The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1897-01-21
NEW PLAN OF FINANCE
WORK OF THE CONFERENCE AT
INDIANAPOLIS.
Declares for Gold, for the Retirement
of Treasury Notes, for Freer Bank
ing and for Monetary Commission
to Suggest Reforms.
The Scheme in Detail,


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 1t,
and, after a 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 he inauSurated, the
fundamental basis of which should be; -.
/. That the present gold standard shoulu
be maintained.
q That steps should be taken to insure,
the ultimate retirement of all classes OF Onlt
ted States notes by a gradual and steady
process and so as to avoid injurious coh.rac7
ton Of currency disturbance of the busll
ness interests of the country, and that untlil
such retirement provision shall be made foli
separation of the revenue and note issue
departments OF the treasury.
3. That q banking system be provlded
which should furnish credit facilities 10 ef!
cry portion of the country, and an elastic cirt
culation, especially with a view Of securing
such q distribution of the loanable capital on
the country as will tend to cqualze the rates.
of interest in all parts thereof. For the puT
pose of effectually promoting the ABOVE ooi
| jects: ...l
Resolved. That fifteen members of this
convention be appointed by the Chairman,
| to act as an executive committee while this
convention Is not in session-wltn the iuil
| powers of this convention. The executive
committee shall have the power to increase
| Its membership to any number not exceeding
| fOrty-five, and five members Thereon Snail Ut
| all times constitute q quorum OF sald COLL
mittee.
The Executive Committee shall have spe-
cfo cha of 10
| disbursement Of contributions voluntarily
| made for all purposes; shall have power 10
| call this convention together again, when
| and whore 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 n future meeting Oh tnls
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 Oh a
| monetary commission by the President to
consider the entire question. and to report to
| Congress at the earliest day possible; or,
| failing 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 l. The commission shall h .So consist skao OF
eleven members, to be named by, the Execu-
| tive Committee appointed by this conven-
ton The Executive Committee shall have
power to fill vacancies In the commission as
| they may occur.
Art. 2. The first meeting of the commits
| sion shall be held at time and place to be
| designated by the Executive Committee OF
| this convention in 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
| for its own government as may be agreed
| by majority of its members, and thereafter
| it 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
| iect of its creation. which is to make a
| thorough investigation of the monetary al
| fairs 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. T. The Executive Committee of this
| convention shall use so much of the yOlun.
tary contributions made to it 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 it may
regulate it's expenditures accordingly; and
no liability shall attach to said committee OF
-
| notified.
Art. 5. When the labors of this commission
| have been completed so far practicable,
the Executive Committee, IL 1t deems 1t adj
visablc, shall issue call to bring this con
| vention together again at n time and place
designated In such CALL and at the meeting
so convened the commission shall make re-
| port OF its dolngs, and suggestions in such
manner and form as it shall deem best
adapted to present to this convention and
its members for action; and. If legislation Is
deemed impossible. shall accompany such re-
port with draft of such bill or bills proy1d
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. B
Dodge of Minneapolis, NJ. f. Ingalls, OF
Ohio, Rufus 3. Bullock of Georgia. n. f.
Fletcher of Michigan and Charles 1. Lib
hey of Maine. In committee there was 6
long debate.
Congressman Fowler of New Jersey de
clared that any commission appointed by
the convention or at its suggestion would
seem to the Committee on Currency anC
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, "ant
all the wisdom of the country is not out
side"
7. 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
Suppose YOU get your committee to
gether and suppose you frame Il bill, wha
are the chances of passage in this Con
gress? The mercantile and banking inter
ests of this country, which represent ev
cry interest in this country, from the poor
est man to the richest, have been. at tn
doors of Congress for the last ten years
We have sent delegations there; we hav
passed resolutions; we have pleaded ant
we have begged of your committee, ant
now we have asked for help. The coun
try to-day lies PROSTATE. We are tire
of it. We ask what chance is there iron
the present Congress or the Congress t
come, if you refuse to consider the reso
lutions of this convention? Is it not true
Mt the close of the nineteenth century
that the people of this country cannot ge
their rights from Congress unless the
buy them with the promise of re-elec
tiOn?''
There was uproarious applause from a
parts of the hall. When it had subsde
Mr. Walker said: eff this sentiment is
be applauded in this convention, l hav
nothing more to say.
The previous question was demanded
Congressman Fowler, seeing that the cor
yention was against him, withdrew hi
proposed amendment to the report of tn
committee, and the committee report wa
adopted.
News of Minor Note.
The new Banigan rubber works q
OIneyville, r. l., have started up. Abou
$50 hands were given employment.
Frederick Blocker, aged A years,
wealthy stock dealer from Halle, Ge
many, died at the Episcopal Hospital
, Philadelphia from gunshot wound, Sc
! inflicted.
! Obedient to his fathers last wis
Ernest Rosen stood on the center arch {