The times. [volume] (Richmond, Va.) 1890-1903, 1897-01-14
A FINANCIAL COMMISSION.
The Monetary Conference Takes Steps
10 Have One Created.
RETIREMENT OF DEMAND OBLIGATIONS
by Such Gradual Process ~ 10 Prevent
Injurious Contraction of the Cur
rency l. sFavored-Gold standard
should he Maintained.

has been in session here for two days.
this afternoon adopted a declaration OF
what legislation, IN It's opinion, Is needed
upon the subject by a practically unani-
nous vote.
This declaration included demand for
the maintenance OF tho gold standard and
a retirement Of the demand obligations Of
the Governments Accompanying this was
a proposition Tor the appointment of a
commission 10 investigate and report by
bill on otherwise upon the evils anu ieine-
dies OF the currency system.
VERY HARMONIOUS.
This was the unanimous conclusion OF
the Committee on Resolutions, result
that was expected by the delegates. aud
th. recommendations OF the committee
were affirmed by the substantially unani-
NOUS vote of the convention. This was
not secured, however, without much OPP
position. and an exceedingly animated
debate with short controversies between
Coueressmau Fowler. OF New Jersey. ami
State Asscmbiyman Roots. Of Indiana,
and CongressmaS Walker OF Massdchu-
sctts and John larsen Rhoades, Of New
York.
The feature Of tho morning session was
n speech by Congressman Fowler lh
which Doe outlined the causes Ot me
present financial IDS, and inc remedy
therefor.
AN OIL the time of-the convention mp
10 the presentation of the report OF the
Committee Oh Resolutions. was occupied
in listening tO speeches and recommenda-
ti0us Of features. which those presenting
them wished 10 have embodied IN the de-
ciaution of the convention.
Tho convention bad taken recess
twice upon notice that the committee was
not ready 20 report. When 10 reassem-
bed. after the second recess, at 4.J0 L.
NJ. II. H. Hanna. chairman Of the Com
mittce ON Resolutions. presented the re-
port of his committee and called upon
ST. j.. lnells. of Cincinnati. 20 read IT,
THE REPORT.
Tho report Air. Hanna said, % the
surprise of the great body o. the dele
gates. was the unanimous expression or
the committee. lle asked Ike unani-
nous support from the convention, and
moved the adoption of the report. The
report was as follows:
Gentlemen of the Monetary Convention;
your committee make the following
report:
"This conference declares that 10 has
been absolutely necessary that con-
slstent. STRAIGHTFORWARD. and deliberately
planned monetary system shall be IN
auguratcl. the fundamental basis of
which should be-
"Frst. That the present gold standard
should ho maintained
Second. That steps should he taken
90 insure the ultimate retirement OF an
classes Of United States notes by -
gradual and steady process. so as 10
avoid injurious contraction Of the cur
rency or disturbance of the business
interests Of the country. and that In
such retirement provision should bc made
for q separation of the revenue and note
issue departments of the Treasury.
Third. That a banking system be pro-
vided which should furnish credit facili-
ties 10 every portion Of the country.
and a safe and elastic circulation, and
especially with a view to securing sucn
q distribution of the loanabio capital OF
the country as Will tend 90 equalze the
rates Of interest In an parts thereof.
For the purpose of effectively promoting
the above Objects
EXECUTIVE COMMITTEE
Resolved. That fifteen members Of the
conference he oIpointed boy the chairman
20 act as am executive committee while
this convention is not in session. with
fgl power ~ this convention. Tho TX
ccIUve Committee shall have the power
90 increase lts membership 10 any num-
Der not exceeding fOrty-nye. and five
members thereof shall at all times con-
sltute a quorum OF said committee. The
Executive Committee shall have special
charge Of the solicitation, receipt and
disbursement OF contributions voluntarily
made for an purposes; shall have power
90 call this convention together again
when and whore IL may seem best 20 said
committee 10 do so, and said committee
shall continue IN Office with power ~
ON vacancies until discharged at fu-
turs meeting OF this convention.
Resolved That 10 shall be the duty
of this Executive Committee TO endeavor
10 procure az the special session OF Cou-
gress which 10 Is understood Will be- cali
ed in March next. legislation calling for
tho appointment OF = monetary commits
sion by the President 20 consider The
entire que ti0n and 10 report 10 Con-
grcss an the earliest day possible, or
failing to secure the above legislation.
they are hereby authorized and empow-
cred 20 select a commission or eleVeG
members according 10 rules and plans
set forth in the suggestions submitted -
the convention by Mr. Hanna OF In-
dianapohs as follows:
THE COMMISSION.
article J. The commission shall con-
sist or eleven members 90 Doe named by
the Executive Committee appointed by
this convention. The Executive Commit
tee shall have power TO hll vacancies IL
tho commission as they may occur.
Article o. Tie first meeting Of tho
commission shall be held al time and
place 10 De deslgnatsf by the Executive
Committee OF this convention in a cal ID
bo issued therefor. and at such meeting
The commission shall organize by the
election OF such officers, ana the adop-
tor az such rules and by laws for its own
government. a. may be agreed 20 10y q
majority OF its members and thereafter
30 snail be governed by such rules and
hy-laWs subject 20 these articles.
Article @. All rules and bylaws OF
the commission and call It's proceedings
shall he directed towards the accomplish
mout OF the objects OF its creation. which
is 20 make a thorough inyes tisation OF
tba monetary affairs and needs OF this
country and all relations ard aspects, and
10 make appropriate suggestions as 20 any
evils found 20 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 tho
sums set apart for such purpose by the
Executive Committee.
Article 4. Tire Executive Committee
OF this commission shall use 80 much OF
the voluntary contributions made TO It
as may be available for that purpose TO
defray all necessary 'openses OF the COM
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