The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-24

| maiden. 1t is not well enough with the ma
| tional treasury awkwardly performing an
| ONCE which Is entirely foreign to its proper
junction. 1t Is not we'll enough. It Is aoso-
| lutely bad, when the result is pubic treas
ury so expanded In its demand Liabilities IN
| time or profound peace as TO threaten It's
| solvency In case Of war. Thomas Jefferson:
| the putative father Of Democracy. himself
| declared: During the interval between war
| and war all the outstanding paper should be
called In, coin be permitted to flow again,
and hold the field OF circulation until an
other war should require its yielding place
again to the national medium
NO my friends, we are not Justired IN
falling back in supreme indifference to rest
upon perverted maxim. Generals Beaure-
gard and Joseph z. Johnston did that atter
the first battle OF Bull Run, when, Win
fresh columns at their hand they could
have marched on and occupied our capital.
The federal commander after Antietam did
that, since 1t has been shown that the Con-
to interpose any effective obstacle to the
possession of Richmond.
Nor Is agitation to be feared in Its et-
feet on industry or business affairs, II II IS
to be an agitation in behalf of better condi-
tions. We have absolute security that Tor
at least four years no step can be effective
standard or bring dShonOr to the national
credit. Agitation will, therefore. result in
such conditions agitation is the highest
conservatism.
THE ONE THING LACKING.
1.-THE establishment of our currency and
banking system upon more secure founda-
tions is the one thing lacking to the things
which make for a permanent condition OF
reasonable prosperity. In securing this the
pioneer in the West, the laborer in the
mines the toier in the field the mechanic
in his shop, the merchant and the banker,
are all, whether they know it or not, each
in his degree alike interested.
1.-The text to which l was called to speak
ID
When? BY implication am absolved from
all obligation to discuss the how, or to go
into details of methods to achieve currency
reform. This is a great relief to me Tor two
reasons:
"First-It might be injudicious to antici-
pate here and now what 1T will be my OIL
cial duty to set forth a little later on.
'Second-It would be to enter at once the
field of greatest controversy, where douDtS
and fears are most numerous, ana where
passions and prejudices have their freest
play.
form. Many are willing to have reform,
anybody's Kind, if it can be had without
struggle and Tree of cost. Others, seeing
that the path of virtue leads to serene anu
reSLful planes, are willing TO walk IN the
way of it, even at the cost OF present pain
and sacrifice.
",rhe first group embraces the radicals
| and taddiStS of every kind VINO Will toll
crate no method not individually their own.
| The second group, the Indifferent many,
| pirate reform, but are fruitful only in OBJ
| jectionS. You may retire the greenback or
| otherwise reduce the redundant issues OF
| the national obligations payable on demand,
| but, strange Inconsistency you must not
issue bonds in a time of peace--not even to
discharge sacred obligations incurred IN IN
| war These people ought to inform US as
| to which of the two is the higher wisdom;
| To avail ourselves of conditions favorable
| to the highest credit and lowest interest, 10
put our financial house in order, or to wait
| until another period shall come, when, as IN
| the unhappy days OF 1S6O-6o, we may De
To foo lie n r.
| selves at double interest upon oDllgatlons
| realizing to our treasury only 6O-or 4O-per
| cent. of the face of the contract. Others or
| the same group tell US, you shall not con-
| tract the currency, nor shall you permit
| any substitution in the form of bank-note
| issues With all these limitations, restrlc-
| tons and impossible conditions they re-
| spectfuly submit that they favor reform.
NOW THE ACCEPTED TIME.
1.-THE third group, convinced of the wis
dom of reform-and reform now-and per-
oeiving that in natures order every good
acquired involves some sacrifice made, must
stand together in patient persistency and
work along the line of least resistance for
this, too, is natures order) to secure those
high ends at which they ainl
I'm word, / commit myself to the fol-
lowing proposition: At cost too con-
temptihle for serious consideration, the de-
batable condition of our currency and bank
not theoretically scientific foundations. This
may be secured without any necessary con-
traction of the circulating medium of ex-
change, and with no danger OF an undue
expansion, and, best OF all, this desirable
END may carry in it's enect potential relief
to those districts in the South and West
which, though rich in possibilities of soil
and climate, have been held back, through
the absence of banking capital and credit
facilities Nor will l permit myself to doubt
that in the councils OF our nation wise
craftsmanship, supported and sustained by
the wisdom and value OF a pure patriotism
among our people, will find the way to the
much-needed result.
How fair land! How infinite it's pos
sibilitieS w hat has it not done for the
afflicted and the unfortunate of earth! With
just laws, with institutions conformable to
natural rights, with honest regard TOR hon.
orabc obligations, with a common love for
the common veal, who can prophesy its
future greatness and glory? Standing now
near the close of this fruitful year, rich in
its product of orchard, field and farm, there
comes to my mind the words of one who
said:
Il see in tasseled rank and file the regi-
Ipent of corn;
| Their bending SaberS, millions strong, Sa-
lutte the summer morn;
The harvest fields, as round and red as FULL
4 grown harvest moon,
That fill the broad horizons up with mimic
gold of noon;
count a thousand villages like flocks in
pastures grand,
hear the roar of caravans through all the
blessed land.
| The country graSpS the ripened year and
holds it in her hand.
For daily bread the earth lifts up plain
tive daily prayer,
America, with open palm, makes answer
everywhere
Governor Frank S. Black responded to the
toast, 1.-The State of New York" He, too
was warmly received, and, like the proceed
ing speaker, read his speech, which was fire.
quently applauded. In the absence of Maj.
Gen Nelson A. Miles, Gen. Wesley Merritt
spoke to the toast, THE Army" Commo-
dore Francis M. Bunce spoke for 1.-The
Navy" Mayor Strong was warmly APP
plauded when he arose to speak to the toast,
1.-The Duties and Obligations of Citizen Of
New York"
Daniel c. Gilman, of Johns Hopkins Uni
versity, was the last speaker. His toast
was Commerce, the Child of Science, and
Its Filial Supporter" He paid high trib-
ute to the merchant princes of America and
to their generosity to institutions of learn
iLg. Also their support, as he put it, "of
all things which aim to further science and
wisdom throughout the world
SENATOR AINDSEY'S VIEWS.
He Thinks Lack of Revenues May In
ID