The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1897-11-10
Semi-Annual Meeting in New York
Yesterday.
VIEWS OF REPRESENTATIVES
FROM DIFFERENT LOCALITIES.
Vice-President Libby's Report From
Maine-Committee Appointed To Pre-
pare Declaration That International
Bimetalism Is Dead.


Bimetalism Is Dead.
New York, November 9.-The semi
annual meeting of the executive commit
tee of the National Sound Money League
(Non partisan) was begun this forenoon
in the eastern Office of the league at No II
Broadway. There were present, President
George K. Leighton, ST. Louis; General
Secretary r. V. Smallet, Chicago; Henry
Willard. Gustave H. Schwab, j. Kennedy
Todd of New York; 81. P. Robinson,
Chicago; Edwin Burnett Smith. Chicago;
j. K. Cowen, Baltimore; NJ. T. ingalls,,
Cincinnati; j. w. Norwood, North
Carolina; W. c. Cornwell, Buffalo, and
Treasurer A. P. Hepburn. Reports on
the political outlook were given by many
of those present and other members Of
the league were heard from by letter.
Hon. j. Sterling Morton, vice president
OF the league for Nebraska, wrote:
Mr.. Bryan and his disciples are
actively engaged as propaganda Of the
money fallaoies. They have united in
one conglomerate all the fanatics, bigots
-'-~ PS5o VI
upholding free coinage Of silver at ratio
of 16 to 1. 1t is very painful to observe
that this aggregation may quite possibly
make majority Of 90, 600 at the coming
election by the candidates who represent
all that Is inimical and disastrous to
| agriculture and in fact to sound govern
| ment everywhere"
| Charles f. Libby, vice president Of the
| league for Maine, wrote in part:
$50 far as Maine Is concerned, do not
| think that the silver question will be an
issue in Congressional campaign next
| year.
~ think that there is feeling that a
more elastic banking system is needed
than is afforded by the present bank sys-
tenn and many believe that the govern
ment should go out of the banking busi-
ness. On one point there seems to be
greater unanimity of sentiment that the
! endless chain should in some way be
broken up and system substituted by
which the burden OF supplying Z all the
gold that is needed shall fall on the banks
rather than on the government"
Louis E. Erich of Colorado Springs re.
ported that nothing but better times can
bring about change in the free silver
sentiment in Colorado. He said: would
now suggest that the league come out
DOllIy anu ASK tu0 fFSSluSuU Ol GQe
United States to proclaim the gold
standard as the money basis of the
country.
President Leighton thought it mex
| pedient for the league to commit itself
upon the point at present.
/ 1t was resolved that a committee be ap-
pointed to consider the report of the
monetary commission when it Is made
and to call meeting of the executive
committee il considered necessary, thai
action be taken thereon.
A committee comprising of Louis r
Erich, Mr.. Leighton, Secretary Smalley
Gustave III. Schwab and VIM. G. Corn
well. was appointed to prepare declara
tion on international bi-metallism to the
effect that bi-metallism is dead and that
gold should be standard of the country.
A recess was then taken.
| Before re-assem bling, the members Of
the committee stated the President Nc
Kinley had intimated his intention Of
recommending in his next message to
Congress the advisability of separating
the issue department Of the treasury from
| the regular government expense account
In other words, it will be proposed to hold
the gold reserve as a redemption fund for
greenbacks and to make the gold and
greenbacks Interchangeable.
When the committee resumed 1s session
Louis r. Erich of Colorado Springs, al
chairman of one of the subcommittee
read the following:
"The executive committee of the
| National Sound Money League in behalf
of it's members throughout the United
| States issues the following address: