davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25
THE ISSUE OF BANK NOTES.

The proposition in the bill Of the none
tary commission to base the circulation of
national banks upon the assets thereof
without requiring the purchase of United
States bonds should satisfy the demand
of the South. For years Southern papers
have demanded the repeal of the tax ON
state bank notes to the end that local banks
might issue notes on their assets. This de-
mand was slipped into the Democratic ma
tionai platform of 1892 and was considerably
discussed.
If the people and papers making that de-
mand were in earnest to secure local bank
circulation upon such conditions, they
should not object to the national supervi-
sion of such banks of ISSUE since such SUI
pervision would tend to give greater secur-
ity to noteholders and to give the notes of
such banks a confidence they would not
otherwise possess. 1t would also secure a
which long ceased to be confined to state
lines.
Paper representatives of money there will
always be. To insist that these shall be
issued and redeemed by the government is
a modern conception. Jackson's fight was
against the United States bank because its
charter conferred the power to issue notes
upon one bank. which made it possible that
it should be made great power in politics.
He would have seen in the assumption of
power by Congress to issue paper money at
its will a greater danger than the United
States bank. Jackson favored the issue of
notes by state banks, and under his policy
certain state banks were designated as de-
positories of United States funds. When he
did this he did not foresee that hundreds
of banks would be organized under loose
laws, and without supervision, which would
flood the country, as they did, with a vol
ume of paper which such banks had 10
specie to redeem. and which the men who
founded many of them never intended to
redeem. 1t may be claimed that land spec
ulation stimulated the organization of such
banks of issue. but there is reason to be-
lieve that the ease with which banks of
issue could be organized stimulated the land
speculation. AT any rate, the system Of
state banks went to pieces while he was
President, plunging the country into con-
dition of general bankruptcy, to recover
from which years were necessary.
Assuming that small number of intelli-
gent people would have the government as
sumo the entire responsibility of issuing and
managing the paper representatives of
money, the question is whether such issue
and redemption of the paper money of. a
nation shall be left to forty-fve States with
as many different methods, whether the
general supervision shall be lodged in a
bureau of the general government. When
an answer is given to the question (Which
will be safest and which will better insure
the redemption in coin of such bank notes?
it seems that there can be no further con-
troversy over the matter. The citizen Of
the United States will prefer that the United
States supervise the banks whose notes he
takes as money. instead of a State in which
he does not reside.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

platform. This persistence and aggressive
ness of the friends of free silver indicates
their determination 70 continue the fight for
the silver standard. If the friends of the
gold standard are true to their convictions
they viii proceed with equal courage and
determination and meet the issue by legisla-
ton as squarely and firmly as it met the
issue in the campaign of 1886. l am GER
taIniy in favor of making as strong ngnt
for the recommended tons OF the currency
commission as can be made, and of enactng
into law such provisions as VIII carry cut
the currency reform embodied in the Oil
prepared by that commission, which / have
had the honor 10 Introduce. While there
may be some doubt OF favorable action IN
the Senate, / think the responss-
bility now rests with the House.
the best effort possible to secure action by
the House at this session. even though the
measure fails in the Senate. | believe that
bill Will be recommended by the banking
and currency committee which will embody
most, if not all, of the recommendations of
the commission and that the same Will be
considered by the House. If we should un-
dertake to succeed in this we will have
carried out faithfully and conscientiously
even if we are defeated we will not be con-
quered. This scheme of finance is already
recognized as the Indianapolis plan. II had
it's inception inslndiana, and the movement
has been managed by an Indiana man. The
State need not be ashamed OF the reputation
it has achieved by the prominence given II
in this movement. 1t is certainly compi-
mentary, not only to the men who have
been the prime actors in the movement, but
has given the movement such hearty sup
mort
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25
Mr. Crawford. of Texas.

The far South is ably represented by NJ. l..
Crawford. of Texas. Mr.. Crawford was not
only a Confederate in the war, but was also
a party Democrat until the money question
came before the people, when he took sides
with the gold wing of the party and attend
ed the Palmer and Buckner convention in
this city. He is very much an advocate Of
the gold-standard platform adopted by that
convention, and says that the commissions
report is evidence, to his mind that the Re-
publican party is taking up with that plat
Iorm lie Is a member of the executive
committee of the conference and has done
what he could to encourage the sound
money sentiment in his States, but he re-
grets to say that it is quite evident that
the people of Texas do not favor any re-
form unless free silver is tackled on to il.
j have been prejudiced against bank
note issues based upon assets, said he.
but after reflection ana consideration of
the provisions of the bill / have concluded
that every note issued under the proposed
plan or the commission would be just as
good as a bank note is to-day. | believe
now that the plan is not only practicable,
but 1t Is the best that can be obtained now
1t Will secure more equal distribution of
currency in the country, and the banks of
my State will be enabled to supply the needs
OF the patrons by issuing money on their
own assets without being compelled to bor-
row it. -
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

