The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-12-02

Initiative Taken in an Important move
ment-Many Men Eminent In Business
and Politics Present-Plan to Take Money
Question Out of Politics-National Con-
ference to be Held.
Indianapolis, Dec. with the ex-
ception of Louisville and Kansas City,
all the cities invited to attend the pre-
liminary monetary conference under
the auspices of the local board of trade,
with view to holding a national mon
etary convention reported to-day. The
conference was called to order by Pres
ident Adams of the local board of trade
at p. IN. Mr.. Adams after explaining
what prompted the issuing of the call
and stating that only the boards of
trade and commercial bodies of what is
known as the central west had been in
vited to attend, said:
This conference will consider the
advisability of issuing a more extended
call for larger convention of the COM
mercial bodies of the principal cities
todiscuss the question of what ought to
be done to cure the radical defects in
our monetary system, and if deemed
practicable and for the best interests
of all, to create bipartisan commits
sion composed of able, experienced and
fair minded business men, whose duty
shall be to formulate a plan which will
present cumbersome and defective sys-
tenn, place the finances of the nation
on sound and adequate basis and pre-
| ant ftn l>.l q
| tary disturbances
| He declared that the people very re-
| Gently showed that they were unalter-
ably opposed to cheap money, and said:
| I'VE must not take this expression of
| the people as a final settlement of the
issue involved, but rather as protest
against step backward Between the
lines of the returns ofthe recent cleo
t1on there is shown pronounced pub
lie sentiment favoring currency re-
form and removal of whatever de-
fects that may appear in the present
currency system The time has now
! arrived when the government must
either discontinue the banking busi-
ness, with it's expensive and complicat-
ed system, or go into it on broader
better defined and more comprehensive
scale.
/ 10 determine the best course to pur-
sue and apply remedial legislation that
4 will provide the great nation with a
sound, uniform and elastic currency,
whether it be gold silver or paper is
the paramount question which will
claim the best thought and best judg-
/ ment of the conference which you are
about to consider the propriety of call
ing. The attention Of the country is
centered on this gathering"
Each commercial organization was
allowed three votes. Ex-Gov. Stan
nard of Missouri was made permanent
chairman; Secretary Smith of Indian
apolis was made permanent secretary.
Mr.. Smalley of st. Paul offered res
elution to the effect that call be is
sued inviting representatives from each
commercial body In cities of the United
States of over $4,000 inhabitants to at
tend a national convention to be held
in Indianapolis in 1897, to discuss the
financial question:; to offer remedies to
congress or to advise the appointment
of commission to prepare remedies.
Delegate Tanner of Indiana presented
an amendment to Mr.. Smalley's resolu-
ton. The amendment recommended a
representation of cities of 5000 and
over, which would make a convention
of about 1880 delegates. The amend
ment was accepted and the resolution
was referred
Ex-Attorney General Miller and Johr
r. Wilson, both of Indianapolis, ad-
J dressed the conference at some length
At the close of Mr.. Wilson's address
q committee reported a resolution de-
claring it the sense of the conference
that a general conference of CONNER.
cial bodies be called at Indianapolis or
, January 5 for the purpose of suggestins
such legislation as may be necessary tt
place the currency system of the coun
try upon a sound and permanent basis
1t was found, however, that the hal
J could not be secured on January s. ant
the date was left to a local sub-com
mittee. 1t probably will be fixed a
January IL.
} The convention tonight adopted tn,
following basis of representation: On
} delegate for cities of from 5000 to 10,
600; two delegates for cities of from 10.
! 900 to $4,000; three delegates for citie
j of from $4,000 to $4,000; four delegates
; for cities of from $4,000 to $4,000; fv
delegates for cities of from $4,000 t,
Z 100, 900; six delegates for cities of from
900 to 10000; seven delegates TO
! cities of from 200, 900 to 10000; eigh
delegates for cities of from 100000 t
; 1000, 900; twenty delegates for cities O
) 100000 or over.
The formal call for the convention
will probably be issued in a few days.