The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-23
Currency and Banking Reform Plans,
and Perfecting Measures for Presen-
tation to Congress This Winter.
FIRST SESSION YESTERDAY
EX-SENATOR EDMUNDS MADE CHAIR
MAN OF THE COMMISSION.
Expert Secretaries to BE Employed
for the Purpose of Putting Sugges-
tiOns in Proper Form.
Special to the indianapolis journal.


WASHINGTON, Sept. 22.-The monetary.
commission held it's first meeting this aft
ernoon at the Arlington Hotel, commencing
a series of sessions that will probably con-
tinue during the fall and until Congress
meets. The commission was appointed by
authority of the monetary convention held
in Indianapolis last January. The personnel
of the commission consists of ex-senator
George +. Edmunds of Vermont; Charles
S. Fairchild, of New York G. Stewart Pat
terson, of Philadelphia; John W. Fries of
North Carolina Thomas G. Bush, of Ala
bama; George E. Leighton, of ST. Louis;
William B. Dean, of st. Paul; Prof. J. L.
Laughln, of Chicago; Louis A Garnett, of
San Francisco; Stuyvesant Fish, of New
York, and Judge Robert S. Taylor, of In
diana.
Prior to the meeting to-day the object of
the work of the commission was outlined
by H. II. Hanna, of Indianapolis. Mr.. Han
ma is the chairman Of the executive COM
mittee appointed by the monetary conven-
ton, but is not a member of the commits
sion. He came here to call the meeting to
order. Several other members of the execu-
tive committee were also in attendance in
cluding George Foster Peabody of Brook
lyn; H. H. Kohlsaat. of Chicago; Colonel
lIlSI VI OdllOTIlld, dilQ Aug uSIuS G w III
son, of Louisville.
THE executive committee of the monetary
commission" said Mr.. Hanna, was
charged with the duty of securing authori-
ty from Congress for the President of the
United States to appoint a commission to
take up the question of a general financial
plan for the country, including a banking
and currency system, and TO study the sub
iacf nd 1a116
session of Congress. That committee spent
several weeks here last spring in efforts to
secure favorable action from Congress- The
President announced in his inaugural adj
dress his attitude upon the matter, as being
favorable to a currency commission, and
the entire administration has been friendly
to the project.
Failing to secure authority from Con-
gress for a commission the executive COM
mittee proceeded to organize commission
of it's own. The executive committee APP
pointed 4 subcommittee to confer with
President Mckinley ana Secretary Gage as
to the attitude of the administration to-
ward such a committee in order that the
men who should be appointed would un-
derstand the interest which the adminis-
tration would take in the matter. Both
President Mckinley and Secretary Gage ex-
pressed themselves as being in the most
cordial sympathy with the work, and have
not hesitated to announce their apprecia-
tion of the value of an organized effort to
secure an expression of public opinion as
to the wants Of the country in financial
legislation. In fact the approval of the
President and the secretary of the treasury
is of the mcst pronounced friendly char
acter.
Al
ceptance of the gentlemen named above for
appointment upon the commission. 1t is the
purpose of the commission to take up the
subject intrusted to them for investigation
and study, and to seek suggestions and
recommendations from everybody in an ef-
fort to obtain information of the needs of
every part of the country as to financial
legislation, with the end in view of making
recommendations therefor that will serve
the whole people the best without prefer
ment of any interest or any part of the
country.
IF attention is given to the geographical,
political and commercial representation on
the commission it will be noticed that New
England has one representative. the East
three, the South two, the Southwest one,
the Pacific coast one, the Northwest one
and the Central West two There are six
Republicans and five Democrats. The char
acter of the men who compose the commits
sion is of the highest. They were chosen
after the most careful consideration of the
situation. They are representative men and
thoroughly qualified for the work they have
undertaken The commission will Law out
it's own plan of work determine the length
OF it's sessions and where they shall meet
but my opinion is that the commission will
remain in session until Congress assem-
bles.'
All the members of the commission ex-
cept Messrs Fish and Garnett were pres
ent at the meeting this afternoon. The ses-
sion was devoted to preliminary discussion
of the scope of the investigation and the
methods to be pursued. Ex-senator Ed
munds was chosen to preside over the de-
liberatonS of the commission and Mr.
Leighton. of st. Louis was elected vice
chairman A special committee consisting
of Messrs Leighton, Patterson and Fair
child was appointed for the purpose of con-
Sidering the question of what expert help
the commission needs in the prosecution Of
its work and of suggesting methods to be
followed in disposing of the questions pre-
sented. This committee will recommend
that two expert secretaries be appointed to
collect in proper form the suggestions that
have been received for reference to the an
propriate committees The persons to be
recommended are MeSSrs 7, Carroll Root
of New York. and Fl. p Willis of Chicago
The appointment of three general com
mittees Will also be recommended name
ly: On gold and currency on United States
currency, and on the banking question. to
which the suggestions received will be re-
ferred
Tonight the commission agreed to the
selection of MesSrS. Root and Willis as col
lating secretaries. Nothing else was ac-
complished.
CUBA'S NEW TARIFF LAW.