The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-13

auditorium over 300: delegates who rep
resented business interests that run UP
in value into the hundreds of millions.
1t was a fine-lookfng body Of men
whose object is to. attempt the reform
of the governments currency system.
The meeting was opened with prayer
by the Rev. M. L. Haines, of the First
Presbyterian church, ex-President Har-
rison's place of worship Then Mr..
Hanna delivered a brief welcoming ad-
dress, and Jacob w. Smith read the call
sent out by the executive committee.
Next came the recommendations of the
committee for the temporary organiza-
tion, naming E. o. 'Stanard, of ST.
Louis, as temporary chairman and W.
F. G. Colt, Of Indianapolis, as sergeant
alarms. In taking the chair, Mr.. Stan
ard outlined the steps leading up to
the convention and the work it was ex-
pected to accomplish. It was conceded,
he said, that the present financial
methods of the country were not the
best, pointing out the treasury notes
as conspicuous example of the weak
ness Of the system In vogue. He sug-
gested that national banks should be
allowed circulation up to the par value
of their bonds, and a reduction of the
tax on such circulation to a quarter of
1 per cent. The withdrawal of paper
under the denomination of $40 was the
only suggestion directly advanced
Then, in their order, the following
committees were appointed, as recon-
mended by the executive committee:
Permanent ganization-Chairman, E. B.
Myartindale, Indianapolis; Murray Nelson
Shlcago; F. B. Thurber, New York; G. H.
Spler, St Louis; D. B. Smith, Toledo; A. E.
Wilson, T. B. Bullock, Atlanta, Ga; John
10y Edison, Washington, D. c.; Frank H
Peavey, Minneapolis; w. R. Tucker, Phiia-
qelpnia; q p VIM. F. seeley, Bridgeport, Conn.
I. G. Power, Helena, Mont; John. Simpson,
Dallas, Tex VIM. H. Beck, Sioux City, 10.
Blanchard Randall. baltimore.
ley, st. Paul: George W. Foster, Peabody,
New York; Rowland Hazard Rhode Island
Rufus B; Bullock, Atlanta. Ga. H. T. Hig-
Ala. G. J. Hubbard, Kansas City c. W.
Baird, Detroit; L. c. Power, Helena, Mont
Charles L. Peck, Cleveland, O.; T. H. West,
St. Louis; Thomas w: Osborne, Syracuse.
Daggett, Ottumwa, To-
Credentials-Wm. H. Anderson, Grand Rap
ids; Ian,s Mich HhiiwJ J.; G. w. Gowles, Gleyela1d
burg, Milwaukee; Herman Goepher, Cincin-
natl; Evan Thomas, NJ T.; Henry L. Higgn-
son, Boston; F. N. Judson, St. Louis; S. NJ.
Woodward, Washington. VIM. H. Dunwoody
Minneapolis; S. d. Scudder, San Antonio,
Iexas; J. B. Liedemann, Savannah; Charles
r. Libbey. Portland. Me-; S. J. Johnson, Lit
tie Rock; P. B. Weare, Chicago.
After these committees retired there
were calls for. a speech from Charles
5. Fairchild. In opening he said:
For the first time in the history of
governments, a great, scientific f1nan-
cial question was submitted to the peo-
pie for popular consideration in our
last election. It was great
in the way in which 1t was decided,
because we were considering the adopt
ion practically of a tool with which
to conduct our business. Other men at
other times in our history have con-
sldered similar questions-differing as
widely as possible in their political
views. And yet to them, there never
entered an idea that party, section,
race, nationality or worldly condition
was involved"
After dwelling at length upon the
defects in the present monetary system.
Mr.. Fairchild concluded with these
words: II tell you before the work of
this convention is finally concluded,
the business world, not only the United
States, but all the world will be look
ing at 1t and It's result; Il tell you gen.
tlemen If 1T shall 3esnbnstrate (as God
grant that it may not that there is
within this body not sufficient wisdom
to arrive at something
WISE AND CONCLUSIVE,
or If, having so come to a conclusion
among yourselves, 1t is demonstrated
that you, are so far removed in influence
from the law making power that no
results come of it, | tell you. gentle
men, you may tremble for the business
and political future of this country" !"
(Applause).
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