Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-01-14
WHAT IS NEEDED.
or THE DELIBERATIONS
AT INDIANAPOLIS.
v,INTENANCE OF GOLD STANDARD,
of the Demand obiiga-
,tous of the Recommendations
sion 10 Investigate and Report on
rviIs and Remedies.

Il ~. national monetary convention, which
-. bcon In session here two days. this
.r.rnoon adopted a declaration OF what
cessation tn its opinion, is needed upon
.r. subject. by a practically unanimous
vale This declaration included a de-
~.rl Tor the maintenance Of the gold
standard and a retirement OF the demand
..ueauons OF the government Accom-
,.ryng this was a proposition for the
.roo.ntmcnt Of commission to lnvcst-
sale and report by bill or otherwise upon
,t. evils and remedies OF the currency
system.
This was the unanimous conclusion OF
fno Committee on Resolutions result
taat was expected by the delegates and
,te recommendation OF the committee
were affirmed by the substantially unani-
nous vote Of the convention. This was
mo-, secured. however without much op-
ro.iton, ard an exceedingly animated
debate with short controversies. between
Congressman Fowler. Of New Jersey.
and state-Assemblyman Roots of Ind-
ana. and Congressman Walker, of Mas
rhusetts. and John Harsen Rhoades,
o. New York.
The feature Of the morning session was
speech by Congressman Fowler. in
which he outlined the causes of the pre-
srt financial ills and the remedy there
for
SD OF the time Of the convention up to
/ fe presentation of the report of the
Committee on Resolutions was occupied
m listening TO speeches and the recon-
meulaiion of features which those pre-
-eltug them wished TO have embodied in
tfe declaration Of the convention.
The convention had taken a recess
twice. upon notice that the committee
WAS not ready TO report When IL re-
assembled. after the second recess, at
$40 j.. ~. X. ii. Hanna. chairman Of
the Committee on Resolutions. presented
tle report of his committee. and called
upon NJ L. ingalls,. of Cincinnati, to
read f.
The report, Mr.. Hanna said TO the sur
Prise Of the great body of delegates. was
the unanimous expression of the commit
Gee. He asked like unanimous support
from the convention. and moved the adOp-
ton of the report. The report was as fol-
lows.
THE DECLARATION.
Gentlemen of the Monetary Conven-
ton: Your committee make the following
report.
This conference declares that it has
become absolutely necessary that con-
sistcnt straightforward. and deliberately
planned monetary system shall be inaugu-
rated. the fundamental basis of which
should be:
First. That the present gold standard
should be maintained.
Second. hat steps should be taken 10
insure the ultimate retirement Of all
classes Of United States notes, by grad
ual and steady process, so as 10 avoid IN
furious contraction of the currency, or
disturbance OF the business interests of
the country. and that in such retirement
provision should Doe made for a separation
Of The revenue and nOte-issue departments
of thc Treasury.
Third That a banking system be pro-
vided which should furnish credit facili-
ties 20 every portion Of the country. and
Ga safe and elastic circulation, especially
with "a view TO securing such distribution
of the l0anable capital of the country as
will tend to equalize the rates of interest
in an parts thereof.
For the purpose Of effectively promot-
ing the above objects
Resolved That fifteen members Of this
conference be appointed by the chairman
90 act as an executive committee While
this convention IS not i'm session, with the
fru power of this convention. This eX-
% Increase it's membership 10 any number
not exceeding fopy-fiye, and five mem
hers thereof shall at all times constitute
d quorum of said committee
"The Executive Committee shall have
epeciaI charge of the solicitation. receipt
and disbursement of contributions voun-
try made for all purposes; shall have
power 20 call this convention together
aclin when and where 10 may seem best
az md gufA
mlttee shall continue in office, with power
10 fil vacancies. until discharged at a
future meeting of this convention.
Resolved That IL shall be the duty
,f this Executive Committee 20 endeavor
.0 procure at the special session or Con-
rrass which. it is understood. will be
allied in March next legislation calling
f.r fhe appointment of a monetary com
u. sion by the President. TO consider the
entire question. and 10 report 10 con-
-ft.s 20 the earliest day possible. or fail
n. 90 secure the above legislation they
.fe hereby authorized and empowered 10
select commission of eleven members,
according 20 tine rules and plans set forth
in The suggestions submitted to the con-
lnuon by Mr. Hanna. Of Indianapolis
m loHows:
PROPOSED COMMISSION.
"Ar.cIe L. The Committee shall consist
of eleven members TO be- named by the !
Executive Committee appointed by this
convention. The Executive Committee
saN have power 20 fill vacancies IN the |
commit sion as they may occur
Nrice 2 The first meeting Of the
commission shall be held at q time and
r.o, to Doe designated by the Executive
Committee of this convention IN can
4 h ho issued therefor and al such meet
. Me tfe commission shall organize by the
Section %. such officers and the adoption
f such rules and bylaws for It's own
government as may be agreed TO by
majority of its members; and thereafter
stal he governed by such rules ana
bylaws subject 10 these articles.
article g. All rules and bylaws OF
me commission. and all its proceedings
Nal Boz directed towards The accom-
samelt OF the objects OF It's creation
winch s 90 make a thorough inVestiga-
lln NJ the monetary affairs and needs
N ihs country. In all relations ana as
le.'s aui TO make appropriate suggestions
[" io amy evils found to exist, and the
reno i0s therefor and no limit is placed |
-il iae scope Of such inquiry. or the |
manner of conducting the same, except !
'- only that the expenses thereof shaH
.p. exceed the sums set apart for such /
by the Executive Committee
| article 4. The Executive Committee |
" 'hls convention shall use so much OF |
Ne Voluntary contributions made TO IL |
~ Hty Doc available for that purpose |
ee.fay All necessary expenses Of the |
Na.s lon and shall notify the com |
D.on from time 10 time OF the amounts !
available. IN order that 80 may regu~ |
~'e ls Expenditures accordingly; and no |
.-DAy shall attach TO said commission |
TO lhis convention beyond the amount |
50 bottled.