The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-01-14
GREENBACKS
MUST co.
The Monetary Conference So
Declares
In a Long Series of Result
tiOnS.
INDIANAPOLIS PL.
Is Adopted After a Long ant
Hot Debate.
A Committee Will Besiege the
New Congress.

Indianapolis, Jan. Att was after
o'clock when the monetary conference
reassembled in Tomlinson hall yester-
day afternoon.
1t was not until the last session of
the convention that the spectators got
their moneys worth. Then the hair
flew for a few minutes. 1t was COM
posed of representatives Of the great
commercial bodies of the country, while
the minority was represented by two
members of the committee on banking
and currency of the national house of
representatives. MeSSrS. Walker and
Fowler lost, but they went down into
the valley of defeat with banners fly
ing.
After the convention had been called
to order brief speeches were made by
Mr. Adams of Massachusetts, Mr.. Will
son of Kentucky, and Chairman Hanna
AT the conclusion of his talk, Mr.. Hanna
called upon Mr.. ingalls, of Cincinnati
to read the report of the committee on
resolutions. The report follows:
This convention declares that it has
become absolutely necessary that con-
S1Stent, straightforward and deliberate
ly planned monetary system shall be
inaugurated the fundamental basis of
which should be:
First, that the present gold standard
should be maintained; second, that steps
should be taken to insure the ultimate
retirement of all classes of the United
States notes by a gradual and steady
process and so as to avoid injurious
contraction of the currency or disturb
ances of the business in this, our coun-
try and until such retirement has been
made provision for a Separa ton of the
revenue and note issue departments
| of the treasury. Third, that a banking
| system be provided Which should furn-
| ish credit facilities to every portion of
the country and elastic circulation es-
| pecially with view of securing such a
| distribution of the lOanable capital of
| the country as will tend to equalize
re n i11fn in oil ,,.te
| of.
For the purpose of effectively promot-
| ing the above objects:
| Resolved, That Is members of this
| convention be appointed bv the chair
| man to act as an executive committee
While this convention is not in session
with the full powers of this convention.
| The executive committee shall have the
! power to increase it's membership to
/ any number not exceeding As and five
| members thereof shall at all times con-
| stitute quorum of said committee
| The executive committee shall have
| special charge of the solicitation re-
| ceipt and disbursement of contributions
| voluntarily made for all purposes; shall
| have power to call this convention to-
| gether again, when and where it NAV
seem best to said committee to do so.
| and said committee shall continue in
| office, with power to fill vacancies, until
| discharged at future meeting of this
| convention.
Resolved. That it shall be the duty of
this executive committee to endeavor to
| procure at the special session of con-
| gress, which it is understood will be
| called in March, legislation calling for
the appointment of a monetary com
| mittee by the president to consider the
| entire question and to report to CON
| gress at the earliest day possible.
Failing to secure the above legisIa-
| ton, they are hereby authorized and
| empowered to select a committee OF
| eleven members, according to the rules
| and plans set forth in suggestions sub
| mitted to the convention by Mr. Hanna
| of Indianapolis.
Resolved, That all resolutions and
| communications as to methods of cur
| rency reform which have been pre-
scented to this convention be referred
| to such committee when formed.
After the reading, J. H. Walker OF
| Massachusetts, chairman of the house
| committee on banking and currency
was recognized and hurled a bombshell
into camp. He said:
THE congress of the United States
! through the last congress, deferred ac-
| ton upon the banking system OF this
! country, the presidential election being
! SO near that the whole question was put
( over to the present session.
| This convention was called. What
| have. you? The extra session meets
/ you cannot inaugurate your commission
| before the close of the present con-
gress; you cannot determine whether
| you will appoint this commission by
| this body. That scheme is tried, and