The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-01-12
OUR MONEY.
Representatives of Banks and
Boards of Trade
Meet In National Convention at
Indianapolis,
10 Decide Upon What Course
of Action
SHALL NOW BE TAKEN
BY Them to Secure the Kind OF
Currency
That Will Further Their Ends
In Trade and Business.


indianapolis, Ind, Jan. 12-The mon
etary conference, composed of dele
ana commercial bodies of most of the
large cities of the United States, con-
Vened at Tomlinson hall at o'clock
D. m.
The monetary convention which be-
gan in TomlinSOn hall this afternoon
had its inception in this city Novem-
per IL, 1896. On that date the govern
ing committee of the local board of
trade was called together by the boards
president, j. c. Adams At this meet
ing President Adams stated that it was
the wish of many members of the board
that steps be taken with a view of hold
ing conference of the boards of trade
of the larger cities of the central west
the object of which should be the con-
sheraton OF the financial situation and
a national convention of boards Of
trade. The purpose of this convention
should be the consideration of a general
currency plan and a possible recon-
mendation to congress looking towards
national financial legislation. H. Han
ma, at the request of a number of bust
ness men, presented the question of
currency reforms. Resolutions were
passed inviting the boards of trade of
Chicago, Cincinnati, st. Louis, Louis
vile, Columbus, Cleveland Toledo,
Kansas City, Detroit, Milwaukee, Min
neapolis, St. Paul and Des Moines to be
preliminary conference in this city
December l, 1896.
The resolutions declared at this
preliminary conference the advis-
ability of calling larger conference
of delegates from the commercial
CARNATIONS of the cities of the United
States and the propriety of creating a
non-partisan commission, whose duty
should be the formulating of q plan for
the Improvement of our currency Sys-
tenn.
At this last conference, held Decem-
Der 1, fifteen cities were represented.
Mr.. H. Hanna as temporary chairman
addressed the meeting. as did z. 0.
Stanard of st. Louis, who was chosen
permanent chairman. Among other
speakers was eX-AttorIley General w.
H H. Miller. A resolution was adopt
ed inviting all commercial bodies in
cities OF over 5000 inhabitants to send
delegates to a national convention to
be held in this city January II.
The convention was organized with
E. o. Stanard of st. Louis, ex-governor
of Missouri, as temporary chairman.
E. o. STANARD'S SPEECH.
The following is the speech of E. o.
Stanard of Missouri, temporary chair
man national monetary convention:
Gentlemen: 1 desire to thank you
for the honor conferred upon me by this
call to preside over the temporary de-
liberations of this convention.
EARLY in December, at the instance
of the board of trade and business men
of Indianapolis a preliminary none
tary conference was called to meet
here consisting of representa- tiveS of
commercial organizations of some of
the central western states, and that con-
ference was composed of some fifty
business men.
After a thorough and rather COM
prehensive discussion of matters under
consideration it was resolved to invite
the commercial organizations of the
United States to send delegates to
convention to be held in this city to-
day to consider matters of Importance
pertaining especially to the financial
policy of the government Pursuant
to this action you have here assembled
and 1 congratulate you and the coun-
try upon the assemblaSe of this con-
vention of business men to consider
matters of so great importance to the
country.
TT is not my purpose on this occa-
sion to suggest any given line of policy
to be pursued in remedying the evils
of which complaint has been made or
that may be suggested here or here
after But may mention, to my mind.
some of the most glazing defects in our
financial system. In this connection 1t
is safe for me to say that the stability,
prosperity and safety of our CONNER
eial. manufacturing, banking and agri-
cultural operations depend upon safe,
comprehensive and stable financial pol
lev for our governmental policy that
NAV be relied on to last from one year
to another and from one political adj
rninistrat ton to another, and to be
taken, as far as possible, out of the
realm of politics.
Confidence is the foundation on
which business and all of its material
interests are built. There should be
enough money to do the business of the
country. and there should be no doubt
about its character and no shaking of
confidence to take it out and keep it out
of circulation. The people of the
Tinted States not only should have
confidence in our financial methods, but
all the nations of the earth with whom
we have commercial relations should
have assurance of the stability OF our
fngnciaI affairs, so that they may know
on what basis they are working. This
is of great importance TO US as Wen as
to the foreign nations when we take IN
To account that during the last year we
eynorted to foreign countries more than
a thousand millions of dollars worth OF
tIe surplus of our soil and the indus
tries of our people and imported a lit
tie more than seven hundred millions
of their products; and while our opera
tiouss with foreign countries may not
he 01Iite as large every year as thiSs
thew are always of enormous proper
tions.
The present financial methods of the
government are largely those adopted
during the war when there were great
strong and constantly increasing con-
viction among. our people that some
method should be adopted for the re-
tirement of the United States and
treasury notes, and that they should
not much longer be tolerated a cir
G Hating medium. They have been q
n dindrance to the prosperity of our