The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-08
WROTE TO SPEAKER REED
LETTERS URGING LOWER HOUSE TO
PASS A CURRENCY BILL.
Indiana Wants Congress to Act, Says
Commander Dodge, of G. A. r.
what Jacob l.. Greene said.

The executive committee of the monetary
conference is in receipt of many letters re-
fiecting the feeling of the business commu-
nifty in regard to urging the House Of Repre-
sentatives to pass a financial reform meas
ure at this session. Yesterday the commit
tee received copies of two letters that have
been sent to Speaker Thomas B. Reed. One
of these is written by Jacob J.. Greene,
president of the Connecticut Mutual Life,
Of Hartford, and is as follows:
The press dispatches indicate that there
Is disposition among Republican congress-
men to rest for the present upon the House
vote on the Teller resolution. May | say TO
you how vain and dangerous Il course that
would be in my Judgment. Tt is all right
10 Kill the Teller business. 1t Is all right
to declare for gold straight out if you can.
But that doesn't end the light, nor by one
hair minimize the ultimate danger to the
gold standard. The only road open is TO
make an end of those things which make
Tor the destruction of the gold standard
and will continue to do so until they are
out of the way forever. These things are
three: The existence of the legal-tender
greenback with it's constant suggestion Of
power in the government to issue them in
any quantity, appealing nightly to those
sections where money is scarce and sound
thinking quite as much so; bank currency
so lnftex1ble by reason of its basis in ana
relation TO the government debt that 1t
cannot and does not respond to CONNER
cial demands and which cannot be issued
in those sections where it is most needed ;
the prejudice against the banks created by
the conditions just mentioned, disposing the
unthinking and impatient to go TO the gov
eminent direct for currency or to any
abundant source-as silver-rather than de-
pend on the banks acting under system
which has been absolutely outgrown by
present conditions.
Business men are coming to see all these
things clearly. They are understanding
what has been and is being said to them.
And nothing is more certain, and know
whereof / affirm, that this educational pro-
cess is going on with great rapidity. And
the minds of these men accept the Over
street bill as the clear logic of the situa-
tion and they are satisfied that nothing less
than it's provisions will permanently remove
those dangers to the standard, of which
they are getting nightly tired, and provide
a currency free from political as well as
financial dangers and adequate to the wants
of trade at all times, and that will allow
bank capital and its secured currency to
go freely where it is most needed ana
when it is needed. This bill meets the con-
ditions West and South, and will kill the
honest part of the free-silver craze there.
National banks will probably oppose this
or any substantially like measure, because
it will require a reimbursement of their rou-
tine. But the commercial world will be sat
isfied with nothing less. 1t Is only ques-
ton of time, when, after how much more
trouble, and by whose hands, they are go
ing to get it. God grant that the Republic-
an party may have the courage to act on
it's ancient faith that the sun doesn't get
half way up and then stop rising"
COMMANDER DODGE'S LETTER.
]. s. Dodge, state commander of the G. A.
r., wrote the second letter to Speaker Reed
in the hands of the committee. This letter
is as follows:
Having been in nearly every county in
the State during the past year, and having
had occasion to listen to the talking of pol
tiles in nearly every locality. and especially
among the ex-soldiers, and having been re-
quested by our county central committee
to write you in reference to my estimation
Of the influence of financial legislation on
politics in this State, permit me to say
that l am firmly convinced that the senti-
and enthusiastically in favor of sound
and stable currency, and they are also in
favor of the Congress of the United States
passing a broad and comprehensive meas
ure embodying reform and placing 1t be-
yond the possibility of uncertainty as to
the worth of our circulating medium. And
they are almost of one mind upon the prop
osition that the lower house should pass q
bill of this character regardless of the fate
of the bill in the Senate, thus placing the
responsibility directly upon the shoulders
of the Democratic party, if such a measure
fails to become a law. All of the eX-sol-
diers of this State with scarcely an eXcep-
ton, are in favor of this kind of legisla-
ton and it is our earnest wish that our
representatives in Congress use every eff
fort to procure clear and comprehensive
legislation along these lines