The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-14

their credit 10 the last degree: notwith-
standing the fact that the government had
passed under a cloud of suspicion as TO it's
abiity,, or intention even. TO protect it's
honor by maintaining the standard vauIe
which had existed for more than sixty
years; Notwithstanding the fact that our
revenues ala not meet our expenditure by
a very large difference. if the banks of
this country had had the same power of
protecting their customers that the banks
In the New York clearing houses had by
issuing clearinghouse certificates and pro-
tectins the merchants OF New York when
the great strain came, by issuing currency
ana stopping the money panic. the CONNER
claI misIortunes of the land would have
been reduced one-half. But the people and
the government were weak at every con-
celvaDle point on account of our financial
and currency system, and, therefore. our
suffering and losses have been extreme
This convention has been called for the
purpose of discovering. If possible. the
causes and OF pointing out the remedies.
For unwarranted speculation there can be
no remedy except in the greater wisdom
and conservatism of the people.
For the absolute imbecility of this gov
ernment's financial position there are two
founded in truth and established by all
experience. and they should be tersely
stated by this convention or it fails utterly
in its purpose.
First-All experience has shown that
there can be but one standard of value.
Therefore, this convention should declare
(ill liz 6OlQ Sldllu1IQ, winch Is the SldIu-
ard of the civilized world. must be per-
manently and irrevocably established.
Second-A1 experience has shown that
State or government issues of notes are the
most expensive and dangerous forms of
money. Therefore, the demand obligations
of this government should be retired.
For that other cause of our present trou-
bic, the want of a currency that is found
ed upon our liquid wealth in every part of
the country, especially in the newer sec
tions of 1t, where there is little or no
wealth in the form of money, there is but
one remedy, that a system of currency
springfng out of local wealth and re-
sponsive TO the demands of trade and the
emergencies of commerce. Therefore, this
convention should declare that to equaliZe
the rates of interest throughout the United
States and enable our producers to move
their crops and handle their manufactures
at the least possible expense. TO prevent
money panlcS, secure justice and insure
equal prosperity Wv throughout
the length and breadth of this land. the
United States should have "a system of
elastic currency.
Now, gentlemen of the convention. shall
we make this simple declaration of funda-
mental and well-establiShed truths. which
VIII furnish texts for the newspapers ev-
erywher and topics for conversation in
every nook and corner of the land, or sha
we be the most SuaVe, diplomatic and po-
lite towards that ever met in a cOnVen-
ton? Shall We not be as brave here in
this convention as the American people
We're at the polls last November? Let us
not forget that this government is where
1t is to-day largely because of straddles
and political cowardice. Let us remember
that the eyes of all the people of the
United States are wistfully turned toward
us. Let US remember that the eyes of all
upon us. Let us here and now prove that
we are honest and brave men.