The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1897-01-21
THE MONETARY CONFERENCE.

THE MONETARY CONFERENCE.
Discuss Plans Of Currency Reform and
3D.. Adopt Resolutions.
! Indianapolis, Ind, Jan. l4.-The ma
tional monetary convention which has
been in session here two days on
Wednesday afternoon adopted declar-
alton of what legislation in it's opinion
Is needed upon the subject by q prac-
tically unanimous vote. This declara-
ton included q demand for the main
tenance of the gold standard and
the retirement of the demand obliya-
lions of the government. Accompany
ing this was a proposition for the APP
Pointment of q commission to invests
gate and report by bill or otherwise
upon the evils and remedies of the cur
rency system. This was the unanimous
conclusion of the committee on resoIll-
tions, and the recommendations of the
committee were affirmed by the SUBJ
stantially unanimous vote Of the con-
yention.
The feature of the morning session
was speech by Congressman Fowler
in which he outlined the causes of the
present financial ills and the remedy
therefor.
Mr.. Fowler said that there were three
ways Of escaping national bankruptcy at
some time If the present plan is to oe con-
tons of banking. a step which is altogether
cut OF the question. Second. we can tax the
people whenever the emergency arises,
which must prove. as it always has. most
expensive and burdensome policy, and one
to which the people will net long submit
Third, the retirement of the demand obi
cations of the government, policy that is
clearly demanded by our own experience
an. approved by that Of other nations as
ou- only remedy.
The speakers reference to CleveIa nd ano
Mckinley were loudly applauded
The conference reassembled at $3.50
p. m. NJ. L. Ingalls,. of Cincinnati, read
the report Of the committee on resolu-
tions. 1t follows:
This conference declares that 1t has be-
come absolutely necessary that a consis-
lent. straightforward and deliberately
planned monetary system shall be inaugu-
rated, the fundamental basis Of which
should be:
'First-That the present gold standard
should be maintained.
"Second-That steps should be ia ken r., IN
sure the ultimate retirement Of all classes of
Cnlte1 States notes by gradual and steady
process. and so as to avoid Injurious con-
traction Of the currency or disturbance of
tbs business interests of the country. and
the. until such retirement provision should
be made for separation of the revenue
and note issue departments of the treasury
fhird-fhat banking system be pro-
v1ded which should furnish credit facilities
to every portion OF the country. and safe
and elastic circulation. and especially with
view OF securing such distribution of
the >loanable capital of the country as will
tend to equalize the rates Of interest in ali
rarts thereof: For the purpose of effec-
lively promoting the above objects:
'Resolved. That Is members Of this con-
terence be appointed by the chairman to
act as an executive committee while this
convention is not in session. with full pow
erS OF this convention. The executive COM
n;ittee shall have the power to increase its
membership to any number not exceeding
IS and five members thereof shall at ali
times constitute quorum OF said commit
tee.
THE executive committee shall have
special charge Of the solicitation, receipt
all disbursement of contributions vol,n-
tarfly made for all purposes: shall have the
rowe: to call this convention together again
when and where it may seem best to said
committee to do 50. and said COMMITTEES
shall continue in office. with power to iii
vacancies, until discharged at a future
meeting Of this convention.
Resolved. Thatit shall be the duty OF this
executive committee to endeavor to pro-
cure at the special session Of congress.
which It IS understood will be called in
March next, legislation calling for the ap-
pointment of q monetary commission BY
the president to consider the entire cues.
lion. and to report to congress at the ear
lest day possible. or failing to secure the
above legislation. they are hereby author
ICED and empowered to select a commission
1T all members. according to rules and
plans set forth in the suggestions submit
ted to the convention by Mr.. Hanna, OF
Indianapolis. as follows:
Article l. The commission shall consist
IT II members, to be named by the execu-
tive committee appointed by ills conven-
ton. The executive committee shall have
rover to fill vacancies in the commission
| as they may occur.
Article 2. The first meeting OF the COM
mission shall be held at time and place
10 be designated by the executive commit
tee Of this convention in a call to be issued
therefor. and at such meeting the COM
mission shall organize ~ the election Of
Fuc.- officers and the adoption Of sucn
rules and bylaws for its own government
Il: may be agreed by a majority of it's
members: and thereafter it shall be gov
cIned by such rules and bylaws subject
to these articles.
Article 3. All rules and bylaws of the
commission and all its proceedings shall
be directed towards the accomplishment
OF the objects Of its creation. which is to
make a thorough investigation Of the
monetary affairs and needs of this country.
and oil relations and aspects. and to make
appropriate suggestions as to any evils
found to exist and The remedies therefor.
and no limit Is placed upon the scope Of
such inquiry or the manner of conducting
the same, excepting only that the expenses
thereof shall not exceed the sums set
apart for such purposes by the executive
committee.
Article 4. The executive committee of
mis- committee shall use so much of the
voluntary contributions made to it az NAV
re available for that purpose, to defray
al necessary expenses of the commission.
and shall notify the commission from time
TO time OF the amount So available in
order that it may regulate it's expenditures
accordingly. and no liability shall attach
to such committee or to this convention be-
yond the amount SO notified.
ARTICLE s. When the labors OF this COM =
mission have been completed as far as
practicable. the executive committee, if,
deems 1t advisable, shall issue a cali to
bring this convention together again, at =
time and place designated in such call:
ard at the meeting 20 convened the COM
'nittee shall make report Of its doings and