The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-14

Indianapolis, Jan. 13-The national
monetary conference, which has been
in session here two days, this afternoon
adopted a declaration of what legisla-
ton, in its opinion, is needed upon the
subject by a practically unanimous
vote. This declaration included a de-
mand for the maintenance of the gold
standard and the retirement of the
obligations of the government. Accom-
panying this was a proposition for the
appointment of a commission TO in
veStigate and report, by bill or ether
wise, upon the evils and remedies of
the currency system. This was the
unanimous conclusion OF the committee
on resolutions result that was un-
expected by the delegates. The re-
concentrations of the committee were
finally affirmed by the substantially
unanimous vote of the convention. This
was not secured, however, without
much opposition and an exceedingly an
mated debate, with short controversies
between Congressman Fowler of New
Jersey and State Assemblyman Roots
of Indiana, ad Congressman Walker of
Massa chusetts and John Harsen
Rhoades of New York.
ILLS AND REMEDIES.
The feature of the morning session
was a speech by Congressman Fowler,
in which he outlined the cause of the
present financial ills and the remedies
therefor.
At the afternoon session, Charles E.
Adams of Massachusetts offered a reso-
luton of thanks TO H. II. Hanna, chair
man of the executive committee, and to
his associates and to the Indianapolis
fral
bodies of the middle west for making
the conference possible and their labors
in its arrangements. The resolution
was adopted after brief discussion by
the author and A. Z. Wilson of Ken
lucky by a rising vote.
Mr.. Hanna said he disclaimed any
particular credit for the work of the
conference. There Wee too many en-
gagged in it for tnSt.
Mr.. Hanna then pc7sented the report
of the committee on resolutions, which,
he said, could only be read by the
gentleman who drafted the closing
words, and he, therefore, called upon
NJ. E. Ingalls, of Cincinnati to dis
charge that duty. The report, he
great body of the delegates, was the
unanimous expression of the commit
tee. He asked like unanimous sup
port from the convention and moved
the adopting of the report.
The report was as follows:
Gentlemen of the monetary confer
ence-Your committee makes the fol-
lowing report: This conference de-
clareS that it has become absolutely
necessary that a consistent, straight
forward and deliberately-plan mon
etary system shall be inaugurated Tor
the fundamental basis of which should
be maintained:
First. That the present gold stand
ard should be maintained
Second. That steps should be taken
TO insure the ultimate retirement of
all classes of United States notes by
gradual and steady process so as to
avoid injurious contraction of the cur
rency or disturbance of the business in
terests of the country, and that such
retirement provisions should Re made
for a separation of the revenue and !
note issue departments of the treas
ury.
Third That a banking system be |
provided which should furnish credit /
facilities to every portion of the country /
and safe and elastic circulation, and /
with view OF securing such !
a distribution of the lOanable capital of |
the country as viii tend to eQualize /
the rates of interest in all parts there |
of. For the purpose OF effectively pro- |
noting the above objects:
Resolved, That Is members of this /
conference be appointed by the chair
man to act as an executive committee !
while this conference is not in session, /
with full powers of this convention.
The executive committee shall have the
power to increase its membership to /
any number not exceeding 45, and five /
members thereof shall at all times I
constitute a quorum of said commit
tee.
The executive committee shall have |
special charge OF the solicitation, re- /
ceipt and disbursement of contribu /
tions voluntarily made for the purpose +
and shall have power to call this con-
vention together again when ever it
deems best to the committee to do so, .
and said committee shall continue in
office, with power to fill vacancies I'M
til discharged at q future meeting of .
this convention.
Resolved, That it shall be the duty
of this executive committee to en-
deavor to procure at the special ses-
sion of congress. which it is under
stood will be called in March next, |
legislation calling for the appoint
ment of a monetary commission by the
president to consider the entire ques-
ton and 10 report to congress at the
earliest possible day or, failing TO Sc
cure the above legislation, they are
hereby authorized and empowered to
select a commission of IL members, &C
cording to rules and plans set forth in
the suggestions submitted to the con-
vention by Mr.. Hanna of Indianapolis,
as follows:
Article l. The commission shall con-
sist of II members, to be named by the
executive committee appointed by this
The executive committee
shall have power to fill vacancies in
the commission as they may occur
Article 3 The first meeting of the COM
mission shall be held at a time and place
to be designated by. the executive COM
mittee of this convention in a call to be
issued therefor, and at such meeting the
shall organize by the cleo
ton of such officers and the adoption OF
such rules and bylaws for its own gov
jority of it's members; and, Thereafter, II
shall be governed .bv such rules and by
laws subject to these articles.
Article 8. All rules and bylaws of the
and all its proceedings shall
be directed towards the accomplishment
of the objects of its ton, which is to
make a thorough investigation of the
affairs and needs of this coun-
trv in all relations and aspects, and to
make appropriate suggestions as to any
evils found to exist ana 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 purpose by the
executive committee.
Article 4. The executive committee OF
this committee shall use so much of the
voluntary contributions made to it as
may be available for that purpose to de-
FRAY all necessary expenses OF the COM
mission and shall notify the committee.
from. time to time, of the amount so
xr.;Io hi in