The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-10

THE MONETARY COMMISSION.
1t is expected that the monetary com
mission. now in session at Washington, will
be ready to submit its report and the draft
of bill for the reform of our currency sys-'
tenn about the time of the assembling of
Congress. 1t is worthy of remark that the
publication of Secretary Cages plan of cur
rency reform which will be embodied in his
annual report has not lessened public in
terest in the proceedings of the commission.
On the contrary, the interest is increasing,
and from present indications the report and
plan of the commission will attract fully
as much attention that of the secretary.
There is no reason why they should not.
The secretary is an able man and expert
enced financier, who has the entire respect
and confidence of the country, and any
financial recommendations coming from him
should carry great weight. But the none
tary commission in its organized capacity
represents a greater aggregate of financial
wisdom than any one person can possess,
and there is reason to believe that through
its plan of obtaining the views of we'll
known financiers and business men in differ
ent parts of the country it has obtained
a greater number of independent expressions
than the secretary could have done. In say
ing this it is not intended to imply that
there is likely to be any rivalry between the
commission and the secretary as TO whose
plan will be entitled to greater weight and
consideration. In a matter of so great i'm
portance there should be no ambition ex-
cept to reach the best result, and so far as
the Journal can ascertain this is the desire
of the secretary and the commission alike.
them as to the imperative necessity of ac-
ton ia the premises, and entire agreement
on the fundamental principles and main
features which should be adopted. These
are likely to be practically identical in both
plans, and if they should differ in detail
such differences can be easily adjusted. The
secretarys plan will have the prestige of
official authority, but the lack of that should
not detract from the character of report
made by such body as the monetary COM
mission. Whatever the commission may
lack in official authority it makes up in the
manner of it's creation and in the ability
disiuterestedness and singleness Of purpose
of its members. In it's origin it represents
the people in their sovereign capacity and
the American idea of the right of the people
to be heard regarding public affairs. One
of the speakers at the convention which
created the commission, himself very
prominent business man, said: This is the
first movement 1 have ever seen in which
-
party utilization, have come together upon
a matter of such moment and of such i'm
portance. and with such determination to
assert their rights and to call upon their
representatives in Congress to perform their
duty to the business men of the country"
AS the convention which the speaker was
addressing contained $50 delegates, repre-
cations and cities in nearly every State in
the Union, the remark was not out of place.
The committee on resolutions whose report
led to the appointment of the present COM
mission consisted of twenty-seven members
from as many different States, and the
commission itself consists of eleven men,
bers from eleven States. Such movement,
resulting in the creation of such d commits
sion, is a conspicuous example of the initi-
alive in that it represents a movement of
business men, by business men, not for bust
ness men alone, but for all classes. The re-
port of the commission, backed up as it will
be- by the organized business sentiment of
the country, acting in concert through we'll
devised methods, is sure to receive a large
measure of public attention and respectful
consideration bv Congress-