The herald., 1897-01-14
TIE UNITED STATES
FINANCIAL system
AS II Is Now and as 1t
Should Be
sure CURES OFFERED By The SCORE
For all the Ills That AffliCt Our
Money
RETIREMENT OF GREENBACKS
The Most Powerful Panacea For Pecunl-
ary Pressure
And the Only Practical Solution Of Financial
Question
with No Unnecessary Frills and Little
RETIREMENT OF GREENBACKS
The Most Powerful Panacea For Pecunl-
ary Pressure
And the Only Practical Solution Of Financial
Question
with No Unnecessary Frills and Little
Oratory. the Indianapolis None
tary Conference Gets Down to
the Work of Reform.
Associated Press Special Wire

Associated Press Special Wire
INDIANAPOLIS, Ind, Jan. 13-At
1890 o'clock today the first morning ses-
sion of the monetary conference was
called to order. The convention has peen
conspicuous by the absence OF unneces-
sary frills. Business has been trans
acted. Prosy speeches have not been
tolerated The delegates this morning
were seated by states, much better ar
rangement than the day before. The
chief event Of the morning session was
the speech Of Congressman Fowler OF
the banking and currency committee,
IN which he said: There are three
ways of escaping national bankruptcy
at some time, If the present plan is to
be continued. First. we could assume
full functions of banking. step which
is altogether out of the question. Sec
ond, we can tax the people whenever the
emergency arises, which must prove, as
It always has. most expensive and
burdensome policy, and one to which the
people will not long submit Third, the
retirement of the demand obligations
OF the government, policy that Is clear
ly demanded by our own experience
and approved by that of all the rest
of the world. That is the only practi-
cal solution, and 1t is our only remedy"
M Fowler said that the late CAM
paign involved the personal integrity
of every man living under the American
flag Whether he desired to do so or not
n <lifsarapt tar,,,;p tio,, of tha isr.lla
would hay e compelled him to defraud his
creditors.
Continuing, Mr.. Fowler said: For
tunately for the honor of the nation, for
tunat tely for the prosperity of the peo-
pie, the Republican party at st. Louis
declared for the gold standard; FORUM
ately for the Republican party there
proved to be in the Democratic party a
grand army of patriots who loved the
honor of the country more than the sue
cess of their party and, supported Nc
Kinley.
IF the United States is to continue the
paving functions of a bank. it must
without delay open its doors for depos-
its and discount the paper of our mer-
chants. thereby acquiring the power of
protecting it's reserves and establishing
~-->
export of gold whenever such move
ment is undesira ble."
IN COMMITTEE.
At / o'clock the committee on resolu
tions took recess Of ten minutes. AT
that hour it had been decided to adopt
with some notifications the idea pre-
sented to the convention by M. H. Han
ma, known as the Indianapolis plan. The
committee also indorsed the proposition
hNdv cnnRrpSC
of the present conference on the plan
OF the transmississippi congress.
The liveliest of discussions in the COM
mittee room grew out Of proposition
for permanent commission by the pres
ltdent of the United States or monetary
conference.
H. L. Remmel of Arkansas advocated
the California plan, presented by Col.
John p Irish, embodying the sentiment
of the sound money men of the west.
Charles 1. Libbey of Maine favoredth the
Chicago idea, which meant the appoint
ment Of commission py the president
Of the United States.
Franklin MacVeagh of Chicago closed
the debate before recess In favor Of the
Chicago plan. He forced the committee
to vote on his proposition and was de-
feated. N
The following subcommittee was ap-
pointed to draft platform for action
by the main committee: M. B. Dodge
Minnesota; M. Z. Ingalls,, Ohio; B. Bull
lock. Georgia. g. A. Fletcher Michigan;
Charles I. Libby, Maine.
The committee decided favorably on
the proposition to make the monetary
conference permanent.
AFTERNOON SESSION.
The afternoon session was called to
order at 2:45. Word had been received
by Chairman Patterson that the COM
mittee on resolutions would not be ready
to report until 4S0. Mr.. Tucker moved
that the convention take a recess until
that hour. The secretary read resolu-
tion passed by the senate of Indiana
inviting the members of the monetary
conference to visit the legislature al
its convenience and a recess was taken
until o'clock.
1t was after o'clock when the confer
ence re-assembled in the afternoon.
After the convention had been callet
to order, brief speeches were made bJ
Mr.. Adams of Massachusetts,. Mr. vii
son of Kentucky, and Chairman Hanna
At the conclusion OF his talk Mr.. Haunf
called upon Mr.. Ingalls, of Cincinnati Il
read the report Of the committee on res
olutiops
THE RESOLUTIONS.
Gentlemen of the Monetary Conven.
tion: Your committee makes the follow.
ing report:
This conventionI declares that II has
become absolutely necessary that 4
consistent, straightforward and, iNelih.
erately planned monetary system shal
be inaugurated, the fundamental basis
of which A1euld be;