The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-27

cattle, and while he has gone to Pennsyl-
vania, we still claim him as our own.
Uaughter.) So the Kentucky delegation is
glad to indorse every word of the resoIu-
lions, every word of the report, and. so far
of the speech.
Mr.. Chadwick. of Brooklyn. in speaking
on the resolutions, said: Il represent the
Manufacturers Association of Queens and
Kings counties, New York, an organization
that has taken up the question of sound
money for the past three years and given
1t full and careful attention. and when the
report of this commission was presented
to it it was discussed, and it COM
mended itself so strongly to that or
ganization that by unanimous vote res
olution was passed to indorsG 1t heartily
and in toto. / want to say that there is not
a single principle set forth in that report
that Is not based upon sound banking and
upon sound finance. The principle of
banking system, that banks should redeem
over their own counters their own specie
and bills, is embodied in this report; the
principle of the banking system of my own
adopted State of New York of a safety fund
IS also embodied in this report the principle
of taxation upon increased circulation, as
set forth in the Imperial Bank of Germany,
is also in this report. There is not, as l
have said, principle of sound banking or
sound finance that is not here.
The principle of the French banks, of
which l spoke one year ago, is also set
forth here, that principle which will equal
ize tho rate of taxation, as so admirably put
forth by Mr.. Patterson yesterday; it will
equaliZe the rate of taxation SO that per-
community will be able to borrow money
at the same rate of interest as those who
live in financial centers. (Applause.) AS
[ stated. if the report had set forth
would have been the redeeming feature of
any financial question that is before US. We
believe, sir, that it is necessary that action
should be taken. We are here with a united
front. We are all looking to that plat
form and that man who is chairman OF
the EXECUTIVE committee and made possible
Lei
mind him; let us stand behind the executive
committee: let US stand behind this con-
ventiOn, and do all that lies within our
power to make it possible to have this re-
port put into bill and made the legislative
action of this country. tell you, when all
the people are thinking along given line,
upon a common subject, the world moves,
and all that is necessary for us to do Is to
think all the timet and as hard as we can,
upon this subject, and Congress Will move.
(Applause.)
E. B. MARTINDALES REMARKS.
E. B. Martindale of Indiana, next spoke
upon the adoption of the resolutions, stand
ing in the Indiana delegation.
II have heard criticisms that it was pre-
sumptious on the part of the organizations
which started this institution TO institute
a great movement of this character" said
he There is a misrepresentation in regard
to this. The only fundamentally of the
Board of Trade and Commercial club or IN
dianapolis was simply TO meet, ana after
conference. decide that the work was Of too
much Importance to be undertaken by an
isolated body and asking fourteen of the
Boards Of Trade and commercial bodies of
the Central West to meet in the city OF In
dianapolis and then determine whether ac-
ton should or should not be taken. That
meeting was called and the gentleman who
now presides was a delegate and presided
over that preliminary meeting. Out OF TOUR
teen boards of trade and commercial DodleS
who were invited to take part in this work
twelve of them made appearance with Iull
delegations, and after a full conference II
4. ted To COLL
people belonging to the commercial organl-
cations of the United States to meet here
on Jan. Is That meeting was called ana
[ want to say to you, gentlemen, that it has
been my pleasure to witness three conven-
tions that have been held in this city. The
first was that of the National Democratic
party, and / must say to you that 1 never
saw a cleaner, more intelligent body OF men
collected in a political convention than at
convention of Jan. Is. You all know the
character of the men of which it was COM
posed. and now we have this convention.
and what are they? They are men coming
from the very pulse and throb of business
life in the United States. They are not
politicians. AS a rule they are not bank,
ers. They are generally manufacturers ana
commercial men who have intelligence ana
have ideas such as this country requires to-
day. The work of this commission has been
place. we made no mistake in
the man that we put at the mead or the
executive part of this business. He has Eiss
nearest friends and acquaintances, and ne
has taken hold of the work and has carried
it on as few men in the United states would
have carried it on, and it must be carried
on to ultimate success. (Applause.) we
first asked that Congress make this commits
sion a legal one. They declined to DO II.
We decided we would have the commission
anyway. That commission is composed or
a most remarkable body of men. There ism
man on the commission who would not
make a creditable secretary of the treasury
of the United States. They are men OF
brains. They are men or conservatism
They are men who reach out ana take IN
the whole breadth and scope of this coun-
try, and have undertaken to do work TOT
the whole. Now, gentlemen, may, with
my short acquaintance with this report
not having studied it as they have not nav
ing been with it night and day Tor hVe or
six months-see here something Wouiu
change j hope that we have no man III TINS
convention who is willing to set up MS
judgment and propose to make a change IN
this report, in view of the fact that Tor
five or six long months that work has been
in the hands of men equally competent with
any man who could exhibit his ingenuity
in attempting to improve it, If there Is
anything wrong. We stand here as petit
toners. We are not acting in any spirit OF
demand or arrogance towards the Congress
of the United States Mr. Fairchlld has
presented that matter as well as it could
be presented We are simply petitioners,
and that is right recognized in the num-
best citizen. We send our petition; we
frame our bill: we have performed work
that they would have been compelled 10
perform, and the only question IS whether
they are willing TO accept US as humpie
petitioners. / hope and pray that we Will
send that petition there with the unanimous
vote. L appeal to you let us pass it as they
have reported it,"
MR. CORNWELL'S SPEECH.
W. C. Cornwell of Buffalo. was the next
speaker, and he spoke as follows:
The question before us is on the adop-
ton of this report as whole. 1t would be
a remarkable thing if there were not some
things which could be criticised or some
changes which might be suggested in a sub
iect of so intricate a character as cur
rency bill There are people to-day who
criticise the whole Canadian system, which
has been in perfect operation for years.
There are people who can suggest some
thing better than the Bank of England and
the English system; meantime England,
through her sound monetary system, rules
the commerce of the world.
Now, gentlemen the recommendations OF
the commission are based on sound princi-
pies They will make the gold standard alb
solutely sure. They will wipe out those
curses of our system, the government notes.
They will give us a currency based upon
and secured by all the business OF the Wnole
United States and made as good as all the
wealth of the whole Nation, and that Is
what a bank note is that is based upon the
business assets of the bank, with guar
antee fund from all the banks besides. Be
cause the representatives of a nations bus
mess assets are gathered into nation S
banks, and they are better than the ma
tion's bonds in that if the business assets
of a nation are not good the government
bonds cannot possibly be, whereas the gov
eminent might go TO smash and the business
interests remain good and sound, as has
happened many times in the history of the
world We are starving in this country for
need of a sound system. | have given this
subject careful study for many years from
two sides, the economic and the practical.
/ Won as my earnest conviction, WalV-