New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-13
FOR MONETARY REFORM.
THE ZIG CONFERENCE MEETS.
,ruARKABIE GATHERING OF REPRE-
SENTATIVE BUSINESS MEN OF
THE LAND.

rIoN-.AIL BENT on SECURING FOR THE
COUNTRY CURRENCY OF WHOSE
STABILITY AND VALUE THERE
CAN RE No QUESTION
co,,crence. called at the instance Of the Indian
.nolis Board of Trade. and composed OF repre-
sar,atiyes Of similar organizations from all parts
:, ,he country, assembled in Tomlinson Hall this
.s,s,noon. The arrangement OF the hall was in
~.reral similar TO that for the Gold Convention.
ia N the same place last December The dec
o,;o,s were much more moderate. however,
o,sis;inC Of the National colors draped over the
n,o,form. There was a sprinking of spectators
., the galleries and the hour preceding the be-
timing of business was enlivened by music
from band
Tho convention was called 10 order at 2:35
o'clock by Hugh II. Hanna, chairman Of the
rvccutive Committee. under whose management
,he arrangements for The convention were made,
and who originated the movement eliminating
IN the meeting to-day He introduced The Rev.
7. NJ Haynes. pastor Of the First Presbyterian
Church who opened the proceedings with pray
or In the name OF the Executive Committee.
Mr. Hanna extended cordial welcome to the
delegates They understood and appreciated the
sacrifice made by business men in coming to the
convention at this period of the year
+ " Smith. secretary Of the indianapolis
BOARD Of Trade read the call under which the
convention assembled. The emphatic terms Of
the call. declaring ii to be the sentiment of the
business men of the country that they should
take part in shaping ihe financial legislation of
the country and that they would never agree to
any proposition which would degrade the pres
ert standard OF values. were received with ap-
rsuse
Mr. Hanna presented the report of the Execu-
tive Committee Pursuant to the resolutions Of
instruction adopted at a preliminary conference
December l. it is said the committee has sent
out invitations TO the Boards'of Trade. CONNER
cla clubs and such like organizations of all the
cities OF the United States Of a population Of
5000 and greater. according To the last census.
requesting these to send delegates to this con-
vention There are assembled here 300 dele
gates. representing business organizations of
cities in nc arly every State in The Union.
The committee recommended for the tempo
rary Organization committees on Credentials. on
Permanent Organization. on Rules and Order Of
Business each consisting of fifteen members;
that all resolutions concerning the currency and
banking systems and mode of procedure shall
be referred without debate TO the Committee
on Resolutions. to be appointed by the perma-
nent chairman: that each delegate present shall
be entitled TO one vote: that The hours for hold
ing the sessions shall he: Morning session. 10
a m. to D. M afternoon session. 2:;0 p. IN. to
6 D. m: evening session, p. IN. 10 10 p. m.
For temporary chairman the Executive Com
,ttee recommended T. O. Stanard. Of St
,uis FOR temporary secretary. Jacob W. Smith.
Indian polls. and for sergcant-at-arms
Y. F. C Colt of Indianapolis
EX-GOVERNOR sTANARD's ADDRESS.
The report was adopted. and Mr. Hanna APP
pointed William f. Dodge. Of New-York. and
y. l. Crawford. Of Texas. a committee to escort
Governor Stanard to the PLATFORM Mr.. Stanard
began by reviewing the steps which led to the
convention. He then said:
Il is not my purpose this occasion to suggest
;s t'Sa ,, 'ie OF pohcy 70 De pursued III reineoy
ins 'he evils Of which complaint has been made Jr
that may be suggested here or hereafter. But / |
,nv nird w. sos Vi IN, mos sidiIis uclectS ~
my h!ha IN our financial system In this connec-
uoh IL Is safe for me 10 say that the stability. !
;nS %e smEE ana sdiey OF commeIcai, manuiaciur1
~, .at' odhhl.g ana agricultural operations depend
upon a safe, comprehensive and stable financial |
sieu On 10 ast from one year 10 another. and from
one p0hlcal adminisrati 10 another and 10 be /
as iar as possible out OF the realm of politics.
shd an anairs OF material interest built There
-'NNt-.'
country, and there should be no doubt about it's |
character. and no shaking of confidence take
The people Of the United states not only should |
nav nav confidence III our financial methods but all
'nerclal cations should have assurance Of the
STABILITY Of our financial affairs. that they may
great importance 10 well TO foreign ma
ions. when we take into account that during the
than Sl.0c,co0o worth Of the Surplus of our soil
an9 ne Industries Of our people. and imported
nttle more than S10000.c worth of their products
Inc present financial methods of Govern
msni are largely thos" adopted during the war
mere !. very strong and constantly increasing
, ,Sn, among our people that some method
states and Treasury notes that they should not
much longer be tolerated as a circulating medium.
.er'~ ana TO the credit of the Government and
when encroachments are made upon these reserves
ON inerc' stands In fear and trembling.
There seems 10 be wcll-defned conviction
among business mon from the experience ~ Tho
past that there should be no notes in circulation
when should not be retired and cancelled when
their Office has been once fulfilled. Whether these
notes should be retired at once or gradually am
not disposed 10 say. but Of the necessity of their
would ere them nN BY the sale a of long
bonds az low rate Of interest if there can be no
better way devised for their withdrawal from cir
While am mentioning some of the defects. as
.eheve OF our monetary system which come TO my
National Banking law should not be so amended as
% allow the National banks TO issue notes up to
,AsH fOr their issue, instead Of issuing they
noS compelled 10 do. only - per cent of the par
clue Of tie bonds that cost them perhaps lS to 100
=, ihsn there is tax OF ! per cent the issue of
: d'ona hank circulation, and see necessity
iCI 30 Ian this. as il must ultimately be
PAD by the borrower ] believe the tax should be
tluced 10 One-quartor Of per cent
y. mere many advantages connected with the !
Natlonai banking system OF the country and this
ystem. believe might, with great benefit to all
n,.erested. be extended by allowing. under proper
aieguards. the establishment OF branch banks in
smaller cities with largely reduced minimum Of
] believe cor1
'ank notes
...,hdraw all PAPER money under the denomination
y ,Ne thereby forcing "a larger volume Of silver and
'oin TO circulate In the hands OF the people and |
ION " " ' " '' 0o''s'"''"-
ahaH, manufacturer, farmer. miner. artisan, me-
s nann and iahorer all have community of inter
~ We are here 10 promote In the language Of
,."JaInin Franklin. we must all hang together If
y, ~ Noud not all hang separated The country
eunOl errnnleQIlN IL he -