The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-24
1t Originated in indianapolis, and
Speedily Attracted Attention in
All Parts of the Country.
THE MEETING LAST YEAR
AND THE EFFICIENT WORK THAT
MADE 1T A GREAT SUCCESS.
A Movement Unique I'm Character and
Business Men Everywhere.

the currency that has taken definite shape
in the plan recommended by the monetary
commission is unlike anything that has
ever before been known. 1t is general
movement of the active business interests
of the country, based upon broad lines OF
patriotism and untrammeled by partisan in
| f1uences or political ambitions. 1t has been
the history of modern civilization that a
period of commercial depression is invari-
ably followed by an agitation for a cheaper
form of money. and the long siege of COM
mercial distress ushered in by the panic of
1898 was no exception to the rule. The agi-
tation for cheap money eliminated in the
struggle of 1896 and as soon as that battle
was over business men-and by this term
is meant every man engaged iE productive
industry and professional work, the me-
chanic, the farmer and the physician no
less than the merchant, the manufacturer,
the banker and the railroad manager-busi-
ness men in various parts of the country
began to seriously consider the necessity Of
so providing for the future that the coun-
try should not again be subjected to such
a terrific strain. Commercial bodies in
various cities adopted resolutions looking
to reform of the currency, but when the
indianapolis Board Of Trade took steps
looking to a general conference OF the busi-
generally recognized that this was the prop
er method of reaching the subject, and that
Indianapolis was, from its geographical To-
cation, the most fitting birthplace of tho
movement. Commercial organizations
throughout the country willingly laid aside
their own plans of action in order to join
in and give dignity and force to this effort.
The subject was submitted to the Indian
apolis Board of Trade by Hugh II. Hanna
on Nov. 49, 1896. Mr.. Hanna, though he had
never been actively engaged in politics, had
been intensely interested in the fight for
sound money, and number of business mefI
had appealed to him to take UP this subject
and present it to the Board flTrade. 1t is
curious to note how closely the movement
that is now occupying so largely the atten-
tion of the country has followed the lines
laid down at that time In the course OF
his address before the board the following
reasons for action and suggestions were put
forth:
81 stand to present to you the urgency
and Importance Tor an action on your part
for which many thinking men of the coun-
try are now looking to you The sentiment
is abroad in the land. the business men are
discussing and the press is urging currency
reform. AS yet the ideas are only crude:
there are as many plans as there are writ
ers; but the agitation is continuous, and
opinions are being framed that will soon
take stubborn form and divide the people,
and the politicians will push them as im-S-
portant issues and the business men will
suffer by the disturbance and depression
lat are sure to follow. To avoid the drift
ng of these sentiments into wrong cham
nels it is of vital Importance that by con-
seryative measures they be led by safe,
strong hands very early into the right path.
The West will not take UP this cause; the
should not do so, and the central
st. by reason of its Importance as a fac
4 in the commerce of the country and its
geographical relation to the other sections
in which financial views are considered more
or less extreme. should act. For such a
movement to emanate from Indiana would
probably be more acceptable TO all parts OF
the country than for il to emanate from
any other State. No movement could or
should succeed that is not based upon the
broadest possible justice and intelligence,
and in the entire interest of the whole peo-
pie.
'Such investigation and framing should
only be intrusted to those who are great
enough to rise above all party relation and
prejudice to discard all former ideas when
confronted with better methods, and fairly
and honestly deal with the great questions
for the general good and for defense against
the instability of values, which has caused e
such immeasureable losses to the people OF .
this country within the few years just past
The business man is the victim of all such B
agitation, and / stand in his name to pro-
test with all possible emphasis against
further risk by delay, lest the opportunity
slip. Again L say something will be done
L. 5tVut flrclxr IN hesW
wrong as right in the early or superficial
discussion, and 1 present to you for action
tonight a plan that cannot do harm and
should lead up to stable things in com-
merce and relief from the racking strains
that the business man is periodically sub
1ected to by reason of the agitators con-
tinuous desire to change our financial sys-
tenn. l am thoroughly aroused to the corr
rectness of the position and the vital inn
portance of prompt or immediate actions
and If you can agree with me, then the duty
is plain, and l beg of you to forestall the
menace of early superficial action by di-
recting the minds of the people to broader
view of great subject by suggesting steps
that will surely put into good, If not perfect,
form the financial methods of the country
PRELIMINARY ACTION.
Mr. Hanna asked that steps be taken to
call a national convention OF ItpfSSctftet~
tlves Of boards of trade and other commer-
cial bodies, which shall in turn consider
the propriety of organizing a representa-
tive commission of able, conservative, trust
worthy men TO thoroughly study. canvass
and consider without limit instructions
all conditions and all currency systems, the
strength and weakness Of our own as well
as the valuable features OF all Others for q
the purpose of presenting TO Congress for
action these valuable features united With
such as may be of special importance for
our special requirements with the general
approval of the boards of trade and COM
mercial bodies OF the country. To cons
tnue the argument, IL is fair to believe
that such a carefully chosen commission
will produce acceptable results to the gem
eral public. 1t is reasonable TO believe that
the call for a general convention beina
made in the name Of the seventeen boards
of trade mentioned win command the re-
speet necessary for recognition. attendance
and participation in the general conventional