The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1896-09-02

thc denomination OF President CleVe- /
land-The Convention win Probably
Complete Its Work Tomorrow.
TNDIANA"5LIs, Sept 2.-Senator John |
NJ Palmer of Illinois, chairman of the
provisional committee appointed at Chi !
cago five weaks ago called the convention
of gold Democrats TO order at noon today
in Tomlinson hall
The convention was opened with prayer
by Rev John White, the Episcopal bishop
Of the diocese Of Indiana. Ex-Governor
Flower, who had heen selected rs tenn
porary chairman delivered the opening
speech.
All the delegates have not yet ar
rived and the indications are that the
gathering will exceed expectations, both
in poin5 Of numbers and states repre-
sentcd From the lists in the hands
Of Secretary Wilson it is certain that over
500 delegates will be 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 90 the 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 a committee of
five was authorized, with Chairman Sigor-
ney Butler atits head, to canvass the situa-
ton 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, a complimentary
vote should be cast for Secretary Olney.
In case there seemed TO be probability
that the convention will agree upon the
first ballot, the Massachusetts, delegation
will not cast complimentary vote, but
vote for the 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 the Endorsement of the treasury
department, and contains suggestions by
Secretary Carlisle. 1t is as follows;
eve recognize the fact that the exist
ing 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
production.
"The tendency of the system of govern
ment paper money and national bank
| notes based upon bonded securities has
| been to restrict circulation where it was
needed, to accumulate idle capital in a
! few centers, to subject the rate of interest
| to unjust fluctuations and radical Unequal
| tiles in different sections, to restrict en-
terprise and cripple industry, to make
currency scarce in times of business ac-
tivity and redundantly plentiful in times
and places where it was needed, and at
such times to expel the surplus in the
form of gold, the money of international
exchange
The gold standard has not been the
cause, but the victim of these conditions.
The banks also have been the victims OF
laws not of their making, the result OF
war necessities, and have incurred un
nerited hostility, because they have beer
prevented by these laws from rendering
the services to agriculture, industry and
commerce which should be their legiti-
mate and natural function under propeI
currency system.
1--WE believe that the protection of the
publiccredit against the results of agita
ton for the debasement of the metallic
standard has been rendered doubly diff
cult by the defective character of oW
paper currency. The gold standard has
borne the odium of events for which it i,
not responsible, and which should be di
rected against the vicious policy of gov
ernment paper currency, subject to per
petual reissue. The sale of bonds for golC
on four occasions during the past three
years has been due TO the fact that the eX
isting currency system has thrown upor
the treasury an obligation which should
be imposed by law upon the banks,
1--WE demand, therefore, that the initia
steps be taken for the withdrawal from
circulation of the legal tender notes, or fo
a change of the existing system of redomp
ton and reissue And we demand, il
order that there may be no improper con
traction of the currency and that it ma,
be capable of ready adjustment to the de
mands of business, that the present bank
ing laws be so modified as to interpose II,
obstacle to the creation of an elastic bank
ing currency, subject to such control a
shall insure uniformity, security and re
demption in standard coin on demand"
1t is not improbable that a resoluti"l
declaring in favor of the income tax viii
be adopted by the convention. 1t will no
condemn the supreme court at all, anC
will provide that the constitution shall b,
amended first, so as to remove constitu
tional objection.
A general canvass among the delegate
on the question of including a declaration
in favor Of bimetallism by internationa
agreement in the platform shows an ap
purently large sentiment against any al
luSion TO an international agreement
There are a few delegates who favor sucl
IL. I a..