Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-09-22
LET IT GO AT THAT.
Organ Regarding the Amateur In-
dianapOlis Finance Tinkerers.

Remarkable Admission ny Goldits
Organ Regarding the Amateur In-
dianapolis Finance Tinkerers.
The New York Evening Post il de-
lighted with recent tokens that the
Indianapolis monetary movement sur
wives the clash OF arms, and that il
promises soon again to be in the sad
die. But in treating of its mission and
accomplishment to date it makes some
remarkable admissions. After stating
the self-evident proposition that "ths
subject it had to deal with was diff
cult one to understand" 1t says ait
was necessary, in great part. to edu-
cate it's own members. 1t declares
that 'sbut few, if any. of those engaged
in the work have failed to gain instruc-
ton in financial science, in their en-
6eavor to impart it to Others" And
it further remarks, with disingenu-
business altogether charming, that
some of those who are now most ad-
mirable and efficient in carrying on
the work "owe their whole training as
economists to the education they have
here received"
We fancy that Mr.. Fl. 81. Hanna, who
is sponsor for the Indianapolis conven-
ton and its work, will stand aghast
when he reads this Characteristic of
the thing in so orthodox single
standard organ as the Post. A kinder
garten, fors ooth-or summer school
at best-drinking financial wisdom at
the Indianapolis pool and then set
ting out upon the mission of convert
ing country to theories and tenets
that were confessedly new to most OF
the members when, in response to the
call of the bankers, they packed their
gxips and went down to Indiana's cap.
It'll.
Did anybody ever hear of anything
more grotesquely absurd than that?
Tt will be remembered that this
school of amateur financial doctors
evolved an elaborate scheme of fiscal
reform, condensed it into bill for an
act, and had it introduced into the
house, with a favorable recommends.
ton from the committee on banking
ard currency-when the war broke
out and dashed the designs of the ad.
ministration leaders to rush 1t through
under spur of the party whip.
They capitulated, but didn't sur.
render, and are now again actively at
work upon the scheme of taking the
government out of the banking bust
ness, and vesting the sole power to is
sue and control the currency of the
country in the hands of the national
banks. The currency question is sim
pie enough, and primer would be
sufficient to make clear everything
about it that may to the dullest intel.
lect appear reconcile. But these finan-
cial thinkers have just issued a book, OF
600 octave pages, to elucidate the COM
posite theory of the Indianapolis con.
vention- which, reduced to original
elements, is that the government
doesn't know anything about money,
and can't be trusted to control the cir
culation, but that the national bank.
ers are the embodiment of all fiscal
wisdom extant, and to them should be
delegated the power to create, diffuse
and contract the money of the country
at will!
A skeptic as to both sides of this
proposition, we ask for no other char.
acterization of the Indianapolis con.
vention than has been volunteered by
the New York Evening Post, the high
chief apostle of currency reform-that
it was composed in the main of men
who were ignorant of the primary and
fundamental truths underlying the
science; that it was necessary to edu.
cate them; that 'sfew, II any, of those
engaged in the work but have gained
instruction in financial science in their
endeavor to impart it to Others" and
that some of them towe their whole
training as economists to the educa-
ton they have received"
Let it go at that.-Los Angeles Her.