy of our government. which. he
said, was adopted during the war. when
there were great emergencies. The peo-
pie want treasury notes retired. as they
"a n 70 4 he.r toff hs.e
nent. National banks should be al
lowed to issue notes up TO the par value
OF their bonds. He commended the ma
tional banking system, and said in con-
clusion:
/ am sure the banker. merchant, pro-
feSsional man, manufacturer, farmer,
miner, artisan. mechanic and laborer all
have community Of interest in the
cause we are here to promote. In the
language of Benjamin Franklin, I'VE
must all hang together or hang separ-
ate" The country cannot permanently
prosper IL any of the essential interests
are neglected or sacrificed. All legisla-
ton should be for the greatest good OF
the greatest number"
The chairman then announced his Sc
lection for the several committees.
After these committees retired there
were calls for a speech from Charles S.
Fairchild. In opening. he said:
For the frs. time I'm the history Of gov
ernments, great scientific financial
question was submitted to the people for
popular consideration in our last elec-
tion. 1t was a great test: II was a great
test of our institutions, not alone i'm the
way in which IL was decided, because we
the adoption practically of n
tool with which TO condua\ our business.
Other men. at other times IN our history,
have considered similar questions. men
as widely as possible in their
political views. And yet, to them, there
never entered an idea that party section.
race. nationality, or worldly condition
was involved.
After dwelling upon the defects of the
present monetary system, Mr.. Fair
child concluded with these words:
I tell you. before the work Of this con-
vention is finally concluded. the business
world, not only of the United states, but
Of all the world. will be looking az ii and
its result, and ! tell you. gentlemen, if IL
shall demonstrate (as God grant that IL
may noD that there Is within this body
not sufficient wisdom 10 arrive at some
thing wise and conclusive, or IL, having
30 come to n conclusion among your
selves. ii is demonstrated that you are 80
FAR removed in influence from the law
making power that no results come from
{, tell you. gentlemen, you may tremble
For the business and political future OF
your country (Applause)
John II. Irish OF California was next
rallied. Among other things. he said: IL
IS your business to suggest 20 the law
makers the way out OF the difficulty, TO
put simplicity instead OF complexity, TO
conform that system TO the law OF
lnance. ] am aware that we have many
wise men who join us in the accomplish
ms OF financial reform I'm this country.
md who believe. perhaps conscientious
~. that the way 10 strengthen the super
structure is 20 weaken the foundation.
The chairman then called for the re-
port OF the committee on credentials.
There were no contests. The total num-
,or OF delegates whose names have so far
been reported is 27O.
Hon. j. II. Walker. chairman OF the
house committee on banking and cur
rency, said in part:
The prgc. ical question for. this conven-
Son TO consider Is what ought to be done
b. correct the evils made clearly mani
icst. ! answer, we ought not TO be sat-
shed with anything that does not re-
ieve the treasury of the United States |