Why should one saloon keeper be singled
out for prosecution for Sunday selling when
it is a well-known fact that the back doors
of many saloons are open most of the day
every Sunday? And if the case is as the
arrested man states, why should saloon
keeper entertaining his friends in his.private
apartments be raided when others are per-
mitted to keep their places practically open
all day? Has our boss adopted the tactics
Of the boss of Tammany, by permitting
most men to violate the law for a price
while another is hauled up and punished?
Has he been arrested because he has re-
fused to pay the price of law-brealxing with
impunity, whatever that price may be in
money or service? Really, the arrest of one
small offender among SO many big ones is
calculated to provoke comment.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25
WILL GIVE FARMERS MONEY.
A Reason Why ImpIement-MaISer Os-
borne FaVors the Plan.

IT. NJ. Osborne. of Auburn, N. Y, mem
Der of the firm of d. NJ. Osborne & Co.,
manufacturers of farm implements, repre-
sents the Business Mems Association of
his city. Owing to the character of his bus
mess he has intimate relations with farm
ers all over the country and can appre-
ciate the fact, as he says. that the farming
community does not possess the banking
facilities that it needs. He said:
Il believe that the plan outlined by the
commission is one which all business men
in the country should support. What par
ticularly appeals to me in the plan is the
fact that it will secure to the country COM
munity the relief from the currency strin-
gency that it feels. believe when the farm
ers realize this fact they will give the plan
their earnest support. The greatest OBJ
stacle to be overcome is the ignorance of
the people in general as TO the laws of
finance. As a means of education, our firm
is making a practice OF paying it's en-
ployeS in gold and l think that this custom
is having good results. The favorite ar
gument of Mr.. Bryan, when he calls for
some man in the audience who has a gold
piece and then declares that gold is the
money of the rich and silver of the poor,
will not be as effective in Auburn as it
was in some communities in 1885,
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25
ALL FOR THE REPORT.
(Concluded from First Page0

form if calmly fold our hands and make
no effort to win. That isn't the way that
POLITICAL or any other contests are Won.
There were a good many sound-money men
who feared that Bryan would not be de-
feated in 1896, but they didn't say so. They
pulled themselves together. effected thor
ough organization and began Il campaign
of education that resulted in the election
of Mckinley by a handsome majority. 1t
we expect to win our fight for currency re-
form, we must adopt the same methods
The more the cause is understood the
stronger it grows. If good comprehensive
bill is reported from the committee on
banking and currency, [ believe it will pass
the House by fair majority 1t will be
time enough to consider the Senate when
the House has taken action.
DO you think the committee Will report
q currency bill?
may be month before the committee acts,
but there is every reason to believe that
a majority of the members strongly favor
reporting a measure of some character.
do YOU think that the bill to be reported
BIN By the committee VIII be the commission ;
ton that the main features of the commits
sons bill are generally acceptable to such
members of the committee as are favorable
to currency reform. 1t is not unlikely that
the bill reported will be a composite Meas
ure embracing the material points of the
commissions bill with such additions as
the committee may think necessary to
strengthen it in certain Details
And you think such a BILL II reported
by the committee, will pass the House?
1T might not pass the House to-day, for
a good deal OF Indifference exists at present
on any measure of reform. l think, how
ever, that when our educational campaign
begins and certain gentlemen in the House
who now look with disfavor upon any prop
oSitiOn to change our monetary system,
study the subject more carefully and satisfy
themselves that the business community in
their respective districts desire such legis-
lation, they will fall gracefully into line and
give it their support
And the Senate. what of that body?''
1--WE have a hard fight before us in the
Senate, but if public opinion manifests it,
self as strongly in favor of sound money
as during the silver repeal fight of 1893, a
currency reform measure will pass by d
cafa ma iOritVp
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25
John c. RuIIitt Hero.

John c. Bulltt of Philadelphia, who was
one of the prominent members of the last
conference, is in attendance upon the pres
ent one. He said last night that the work
of the executive committee in endeavoring
to get congress to pass an act to appoint a
monetary commission was done in the most
efficient and businessike manner. Il re-
greet said he, that Congress did not act,
but as 1t did not appoint a commission, L
think the committee did the next best thing
in appointing commission of its own. The
committee made very wise and judicious
selection of members for this commission,
and think that the report of the commits
sion is a very able document and that il
the proposition which they mention can be
enacted into law it will result in bringing
about most wholesome reform. What can
be done in obtaining any legislation, of
course, is problematicaL L believe that cur
rency reform is gaining ground all over the
country, and that The necessities of bust
ness are gradually directing the minds OF
the people to the thou~ht that something
must be done to rectif the present irregu-
lar and unsteady system"
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

