The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-30
THE INDIANAPOLIS MONETARY
CONVENTION.

The New York Mail and Express has a
strong editorial deprecating the failure of
the Senate to take any action on the Presi-
dents currency-reform message and ex-
pressing the hope that the movement thus
inaugurated will be carried on. 1t says:
The President agrees with the Indian
apois conference of January that some
form of currency reform is necessary and
he commendS the report of that body urg-
ing the creation of commission Ito make
thorough investigation of the monetary
affairs and needs Of this country in ali
relations and aspects and to make proper
suggestions as to any evils found to exist
and the remedies therefor" 1t must not be
inferred, however, that the President is
committed to the currency policy enunci-
ated at Indianapolis. He simply. approves
the careful, broad-gauge, intelligent
methods of investigation and elaboration
there proposed, leaving the scope and char
acter of the revision to be marked out by
the commission itself.
1t certainly cannot be inferred that the
President is not in favor of the currency
policy enunciated by the Indianapolis con-
ference. He has repeatedly expressed his
cordial sympathy with the spirit of that
meeting, and his special message approved
it's plan for the appointment of commits
sion.
AS there seems to be some misapprehen-
sion regarding the nature and scope of that
conference, and as the country is likely to
hear further from it, it may be we'll to re-
call the circumstances under which it met
To begin with, it was dstinctively a con-
ference of business men. 1t was absolute
ly nonpartisan and nonpolitical the out
come of a voluntary movement by the
business men of the country to consider
a matter of business. Two weeks after the
election of Mr.. Mckinley, on Nov. IS, the
Board of Trade of this city adopted a reso-
luton inviting the Boards of Trade of Chi
cago, st. Louis, Detroit and other cities of
the Central West to send delegates to a
preliminary conference to be held in this
city on the 1st of December following, to
prepare for a larger convention to consider
the question of currency reform. AT this
preliminary conference there were present
representatives of the Boards of Trade
Chambers of Commerce. and similar COM
mercial bodies of Chicago, st. Louis, Mil
waukee, Minneapolis, St Paul. Louisville
Cincinnati, Cleveland. Columbus, Toledo
Grand Rapids and Indianapolis 1t will
hardly be denied that this was a confer
ence of business men. 1t resulted in the
issuance of a call for "a nonpartisan con-
vention," to meet in this city on Jan. r.
1897, to be composed of representative bust
ness men chosen from boards of trade or
other similar bodies in cities of not less
than 5000 inhabitants according to the CEN
sus of 1890. The call stated the object Of
the convention to be that of considering
and suggesting such legislation as may
in their judgment, be necessary to place the
currency system of the country upon a
sound and permanent basis" When the
convention met it was found there were
270 delegates present, representing boards
of trade and commercial organizations in
sixty-four cities of twenty-six States
Neither before nor since has there been as
sembled in the United States so large a
number of representative business rnen
periodically intent on a purely business