The daily morning journal and courier., 1898-01-28
THE MoNETA BY CONVENTION.
Source of the Demand for Gold Standard
 and sound Money.

and sound Money.
 Indianapolis, Jan. 27.-The monetary convention adjourned at o'clock yes- terday amid general good feeling. It might have adjourned earlier, but the chairman held it back from action on the report of the committee on resolu- tions in order to give number of dele gates an opportunity to make five-min- ute speeches. These brief addresses came from all parts of the, country and were pointed and interesting. When the vote was finally taken on the reso- lutlons indorsing the report of the mon etary commission it was done by rising, and not delegate arose on the negative side.
 "The Source of the Demand for Gold Standard and Sound Currency" was the subject of the address of Dr. Sam uel Adams Robinson, representing the New York board of trade and trans portation and the Staten Island cham Der of commerce, which was to have been delivered at the conference, but was not finally given because the con vention adjourned before it could be de- livered The address as prepared is as follows:
 The New York Board of Trade and Transportation has from it's inception of this monetary commission felt keen interest in it's proceedings. Our mem- bership is composed of about 800 firms and individuals, engaged almost exclu- sively in mercantile and manufactur- ing pursuits. To them a stable stand ard of value is of paramount import ance, and so far as I have been able to ascertain our organization was the first commercial body to present plan for the formation of monetary com- mission
 On December 13, 1893, MT. Allen Rip ley Foote read paper before our board entitled "How Shall a Sound American Currency and Banking System be Es- tablished?" after which we unanimous ly passed a preamble and resolutions containing the following:
 Whereas, The formulation and adoption of sound currency and bank important and urgent requirements for inducing an era of solid prosperity for the whole people, be it
 Resolved, That the New York Board of Trade and Transportation will CO., l operate with all other industrial, com mercial and financial organizations for l the purpose of securing the organiza- l ton of a national monetary commits sion to be composed of seven expert and non-partisan members, for the pur- | pose of formulating a sound currency and banking system to be reported to congress and the legislatures of the sev- eral states for adoption.
 Resolved, That the paper read, to- gether with the preamble and these res- olutions, be printed and a copy for warded to members of this board and | to each industrial and commercial or ! ganization with which this board is in correspondence, with the request that it | take a similar action and report the name of the representative it selects to | this board.'
 | MT Foote's paper and our resolutions were sent to industrial and commercial l organizations as above indicated, and we have ever since endeavored to secure the ends therein set forth We had hoped to secure commission including | representatives of the leading labor or 1 ganizations and of those engaged in agriculture.
 Men who have devoted their lives to the study of finance upon broad and | thorough lines, and have had large ex- perience in monetary affairs, are far better prepared to formulate financial system which would promote the well fare of the people of the United States, than those without such study and ex- perience. Tn view of this fact we as- sume that a great majority of the bus mess men of the United tSates will heartily endorse the report of this mon- etary commission. Men of sound judg- ment and business experience will do this just as they would adopt the rec concentrations of thoroughly qualified and experienced chemists, engineers electricians or skilled mechanics, re- garding matters pertaining to their re- Spective callings.
 So much has been done, however, to prejudice people against the advice of | those who are best fitted to prepare l banking and currency system which would be best for all classes, that the report of this commission is receiving a great deal of unjust criticism. Our desire to avoid and forestall such criti- cism was one cause of our unanimous endorsement of MT. Foote's paper as his plan for the selection of commission was one which no intelligent man could have honestly condemned, unless he was one of the small class as captious critics whom no one can satisfy.
 Probably the most virulent attacks upon the report of the commission are
 bsed upon the claim that it is wholly in the interest of bankers. The charac- ter of these attacks is well indicated by the headlines of an article in Senator
 William M. Stewards journal for Jan uary 20, 1898, the Silver Knight Watch.
 man. These lines are as follows:
 ''That Bank Appendage. The Indian
 apolis Currency Commfssin-Senatol
 Stewart calls it's report the greatest GU
 riosity of ignorance and duplicity that
 has been produced in the nineteenth
 century-Can only be compared witt the astronomy of the dark ages.''
 Another article is headed: "Elevei
 Conspirators'' called Monetary Com
 missioners. s."-Vermont's discarded sen | o+o o4 hnod-rhaxr