The determination of Representative Henry
u. Johnson not to be candidate for renom-
ination is q matter for sincere and general
regret. No Indiana congressman in recent
years has made a better reputation for him
self or brought more credit to the State
He has taken the right stand upon all i'm
portant public questions and if at times his
side was not the popular one his courage in
supporting it was none the less file has the
courage of his convictions, indeed, to a
marked degree, and no trait is more de-
sirable in congressional life. A represent
alive OF conscientious purpose becomes in
creasingly useful to his district and State
with each additional term of service. and
it is the part of wisdom to return him. With
this Congress Mr.. Johnson will have served
four terms honorably and well. and in re-
firing will leave the public in his debt. His
withdrawal is a matter OF which he is the
final Judge but other men in Congress
could be better spared.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

The address Of Judge Taylor before the
Columbia Club last evening was a strong
statement of the conclusions at which the
monetary commission. of which he was
member, arrived. and the reasons why those
conclusions should be Incorporated into law.
It is so admirable presentation and con-
densation of the case that 1T would be pre-
sumptuous to attempt TO emphasize any of
its points. The Journal has already COM
mented upon features of the plan, which
has SO commended itself to the friends OF
q sound currency that there appears to be
q very general acceptance of it by all the
friends of a sound and flexible currency
II Is so comprehensive system that its
enemies do not attempt to refute it's gem
eral provisions. All that they offer is de-
nunciation, because its purpose is to make
permanent IN this country the monetary
basis of the commercial world. instead Of
one which will put us on the monetary bas-
is OF China and open not only the minis but
storehouses Of the government TO the de-
presiated silver OF the world Judge Taylor
believes that the Republican party in In
diana should take courageous stand in
favor OF "A sound currency and the general
features OF the plan Of the monetary COM
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

of papering its walls with farm mortgages
year.
1t has not yet been announced that the
management has acceded to either of these
requests. Nebraska is the State in which
Mr.. Bryan's family resides. 1t is, more
over. a Demo- Populist State, and possibly
the transmississippi exposition may depend
to some extent upon the kindly disposition
of Populist executive and mixed Legis-
lature for an appropriation to exc out the
generous allowance of Uncle Sam. 1t can
be conceived that Populists and Bryan
Democrats may regard mortgages which
have been Cancelled with a very unfriendly
eye. Unpaid mortgages have been their
stock in political business. Overdue mort
cages have been a political asset of great
value, and foreclosed mortgage was con-
sidered a vote-getter of unprecedented
power. Nebraska, moreover, is the seat of
the Bryan wail-of-woe factory. He goes
forth from that State into the outer world
to wall of poverty and woe at 500 a wall.
He returns with his pockets stuffed with
the equivalent of gold dollars, and, hav-
ing no mortgages to pay off. salts it
down. to use significant figure of COM
mon speech.
There is possibility, even probability,
that these political purveyors of poverty
who are in Office will object to the exhibit
ton of a carload of paid Kansas mort
cages and a room papered with the can
celed mortgages of York county, and will
prevent it if they can Indeed, one should
not be surprised to hear that the calamity
ties will denounce the exposition if it is to
be used to display evidences of prosperity,
particularly the evidences of discharged
debts. AT best, an exposition presenting
the development of a county is a menace
to Organism.
One day last week a Washington dis
patch announced that certain silverites, in
GLIDING that many-times millionaire mine
owner, Senator Stewart, were about to put
theatrical company on the road to pro-
note the cause of the 45-cent dollar. One
of it's tragedies would bear the title, 1.-The
Curse of Cold Whether this is in indica-
ton that Mr.. Bryan is on the wane or that
something wild, weird and death-dealing is
necessary to galvanize the semblance Of
life into the 16-to-1 heresy it is unnecessary
to discuss One is at liberty to draw his
own differences.
In connection with the Kansas carload of
Cancelled mortgages and the walls of the
room papered with the paid mortgages of
York county, Nebraska, and the silver
mine owners theatrical company, the, Jour
nal wishes 10 make a suggestion. 1t is that
the Cancelled mortgages travel with 1.-THE
Curse of Cold as a variety show, in which
the Curse" aforesaid and the spoiled mort
cages hold a joint debate, dividing the
time. First, an act of The Curse of
Gold;' then an exhibit of some feature of
the discharged mortgage since the curse
was confirmed in 1896 And so on to the
end-an act of the curse and then display
of mortgages paid and dead, until the cur
tain shall be rung down.
=
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

