The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1897-01-13
MONETARY CONFERENCE
Hundreds of Millions Represented
at indianapolis,
THE NEED OF FINANCIAL REFORM.

hon. Charles s. Fairchild, Ex-seoretary Of
the Treasury, Gives warning Of the Dan-
ger That May Arise from Inaction by the
Lawmakers.
INDIANAPOLIS, Jan. 13-Chairman Hugh
Hanna of the executive committee Of the
monetary conference, called that body TO
order at Tomlinson FALL yesterday after
noon. At that time there was seated in
the auditorium owe 300 delegates, repre-
senting business interests that run up in
value to the hundreds Of millions. 1t was
n fine looking body Of men, whose object
is to attempts reform Of the governments
currency system.
The meeting was opened with q prayer
by the Rev. M. L. Haines, of the First
Presbyterian church, ex- Presideut Har-
rison's place of worship. Then Mr.. Hanna
delivered a brief welcoming address, and
temporary chairman Jacob W. Smith read
the call sent out by the executive COM
mittee. Next came the recommendations
of the committee for the temporary or
ganization naming b. o. Stannard Of St.
Louis as temporary chairman, Jacob w.
Smith Of Indianapolis as temporary score
tary and w. r. c. Colt of indianapolis as
-sergeant-at-arms.
In taking the chair Mr.. Stannard made
q brief speech, and then the various COM
mittees were appointed as recommended
by the executive committee.
After the committees retired there were
calls for a speech from Hon. Charles S.
Fairchild. In opening he said:
For the first time in the history Of gov
ernments a great scientific financial ques-
ton was submitted TO the people for pop
ular consideration in our last election. 1t
was a great test Of our institutions, not
alone In the way in which it was decided,
because we were. considering the adoption
practically of a tool with which to con-
duct our business. Other mon at other
times in our history have considered sim
ilar 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.. Fairchild
concluded with these words:
Before the work of this convention is
finally concluded the business world, not
only of the United States, but Of all the
world, will be looking at it and its result,
and / tell you, gentlemen, if it shall dem
onstrate las God grant that 1t may not)
that there is within this body not suffici-
ent wisdom to arrive at something wise
and conclusive, or if, having so come to a
conclusion among yourselves, it is dem
onstrated that you are so far removed in
influence from the lawmaking power that
no results come of it, I tell you, you may
tremble for the business and political fu-
ture of this country"
John p. Irish, of California, was next
called. Among other things he said:
1T is your business to suggest to the
lawmakers the way out of the difficulty,
to put simplicity instead of completely to
conform that system to the law of finance.
1 am aware that we nave many wise men
who will join us in the accomplishing of
financial reform in this country, and who
believe, perhaps conscientiously, that the
way to strengthen the su"perstructure is
to weaken the foundation.
The chairman then called for the report
of the committee on credentials. There
were no contests. The total number of
delegates whose names have so far been
reported is 270. All parts Of the country
was represented, there being delegates
from 1875 cities and towns.
The committee on permanent organiza-
tion last night reported recommending @.
Stuart Patterson, of Pennsylvania, for
permanent chairman and Evans Woollen,
Of indianapolis, for permanent secretary.
It also recommended that vice presidents
DO chosen, one from each state.