The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-17
TWO FINANCE EXPERTS
THEIR NAMES COMPLETE THE MON
ETARY COMMISSION ROSTER.
Prof. j. l.. LaughIfn, OF Chicago, and
Louis A. Garrett, of San Fran
cisco, the Selections.

The Monetary Commission is now COM
plete, and Will begin it's work at the Ar
lington Hotel, in Washington, on Sept. %.
Hugh FL. Hanna, chairman of the
executive committee yesterday an
nounced the appointment of Professor
j. L. Laughlin, Of Chicago, and Louis
A. Garrett, of San Francisco as the
remaining members of the commission.
Professor Laughlin is one of the most
prominent political economists of the coun-
try, and his writings upon financial ques-
tons during recent years have attracted
attention all over the world. For num-
Der of years he served as president of the
Manufacturers Insurance Company of
Philadelphia, where he made a record as a
careful, conservative and successful bust
ness man. He left his position to take the
chair of political economy in the Chicago
University several years ago, in which
work he has since been engaged. Mr.. Gar
nett is regarded as the highest authority
in matters of finance and currency on the
Pacific coast. He was the organizer of the
service of the San Francisco mint, in which
he spent several years. At the end of this
service he went abroad and spent several
years in travel and study of financial and
Francisco he organized the great reduction
works known as the Selby smelter, with
which he has since been connected. His
contributions to the literature of finance
are very valuable, and are frequently con-
suited by the large business interests of
the Pacific slope Both Mr. Garrett and
Professor Laughlin make a personal sac
rifice in conserving to serve on the COM
Of xuI0 &c
pensated, as neither is man of wealth.
AS now completed the compassion is COM
posed of ex-senator George F. Edmunds
of Vermont; Charles S. Fairchild. of New
York, ex-secretary of the treasury c.
Stewart Patterson, of Philadelphia, who
was president of the monetary convention
last January; j. w. Fries, of Salem, n.
c.. at the head of the great cotton indus
try that bears his name T. O.. Bush, of
Admission, Ala. president of the Mobile d
Birmingham Railroad, who is largely inter-
ested in the iron industries of Alabama;
George E. Leighton, of St Louis retired
manufacturer; w. b. Dean, of st. Paul,
wholesale hardware MERCHANT; r. S. Tay-
lOr. of Fort Wayne, lawyer: Louis A. Car
nett, of San Francisco; rof. J. L. Laugh
lin, of Chicago, and StuyVesant Fish, of
New York, president of the Illinois Central
Railroad
Though no attention was given to the po-
litical views of the members of the com
mission, it happens that it is composed of
six Republicans and five Democrats. How
ever, much care was given to the question
of geographical representation and the
distribution of the commission in different
lines of business. Senator Edmunds was
taken as representative of the country at
large and of the other members of the
commission three are from the East, two
from the South one from the Pacific coast,
one from the Northwest, one from the
Southwest and two from the Central West
MEETING OF THE COMMISSION.
A call has been issued for a meeting of
the commission at the Arlington Hotel, in
Washington, Sept. %. The executive COM
mittee has also been called to meet at the
same time and place, and it is expected to
begin its work at once. A thorough inves-
tigation of the currency question will be
made in all it's phases. The executive COM
mittee will bring before it experts and his
torical and statistical data from all parts
of the world, as well as a great many sug-
gestions that have been received from in
dividuaS and organizations throughout the
country. 1t is desired by the commission
and the executive committee that the peo-
pie generally shall contribute any views or
suggestions they may have upon the sub
ject, and all such matter mailed to the
Monetary Commission, at Washington,
will be carefully considered. The monetary
convention, out OF which the commission
grew laid down three points of sound
finance and upon these the report of the
commission to Congress will be based The
principals contained in this platform were
that the present gold standard should be
maintained; that steps should be taken to
insure the ultimate retirement of all
classes of United States notes by a gradual
and steady process, so as to avoid injurious
contraction of the currency or disturbance
of the business interests of the country,
and that until such retirement provision
should be made for a separation of the rev.
enue and note-issue departments of the
treasury and that q banking system be
provided which should furnish credit facili-
ties to every portion of the country and
safe and elastic circulation, and especially
with a view of securing such a distribution
will tend to equalize the rates of interest in
all parts thereof.
It is probable that Senator Edmunds will
be chosen to preside over the commission.
A force of secretaries and clerks sufficient
10 do all the clerical work will be provided
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