The Bourbon news., 1897-01-15
MONETARY CONFERENCE.
Congress to Be Asked to Create a Fl.
nance Commission.
If the President Fails to Appoint. a Com
mittee to Choose One TO Formulate
Plan-Gold the Standard and
Greenbacks to BE Retired.

city is full of fnanciers- At o'clock
Tuesday afternoon the monetary con-
ference was called to order in Tomlin-
son hall, more than 300 delegates be-
ing assembled Hugh II. Hanna,
chairman of the executive commit
tee, appointed at preliminary
conference November Is last, and
his associates had selected the fol-
lowing temporary officers: E. o. Stan
nard, ex-governor of Missouri, tempo
rary chairman; J, w. Smith, secretary
of the local board of trade, and also of
the executive committee, secretary.
Later Smith gave way to Evans Wool
len as permanent secretary. He is the
secretary of the Commercial club, of
Indianapolis.
Mr.. Stanard, on taking the chair.
spoke Is minutes.
Among other things, he said: 1.-THE
present financial methods of our gov
ernment are largely those adopted
during the war, when there were great
emergencies. / believe there is very
strong and constantly increasing con-
viction among our people that some
method should be adopted for the re-
tirement of the United States and
treasury notes. l would retire them
by the sale of long government bonds
at low rate of interest"
Mr.. j. w. Smith, secretary of In
dianapolis board of works, read the
call under which the convention as
sembled. The emphatic terms of the
call declaring it to be the sentiment of
the business men of the country that
they should take part in shaping the
| financial legislation of the country
and they would never agree to any
proposition which would degrade
the present standard of val
ues, were received with applause.
Mr.. Hanna presented the report of
executive committee pursuant to the
resolutions of instructions adopted at
a preliminary conference December 1.
1t is said the committee has sent out
invitations to the boards of trade, COM
mercial clubs and such like organiza-
tions of all cities in the United States
of a population of 5000 and greater,
according to the last census, request
ing them to send delegations to this
convention. There are assembled here
800 delegates, representing business Or
! carnations of cities in nearly every
state in the union.
The committee recommended for the
temporary organization a committee
on credentials, on permanent organ
| ization, on rules and order of busi-
ness, each consisting of Is 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
permanent chairman; that each dele
gate present shall be entitled to one
vote; that the hours for holding the
sessions shall be 10 a. m. to l p. m,
2. 30 to 6 p. m, and s to 10 p. M.
The committee on permanent organ
ization recommended the name of c.
Stuart Patterson, of Pennsylvania, for
president and a vice president from
each state represented. Evans Woolen.
of Indianapolis, was named for per-
manent secretary, and w. F. c. Colt,
sergeant-at-armS It was also recon-
mended that the other committees
named be continued, and that com
mittee on resolutions of one from each
state be appointed. Adopted.
Mr.. Patterson was escorted to the
platform by Messrs. E. B. Martindale
and H. H. Hanna, of Indianapolis,
and Mr.. Lowry, of Atlanta, Ga: He
addressed the convention.
In accordance with the provisions OF
the report of the committee on perma.
nent organization, the state delega
cations elected vice presidents and
members of the committee on resolu
tions.
Hon. j. H. Walker, of Massachusetts,
chairman of the house committee or
banking and currency in the present
congress was invited to address the
convention, which he consented to do
At the conclusion of Mr.. Walkers
remarks the convention took reces:
until o'clock Tuesday evening.
At the evening session Mr.. Daus
man, of Chicago, presented the frs
proposition for the consideration o
the convention. 1t provided for the
appointment of a committee of nine
mem bers, to be appointed by the pres
ident of the United States within 81
days, including one member from tht
senate committee on finance and one
from the house committee on banking
and currency. The committee shall
investigate the financial subjec
sitting in Washington and mak'
, report to congress of their conclusion!
by bill or otherwise. The member
other than the senator and representa-
tive named shall be paid for their serv
ices by the government. Three shall
be bankers, three merchants or manu-
facturers and one a political economis
representing the several geographical
sections of the country.
George Z. Tanner, of Indianapolis
offered a series of resolutions declar
ing in favor of refunding of the na
tional debt, the retirement of green
} backs. more expensive system of na
l tional bank currency and the imposi
ton of severe penalties upon nationa
+; bank directors for failure of duty, t
be presented to congress by commit
tee of the convention.
INDIANAPOLIS, Ind, Jan. 14-Th