The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-09-02

mittee of five was authorized. with
Chairman Butler at it's head, to can
vass the situation with other state del
egations and determine the best course
to be pursued. 1t was decided that in
case there was a probability of more
than one ballot that complimentary
vote should be cast for Secretary OIL
ney. In case there seemed to be a
probability that the convention would
agree upon a candidate upon the first
ballot, the Massachusetts delegation
VIII not cast a complimentary vote but
vote for the candidate the gold Demo-
Gratis intend to support.
Henry E. Lamb, a member Of the
committee on resolutions, was instruct
ed TO ask for the Incorporation of q
plank In the platform indorsing inter
hatlonal arbitration; a currency plank
oHered by Charles A Conant was
ADOPTED, and Mr.. Lamb authorized to
present 1T to the committee. This nIanL
is one which has received the inforsa
ment OF the treasury DEPARTMENT and
contains suggestions by Secretary Gar
Iisle, ana IS largely on the line which
ne mas advocated before the finance
committees in congress. It is as fol-
lows:
we recognize the fact that the axist;,r -
aency system OF the United States created in
PERIOD OF national stress is NOT haeed - -
serio1,s "nu sGientlnc principles, and requires
SIRIUS REVISION TO adapt it to the needs of
comnlerce and production The tendencp 81
e system Oh government paper money and
naCiohai bank notes, based upon bonded So
curlty, mas been to restrict Circulation Ubero
II was needed, to accumulate idle canitai IN
rev centefs, to subject the rate of intares 81
70 Unjust fluctuations, and radical ineoua lilies
III uIIefenl sections, to restrict ENTERPRISE ard
cripple industry, to make currencv soaroo ~
tlmes OF business activity and redunde nt ~,
plentlIui IN times and places where it was NOT
needed, and at such times to exneI tha s,1rnI's
IN tne form OF gold, the money of interna
tional exchange. - i,'ei nd
-, me gold standard has not been the cause
ILL., oI1 e4e Vlctlm OF these conditions The banks
also nave been the victims of laws not of
Cneir making the result of war necessities
anu nave incurred unmerited hostility he
S cause they nave been prevented by these
laws from rendering the services to agricuI
ture industry and commerce which shonId he
thelr legitimate and natural functions under
a proper currency system
We believe that the protection or +ho r,,.,.
credit against the results of aeitstion, far ~
oebasement Of the metallic standard has been
rendered doubly difficult by the defeetiye
standsd OF our paper currency. The gold
STANDARD has borne the odium of events for
whlch 1t is not responsible and which shonId
De directed against the vicious policy of gov
ernment paper currency, subject to perpetual
reissue. The sale of bonds for gold on four
occasions during the past three years has
oeen due to the fact that the existing cur
rency system has thrown upon the treasury
an obligation which should be Imposed nv
law upon the banks. This system of legal
tender paper has brought discredit and s1if-
Ierlng TO every people whos have resorted to II
and has been discarded by every civilized
state which has sought to place its currency
upon sound and scientific basis
we demand, therefore, that the initial stems
De taken for the withdrawal from circulation
OF the legal tender notes or for change OF
the existing system of redemption and re-
issue. And we demand, in order that there
may be no improper contraction Of the cur
rency, and that 1t may be capable of ready
adjustment to the demands of business that
the present banking laws be so modified as
to interpose no obstacle to the creation of an
elastic banking currency, subject to such con-
troll as shall insur uniformity, security and
redemption in standard coin on demand