The times., 1897-04-09
THEIR PLANS TAKING SHAPE
Monetary Conventions Commit
tee FormulateS Ideas.
TO BE SENT TO CONGRESS
The Appointment of Commission
TO Examine Into the Banking
System Urged-Chairman Hanna,
of the Executive Committee, Ex-
plains the Proposed Legislation.

The executive committee OF lne Hlon-
etary convention held at Indianapolis in
January last has at last formulated plan
Congress for it's action, the purpose of
which, il is alleged, is 10 take the firan-
Cial problem out of the political arena
and establish the business Of the coun-
try on a higher plane.
The executive committee, which has
been holding daily sessions at the Board
of Trade rooms in this city since the in
auguration, has presented to the members
OF the Senate tentative plan Tor accom-
piishing the purpose fer which The con-
vention was called, of which the follow
ing is copy:
Joint resolution providing for the appoint
ment OF commission To examine into and
report upon The currency and banking sys-
tenn ofth United States:
Resul we'd, ny The Senate and House oi tiei-
resentatives of the United States OF
America, in Congress assembled, that the
President be, and hereby Is, authorized 10
appoint commission TO consist OF eleven
persons, whose duty it shall be To at once
enter uuon a thorough and comprehensive
consideration OF the currency and banking
system OF the United States and the laws
relating thereto, for the purpose OF as
certainiug necuful changes therein.
The commission shall, within four months
from the date OF its appointment, but not
later than the first day OF November, 1897,
make TO the President a report OF its con-
Clusions and recommendations, covering
the subject matter OF the inquiry, and {
shall accompany said report with such bills
as in its judgment Will carry such recon-
mendations INTO effect.
The commission shall meet in the city
OF Washington and such other place OF
places as it may deem best
The commission shall serve without COM
pensation, but may. subject to the ap-
proval of the Secretary OF the Treasury,
rent offices, and empty clerks, and detray
such expenses as may be incidental and
necessary for the proper performance of
the work of said commission; ana the
members Of said commission shall lie al
lowed their actual and necessary expenses
while engaged in the performance Of the
duties hereby devolved upon them.
The sum of $50, 900, or so much thereof
as may be necessary, is hereby appro,
priated out Of any money in the Treasury
not otherwise appropriat ted TO carry oui
the provisions of this joint resolution.
In discussing this proposition with a
representative or The Times, atthe AIRING
ton Hotel Chairman II. II. Hanna, OF the
executive commit tee, expressed himself as
quite honeful that some such plan as that
outlined in the resolution will eventually
be adopted.
business men everywhere, he said, ''ir-
respective of party, are favorable to a
divorce Of banking and currency from poll
tics, SO that the business interests of the
country shall not be disturbed every time
there is a change in the Administration.
The movement has nothing whatever
to do with the standards Any change that
may be effected will be upon thestandards
as they may exist, and so adjusted as not
to affect one or the other 1t is move
menu to avoid congested conditions which
now frequently occur, and il is one, for
tunauely, in which there are no grounds
for difference among party men. >
1t was gathered from the conversation
that MI Hanna S committee of fifteen, re-
flectiugth views of over 300 delegates as
sembled at indianapolis, and the sentiment
behind them. regards the question as one
which appeals To the business sense OF
the country. The members the committee
are most cordially received by Senators,
representative of all political opinions, and
this the chairman regards as an augury OF
success
II is the intention to have introduced a
resolution, similar to the one quoted, al
the present session. 1t is to be framed sc
as to carefully preserve the idea reflected
from the convention, and while 1T is
possible there WIN be no action at the
present session, it is believed the PROPOSE
ton viii he adopted at the next regular
session.
a copy of the resolution is in the hands
OF each senator, and the members of the
executive committee have daily conferences
with the members, at which there is an
exchange Of views.