The Valentine Democrat. [volume] (Valentine, Cherry Co., Neb.) 1896-1898, 1897-01-21
WORK OF THE CONFERENCE AT
INDIANAPOLIS.
Declares for Gold, for the Retir eneut
of Treasury Notes, for Freer Bank
ing and for a Monetary Commission
to Suggest Reforms.
The Scheme in Detail.


as to what should be done, and that there
was considerable difference of opinion as
to the proper mode of procedure. The
! committee on resolutions. composed of one
delegate from each State, examined care
fully all the manuscripts filed with it,
and, after a session of twelve hours, the
following resolutions were unanimously
| recommended
This convention declares that it has be-
! come absolutely necessary that consistent,
+! straightforward and deliberately planned
| monetary system shall be inaugurated, the
| fundamental basis of which should be:
1. That the present gold standard should
| be maintained.
| 2. That steps should be taken to insure
| the ultimate retirement of all classes OF Uni
| ted States notes by gradual and steady
| process and so as to avoid injurious contrac-
| ton of currency or disturbance of the buSi-
| ness interests Of the country, and that until
such retirement provision shall be made for
| a separation of the revenue and note issue
| departments OF the treasury.
| g. That a banking system be provided
| which should furnish credit facilities to ev-
| cry portion Of the country, and an elastic cir
| culatiOn, especially with q view of securing
| such distribution OF the loanable capital Of
| the country as will tend to equaliZe the rates
| of interest in all parts thereof. For the pur-
| pose of effectually promoting the above OBJ
jects:
| Resolved That fifteen members Of this
| convention be appointed by the Chairman
| 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
| its membership to any number not exceeding
| forty-fve, and five members thereof shall at
| all times constitute quorum of said COM
mttee.
! The Executive Committee shall have spe-
| cial charge of the solicitation, receipt and
disbursement of contributions voluntarily
made for all purposes; shall have power to
call this convention together again, when
| and whore it may seem best to said commit
tee to do so, and said committee shall con-
tinue in office. with power to fill vacancies.
until discharged at a 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 Congress which il
is understood, will be called in March next.
legislation calling for the appointment of a
monetary commission by the President to
consluer the entire question, and to report to
congress at the earliest day possible; or
railing to secure the above legislation they
are hereby authorized and empowered to Sc
lect commission of eleven members. ac-
cord1ng to the rules and plans set forth in
the suggestions submitted to the convention
by Mr. Hanna, of indianapolis, as follows
Article L. The commission shall caG1sist Of
eieVen members, to be named ~ TIE rXecu-
tive Committee appointed by tbs C2nyen-
ton. The Executive Commiftee saa 2 lave
power TO I'LL vacancies in tbe cP.ihu4ission as
they may occur.
Art. 2. The first meeting u the commits
sion shall be held at a time ana pace 10 De
designated by the Executiye committee OF
this convention in a cali ~ be Issued there
for; and at such meeting the commission
shall organize by the election OF such ofhcers
and the adoption of sucn rules and bylaws
for it's own government as may De agreed
by majority of it's merlbers, and thereafter
it shall be governed h1 such rules anu Dy-
laws, subject to these PFucies.
A <.
mission and all it's proceedings shall be di-
rected toward the accempl OF the OBJ
ject of it's creation whch is to make
thorough investigation of the monetary af-
fairs and needs of this country, in all rela-
tions aud 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 inquiry,
the manner Of conducting the same, except
ing only that the expenses thereof shall not
exceed the sums set apart for such purpose
by the Executive Committee.
Art. 4. The Executive Committee of this
convention shall use much of the voun.
tary contributions made to it as may be avail
able for that purpose, to defray all necessary
expenses Of the commission and shall notify
the commission from time to time of the
amount so available. in order that it may
regulate its expenditures accordingly; and
no liability shall attach to said committee or
to this convention beyond the amount so
notified.
Art. 3. When the labors of this commission
have been completed so far as practicable,
the Executive Committee, if it deems it ad-
visable, shall issue a call to bring this con-
Venticn together again at q time and place
designated in such. call. and at the meeting
so convened the commission shall make re-
port OF its dOlngS, and suggestions in such
manner and form as it shall deem best
adapted 10 present to this convention and
lts members for action; and, if legislation is
deemed impossible, shall accompany such re-
port with a draft of such bill or bills provid-
ing Tor such legislation.
Resolved, That all resolutions and COM
nunlcat1ons as to methods of currency re-
form which have been presented to this con-
Ventlon be referred to such commission
when formed.
This plan was put together by w. B.
Dodge of Minneapolis, NJ. E. ingalls, of
Ohio, Rufus B. Bullock of Georgia. N E.
Fletcher of Michigan and Charles I. Lib
hey of Maine. In committee there was a
long debate.
J. II. Walker of Massachusetts. chair
man of the Committee on Banking and
Currency Of the national House of Rep
resentatives. attacked the PLAN He de-
clared that but for this convention Con-
gress would have come forward with
some scheme for the reformation of the
currency system.
Congressman Fowler of New Jersey de-
clared that any commission appointed by
the convention or at its suggestion would
seem to the Committee on Currency and
Banking and the Senate Finance Commit |!
tee as bearing the assumption that the
members of those committees are not able
to draw a bill for bringing about the re-
form sought. "The members of Congress
are not absolutely ignorant" said he, land
all the wisdom of the country is not out /
side"
]. II. Rhodes of Massachusetts sustain
ed the plan in a speech that charged Con- !
crosses for ten years back with indiffer- ,
ence to petitions, appeals and popular !
demand.
There was uproarious applause from all .
parts of the hall. When it had subsidized |
Mr.. Walker said: IF this sentiment is to I
be applauded in this convention, l have
nothing more to say"
The previous question was demanded. /
Congressman Fowler, seeing that the con-
vention was against him, withdrew his /
proposed amendment to the report of the !
committee, and the committee report was
adopted
Cigar Box Cedar Scarce.
There is said to be scarcity of CE- .