The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-01-14
GOLD FIRST, LAST, ALWAYS
INDIINAPOLISC CONVENTION MAKES
AFIRM DEC LARATION.

United States Notes by Gradual but
Steady Process Revision of the
Entire Banking System Urged-Ihere
Was Some Opposition to the Report.
Indianapolis, Jan. 13.-When the
monetary convention reassembled at
2:45 President Patterson announced
that the committee on resolutions
would not be ready to report before
4:2O. Lieutenant Governor Haggard Of
Indianapolis transmitted a resolution
passed by the state senate inviting the
members to visit the senate. The in
vitation was accepted and recess was
taken until A o'clock.
When the delegates reached the CAPT.
tol the senate had adjourned
The conference reassembled at 4:S0
p. m. III. II. Hanna, chairman of the
committee on resolutions, presented the
report of his committee. The report
was the expression of the body. He
asked like unanimous support from the
convention and moved the adoption of
the report. The report was as follows:
This conference declares that it has
become absolutely necessary that
consistent, straightforward and delib-
erately planned monetary system shall
be inauguTated, the fundamental basis
of which should be:
QD That the present gold standard
should be maintained.
roy That ctanc eboI1I5 ha talxan IN in
sure the ultimate retirement of all
classes of United States notes by a
gradual and steady process, so as to
avoid injurious contraction of the cur
rency Of disturbance of the business In
terests of the country and that in such
retirement provision should be made
for a separation of the revenue and
note issue departments of the treasury.
(3) That a bank system be provided
which should furnish credit facilities
to every portion of the country and a
safe and elastic circulation and espe-
cially with view to securing such
distribution of the loanable capital Of
the country as will tend to equalize the
rates of interest in all parts thereof.
For the purpose of effectively promot-
ing the above objects:
Resolved, That fifteen members of
this conference be appointed by the
chairman to act as an executive COM
mittee while this convention is not in
session with full power of this con-
vention. The executive committee
shall have the power to increase it's
membership to any number not ex-
ceeding forty-fve, and five members
thereof shall at all times constitute
quorum of said committee.
The executive committee shall have
special charge Of the solicitation, re-
ceipt and distribution Of contributions
voluntarily made for all purposes; shall
have power to call this convention to-
gether again when and where it may
see fit to do so with power to fill vacan-
cies, until discharged at a future meet
ing.
Resolved, That it shall be the duty of
this executive committee to endeavor
to procure at the special session Of
congress In March next legislation
calling for the appointment of a none
tary commission by the president to
consider the entire question and to re-
port tocongress at the earliest day pos
sible or failing to secure the above
legislation, they are hereby authorized
and empowered to select a commission
of eleven members according to rules
and plans set forth in the suggestions
submitted to the convention by Mr..
Hanna, of Indianapolis, as follows:
Article 1.-The commission shall con-
sist of eleven members to be named by
the executive committee appointed by
this convention.
Article 1.-THE first meeting of the
commission shall be held at a time
and place to be designated by the ex-
eclltiwe committee of this convention,
and at such meeting the commission
shall organize by the election of officers
and the adoption of rules and by laws
for it's government.
Article III-All rules and by laws of
the commission and all it's proceedings
shall be directed towards the accom-
plishment of the object of it's creation,
which is to make a thorough 4nvesti-
cation of the monetary affairs and
needs of this country in all relations
and aspects and to make appropriate
suggestions as to any evils found to
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 ex-
penses thereof shall not exceed the
sums set apart for such purpose by
the executive committee.
Article IV-The executive committee
of the convention shall use so much Of
the voluntary contributions made to 1t
as may be available to defray all nee
essary expenses of the commission.
Article V-When the labors of this
commission have been completed as
far as practicable the executive COM
mittee, if it deems it advisable, shall
issue a call TO bring this convention
together again at a time and place
designated in such call, and at the
meeting so convened the committee
shall make report of its doings and
suggestions. and if legislation IS deem
ed advisable shall accompany such re-
port with a draft of such bill or bills
providing for such legislation.
Resolved, That all resolutions and
communications as to methods of cur
rency reform which have peen present
ed to this convention be referred to
such commission when formed.
The firest sentence read caused
great cheering, which interrupted the
reading of the report for some seconds.
Congressman Walker Of Massachu-
setts chairman of the house committee