The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-01-13


ciai subject, sitting IN Washington, and
make report to Congress OF their conclu-
sions By bill or otherwise. The mem beEs,
other than the Senator and Representa-
tive named, shall be paid for their sew
ices By the Government. Three shall be
BANKERS, three merchants or manufacture
ers and one political economist repre-
senting the several geographical sections
OF the country.
Some Indiana delegates. through E. F.
ClaypOol, presented scheme preiaced by
2 review OF banking experiences IN the
United States, the reading OF which occu-
pied all the time allotted to its presenta-
ton and il went 10 the com mittee on reso-
lutionS without being disclosed 10 the con-
vention.
Mr.. Chadwick of Brooklyn offered
resolution directing the committee or
resolutions TO take INTO consideration the
expediency OF incorporating into the Ma
tional bank system OF the principle OF
Scottish branch banks
Mr.. Peat offered the resolutions adopted
BIZ the ST. Paul Chamber OF Commerce
advocating the maintenance OF the goio
standard, withdrawal OF the Government
from the banking business and the extern
sion OF the national bank system BY the
establishment of branches and the redue-
ton OF the minimum capital STOCK re-
auired Of such institutions TO $4,000.
George G. Tanner OF Indianapolis OF
fered a resolution declaring IN favor OF
reminding Of the National debt. the retire
ment of greenbackS. more expansive sys-
TEN Of National bank currency and the
imposition OF severe penalties upon Ma
tional bank directors for failure OF duty,
TO be presented 10 Congress by a commit
tee Of the convention
II. H. Hanna OF Indianapolis presented
8 scheme for the appolB tment OF & none
tary com mission OF eleven embers, TO &c
named by this convention and TO work st
the expense OF the convention inyesLigat-
ing the financial subject, its conclusions 10
be reported to an adjourned meeting CT
the convention with view TO their pre-
sentation TO Congress II legislation should
be deemed desirable.
John P. Irish, as an expression OF the
views OF the Bankers Association of Cali
fornia, adopted May last and reafirmed
in Decem Der, offered a declaration that
the present gold standard should be main
tanned, and that any attempt 10 lower
that standard would be disastrous TO every
class OF people, and that only so much
silver and paper shall be Issued as the
country can consume, relieving the Gov
eminent of the responsibility OF maintain
ing it at parity with gold.
Eugene lowering OF Baltimore repre-
senting a community noted for Its con-
servatiye banking methods, as evidenced,
he said, by the fact that Baltimore had
had no bank failures for the past sixty
years, presented a series of resolutions
from that delegation declaring that Iegis-
lation was necessary for the maintenance
OF the gold standard, cancellation of
United States legal tender notes, the
simultaneous creation of safe and ez-
pansiye currency upon the basis OF the
Baltimore plan.
S. T. Cadden offered a resolution favor
ing the establishment OF postal savings
banks
T. B. Tedsum OF Savannah, Ga, pre-
sented what he described q q modification
of the Baltimore plan, on the line OF ad-
ditional safeguards around he issue of
notes. It constitutes a statement OF
finance consisting of three comptrollers.
with a deputy in each State, TO have charge
of the public notes and with authority TO
examine all banks OF issue.
Joseph S. Wood OF Mount Vernon, y. Y.
offered a resolution declaring that inter
national blmetallism vas impracticabla
and could not be maintained; that silver
dollars be legal tender at par for no larger
sum than SO; that silver dollars, silver
certificates and Sherman treasury notss
may be exchanged for bonds bearing III
per cent interest, convertible on demand
into notes which shall be received 1or
custom duties; that silver bullion now in
the treasury shall be sold within the next
FIVE years.
b. J. Lowry OF Georgia presented a
scheme prepared By bank official of Al
lauta, YLich included g revival of State
banks as ba nks OF issue, 10 De under the
control Of the States, while Congress
should pass laws which would keep all
kinds OF money upon a parity.
Joseph Wharton Of Philadelphia offered
q resolution declaring against any reduc-
ton OF currency or the efecting of any
currency now IN circulation for any other
that should not command public conf
dence. He said il was the duty of the
Government 10 provide 8 good, stable cur
reney-it cannot go cut OF banking bust
ness.
W. z. Taigg of Richmond, Va, advo-
Gated the repeal Of the 10 per cent bank
tax.
Representative C. \. Fowler of New Jer-
ssy offered resolution providing Tor the
appointment Of e com mittee, consisting of
q mem Der from each State represented in
Congressional committees in securing
financial legislation at the coming session
OF Congress.
Mr. SpIazue, for the Commercial Club
Of Chicago, presented a declaration that
for the best interests Of the country the
Government should go out of the banking
business.
The Toledo Produce Exchange sent a
request declaring it 10 be the duty OF Con-
gress 70 provide safe and ample cur
rencv.
NJ. PringIe of Jackson. Mich, offered a
resolution favoring the repeal OF the State
bank tax.
E. V. SmalIey of Minneapolis, referring
TO the institution OF the Non-P Partisan
National Sound Money League immedi-
ately follozing the late election and set
ting forth its object, offered resolution
commencing the league and its work.
The convention then, at 1920 O'Clock,
adjourned until tomorrow.