Omaha daily bee., 1897-01-14
FAVOR THE GOLD STANDARD
Delegates to Monetary Conference Declare
for the Yellow Metal.
RECOMMEND RETIREMENT OF NOTES
Executive Committee Provided For TO
Secure Proper Legislation by
ConEress-Thc Conference
AdJourns Sine Die.

90, their noney's worth Then the hair flew
for a few minutes The convention was III
vided but the majority won. 1t was com
posed OF representatives OF the great com
mercal bodies of the country, while the
minority was represented by two members
OF the committee on banking and currency
of the national house of representatives.
Messrs Nash and Fowler lest, but they went
down into the valley of defeat with banners
hyng.
After the convention had been called to
order, brief speeches were made by Mr.
Adams of Massachusetts, Mr.. Wilson OF Ken
lucky and Chairman Hanna At the close
of his talk MIR. Hanna called upon Mr. In
gals OF Cincinnati to read the report OF
the committee ON resolutions. The report
followa:
This convention declares that 1t has be-
come absolutely necessary that a consis-
tent straightforward and deliberately
planned monetary system snail be inaugu-
rated, the fundamental basis of which
should be:
First-That the present gold standard
Second-That steps should be taken to
insure the ultimate retirement of all classes
of United States notes by n gradual and
steady process, and so as to avoid IN
furious contraction of the currency or dis
turbances of the business of our country,
and until such retirement provision should
be made for n separation of the revenue
and note issue departments of the treas
ury.
vided which should furnish credit facilities
TO every portion of the country and elastic
circulation, especially with view of Sc
curing such a distribution of the loanable
capital of the country as will tend to
equalize the rates of interest In all parts
thereof.
For the purpose of effectively promoting
the above objects,
Resolved, That fifteen members of this
inn ha a1 hn oh m n
to act as an executive committee while
this convention Is not in session. with the
fun powers of this convention. The eXecu-
tive committee shall have the power to
increase it's membership to any number
not exceeding forty-fve, and five members
shall at all times constitute a quorum of
said committee The executive committee
shall have special charge of the solicita-
ton receipt and disbursement of contri-
buttons voluntarily made for all purposes;
shall have power to call this convention to-
Eether again when and where II may seem
best to said committee to do So and said
committee shall continue in office, with
power to fill vacancies until discharged at
future meeting of this convention.
Resolved. That IL 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, legislation calling for the
appointment of monetary committee by
the president to consider the entire ques-
Hest day possible. Or, failing to secure
the above legislation. they are hereby en-
powered and authorized to select com
mittee of eleven members according to the
rules and plans set forth in suggestions
submitted to the convention by Mr. Hanna
of Indianapolis, follows:
Article l. The committee shall consist of
eleven members, to be named by the legis-
iaatlve ,c committee appointed by this conven-
tlon, The legislative committee shall have
power TO MI vacancies in the committee as
they may occur
mittee shall be at a time and place TO be
utSiEnated py the executive committee of
this convention on call to be issued there
for; and at such meeting the convention
slal organize by the election of such Off
GERS GERS and The adoption of such rules and by
Jaws Tor ITS own government as may be
asreeu by a majority of its members; and
thereafter 1t shall be governed by such rules
ana bylaws subject to these articles
Article 3. All rules ana bylaws of the
commission and all its proceedings shall be
objects of its creation which is to make
athorough investigation OF the monetary
anairs and needs of this country in al re-
lations and aspects, and to make appro-
pirate suggestions as to a:iy evils found to
exist and the remedies therefor. and no
limit Is placed upon the scope of their in
qulry' or the manner OF conducting the
thereof shall not exceed the sums set apart
Tor such purpose by the executive commit
tee.
Article A. The executive committee Of this
convention shall use so much of the volun-
tary contributions made to 1t as may be
necessary expenses Of st the 9 commIssony f5ny and nd
shall notify the commission from time to
'iAA' VI tllt amount 50 dNdllaDle, so they
may regulate its expenditures accordingly
ana no liability shall attach to said com
mlttee or to this convention beyond the
Article s. When the labors of this com
imritte,e have nav been completed so far as ,prac-
tleable the executive committee, II it deems
advisable, shall issue n call to bring this
convention together again az time and
place designated in such call; and at the
meeting so convened the committee shall
make report of it's doings and suggestions
In such manner and form as 1t shall deem
best adapted to present the same to this
conyention and its members for action, and
accompany such report with draft of such
BIZ or bills providing for such legislation.
Resolved. That all resolutions and com
municatlons as TO methods of currency re-
form which have been presented to this CON
yention be referred to such committee when
WALKER HURLS A BOMB.
After the reading of the resolutions ]. H.
Walker of Massachusetts, chairman OF the
house committee on banking and currency.
was recognized and hurled bombshell
Into Camp Peaceful. He said:
Tho congress of the United States
through the last congress deferred action
upon any reform of the finance and banking
system OF this country. the election being so
near that the whole question was left over to
the present congress. At the first session
OF this congress, for the same reason, Il
was delayed until the present session OF
congress. The committee on banking and
currency of the house. and the finance COM
lnlNtte OF tne senate nave taken no special
action, but up to the present moment 1t has
been determined that before this congress
closes there should be some definite scheme
formulated TO be presented to the proposed
extra session OF the Fifty-flfth congrols.
And but for this convention some scheme
would have been provided. This convention
was called. What have you done? The
extra session meets. you cannot inaugurate
your commission before the close Of the
present congress; you cannot determine
whether you will appoint this commission
by this body That scheme is tried and then
II goes over to the regular session of con
sress and when the next congress is elected,
II legislation 10 not had before you will not
get 1t. You will not. In my judgment get
IL for ten years. l don't believe there is a
member of congress here nor In Washington
who believes that by the machinery you have
designed here anything can be accomplished
until the Fifty-slNth congress | ask you
n you wish to face the people again In the
financial condition tina, has been revealed to
them?"
In closing MIR. Walker said: NOV l did
propose that you say something about the
methods OF securing legislation, II there had
been the slightest encouragement from this
convention. but want TO say that you have
damned the whole reform, damned IL heye to-
day In the weakness Of human nature, ana
there Is no salvation"
HN