Birmingham state herald., 1897-01-14
THE MONETARY CONFERENCE ea fasaaHa s5--- Adopts a Declaration of Needed
 : Legislation
 -s aau eA-letRL Ia1f
 zen arszrla f-- AN D D.. THEN ADJ0U RN ED
Committee on Resolutions Presents Lengthy
 and Unanimous Report.
A GRADUAL AND STEADY PROCESS
Required to Retire All the United States Notes-Suggestions Looking Toward Placing Funds Tn Available Po-
 sition-Other Business.


 been in session here two days. this after noon adopted a declaration of what leg- islations, in its opinion, is needed upon the subject by a practically unanimous vote. This declaration included a de- mand for the maintenance of the gold standard and the retirement of the de- mand obligations of the government. Accompanying this was a proposition for the appointment of a commission to investigate and report by bill or other wise upon the evils and remedies of the currency system. This was the unani- nous conclusion of the committee on resolutions, result that was expected by the delegates, and the recommends tions of the committee were affirmed by the unanimous vote of the convention. This was not secured, however, without much opposition, and an exceedingly ani- mated debate, with short controversies between Congressman Fowler, of New Jersey, and State Assemblyman Roots, of Indiana, and Congressman Walker, of Massachusetts, and John H. Rhoades, of New York. s.f.frs -ss.
 The feature of the morning session was a speech byuf Congressman Fowler, in which he outlined the cause of the pres ent financial ills and the remedy there for All of the time of the convention
 
 the committee on resolutions was occu- pied in listening to speeches and recom- mendatiopS of features which those pre- senting them wished to have embodied in the declarations of the convention.
 The convention had taken recess twice upon notice that the committee ws.s not ready to report When 1t reassembled after the second recess at 4:30 D. m., H. H. Hanna, chairman of the committee on resolutions, presented the report of his committee and called upon M. E. Ingalls, of Cincinnati, to read it..
 The report, MT. Hanna said, to the sur prise of the great body of delegates, was the unanimous expression of the commit- tee. He asked like unanimous support from the convention and moved the adop- tion of the report. The report was as fol- lows: ~ s- gprtn Gentlemen, of the Monetary Conferences:
 Your committee make the following re- port: cra-f -r,ss fea4rtfq
 This conference declares that it has be- come absolutely necessary that con- sistent, straightforward and deliberately planned monetary system shall be inau- gurated, the fundamental basis of which should be: epa4i
 First-That the present gold standard should be maintained.
 SecondTThat. steps should be taken to insure the ultimate retirement of all classes of United States notes by grad ual and steady process, so as to avoid in- furious contraction of the currency or disturbance of the business interests of the country, and that in such retirement provision should be made for separa- ton of the revenue and note issue de- partments of the treasury.
 Third-That a banking system be pro- vided which should furnish credit facili- ties to every portion of the country and a safe and elastic circulation, and espec- ially with view to securing such a dis f,-i1 of n country as will tend to equalize the rates of interest in all parts thereof for the purpose of effectively promoting the above objects, ft
 Resolved, That fifteen members of this conference be appointed by the chair man to act as an executive committee, while this convention is not in session, with full power of this convention. The executive committee will have the power to increase the membership to any num- Der not exceeding forty five and five mem bers thereof shall at all times constitute a quorum of said committee. The ex- ecrtiye committee shall have special charge of the solicitation, receipt and dis bursement- of contributions made for all purposes; shall have power to call this convention together again when and where it may seem best to said commit tee to do so,-i and said committee shall continue in office, with power to fill va cancies until discharged, at 8 future meet ing of this convention. tNr
 Resolved, That it shall be the duty of this executive committee to endeavor to procure at the special session of congress, which it is understood will be called in March next, legisla ton calling for the appointment of a monetary commission by the President to consider the entire question, and to report to congress at the earliest day possible, or. failing to secure the above legisla tions they are hereby au- thorized and empowered to select a com mission of eleven members according to rules and plans set forth in the sugges- tions submitted to the convention by MT. Hanna, of. Indianap polls, as follows:
 Article 1+The connfiifttee shall consist of eleven members to be named by the executive committee appointed by this convention. The executive committee shall have power-to i'll vacancies In the commission as they may occur.
 Art. 2-The first meeting of the commits sion shall be held at a time and place to be designated by the executive com mittee of this convention in call to be issued therefor and at such meeting the committee shall organize by the elec- ton of such officers and the addition of such rules and bylaws for It's own gov ernment, as may be cagrgeqtto by ma jority of it's members: and thereafter it shall be governed by such, rules and by- laws subject toSthese' articles
 Art 3-All rules and bylaws of the commission and all its proceedings shall be directed towards the accomplishment of the objects of it's creation, which is to make a thorough tnvestiga ton of the moneta ry saffairs andi needs of this coun- try and all relations and aspects, and to make appropriate suggestions as to any evils found to exist and the remedies therefor and no limit is placed upon the scope of such, inquiryeor the manner of conducting ltlfe same, excepting only that the expenses thereof shall not exceed IL the executive committee.
 Art. 1.-The executive committee of this comuittee shall use s&much of the voluntary contributions made. to 1t as may be available fdr that purpose to de
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