The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-01-14
Monetary Reformers Ex-
press Their Views Quite
Forcibly.
Retirement of the Demand obi
cations of the Government
Is Recommended.
1t Is Decided TO Appoint Commission
10 Inquire Into the Cur
rency Evils.


National monetary conference which has
been in session here two days, this after
noon adopted a declaration of what lagis-
lahon in its opinion is needed upon the
subject, by a practically unanimous vote.
This declaration in cludes a demand fol-
the maintenance of the gold standard and
the retirement of the demand obligations
of the Government. Accompanying this
was proposition for the appointment Of
a commission to investigate and report By
bill or otherwise upon the evils and RENE
dies OF the currency system. This was the
unanimous conclusion OF the committee
ted by the delegates.
The recommendations OF the committee
we're finally affirmed by the substantially
unanimous vote of the convention. This
was not secured, however, without much
opposition and an exceedingly animated
debate, with short controversies between
Congressman Fowler of New Jersey and
State Assemblyman Roots Of Indiana,
and Con gresham Walker of Massachusetts,
and John Harsen Rhoades of New York.
The feature of the morning session was
q speech by Congressman Fowler, in which
he outlined the causes OF the present
financial situation and the remedies
therefor.
At the afternoon session Charles E.
Adams of Mass achusetts offered resolu-
ton or thanks to H. H. Hanna, chairman
OF the executive committee, and to his
associates and to the indianapolis Board
of Trade and the commercial bodies of the
Middle West for making the conference
possible and their labors in its arrange
ments. The resolution was adopted, after
brief discussion by the author and A. D..
Wilson of Kentucky, by a rising vote. Mr..
Hanna said he disclaimed any particular
credit for the work of the conference.
There were too many engaged in it for
that.
Mr.. Hanna then presented 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. Z. ingalls, of
Cincinnati to discharge that duty. The
report he further said, to the surprise of
that great body of delegates, was the
unanimous expression of the committee.
He asked like unanimous support from
the convention and moved the adoption OF
the report. The report was as follows:
Gentlemen of the Monetary Conference: This
conference declares thatit mas become abso-
luiely necessary that consistent, straight for
ward and deliberately planned monetary sys-
TEN shall be inaugurated, for the fun damental
basis OF which should be:
Iirst-That the present gold stand should be
maintained.
Second-That stems should be taken to in
sure the ultimate retirement OF all classes OF
United States notes by a gradual and steady
process, so as 10 avoid injurious contraction OF
the currency or disturbance of the business
interests of the country, and that such retire
ment provisions should be made 1or separa-
ton of the revenue and note issue departments
OF the treasury.
Third-Tnat banking system be provided
which should furnish credit facilities 10 every
portion OF the country and an elastic circula-
ton, ana especially with view OF securing
such a distribution of the loanable capital OF
the country as will tend to equaliZe the
rates OF interest in ali parts thereof For the
purpose OF effectively promoting the above OBJ
jec,s:
EesolUed, That fifteen members of this con-
ference be appointed by the chairman to act
Cs an executive committee, while this conVen-
ton is not in session, with full powers of this
convention. The executive committee shall
have the power to increase its mem bership to
any numbe not exceeding forty-fve, and five
members thereof shall at all times constitute
q quorum of said committee. The executive
committee shall have special charge of solicit
tation, receipt and disbursement of contrlbu-
tons voluntary made for the purpose, and
shall have power TO call this convention to-
geihei again when and where il may seem
best TO said committee to do so, and said COM
mittee shall continue in office with power to
fill vacancies, until discharged at a future
meeting of this convention.
Resotred, That it snail be the duty OF this
executive committee to endeavor to procure
at the special session OF Congress, which it is
understood will be called in Marca next, legis-
laton calling for the appointment Of none
tary commission by the President to consider
the entire question and TO report to Congress
at the earliest possible day, or failing 10 Sc
cure The above legislation they are hereby au-
thorized and empowered TO select a commits
81 IN of eleven members according to rules and
plans set forth in the suggestions submitted
TO the convention by Mr.. Hanna OF Indian
spolis as follows:
Article l. The commission shall consist of
eleven members to be named by the executive
committee appointed by this convention.
The executive committee shall have power TO
fill vacancies in the commission as they may
occur.
Article .. The first meeting OF the commits
sion shall be held at time and place 20 be
designated by the executive committee OF this
convention in q call to be issued therefor and
at such meeting the commission shah organ
lie by the election of such officers and the
adoption OF such rules and bylaws for its
owl government as may be agreed to by a
majority OF Its members; and thereafter 1t
shall be governed by such rules and bylaws
subject to these articles.
Article 3. All rules and bylaws of the COM
mission and all its proceedings shall be d.
rected toward the accomplishment of the OBJ
jeets OF Its creation, which is 10 make a
thorough investigation OF the monetary al
fairs and needs OF this country and all reia =
TORS and aspects, and to make appropriate
suggestions as to any evils found 10 exist and
the remedies therefore and no lirit 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 as much OF the coutribu-
tons as may be available for thatlpurpose TO
defray all necessary expenses of the commits
sion. and shall notify the commission from
time to time of the amount 30 available In
order that il may regulate its expenditures
accordingly, and no. liability shall attach to
said committee or TO this convention beyond
the amount so notified.
Article 8 When the labors OF this commits
sion have been completed, as lar as practicable
the executive committee, II II deems ad-
visable, shall issue q call 20 bring this conven-
ton together again al time and place desig-
mated in such call; and at the meeting so
convened the committee shall make report of
It's doings and suggestions IN such manner
and form as IL shall deem best adapted to pre-
sent the same to this convention ana It's men,
bers for action; and If legislation Is deemed
advisable shall accompany such report with a
draft of such bill or bills providing Tor such
legislation.
RESOLVED, That all resolutions and COMMUNE
cations as to the methods OF currency reform
which have been presented to this convention
be referred TO such committee when formed.
caused great cheering, which interrupted