The age-herald., 1897-12-16
d tb ( action of Eight Kinds of V
 Money to Two.
And tb
A LIVE WIRE IN THE coNvENrIoS
Meeting Proved To Be a Free Silver Democrat and Said He Felt
 Lonesome Among Bankers.


 convention met here this morning on call from from the Atlanta Clearing House as- sociation, for the purpose of considering currency reform and recommending meas- ures that will give an elastic currency and which will take the government out of tho banking business.
 The session was opened in the ball room of the Kimball house at 10 o'clock by G. R. DeSausser, of the Exchange National bank of this city, who inaugurated the movement.
 John A Davis, of Albany Ga, was elect- ed president, and Darwin G. Jones, mans ager of the Atlanta Clearing House, sec- retary. L. P. Hillyer, a Macon banker, was chosen as assistant secretary.
 George R. DeSausser addressed the con. vention, and spoke of the need of a curA rency which would give the south elas- tic currency, and invoked spirit of 4on- sectionalism in it's consideration. President Davis declared himself to be in full sym- pathy with the movement for an elastic currency. but he said that the standard must be that of all nations. Hoke Smith Talks Hon. Hoke Smith in his address of well come dwelt upon the resources of tho south needing currency for their develop ment He urged that coin alone in- sufficient for any prosperous country, and that the provisions in this country for pa- per money were war measures and now entirely inefficient. He advocated the rey tirement of greenbacks and treasury notes and the substitution of bonds of is- sue under federal control. He urged that the percentage of charge on the issue should increase as the percentage of is- sue increased, thereby making a currency with elasticity sufficient to meet automatic cally the need of trade. He insisted that the government regulations should apply well to state as national banks.
 The next speaker was William W. Dods- worth, editor of the New York Journal of Commerce and Bulletin. He condemned the national banking system as inelastic and unsuted to the needs of the country, and declared the greenbacks curse which vitiates the system. He favored authoriz- ing state and national banks to issue bills to 75 per cent of their capital, secured by first lien upon their resources and the double liability of stockholders under federal supervision and redeemabe at such centers as will make them pass all over the country He declared the country needed safe and elastic currency and this could best be supplied through an issue of such bank currency. Adspf Resolutions The convention adopted without debate, by unanimous vote, the following resolu- tions:
 Whereas We believe that the time has come for southern bankers to successfully demand better banking facilities from the | congress of the United States, we, the tba herr Ct ence assembled, hereby suggest such refs ormation in our banking and currency laws as will
 First Take the banking business out of politics.
 Second Take the government out of the banking business.
 Third. Avoid the expense and danger ale ways attendant upon government issues by the retirement and cancellation of tho greenbacks and the treasury notes of 1890 (by the substitution of bank notes).
 Fourth To demonstrate to the world that the credit of the United States is as high as that of any other nation.
 Fifth. To demonstrate that our meas- ures of value, being definitely determined and permanently established. hundreds of millions of dollars from abroad and at home will seek investment here.
 Sixth To keep every dollar of our cur- rency good enough to pass current in every land.
 Seventh. To increase the amount of gold and silver in circulation among our people.
 Eighth. To give smaller towns the ad- vantage of better banking facilities so that every honest man will have meted out to him the credit he is entitled to.
 Ninth To give producers Of every knd and in every section ample currency at reasonable rates of interest to handle and hold their crops and manufactures until they wish to dispose of them.
 Tenth. To give lower and cheaper rates of interest throughout iae United States.
 Eleventh To reduce our eight different kinds of money to only two. viz: Specie and bank notes.
 Twelfth. To protect note holders and
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