Connecticut western news., 1896-09-03
FOR GOLD STANDARD.
THE THIRD TICKET CONVENTION
 MEETS AT INDIANAPOLIS.


 New York National Democratic Pnrty
 Sends . Full DeIsration-Empire States
 Declaration of fPrincipies-yermontG Goss
 Republican by . Large Majority.
 INDIANAPOLIS, Sept. 3.-Senator John NJ. Palmer of Illinois, chairman of the provisional committee appointed at Chi fago five weeks ago, called the con vention of gold standard Democrats to order In Tomlinson hall. Over 500 delegates are present, representing fl or 4s states and Territories Considering the fact that the original call for the meeting of representa- tives of ten middle western states was on- ly issued July 20, the managers feel that they have reason to feel proud of the rs- suit of their work.
 Ex-Governor Roswell P. Flower of New York was named by the national commit tee for temporary chairman.
 Among those now most prominently mentioned as candidates are Secretary J. Sterling Morton, Secretary Carlisle, Gen. eral John c. Black of Illinois, Senator Villas, Senator Palmer, ex-Congressman Outhwaite, and there Is still some talk of Senator Gray of Delaware Despite his firm refusal General Tracey of New York,
 
 cling to the suggestion of Villas, but the Wisconsin senator insists that the Badger state is for Bragg and that he does not de- sire the honor. David Lawler of Mime sota Is for Secretary Carlisle. The Ken tuokian's name Is received with favor, but there is an undercurrent of opinion that the nomination of any one connected with the administration would be unwise. The eastern delegates as a rule are taking no hand in the selection of the candidates They say they are willing to let the pre- vailing sentiment in the central, middle western and border states, where the main battle-ground Is, govern in this matter.
 The Carlisle Currency Plan
 A currency plank which Is receiving much favorable consideration Is one which has been indorsed by the treasury depart ment and contains suggestions by Score tary Carlisle. It Is largely on the line which he has advocated in the finance committees in congress. It is as follows.
 i've recognize the fact that the existing currency system of the United States, created in a period of national stress, Is not based upon sound and scientific prin ciples and requires serious revision to adapt it to the needs of commerce and pro duotion. The tendency of the system of government paper money and national bank notes based upon bonded security has been to restrict circulation where 1t was needed, to accumulate idle capital In few oenters, to subject the rate of interest to the fluctuations and radical inequalities in different sections, to re- strict enterprise and cripple industry, to make currency scarce in times of business activity and redundantly plentiful in times and places where 1t was not needed and at such times to expel the surplus in the form of gold, the money of international ex- change. The gold standard has not been the cause, but the victim, of these oondi- tions The banks also have been the vio- tims of laws not of their making, the re- suit of war necessities, and have incurred unmerited hostility because they have been prevented by these laws from render ing the services to agriculture, industry and commerce which should be their legit- innate and natural function under a proper currency system.
 '.we believe that the protection of the public credit against the results of agita- ton for the debasement of the metallic standard has been rendered doubly diffi- cult by the defective character of our pa per currency. The gold standard has borne the odium of events for which 1t Is not re- sponsible and which should be directed against the vicious policy of government paper currency subject to perpetual reis- sue The sale of bonds for gold on four occasions during the past three years has been due to the fact that the existing cur rency system has thrown upon the treas ury an obligation which should be im- posed by law upon the banks This sys- tenn of legal tender paper has brought dis | credit and suffering to every people who have resorted to 1t and has been discard | ed by every civilized state which has sought to place its currency upon a sound and scientific basis. We demand therefore that the initial I steps be taken for the withdrawal from circulation of the legal tender notes or for a change of the existing system of redemp- tion and reissue, and we demand, in order I that there may be no improper contraction of the currency and that 1t may be oapa- l ble 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 cur renoy, subject to such control as shall in- sure uniformity. security and redemption | In standard coin on demand"