The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-01-13


than those of mere party spirit.
Meeting as citizens to consider O sub |
ject Of common interest to the whole coun- |
try, II is fitting that we should come to-
gcther in the middle West. which Is today |
an empire, in this great city. where last |
autumn the victory was won for the honor |
OF the Nation. In this typical American
city OF indianapolis.
Let us approach the grave subjects that
arc to be brought before us with no pride
of opinion, but In the spirit OF that old
maxim which tells us that in all things
necessary there should be unity: IN things
doubtful liberty. and in all things charity.
But let us refuse TO recommend ANY
compromise of principle. for such compro-
misses have always failed to accomplish
their desired end. because OF their Inherent
ability to destroy the Irritating cause and
because of their essential inappIicahili,y to
changed conditions and circumstances.
This country it an empire In its extent
OF territory, In tho number of It's popula
tion and in the magnitude of its material
interests. There are densely populated
areas Of territory. and there are scan,ily
populated areas OF territory. In the former
there Is an adequate, and perhaps In some
places an excessive. supply OF banking
facilities. In the latter there is de-
flciency OF banking facilities. Where these
banking facilities exist TO an adequate on
tent. not only are means of accommoda-
ton provided for responsible borrowers
but there are also supplied those credit
substitutes for money in the shape of
checks and drafts, which increase the vol
TIME Of currency at times when such an
Increase Is needed by these people. Whore
these banking facilities do not exist to an
adequate extent unduly high rates OF inter
est prevail and the demand for currency
exceeds the supply. We. therefore. need
for domestic purposes currency of stable
ALI .Nf ft,I1 t.t,
shall be neither redundant nor contracted
and which shall flow into the channels of
trade when. and as. the interests OF the
country may require.
This country has extensive commercial
relations with other countries. The CON
iinuod development of the West and South
demands that the surplus capital of the
world should be brought here for rcmuner-
alive Investment. II is in no sense incon-
sistent with the protection OF the homc
market that we look forward to the growth
and increase of our foreign commerce, so
that our agricultural. mining and manufac-
| turing products shall find that larger mar
ket which will give to American industry
greater returns. From our international
relations VIC need therefore a currency
which shall he OF fun value in the markets
OF tho world
"Wo may differ MS to questions OF pro-
| lection or OF revenue reform, but we can
| agree that the government must have
revenue adequate TO its necessary oXpcndi-
| lures, and with surplus sufficient to pro
vide for possible contingencies. We can
| agree that. as that revenue might be raised
| by taxation. that taxation should be
| imposed as to lay it's burdens upon the pco-
plc in the manner that can most easily be
F., borne We can agree that the existing
| standard of value shall be maintained We
| can agree that bimetalllsm would be dcsir
| uhlp If N pOult hp secured nv Internal iNn1l
treaty and made practically effective. We
| can agree that there ought to be an en-
| large use of silver coins convertible nj
par into gold We can agree that so LONG
as the governments demand notes are out
standing provision should be made by law
| for the maintenance OF an adequate gold
reserve. specifically pledged for the re-
-dcmption OF these notes.
| I'VE can agree as TO the fact that while
in some cases shareholders of and deposit
ors In National banks have lost by un-
skillful or unfaithful management, yet no
holder of National bank note has ever
| had occasion to inquire what bank issued
the note. or has ever lost any part OF the
amount of the note. We can also agree
that the National banking system should
be so amended as TO provide some method
for the more general extension OF banking
facilities to all parts OF the country. Ana
chiefly we can agree that the right solu-
tlbll Oh lit tuIItHCN NutsAlpH Nv iN' Va
terest of the whole people and of all the
people, is of grave Importance and should
be the subject of more deliberate and de-
tailed consideration than this conference
can, at its present session extend to it,
and may properly be referred to such meth
cd OF investigation as you, in your Wis
| dom may decide Upon all these questions
IL Is for YOU TO determine the action OF
the conference.
"When the conference which framed the
constitution of the United States was about
| to assemble, Washington said: II. to please
the people, we offer what we ourselves Chs
| approve. how can we aItorwari delond oar
work? Let us raise standard to which
the wise and honest can repair. The event
Is in the hands of God Let that view,
expressive of the highest craftsmanship and
the trucst patriotism. control our action.
Let us raise standard 10 which the wise
and honest of all parties can repair.
I'm this country the people are sovereign.
Nowhere else In the world Is there more
general diffusion OF intelligence or a higher
average Of moral character. The people
must MS the tribunal OF last appeal. deter
mine what the currency of this country
will be. The nation has survived the shock
Of foreign and of civil var. IT has over
come the dlsintcgrating influences of the
cxpansion OF territory and The growth Of
nopulation It has successfully resisted the
attempt to lower the standard OF value
Lei us have confidence enough in the
people and faith enough In our free insti-
tutions to believe that in tho future as in
the INST the people Will rightly determine
the questions which shall be submitted to
them
The Night Session.
At tonight's session a flood OF proposl-
tions for the reform Of the currency was
submitted and referred to the committee
ON resolutions
The Chicago delegation advised the ap-
.pointment OF a commission with instruc-
tions to report bill to congress not later
than January J.. 1895. Members OF the
commission to he named by the president
of the United States.
great deal OF Importance is attached
TO "A plan reported by Chairman Hanna OF
the National monetary committee II pro-
yides for the creation OF commission to
be called "the monetary commission TO
consist OF eleven members, these TO be APP
! L.. la This g