The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1897-09-17
WILL PREPARE A PLAN
Hugh Hanna Has Appointed a
Monetary Commission.
TO BEGIN WORK AT ONCE
Senator Edmunds Viii Probably Be
Chairman -Its Report VIII Be Based
en- the Maintenance OF the
Present Gold Standard.

l.
chairman of the monetary executive
committee. to-day announced the com-
pletion of the commission. aoccpiancrs
having been received from l.ouis \
Garnet III San Francisco and J. l..
LaughiIn of Chicago. Prof ssor Laugh
lin is one ol the best known political
economists of the country. aud during
IN. past few years his writings upon
financial questions have attracted
world wide attention. lie was for many
years president of the Manufacturers
Insurance company of Philadelphia and
thcr, made a record as careful con-
seryative and successful business nlan.
He left this position Ia take thc chair
Of political economy in the chicago uni
yersity some years ago aud has sine
been engaged In that work, Mr. Gar
mel is regarded as the most .innent
authority ON the Pacific coast In mat
t,rs OF finance and currency. He or
ganiz,d the service of the san Fran
cisco mint and spent many years In IL.
Al the close of this service he spent
some years abroad In travel and study
of financial and economic questions.
Returning To san Francisco M organ
izod the great reduction works known
as the Selby smelter, With which he
has since been connected. He has made
some very valuable contributions to III
erature of inance and is much con-
suited by the large business interests
Of the Pacific slope. Neither he nor
Professor Lsughlin are men of wealth
and In consenting 40 serve upon the
commission. none of whose members
are compensated. they make a consid-
cradle personal sacrifice.
ll.. .uls al lN
thes. appoinim is composed ar fol-
lows: Ex-senator George y. Ed
munds of Vermont. Charles :. Fair
child of New YORK. cN-se'feiary oi the
treasury; a.. Stewart Patterson Of Phil
adslphia, who MAS president "f the
monetary convention last January ..
W. Fries of Salem. y. a.. at the head
of tho great cotton industry that bears
his name. 7. q. Hush of Admission. Aha.
president OF the Mobile a. Birming-
ham railroad. and largely Interested IN
iron In Alabama. George T.. Luston ~
81. Louis: retired manufacturer. w.
Il. Dean of 81. Paul, wholesale hard
ware merchant: n. y. Taylor of Fort
Wayne. lawyer: Louis \. Garn"it of
San Francisco. Prof J. !, l.aughlin of
Chicago and Stuyvesant Fish Of New
York.
While no attention was paid to the
political leanings of the men chosen
for the commission. II happens that IL
contains six republicans and five
democrats. There WAS. hcweNer. much
care given To the question of goograph-
ical representation and the distribu-
tion of the commission In different
lines of business. senator Edmunds
Was taken as the representative of the
country al large. and of the other
It NJ he l,l ~ A. fit
from the East. two from the South. one
from the Pacific coast. one frnm the
Northwest, one from the Southw est
and two from the Central West.
The commission has been called To
meet al the Arlington hotel in Wash
ington Sept. 80. 4 call has been issued
for the executive committee Ia meet at
the same time and place and II is cx-
pectcd To begin the work for which the
commission WAS appointed AT once.
II will make "A thorough investigation
of the currency question In all It's
phases. The executive committee viii
bring before II experts and historical
and statistical data gathered from all
parts Of the world. as well a. a great
many popular suggestions that have
been received from individuals aud or
gsnizations throughout the country. II
IL the desire ~ the commission aud the
executive committee that the people
should contribute whatever suggrs b
tions or evidence they hsv. upon the
subject. and all surh matter mailed Ia
/ the Monetary Commission" al Wash
ington. viii be given careful considera-
/ ton.
The monetary convention. out of
/ which the commission grew. laid down
| three points In finance. and upon ihis
/ platform the report of the commission
L Ia congress will be based. The princi-
pies contained IN this declaration were
f that the present gold standard should
/ he maintained. that steps should be-
taken To insure ihe ultimate retirement
, u all classes of United States notes by
"A gradual and steady process and ~ rs
Ia avoid injurious contraction of the
] currency or disturbsnc. of the busl-
ness interests of tn. country. aud that
until such retirement provision should
( be made for a separation OF the revenue
and note issue departments of the
treasury and that n banking system be-
3 provided which should furnish credit
! facilities 10 every portion - the coun
| try and a safe and elastic circulation,
4 and especially with view Of securing
I such a distribution ~ the loanablr cap
r ital uf the country as Nili tend 10
caualizc the rates ~ interest In all
parts ther Of.
II is probable that Senator EdmuHds
viii be chosen To preside oy'r h" cp,n-
mission. \ force of secretaries aud
/ clerks sufficient Ia do all IN. clerical
, work viii he provided by III" executive
. santpnftt..