Wednesday, March 20, 2013
JANUARY 25, 1898 – SECOND INDIANAPOLIS MONETARY CONVENTION BEGINS
1898 – SECOND INDIANAPOLIS MONETARY CONVENTION BEGINS
Billed as a grassroots effort for monetary reform, the second convention brought together nearly 500 representatives from 31 states. It was a follow-up gathering of major corporate leaders (including many bankers and economists representing leading corporations) to the first convention held a year earlier. Participants advocated for a privately run national central bank. Just as the proposed national central bank was misleading (to be privately controlled), the first and second Indianapolis Monetary Conventions were equally misleading. They were hardly “grassroots”, yet the image was useful when lobbying Congress and communicating with the public.
Posted by Greg Coleridge at 12:56 PM