The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-04
NEWSPAPER OPINION.
Views of Some of the Leading Jour-
nails of the Central West

n0IS Oh the OeF1tEdtA OCSts
The report points the way and begins
the campaign of education. Let a measure
now be presented to Congress embodying
Upon that issue I'VE will go to the coun-
try.-Chicago Tmes-Herald (Rep)
1t dishonors the silver dollar and then in
consistently puts it on the same plane with
gold 1t gives the secretary of the treasury
absolute control over the finances of the
country. 1t bestows upon him some OF the
functions of Congress ana II plungeS the
government into the banking business more
than ever.-Detroit Tribune free silver.)
1t may be anticipated the plans, both as
to changes in the currency and banking
regulations, Will be violently assailed by
the advocates of fiat money, but the plans,
nevertheless. point in the right direction
and if not directly successful will be fol-
lowed by others along similar lines which
must ultimately succeed.-Pittsburg Com
mercial Gazette (Rep)
The system of note issue thus outlined
would be found to be safe and much better
suited to the needs of business than any
system of basing circulation on government
bonds can possibly be. 1t would prove of
special benefit to the South and West in
making it easier to supply the needs of
those sections for more currency, especially
as provision is made for the easy trans
formation of state banks into national
banks.-Chcago Record Qnd.)
Stated in the fewest possible words, this
plan is for the withdrawal of all national
legal-tender currency and the substitution
of bank notes which are to be a lien on the
assets Of the banks-which assets are most
ly the property of their depositors. The
people Will not consent to such change as
this. In spite of what the commission has
to say about the lack of safety of the
greenbacks, they will deem them safer than
bank notes.-ChicagO Tribune (Rep.)
Without doubt they have given to the
country an outline of reform that is sim
pie, conservative and practical. 1t may not
be perfect, but its general provisions, if
carried into effect, will meet the require
ments of the country, giving it a stable
and yet elastic currency a standard of
value unassailable and a banking system
elastic and adjustable to the demands of
the people A measure of inestimable value
to the nation ought to result from this able
report.-Detroit Free Press Qnd)
Everyone knows that there is not the re-
motest possibility of the enactment of this
plan. To thrust it upon the public there
fore is gratuitous and empty declaration
of the conviction of a certain class that
the currency system of the country must
be made over for the benefit of that class.
Its only effect can be to lend corrobora ton
to the assertion of the free Silverites that
the victory of sound money meant the in
crease of the bonded debt for the benefit of
the banks; to drive a large element OF the
voters that sHon the Republican victory in
1896 to the support of Bryanism. and to
thus weaken the maintenance of sound
money in the place where it most needs
ngthening.-Pittsburg Dispatch Qnd.
Rep)
All in all the report will command the
approval of intelligent friends of sound
finance. There is no question that if it's
main provisions were enacted into law it
would place our monetary system upon a
basis founded in the clear recognition of
the nature of money and its relations to
the government and to the people, and re-
move this question, not only from future
legislation but from future disturbance of
the material interests of the country. Cur
rency reformers--embracing the student of
monetary science. the business man, the
citizen who would protect national integ-
rity and promote national prosperity-can
and, we doubt not, viii subordinate differ
ences of detail and unite in pushing reform
along the lines here laid out.-Lonisville
(Soffriqr-TOiIrnal (SOuud-mOnay Dem \