Crawford avalanche. (Grayling, Mich.) 1879-19??, 1897-01-21
The scheme In Detail.

The Scheme In Detail.
The work of the monetary conference at
Indianapolis is finished.
After all the States had submitted plans
for reforming the currency, it was clear
that there was no substantial agreement
as to what should be done, and that there
was considerable difference of opinion as
to the proper mode of procedure. The
committee on resolutions, composed of one
delegate from each State, examined care
fully all the manuscripts filed with II,
and, after session of twelve hours, the
following resolutions were unanimously
recommended:
This convention declares that 1t has be-
come absolutely necessary that consistent,
straightforward and deliberately planned
monetary system shall be inaugurated, the
fundamental basis of which should be:
1. That the present gold standard should
be maintained.
2 That steps should be taken to insure
the ultimate retirement OF all classes OF Uni
ted States notes by a gradual ana STEADY
process and so as to avoid Injurious contrac-
tion of currency or disturbance of the bus1-
ness interests of the country, and that until
such retirement provision shall be made Tor
a separation OF the revenue and note issue
departments OF the treasury.
3. That q banking system be provided
which should furnish credit facilities to ev-
cry portion of the country, and an elastic cir
culation, especially with view OF securing
such distribution OF the loanable capital or
the country as will tend to equaize the rates
of interest In all parts thereof For the pur-
pose Of effectually promoting the above OBJ
Jects
Resolved, That fifteen members of this
convention be appointed by the Chairman
TO act as an executive committee while thls
convention Is not In session-with the full
powers OF this convention. The executive
committee shall have the power 10 Increase
Its membership TO any number not exceeding
f0rty-ive, and five members thereof shall at
all times constitute quorum OF said COM
mlttee.
The Executive Committee shall have spe-
clal charge of the solicitation, receipt and
disbursement OF contributions voluntarily
made for all purposes shall have power to
call this convention together again, when
and where 1t may seem best TO said commit
tee to do so. and said committee shall con-
tinue In Office, with power to fill vacancies
until discharged at a future meeting OF this
convention.
Resolved. That 1t shall be the duty OF this
Executive Committee to endeavor TO procure
at the special session OF Congress which, 1t
Is understood, will be called In March next.
legislation calling for the appointment of
consider the entire question, and to report to
Congress at the earliest day possible; or,
falling to secure the above legislation, they
are hereby authorized and empowered to Sc
lect commission of eleven members. ac-
cording TO the rules and plans set forth In
the suggestions submitted to the convention
by Mr.. Hanna, OF indianapolis, as follows:
Article /. The commission shall consist OF
eleven members, to be named by the Execu-
tive Committee appointed by this cOnven-
tion. The Executive Committee shall have
power TO ill vacancies In the commission as
they may occur.
Art. 2 The first meeting of the commits
sion shall be held al a time and place to be
designated by the Executive Committee Of
this convention In a call to be issued there
for; and at such meeting the commission
shall organize by the election of such officers
and the adoption of such rules and bylaws
Tor Its own government as may be agreed
by majority OF its members, and thereafter
IL shall be governed by such rules and by
laws subject TO these articles.
Art. 3. All rules and bylaws of the COM
mission and all Its proceedings shall be d.
rected toward the accomplishment OF the OBJ
ject OF Its creation, which Is to make
thorough investigation Of the monetary af-
fairc and needs Of this country, In all rela-
tions 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, except
Ing only that the expenses thereof shall not
exceed the sums set apart for such purpose
by the Executive Committee.
Art. 4. The Executive Committee of this
convention shall use so much OF the volun.
AIRY contributions made to II as may be avail
able for that purpose, to defray all necessary
expenses OF the commission, and shall notify
the commission from time to time of the
amount so available. In order that Ii may
regulate Its expenditures accordingly; and
no liability shall attach to said committee or
to this convention beyond the amount SO
notified.
Art. D. When the labors of this commission
have been completed so far as practicable,
the Executive Committee II II deems It ad-
visabe, shall Issue call to bring this con-
yention together again at time and place
designated In such call. and at the meeting
so convened the commission shall make re-
port of Its doings, and suggestions In such
manner and form as 1t shall deem best
adapted 10 present to this convention and
is members for action; and. II legislation is
deemed impossible, shall accompany such re-
port with draft Of such bill or bills provid-
ing for such legislation.
Resolved That all resolutions and COM
munications as TO methods of currency re-
form which have been presented to this con-
yention be referred to such commission
when formed.
This plan was put together by w. II.
Dodge of Minneapolis. NJ. +. Ingalls, of
Ohio, Rufus Il. Bullock of Georgia, n. Il.
Fletcher of Michigan and Charles /. Lib
hey of Maine. In committee there was a
long debate.
j. ii. Walker of Massachusetts. chair
man of the Committee on Banking and
Currency of the national House of Rep
resentatives. attacked the plan. He de-
clared that but for this convention Con-
gress would have come forward with
sOiht sCHtnt tHe OI the
currency system.
Congressman Fowler of New Jersey de-
Glazed that any commission appointed by
the convention or Mt its suggestion would
seem to the Committee on Currency and
Banking and the Senate Finance Commit
tee as bearing the assumption that the
members of those committees are not able
to draw bill for bringing about the re-
form sought. "The members of Congress
are not absolutely ignorant" said he, 'and
all the wisdom of the country Is not out
side"
J. III. Rhodes Of Massachusetts, sustain
ed the plan in a speech that charged Con-
crosses for ten years back with indiffer-
ence to petitions, appeals and popular
demand.
There was uproarious applause from all
parts of the hall. When il had subsidized
Mr.. Walker said: IF this sentiment is to
he applauded in this convention, l have
nothing more to say"
The previous question was demanded.
Congressman Fowler, seeing that the con-
vention was against him, withdrew his
proposed amendment to the report of the
committee, and the committee report was