Warren sheaf., 1897-01-21

THE MONETARY II z Z CONFERENCE. ccoNiFElI,i:li
Discuss Plans Of Currency Reform and
Adopt Resolutions.
Indianapolis, Ind. Jan. 1.-THE ma
tional monetary convention which has
been in session here two days on
Wednesday afternoon adopted q declar-
alton Of what legislation in it's opinion
is needed upon the subject by a prac-
tically unanimous vote. This declara-
ton included demand for the main
tenance of the gold standard and
the retirement of the demand obiiva-
tons of the government. Accompany
ing this was proposition for the APP
pointment Of commission to investi-
gate and report by bill or otherwise
upon the evils and remedies of the cur
rency system. This swas the unanimous
conclusion Of the committee on resolu-
tions, and the recommendations of the
committee were affirmed by the SUBJ
stantially unanimous vote of the con-
vention.
The feature of the morning session
was speech by Congressman Fowler
in which he outlined the causes of the
present financial ills and the remedy
therefor. ~
Mr.. Fowler said that there were three
ways of escaping national bankruptcy at
some time If the present plan is to .e con-
ttnued. First, we can assume full. func-
tons of banking, q step which Is altogether
NJ Z ho 2oCnn6 <h>
people whenever the emergency arises.
which must prove. as it always has, a most
expensive and burdensome. policy and ono
tc which the people will net long submit
third. the retirement of the demand obli-
cations of the government. policy that Is
clearly demanded by our own experience
an approved by that OF other nations as
GU only remedy.
The speakers reference to Cleveland and
Mckinley were loudly applauded.
The conference reassembled at 1880
p. m. NJ. E. Ingalls,, of Cincinnati, read
the report of the committee on resoiu-
tions. 1t follows:
This conference declares that it has be-
come absolutely necessary that a consis-
tent. straightforward and deliberately
CLAIMED monetary system shall be inaugu-
rated, the fundamental basis OF which
should be:
'First-That the present gold standard
should be maintained.
"Second-That steps should be taken to in
s;1re the ultimat e retirement Of all classes of
United States notes by gradual and steadv
process, and SO as to avoid Injurious, con-
traction of the currency or disturbance OF
ths business interests Of the country and
th:- until such retirement provision should
| be made for q separation of the revenue
and note issue departments of the treasury.
"Third-That a banking system be pro-
vlded which should furnish credit facilities
to every portion Of the country, and safe
and elastic circulation, and especially with
4 view of securing such a distribution OF
the loanable capital of the country as will
tend to eQualfZe the rates of interest in all
parts thereof For the purpose of effec-
| lively promoting the above objects:
Resolved, That IS members of this con-
terence be appointed by the chairman to
act as an executive committee while this
convention is not in session, with full now
| uittee shall have the power to increase its
membership to any number not exceeding
as and five members. thereof shall at ali
times constitute q quorum OF said commit
tee. , ~..rsS.- .-a.zt- -. y
1.-THE executive committee shall have
special charge Of the solicitation, receipt
all disbursement of contributions voliln-
tsrily made for all purposes; shall have the
rowe" to call this sconvention together again
when and where it may seem best to said
| shall continue in Office, with power to fill
vacancies; until discharged at future
meeting of this convention. : .
Resolved, Thatit shall be the duty of this
executive committee to endeavor to pro-
cure at the special session of congress
| which 1t is understood will be called in
March next. legislation calling for the ap-
pointment OF monetary commission by
the president to consider the entire ques
lion. and to report to congress at the ear
| lest day possible, or failing to secure the
above legislation, they are hereby author
ized and empowered to select a commission
ot all members, according to rules and
plans set forth in the suggestions submit
ted to the convention by Mr.. Hanna, OF
indianapolis. as follows:
Article 1. The commission shall consist
| IF II members, to be named by the execu-
i've committee appointed by tl-is conven-
ton. The executive committee shall have
rover to fill vacancies in the commission
as they may occur.
Article 2 The first meeting of the COM
| mission shall be held at a time and place
to be designated by the executive commit
tee of this convention in call to be issued
snerefor,a and at such meeting the COM
mission shall organize hy the election of
=tic. officers and the adoption of sucn
rules and bylaws for its own government
u: may be agreed by a majority of it's
members: and thereafter It shall be gov
| e1ned by such rules and bylaws subject
| tn these articles.
Article 3. All rules and bylaws of. the
| commission and all it's proceedings shall
be directed towards the accomplishment
of the objects of its creation, which is to
! HOY ,-H