The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1896-09-02
A FINANCIAL PLANK
10 be Presented to the Indian
apolis Convention.
GEpREsENTs OARLIsLEs VIEWS.

The Florida Delegation Enthusiastic fol
the denomination of President CIeve.
,land-The Convention Will Probabl,
Complete Its Work Tomorrow.
2 INDIANAPOLIS, Sept, 2.-Senator John
m. Palmer, of Illinois, chairman of the
provisional committee appointed at Chi.
oago five weeks ago, called the convention
Of gold Democrats to order at noon today
in Tomlinson hall
The conversion was opened wita prayer
BY Rev John White, the Episcopal bishop
Flower, who had been selected as tenn
porary chairman, delivered the opening
speech.
All the delegates have not yet ar
rived, and the indications nre that the
gathering will exceed expectations, both
in poi.-t Of numbers and states repre-
sented. From the lists In the hands
of Secretary Wilson it is certain that over
800 delegates will DO present, representing
forty-one or forty-two states and terri
tories. Considering the fact that the
original call for the meeting of representa-
tives Of ten middle western states was
only issued July 20, tho managers feel
that they have reason to feel proud of the
result of their work
The Massachusetts delegation held a
meeting yesterday, at which considerable
enthusiasm WAS manifested. There was
some talk about candidates, but no con-
Clusion was reached, and u committee Of
five was authorized, with Chairman Sigor-
ney Butler atits head, to canvass the stua.
tion with other state delegations and de-
termine the best course to pursue. 1t was
decided that, In case there was probability
OF more than one ballot complimentary
vote should be cast for Secretary Olncy.
In case there seemed to I've probability
shat the convention will agree upon tho
frst ballot, the Massachusetts delegation
will not cast complimentary vote, but
vote for tho candidate the gold Democrats
intend to support.
A currency plank, offered by Charles A.
Conant was adopted and Henry f. Lamb
authorized to present it to the resolutions
committee. This plank is one which has
received tho Endorsement of the treasury
department, and contains suggestions by
Secretary Carlisle. 1t is rs follows
ave recognize the fact that tho exist
Ing currency system of the United States,
created in u period of national stress, is
not based upon sound and scientific prin-
Ciples, and requires serious revision to
adapt 1t to the needs of commerce and
production
1.-THE tendency Of the system of govern
ment paper money and national bank
notes based upon bonded securities has
been to restrict circulation where 1t was
needed, to accumulate idle capital in q
few centers, to subject the ratio of interest
10 unjust fluctuations and radical inequal-
tties in different sections, to restrict en-
tsrprise and cripple industry, to make
currency scarce in times of business nc
tivity and redundantly plentiful in times
aud places where it was needed, and at
such times to oxpel the surplus in the
form Of gold, the money of International
exchange.
"The gold standard has not been tho
Ause, but the victim of these conditions.
The banks a!so have been the victims Of
laws not of their making tho result of
war necessities, and huve incurred un-
merited hostility because they have been
prevented by these laws from rendering
the services to agriculture industry and
commerce which should be their legiti-
mate and natural function under proper
currency system.
/ I'VE believe that tho protection of tho
publiocredit against the RESULTS of agita.
tdon for the debasement Of the metallic
standard has been rendered doubly diff
cult by the defective character of our
paper currency. The gold standard has
borne the odium of events for which it is
Rot responsible, and which should be d.
rected against the vicious policy of gov
srnment paper currency, subject to per-
petual reissue. The sale Of bonds for gold
On four occasions during the past three
years has been due to tho fact that the ex-
lsting currency system has thrown upon
ths treasury an obligation which should
BE- imposed by law upon the banks
ave demand, therefore, that the initial |
Bteps be taken for the withdrawal from |
circulation of the legal tender notes, or for
! change of tho existing system of redemp- |
hon and reissue. And we demand, in |
nrdcr that there may bo no improper con-
traction of the currency and that it may
be capable of ready adjustment to the de-
nands of business, that the present bank
Ing laws be so modified as to intcrpoSe Sc no
,bstacle to the creation of an elastic bank
ng currency, subject to such control as
hall insure uniformity, security and re-
lamption in standard coin on demand"
1t is not improbable that resolution
in favor of tho income tax will
Be adopted by the convention, 1t will not
,ondomn the supreme court at all, and
n ha n ti,n Of, al 1f,
Inlendod first, SO as to remove constitu-
tonal objection.
A general canvass among the delegates
N the question of including Il declaration
n favor Of bimetallisn by International
'grccncnt in the platform shows an ap-
,erently large sentiment against any al
usion to an international agreement.
There are fow delegates who favor such
declaration, but they appear TO he In a
ery decided minority.
There is a noticeable lack Of brass bands
nd shouting for candidates. The Florida
delegation, bearing alofta banner Of Prssi.
lent Cleveland were escorted to their
lotel by band of music, and marching
lub from Alabama came stepping along
o the stirring strains of martial music,
nut these were the only bands on the
treots yesterday. The delegates are COM
ng quietly, many of the delegations be-
ng accompanied by prominent Democrats
rom their states, They are worry much in
arnest and say they need no blare of
to feed their enthusiasm.
In personnel they arc confident that the |
e!egatcs will take rank with any who
svo ever had seats in national conven-
lon. Conspicuous in the convention will
. ex-governors, senators, congressman
nd others whom tho Democracy has hon.
red highly In the past. Not IL few of them
ut in the Chicago convention which nom.
aated Bryan and Sewall.
The suggestion Of Henry Watterson for
resident, which seemed to be in high
avor on Monday, seems to have gained no
round, The Kentucky delegation is
lodged to Buckner for vice president, and
he sentiment seems to be drifting back to
he original ticket suggested ut Chicago
l