The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-10
THE MONETARY COMMISSION.

The monetary commission appointed by
the executive committee of the Indianapolis
monetary convention is remarkably
strong one and well balance in every re-
spect. These qualities are so conspicuous
as to show great care in the selection of its
members, and Mr.. II. II. Hanna, on whom
the duty has chiefly fallen, is to be con-
graduated on having secured for the i'm
po-tant work in hand the services of so
many able, distinguished and representa-
tive men in their respective callings and
communities 1t was no small task, first,
to find eleven men of recognized fitness for
the work properly distributed geograph-
ically, and then secure their consent to en-
gage in a work for which their only re-
ward will be the consciousness of having
tried to render a public service in a matter
of great Importance. The executive com
mittee has succeeded so we'll in this part
of the work that it would be difficult to i'm
prove upon it. The members of the COM
mission Of national reputation, such as ex-
Senator Edmunds and ex-Secretary Fair
child, will give the commission instant
prominence throughout the country, while
other members if less widely known are
no less able and highly respected in the
different portions Of the country which they
represent. The commission is admirably
balanced geographically, and while the
question Of politics did not enter into its Sc
lection it happens to be almost evenly di-
vided between Republicans and Democrats,
the latter being of course sound-money
Democrats. There is not a member of the
commission who is not fully up TO the
standard of congressional or senatorial
timber, and as a representative body of
business men it's like has not been known
in connection with any public movement.
Under the resolutions Unanimously
adopted by the Indianapolis monetary con-
vention in January last the commission will
endeavor to frame plan of currency re-
form on the following lines:
First-That the present gold standard
should be maintained.
Second-That steps should be taken to in
sure the ultimate retirement of all classes
of United States notes by a gradual and
steady process, and so as to avoid injuT1-
Gus contraction of the currency or disturb
ance of the business interests of the coun-
try, and that until such retirement prov1-
sion should be made for a separation of the
revenue and note-issue departments of the
treasury.
Third-That banking system be provided
which should furnish credit facilities TO
every portion of the country and a safe and
elastic circulation, and especially with
view of securing such a distribution of the
loanable capital of the country as will tend
to equaIize the rates of interest in all parts
thereof.
Whatever plan the commission may adopt
will embody these principles. In prosecut-
ing the work the commission will call be-
fore it the best financial experts, political
economists and practical bankers of the
country and will solicit information and
suggestions from every available source.
When its labors are completed the Indian
apols convention may be called together
again to ratify its action, or it may go di-
draft of a bill based upon it. In either case
the commission wishes to be understood as
working in perfect harmony with Congress,
with a common purpose to promote the
common welfare. Although the commission
is not strictly speaking, an official one,
the movement it represents has the hearty
approval of the President and the secretary
of the treasury ard the fact that it is
backed by the solid business sentiment of
the country gives it greater strength than
any mere legal authorization could do. In
a large degree it represents the principle of
1.-The initiative" for it is an expression
through popular methods of the universal
demand among business men for reform
of our currency system.