New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-27
RJTSINESS MEN SPEAK OUT.
,,o UNCERTAIN VOICE OF THE NONE
TARY CONVENTION.
,,,r REPORT OF THE COMMISSION lNDoRsEp. AND
ACTION BY CONGRESS STRONGLY URGED
STIRRING SPEECH BY EX-sECRtSrAkf
rAiRC.HID-THE RESOLUTIONS

,~r,ox Ry CONGRESS STRONGLY URGED
s,,,pR1NG SPEECH BY Ex-sECRETARY
rNRCHILD-THE RESOLUTIONS.
Try TELEGRAPH TO THE TRIBUNEJ
1,d,anapos Jan. 26-The second Indianapolis
,.,e,arv Convention. the greatest representation
- ,he business interests of the country ever as
'h,od closed this afternoon at O'Clock, "tt'r
io,,slv adopting the report OF the Commission
",,,ed by the convention held in January, 1897.
~, J, oo,omending the bill for monetary reform pat
- after the report. which has been presented
N congress and is now in the hands OF the Bank
" and currency Committee.
' resolution adopted by the convention today
=. ,he power 10 the Executive Committee and
s.,,en, Leslie NJ Shaw TO call The members Of ;hc
Invention together again at any time when IL shaii
- seemed necessary for the good OF the country
pr.s,dent Shaw called the convention TO order at
"a ,,.,ock this morning. Not more than hfty OF the
s,ogates were present at that time. and opportu-
s siven for delegates to introduce resolutions
Ai,b nal been adopted at meetings Of the state
'alegatjons r. J. Parker of Virginia. introduced
ss,uton that the convention indorse the work or
che National Business League. which IS trying
- establish Governmental Department OF
~,,,-n,r,e and Industries, the head OF which
shau hc a member of the Cabinet Mr.. Adams,
=, Massachusetts, asked that the convention ofii-
,,llv make known IT'S belief that the United states
should have proper representation of its manu-
tactured products 1T the Paris Exposition In 1900.
ani that Congress should enact IcslsAtioh 10 SUM-
ulate such representation.
resolution presented thanking the None
,arv Commission for its work I'm preparing the re-
mort and that a copy of this resolution. suitably
engTosscd and bound. be presented 10 each mem
her OF the Comms sion. as token OF the conNen-
lions sense Of the eountrys great debt TO the
members Of the Commission. These resolutions
were adoutcl
The secretary of the convention read large
number Of telesrams and resolutions from organi-
zatlons tnrolrhout the country. which had been
prevented from sending delegates TO the conven-
lion These messages expressed the warmcst sym
pathy with ihc worA OF the convention and SIN
.erest hopes for it's success.
A number Of delegates from cities further from
INDIANAPOLIS did not arrive until this morning. and
an official count showed $50 delegates registered,
l5o more than attended the first convention
SECRETARY FAIRCHLD's ADDRESS
All ~ the delegates were In their seats when the
reading Of the resolutions finished. and Presi-
dent shaw called for hve-mnuto speeches. Charles
: Fair-hnd of New-York, ex-Sccrct@ry Of the
Treasury was introduced and was received with
great applause The delegates had looked forward
10 his address as an experts views OF monetary
conditions. lie said:
Mr Chairman and Gentlemen OF the Conventions
Your Commission mas done lts work under lie IN
spiratior Of lhc Convention of i%1. guided 10y ne
principles and general policy laid dowg Py re,o-,
ih@t which I'd To- its 60 illusions it would be thus:
v1r,s irte~r,.rs. with man first IN small, then
In large and larger affairs, until II becomes uA"e
and commerce. going always oNWalc ana o''"atpi
beyond neghnoIAociS' tlth peH tO"i oi mil
States. then OyCrpass.ng the nauOns hoHn"s u.,''
a. ~ i ~. ~ aes f-or3 tnia 10 time selected and de-
termired standards of value and mediums Of eN-
change Governmental power has had hli.c OF
ascertainel what we're the facts iu this regard.
