The record-union., 1898-07-25
Chairman Hanna of the Monetary
Commission
Issues a Statement to the Business Men
Of the Country.
The Present Status Of the Under
taking to Secure a Comprehen-
sive Currency Law Encouraging
Beyond What Was Expected.

INDIANAPOLIS, July 24.-Chairman
Hugh H. Hanna of the Monetary Com
mission has prepared statement ad-
dressed to the business men of the
United States setting forth the results
of the work of the commission during
the last session of Congress. he says:
1.-The present status of undertaking
ITO secure a comprehensive currency law
is encouraging beyond what was ex-
pected. In truth, the remarkably
prompt appreciation of the value of
organized effort, and the realization
that the opportunity is at hand, has
resulted in a very gratifying progress.
THE bill as finally agreed upon and
reported to the House has been very
generally approved by almost every
one supporting the effort to accomplish
comprehensive monetary legislation.
The bill includes all of the elements
recommended by the monetary commits
sion, but the detail of the method diff
fers in some respects radically. On the
whole, the; bill reported by the COM
mittee is a greater step in the right
direction than the business men had
reason to expect at this early stage in
the progress of the work.
THE passage of this bill will be the
beginning of law for the best currency
in the world OF course it is possible,
and probable, that there may be objec-
tion to the details of the bill and
changes made before approved by both
houses of Congress, but the encourage
ment is so great that all business men
who recognize the extraordinary oppor-
tunity are warranted in absolute unity
of effort henceforth to the final sue
cess of the consummation.
1.-THE avoidance of dissension in dis
cussion among the friends of this
character of legislation upon the ques-
tion of consideration seemed desirable,
and it became question of expediency
While appreciating the force and in
fluence upon the next election that
would surely have followed if an af-
firmative action could be had during
the session just closed, the committee
is glad to assert at this period that,
everything considered, the present
status is probably more favorable to
ultimate legislation than would have
been the case had a few of the Re-
publicans in the House disapproved the
action sought during the session.
ITO measure the present condition it
every reason to believe that the Presi-
dent and all the leading Republican
Senators and Congressman and the $50
members Of the House who signed the
petition now stand united in support
Of the general principles Of the com
mittee bill. There is every reason to
believe that Mr.. Reed will be an earn
est advocate of monetary legislation.
There is every reason for the mem
bers Of this organization to entertain
positive hope and to arouse the most
determined spirit and effort to con-
tinue the struggle so unsuccessfully
made to this stage Of the work 1t was
well understood that the effort made
for the action in the lower house dur
ing the session just closed was for the
particular purpose of making a demon
stration Of good faith on the part Of
that branch Of Congress. This, it was
believed, would inspire new hope and
unite the men in the country in an eff
fort to secure in the November cleo
tion not only the continuance of the
control by the Republican and sound
money element OF the lower house, but
to overcome the majority in the Sem
ate now held by the financial money
people and thus make sound money
possible. No such legislation can be
enacted until both branches Of Con-
gress are in control Of the Republicans
and sound money Democrats.
plans will be formulated in due
time, in order that the business men
OF the country may supplement the
regular organization for work in the
weak legislative and Congressional
Districts. II. H. HANNA"