The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-10
WITH THE PLAN
PROMINENT MEN EARNESTLY IN
DORSE THE MONETARY REPORT.
"SpIendid in Every Particular"
Manager-Mr. Fortunes Views.

Letters indorsing the plan of the none
tary commission are coming to the head
quarters of the executive committee in this
city in large numbers. John Harsen
Rhoades, one of the biggest savings bank
managers in the country, writes from New
York, giving his unqualified approval to the
report John M. Nelson, of Baltimore, the
successful manager OF Hambleton & Co.,
wires that the plan is splendid in every
particular"
]. o. Bloss, of New York, writes: ITO
my mind it is one of the most sensible con-
tributions to the currency question that it
has been my fortune to see, and l sincerely
trust the efforts to secure the passage OF
a law on such lines will be successful"
Prof. J. d. Forrest, of the University of
Indianapolis, writes from Irvington: Il
have read the report with very great inter-
est and heartily indorse all its recommen-
dations with the same reservation that
Prof Laughlin makes I sincerely hope the
essential features of the report may be en-
bodied in legislation before Congress adj
journs."
George P. Sawyer, of Buffalo, writes:
1.-THE Buffalo papers have all commented
favorably upon the report, and there is
distinct determination upon the part of in
nuential people here to see that the mem
bers of Congress from this end OF the State
shall be active coadjutors III the work to
be done in Congress to secure its adoption"
Francis II. Homer, of Baltimore, writes
II have not quite firished the perusal OF
the report, but assure you that am
more pleased with it than with anything
I have recently seen on the financial ques-
ton"
Dexter M. Ferry, the big seed dealer Of
Detroit and chairman of the Michigan Re-
publican state committee, writes: 80 far
as L have perused it, it sen.es to cover every
essential point in the monetary question
that is now agitating the country. In many
respects the recommendations in the report
meet the wants Of the country admirably"
George w. Landon, a prominent merchant
of Kokomo, writes: while I have formed
some views in relation to greenback circu-
lation and our present form of banking that
differ in some respects from those advanced
by this report, still am free TO confess,
after thinking the subject over carefully,
the ideas therein suggested may possibly
reach more satisfactory solution in the
plan outlined than those held by me, and
| see nothing in the roper. to which Thn any
plan is patriotic one with the idea of serv-
ing the country best good.
PRESIDENT FORTUNES VIEWS.
William Fortune, president Of the Indian
apolis Commercial Club, when asked by
Journal reporter for his views on the ques-
ton of legislation, said
1T is undoubtedly the expectation Of the
country that Congress. will do something
toward remedying the defects in our none
tary system which have brought upon us
SO much trouble. Failure to provide a rem
edy will show either that Congress is in
different to the situation or that it is in
capable of meeting the expectations which
influenced the votes of majority of the
people of the country at the ELECTION in
1856. The already prolonged delay in acting
can be excused only on the ground that it
was desirable 20 await the results of the
work of the commission representing the In
dianapolis monetary convention. While the
necessary demands growing out of pro-
longed stagnation of trade have caused in
creased business activity in the last several
months we are not experiencing the pros
perity we would have if the governments
finances and the money question were not
still In doubt. There will continue to be
apprehension and extreme conservatism
until these questions are settled. 1t is
within the power of Congress to apply the
needed remedies. If the present session
ends without the accomplishment Of any
thing 1t Will be o..3 of the most miserable
failures in the history of our country and
the least deplorable of the results will be
the certain rebuke which will fall upon the
men who will be responsible for the failure.
The dire consequences of such a setback to
business interests do not form a cheerful
prospect. 1t is largely the stimulus of hope
that is sustaining present apparent pros
perity, and if Congress strangles that hope
we will be left in a far worse condition than
confronted us in 1896. If there should be
failure ii will demonstrate that there is a
weakness in our political system that is
more serious menace to the country than
even defective monetary system 1t is
certainly unfortunate for the country that
there should be in Congress so many small
minded men whose disgusting clamor over
political spolis indicates that ii is their chief
thought rather than the solution of the
problems of government which involve the
prosperity and welfare of the whole coun-
try, but these men will yet learn that there
are more important things for consideration
than the wishes of office-seekers-tha this
is a government for the benefit of the people
who support the government, rather than
for the benefit of the people who want the
government to support them