The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-28
He Discusses Public Questions in an
Interesting Way, and Gives Good
Advice to the People.
CURRENCY TO BE REFORMED
IF THE WISHES OF THE ADMINS
TRATION ARE Needed.
A Delicate, Difficult Problem to Solve
president MckinIey's RecOmmen-
datiOn for IL Commission.

lary OF the treasury, was the guest OF the
business men of Boston at a dinner in the
Tuileries this afternoon. Money was talked
almost exclusively and a number of gold
Democrats were among those who contrib
uted To the symposium. Mr.. Cages recep-
ton was a very enthusiastic one and his
address was keenly listened to. The pas
sage of the tariff bill was touched on as
incidental to what was called the greatest
problem now confronting the country. Sec
rotary Gage held a reception before the
banquet. Congressman William c. Lover
ing. of Massachusetts, presided at the feast,
briefly stating why Boston business men
felt so keen an interest in the national
financial affairs.
Mr.. T. Jefferson Coolidge gave the well
come to Secretary Gage, with a tribute to
the latter's position in financial circles Sec
rotary Gage was then introduced. He said:
Mr.. Chairman and Gentlemen-My pow
erS of expression are quite inadequate TO
proper acknowledgment of the courtesieS
extended to me by you and your people, In
the simplest manner, l must say | thank
you and assure you that the distinction ac-
corded me is most highly appreciated. In
fact it is a distinction in itself to be in
Boston at all, even without the embellish-
ments of your cordial welcome. 1t is es-
pecially SO to man from the West, where
we have not yet become the inher1tors of
a past, rich in historical treasures, COM
nemOraClN0 OF heroic achievements IOr
liberty To every American youth, wher-
ever born If educated even in the rudest
of our common schools, Boston becomes the
shrine of patriotic devotion.
My own earliest impressions were as
sociated with the celebrated tea party and
the battle of Bunker Hill, and my heart
still beats in quicker rhythm as think or
read of the Inspiring story of the early
struggle here. When l remember, however,
that certain general bearing my family
name was on the English side, that he
made himself especially obnoxious to Bos-
ton people and pestered the boys for coast
ing down Beacon hill Of that was indeed
the hilD, 1 wonder if l have any just lot
or part in all your glorious memories or
even any claim upon your hospitality.
THE PERILOUS PAST.
But we cannot live on the history of the
past. The present is making it's own his
tory less bloody, perhaps not so full of
dramatic elements, but equally influential
it may be upon future destinies We
have met here in a period fraught
with it's own interests. Opposing forces
met in November last and contended
bitterly over the most vital of economic
questions While the issue was pending the
profitable arts of industry came to nearly
standstill. Trade and commerce declined
to the narrowest limits, and in a breathless
suspense those who could comprehend the
deep import of the issue waited for its de-
The ballot-magic exponent OF the popular
Will-has recorded its imperative voice Tor
honest money and for liberty regulated by
law 1t now remains to be seen whether
from that decision there is to be any sue
ceSsful appeal. 1t is that that gives IN
terest anxious interest, to the prospective
action of those who clothed with legislative
and executive functions, have II IN ther
power to make secure the fruits OF victory,
or who by failing to comprehend their hlgh
responsibility, may let slip the advantages
so hardly won. Upon the possible doubts
involved in this question men OF enterprise
still hesitate and columns of industry
march slowly with ranks not yet complete
ly filled.
proposition? There ought to be none. There
would be none except for the working OF
that principle of human nature which
coaxeS us to ease after eHort-Whlch IN
duces us to contemplate rather than act
that spirit of inactivity which on more
than one occasion kept the armies or the
Union from annihiliating the enemy. Logl-
cal as the duty of the government seems
to be- do not yourselves suplnely rest upon
the conclusion that it will certainly be per
formed When it rains the roof IS not mend
ed because it rains. When 1t is fair the ROOF
does not leak and the indolent man forgets
it's weakness.
WILL WORK FOR REFORM.
I'VE have passed through a wearisome
storm. The loss and cost of such has been
enormous, but to-day the skies are fair,
and the breeze of prosperity brings comfort
49, ~
to rest and enjoy it? No. That would be
to foolishly wait for, if not invite, further
| disaster in the future. The final answer.
however, must depend on the urgency or
the Indifference of the people. The admin
istrative branch of the government will not
sleep nor rest inactive. Its influence has
been and will be for prompt and judcious
action The evidence of this fact Is fresh
at hand in the message just now submitted
to Congress by the President, from Which
| quote one or two paragraphs:
IA bill to provide the necessary reve-
nues for the government has already been
passed by the House of Representatives
and the Senate and awaits executive ac-
ton. Another question of very great i'm
portance is that of the establishment or
our currency and banking system on a bet
ter basis, which / commented on IN my m
augural address in the following words
"OUr financial system needs some revision
| our money is all good now but It's value
must not further be- threatened. 1t should
all be put on an enduring basis, not sub
ject to easy attack. nor its stability to
doubt or dispute. The several forms of our
paper money offer, in my judgment, con-
slant embarrassment to the government
and imperil safe balance In the treasury.
Nothing was settled more clearly at the
late national election than the determine
ton upon the part of the people to keep
their currency stable in value and equal to
But the administration cannot make
laws II Cdll Ollly cNSNhLN tAlSii elAtSA tttCS
are made. 1t is then to the legislative
body that your thoughtful attention is to
be given If you desire financial reform
Your senators and representatives will not
consciously antagonize your well-consid-
cred desires but they must be informed
and constantly reminded of what ii is that
you demand. And now what is 1t that
ought to be done to give security and pro-
lection to the future? To this there are
many answers and to every answer many
objections.
I'VE have. indeed. delicate and difficult
problem to solve the difficulty being ag
grayated by the fact that ignorance, preJu-
dice and passion enter into, complicate and
vex the solution This is one of the penalties
which popular government must pay in re-
turn for it's multifarious and eminent bene-
fits With these drawbacks we can never,
without patience, find our way
OPPORTUNITY FOR DISCUSSION.
"The recommendation of the President for
a commission was admirable in this. that
it suggested a way by which body of we'll
trained and thoughtful men could be pro-
vided TO consider. at leisure Without dis
traction from other pressing themes, the
important subject of currency and banking
reforms. 1t at the same time opened
forum TO which could be added every con-
tributive suggestion from all classes and
conditions of men. And If there is anything
dear to an Americans heart, 1t is the
privilege of having his say Give him his
day In court, let his argument be heard and