and adaptirg law 10 them has saved the people
ineonyenience and thus has served thGnli - ,oo~,
@ & ,ss or ,x SS ne and
worse. great confusion and ioss 10 az the
peope consequently. ''0e'Illre',i % nm r,o Men
10 learn facts and conform us Jaws tneIo.o Nm @
IN the past have lad standards OF value ana me-
mediums. or whatever name YOU may s'e ri Ii,,ll
with laws save tho customs or business. me-
~ NH b@v1 Hen, in .pitc Of statuje- if statutes
stand in the way Of the Irresistible force OF the
Bankns ioo Las been carried on yith9ut cut sr.t siat
ute The Obligations OF banks are not ihe C'.H-
evolutlous Of business Government if wse VIII
take note Of an this. and not stand asains5 na,ure
IN s"helae Of our states and Of the United States
General Government. an(. certain other powers 10
denied TO tie government Of either. SO in the
scheme of creation. somr loW'Is nave "''' ''
The experience Of mankind shows thar among
measure the value OF property and service, ana for
what they shall eXch1-S. property anu s'iN4,';
my DBL. j.
governmental philosophy such ~ 'Hls Wa7
fat of civilization IS thar men measure value
by gold Whatever Doe the standard named by iaWM'
men VIII continue 10 mea~ut" Ntiie 'y toid uiil"'
by the concurrence Of their habits tAey etolFe
something that suits their purposes better II iaW
conforms 10 his fact, ii assists nature aho Ht.Is
yairIv irios ~ 70 against nature and harms the
,eof. 50 of legal tender-if with nature, Is hep,
H. ,,e t.0n.. b1fmfui and wrlkeuins TO the Gov
eirfnerf So 0f private demand obligations. btHk
nm iaw can yasiIy ada to their efficiency ~
services.
WHAT GOVERNMENT CAN DO.
Government. when 1t stsmps bit Of gold ana
makes IL "A coin adds value that was not IN the
"A, y, oid t,, r greatly Increases the efficiency Of
his bit OF gold and thus makes It better tool 50
ehen Government deviscs "A system for the issu-
,nce of bankrotcs and ceruhes tha' notes are -
mcd tfereund.r it does no, contribute tn41i Wncn
fyes Them value II does howcvcf make ihcm
moro efficient and better tools FOR tno*e VINO wlSi
and ~ lie bsrk,e;c Government Joy wis laws en-
abl.s capital more el cicnly 70 s'iN ,o - -. xxx -
who wish 20 U.s.. capital IN 'he one o' 'H' ''''1'
II Governmeu. VIII lot conform rs statues 10
sac,s and VIII rot shape them 20 naiNrii 'NS @ ma
N ass.tanc, t.crcof then at lcas, In such matMt.rs M
a. he standard Of value ana 81 t AT ali ic9-
Ing the civilized business W"I- 10 80.
Of sges .,d .oSarnei by custom fixed in me un-
written law of business by the habits of business
Genterren YOUR Commission report. when & 'A-
amined nl De- found TO be an at,enpI 10 .fot',cs
tupple,r, .rd ,eeis. ;hc laws which ne htht,
q bqs4 have eyoyed nay aasrca ao' and f' cur
rency b.i ali laws thu. have been helIini - '' d
are but the embodiment IN statute OF oilr.1edy ~ nxrd
c!si0n ~ Judges Of that whicb WAS "Ii' ""ft,, 49,.
BY lone-coniinued custom. The g'i''" ,fr, and
ported by the Commission has had p",''., .,,,,ilcd
thorough consideration. Facts nave % Hn.,,.',l lv
tDd conclusions reached impartially ana Nh n
i IS based upon broad business lIln'lpl,r, or ali
f,.f.I nd
ousnesS men .....,or and
II men of business give serious "t,n,,o,,
STUDY 10 .hose subjects they VIII su'st ir
agree upon legislation, and. thus is,r ,16'ov arc
csge,e.. o'difaron, carried away 10y hobbies III *