The evening tribune. (Pawtucket, R.I.) 189?-190?, 1897-01-13
TO ASSIST CONGRESS-.
Business Men Meet at Indianapolis to
Consider Financial Conditions.
Nearly Three Hundred Dale
gates In Attendance.
Some Suggestions coAai ed IA Speeches by
Prom nc IL McU.

IhCldnapOilS, Jan. I3.-Snortly aftei
3 o'clock yesterday afternoon H. II
Hanna called the national monetar,
conference To or6er in Tomlinson's hall
AT that time there was seated in the
auditorium over 800 delegates, repre-
senting business interests that run up In
value into the hundreds IF millions. II
was nne looking body of men. whose
object Is to attempt q reform of the gov
ernmentS currency system.
In taking the chair. Mr.. Stannard said
l desire T. thank you for the honor
you nave conferred upon me by This call
to preside over the temporary delibera-
tions OF TINS convention.
Larry IN December, at the instance OF
the board OF trade and the business men
or Indianapolis, preliminary monetary
conference was called to meet here, con-
sisting Of representatives OF commercial
organizations OF some Of the central
composed Of some b mess men.
After thorough s.-.u fa.ner compre-
h"nsive discussion OF matters under
consideration 1t was resolved to invite
the commercial organiza lions of the
United States to send delegates to q
convention to be held in this city to-
day, to consider matters of Importance
pertaining especially to the financial
policy or our government Pursuant to
this action you have here assembled, and
i congratulate you and the country upon
the emblage 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 to be
pursued In remedying the evils of which
complaint has been made, or that may be
suggested here or hereafter. But may
m al my ~ ha
glaring defects in our financial system.
In this connection 1t Is safe for me to
say that the stability, prosperity and
safety of our commercial, manufactur-
ing, banking and agAlcultural 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. 1.-The peo-
pie want treasury notes retired, as they
are menace to the credit of the govern
ment. 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: MAl
1 am sure the banker, l-.erchant, pro-
fessfonal man, manufacturer, farmer,
miner. artisan. mechanic and laborer ali
have community OF interest in the
cause we are here to promote. In the
language Of BENJAMIN Franklin. "we
must all hang together or hang separ-
ate" The country cannot permanently
prosper II any OF the essential interests
are neglected or sacrificed. All iegisia-
ton should be for the greatest good OF
the greatest number"
The chairman then announced his se-
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 first time in the history Of gov
ernments, great scientific financial
question was submitted to the people for
popular consideration in our last cleo
lion. 1t was a great test: 1t was great
test of our institutions, not alone in the
way in which ii was decided, because we
the adoption practically of a
tool with which to conduct our business
Other men, at other times in our history,
have considered similar questions, men
differing 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:
/ 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 at Il and
it's result, and L tell you. gentlemen, If II
shall demonstrate Gas God grant that il
may noD that there is within this body
not sufficient wisdom to arrive at some
thing wise and conclusive, or If. having
SO come to n conclusion among your
selves, 1t Is demonstrated that you are SO
far removed in influence from the law
making power that no results come from
1t. ! tell you, gentlemen, you may tremble
for the business and political future of
your country. (Applause)
John p. Irish of California was next
called. Among other things, he said: 1t
Is your business to suggest to the law
makers the way out of the difficulty, to
put simplicity instead Of complexity, to
that system to the law of
finance. / am aware that we have many
wise men who join us in the accomplish
ing Of financial reform in this country.
and who believe, perhaps conscientious
ly, that the way TO strengthen the super
StTuCtuIe iS W Wctheii the lOufluatlOn.
The chairman then called for the re-
port of the committee on credentials.
There were no contests. The total num-
eer Of delegates whose names have so far
been reported is 270.
Hon. j. ii. Walker, chairman of the
house committee on banking and cur
rency, said in part:
The practical question for this conven-
ton to consider is what ought to be done
10 correct the evils made clearly mani
fest. answer, we ought not to be sat-
isfied with anything that does not re-
lieve the treasury of the United States
q absolutely and forever from any re-
bponsbility for the current redemp-
tion" Of any form OF paper money, and
that at once. We must Danish bonds
from any connection with the monetary
system. Bankers must be allowed to
manage the banking business OF the
as the farmer does the business
Of farming; the woolen mon the wooden
business, and as every other business Is
and Independently OF the gov
other than In the supervision
Of banks, as now. The national bank act
must be made as liberal as IL In possible
TO make IL, consistent with safe bank
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