Those who are taking interest in the
proceedings of the Senate upon the Teller
resolution will be particularly interested to
note the vote on the Nelson resolution,
which reads as follows:
1t is the duty of the government of the
United States under existing laws to main
tain the parity in the value of its gold and
silver money, SO that the dollar of the one
metal shall for all monetary purposes al
ways be equal to the dollar of the other
metal.
This proposition puts the Tellerites in a
close box, but it is not possible that they
will go on record against it. And yet when
they do they practically give up their en-
tire case, since if there is already money
enough in circulation, why is it necessary to
double the debt-paying wealth of the owner
of silver bullion by free coinage? If they
do vote against the amendment, they admit
that it is their purpose to change the coun-
try to silver basis and a cheaper dollar.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

Very few delegates from over the State
of Indiana had reached the city yesterday,
but among those who came were ID. y.
Johnson, editor of the Richmond Item, Ru-
fus Magee, of Logansport, and Charles Me-
Culoch, of Fort Wayne. Mr.. Johnson says
that he expects a larger representation
from the State than a year ago. He re-
marked that it takes a great deal TO over
come the inertia or constitutional passivity
of the people in bringing about any reform,
but that it is his experience that very
marked Improvement is to be noted in the
sentiment of the people in the eastern
part of the State since the campaign of
education was inaugurated. He said that
there is an active and genuine interest in
currency reform now, whereas year ago
the attitude of the people regarding it was
very negative in character The business
men are now alive to its Importance, while
year ago only "a few who had made a
study of nnance saw its necessity, said he.
There is a general feeling now that some
steps forward must be taken.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25
senator Lodge warming Up.

Charles c. Jackson who Is one of the
Boston delegates, in little talk yesterday,
said that the people of Boston are very
much pleased because Senator Lodge is taxi
ing up currency reform in such an eager
way "The senator said Mr. Jackson,
''has expressed himself as being glad that
Mr. Teller had introduced his resolution,
and this for the reason that it brings oat
sharply and clearly the necessity Of another
conflict against the silverites." MIR. jack
son continuing said that the sentiment in
favor of the retirement Of greenbacks has
grown rapidly in Boston In the last year,
and that the banking provisions Of the COM
missions report are being received very fa-
vorabiy. it being generally recognized that
the agricultural communities nave been by
national banking laws unjustly deprived OF
the proper means of securing the currency
their business needs
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25
banking Feature the vital one.

A college man of much force in the COIL
ference is j. w. jerks, professor of politi-
cal economy in Cornell University. lie said
yesterday that he gathered from talking
with many delegates that they were laying
more stress upon the provision of the re-
port emphasizing the gold standard, but
this provision to his mind was only of
secondary Importance. I'VE have practi-
cally a gold standard already" said he,
and what seems to me are the most vital
features of the report are those relating to
the banking system. In my judgment the
banking system recommended by the COM
mission if made into law, would do more
to improve conditions in the South and
West by meeting the real needs of those
sections for more money than any other
measure that has been proposed The de-
mand of the South and West for free sill
yer is caused by real need for more
much toward satisfying that need"
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25
THE CANCELLED MORTGAGE AND
THE CURSE,

Some weeks since it was announced that
enthusiastic Kansans, DESTROYS of booming
the sunfiower State in the Omaha EXPOSE
ton, had asked for space in which to ex-
hibit the record of mortgages which have
been paid off in that State during the past
year. and that they have set about the
task OF collecting the deeds and records
Now the people of York county, in Ne
braska, the state which Mr.. Bryan calls
mime" have applied to the management
of the transmississippi exposition for an al
lotment OF a room to them for the purpose
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

tablishing the currency on a sound basis
Many of the most intelligent men IN the
country" said he believe that we can
have no permanent prosperity until the cur
rency question is settled. To illustrate,
there is to-day. except in a few favored To-
calities practically no value whatever
to real property This condition cam
not be remedied until we have yard
stick to measure with. the length or
which we know. The commission )
plan should be adopted, because IL IS
the right thing to do. and because the Re-
publican party, by its leaders in the last
campaign, pledged itself to currency reform.
and thereby secured the support of the
sound money Democrats. without whose
votes 1t could not have won the victory. IL
is my belief that when this question is set
tied We will enter upon period of PROS
perity the like of which has never been
known before
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

When Tod comes marching ONE hagain,
'Urrahi 'UrraE!
Wen give i'm a 'earty welcome then,
Urrah. 'Urrah!
The boys will owl, the men will shout,
The ladies will get their lorgnettes
hout.
And we'll all talk oss when
Tod comes marchin' 'ome.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-25

The Grand Opera House was yesterday
afternoon put in order for the convention.
The decorations, while not of a lavish char
acter, are very attractive, ard consist OF
flags and palms. over the stage a great
flag is draped in a semi-circle and the
proscenium arch is bright in the national
colors The wives of the delegates will oc-
cupy the side boxes of the theater. and the
public those having admission tickets. will
view the convention from the balcony and
gallery In the lobby of the theater check
ing counters have been placed where the
delegates may leave their hats and over
coats. Those in attendance Will take espe-
session.