The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-15
WAGON WHEAT, 01C
ACME MILLING CO.,
Old 352 West Washington st.
DANGER IS NOT YET PAST
CONSTANT SOUND MONEY EDUCATION
NECESSARY TO AVERT EVIL.
Report of the Executive Committee of
the National Board of Trade-Uni-
fOrmify of State Laws.

WASHINGTON, Dec. H.-The National
Board Of Trade met here to-day for its
twenty-eighth annual session, Ex-Governor
Stanard, of ST. Louis, presiding in the alb
sence of Mr.. Frederick Fraley, of Philadel-
phia, who has been president of the board
since it's organization in 1868. The execu-
tive committee made its annual report,
which was adopted without a dissenting
vote. On the subject of the currency the
report says:
Probably there is no subject which
is still of such Importance as that of the
currency. While the great uprising in
favor of sound money in 1896 was not with
out it's gooh effect, there is still much to
be desired in the way of a permanent pros
perity, which condition Is mainly due to the
fact that the future of our monetary sys-
tenn is still largely in doubt. Overconfi-
dence as to the continued influence for
good of the defeat of free silver at the last
election is serious mistake. While hard
times are undoubtedly stimulus to un-
sound systems of finance, 1t is a mistake
to suppose that the numerous friends of
such systems will be entirely satisfied by
a return of prosperity. Hard times. which
did not originate the silver question, have
undoubtedly been used by interested par
ties to install false ideas into the minds
of many of our people, particularly our
workingmen and farmers, which have be-
come part of their political belief. A spirit
of unrest and dissatisfaction still exists
among such classes, and there is no evil
dence that among such any great conver-
sion from the free-siiver doctrine has taken
place anywhere in the country. In New
York or Nebraska the opinions of the dis
a.. ocff roll
before the election. The form may have
changed. AS free silver was but form
and natural sequence or the greenpack
heresy, so now the tendency IS TO pecome
a fiat money rather than silver fallacy;
but in whatsoever form 1t shows itself, 1t
has become a general theory OF pubic
k9ncy ana s1 GUnspicT1gS no.iai nartV " To such
the free silver or fiat money question ana
all considerations of currency reform VIII
be made subservient thereto.
'sThe only way to meet it is by persistent
education, for which purpose some or the
sound money organizations have been con-
without very much popular interest or sup
port, and by the adoption OF a sound nnan-
cial policy. including not only coinage put
banking and currency. While our present
system exists there is the ever Impending
danger of a repetition of our late financial
difficulties when the country would be at
the mercy of those who do not have it's
best interests at heart. In the absence Oh
careful attention in the meantime-unlesS
by some unexpected contlnSeilcy-WS Suaii
have an unprecedented degree of national
prosperity at the time of the next general
and presidential elections-we may expect
to see the fiat money issue the issue OF the
campaign"
one of the most important reports pre-
sented and adopted was that of Jonathan
A Lane, of Boston, on the reform OF the
consular service. The report advocated the
extension of the civi-service rules to cover
the consular service. to the end of securing
practical business men in the service rather
than purely political appointees. Another
important recommendation was that here
after importers be compelled TO attest their
invoices before a magistrate of the country
from which the goods are shipped, in addi-
tion to their oath before the United states
consul. In this connection IL is alleged that
several million dollars are lost to the gov
ernment annually, by undervaluation IN
before United States consul not being bind
ing in the country of export and there conse-
uuently being no method of Furnishing those
guilty of this form of deception. 1t was
further stated by the report that MANY of
the largest exporting houses in foreign
countries have their own agents in this
country who connive at this violation Of
law.
on uniformity of State laws. This especially
looks to the unifying of commercial laws
I'm the various States. There is at present
so great variety among the banking laws
and laws relating to commercial paper that
much confusion results in the conduct of
interstate business Several of the States
haV aabrogated the laws relating to days
OF gf. Ae on commercial paper and there are
many Ciher variations which make Ii almost
impossible for business men TO carry on
transactions outside their own States with
out the aid of a lawyer at the other end
of the line.
Of the Torrens bill. which received the in