The Topeka state journal., 1897-12-15
CRIES ''WOLF."
The National Board of Trade
in Annual Session.
Sees Cause for Alarm About the
Future
FIAT MONEY CRAZE
The Inevitable Issue of the
MONEY CRAZE
The Inevitable Issue of the
Next Campaign, it Says,
Unless Unexpected Prosperity
Shall Prevail.

Washington, Dec. 15.-The national
board of trade met here today for it's
2Sth annual session, ex-Gov. Stanard
of Missouri presiding in the absence of
Frederick Franey of Pennsylvania
who has been president of the board
since 1868
The executive committee made it's
annual report, which was adopted
without a dissenting vote.
On the subject Of the currency, the
report says:
Probably there is no subject which
is still of SO much Importance as that
of the currency. While the great up
rising in favor of sound money in 1896
was not without its good effect, there is
still much to be desired in the way of a
permanent prosperity, which condition
is mainly due to the fact that the fu-
ture OF our monetary system is still
largely in doubt. over confidence as to
the continued influence for good and
the defeat of silver at the last election
is a serious mistake. While hard times
are undoubtedly stimulus to
unsound systems of finance it
is mistake to suppose that
the numerous friends of such systems
Will be entirely satisfied by a return
of prosperity. Hard times which did
not originate the silver question, have
undoubtedly been used by interested
parties to insti1 false ideas into the
minds of many of our people, princi-
pally workingmen and farmers, which
belief. A spirit of unrest and dissatis-
faction still exists among such classes
and there is no evidence that among
such, any great conversion from the
free silver doctrine has taken place
anywhere in the country
In New York or Nebraska the Opin-
ions of the dissatisfied are now practi-
cally the same as before the election.
The form may have changed. AS free
silver was but a form and natural Sc
quence of the greenback heresy, so now
the tendency is to become a fat money
rather than a silver falIacy; but in
whatsoever form it shows itself, it has
become a general theory of public pol
icy and conspicuous tenet in the doc
trine of a national political party. To
such the free silver or fiat money ques-
ton and all considerations of currency
reform will be made subserVient there
to. The only way to meet it is by per-
sistent education, for which purpose
some of the sound money organizations
have been continued and a national one
formed, though without very much
popular interest or support, and by the
adoption of a sound financial policy
including not only coinage, but bank
ing and currency.
While our present system exists,
there is the ever impending danger of
a repetition of our late financial diff
ficulties, when the country would be
al the mercy of those who do not have
its best interests at heart. In the alb
sence of careful attention in the mean
time, unless by some very unexpected
contingency we shall have an unprece-
dented degree of national prosperity a t
the time of the next general and presi-
Dental election, we may expect to see
the fiat money issue the issue of the
campaign"
One of the most important reports
presented and adopted was that of
Jonathan A. Lane of Boston on the
reform of the consular service. The re-
port advocated the extension of the
civil service rules to cover consular
service to the end of securing practi-
cal business men in the service rather
than purely political appointees. An
other recommendation was that here
after importers be compelled to attest
their invoices before a magistrate of
the country from which the goods are
shipped in addition to their oath be-
fore the United States consul.
A report was adopted from the com
mittee on uniformity of state laws.
This especially looks to the unifying
of commercial laws in the various
states.
ject of the TOrrey bill, which received |
the Endorsement of the meeting. This |
measure relates to the unifying of land |
laws of the several states.
The recommendation of Surgeon Gen
eral Wyman for a national quarantine |
law was discussed at length End hear
tily indorsed.
Mr.. Speak of Boston submitted a re- |
port on the bankruptcy laws, stating |
that bill similar to the Torrey bill |
would soon be introduced before the |
house of representatives, and urging its |
Endorsement This report was referred |
to a special commission.
The venerable president of the board |
Frederick Franey, of Philadelphia who |
has held office ever since the organiza-
tion of the board, was unanimously re- |
elected.