The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-01-14
The Session of The National Monetary Con-
ventlon at Indianapolis Adlourns.
A CURE FOR PRESENT FINANCIAL ILLS
The Conference Declares for the GOId
Standard, Retirement of MI United
States Notes nud Increased Bank
ing Facilities An Executive Com.
miitec to Secure Legislation.


been in session here two days. this after
noon adopted a declarati of what leg
isiation, in its opinion, is needed upon
the subject by n practically unanimous
vote. This declaration included Il de-
mand for the maintenance of the gold
standard, and the retirement of the de-
Mand obligations OF the government.
Accompanying this was II proposition
for the appointment of a commission to
investigate and report by bill or other
wise upon the evils and remedies of the
currency system. This was the unani-
solutions, result that was expected by
the delegates. and the recommendations
of the committee were affirmed by the
substantially unanimous vote OF the
convention. This was not secured, how
ever, without much opposition, and an
exceedingly animated debate with short
controversies between Congressman
Fowler, of New Jersey, and State AS
semblyman Roots, OF Indiana, and Con-
gresham Walker. of Massachusetts,
and John Harsen Rhoades, of New York.
TOLD IT ALL OVER AGAIN
The feature of the morning session
was speech by Congressman Fowler,
in which he outlined the causes of the
present financial ills and the remedy
therefor.
All of the time of the convention up TO
the presentation of the report of the
committee on resolutions was occupied
In listening to speeches and recommen-
dations OF features which those present
ing them wished to have embodied in
the declaration of the convention
The convention had taken recess twice
upon notice that the committee was not
ready tor eport. When 1t reassembled
after the second recess. at 4:30 p. M,
II. II. Hanna. chairman of the commit
lee on resolutions, presented the report
OF his committee and called upon NJ L.
ingalls,, OF Cincinnati to read it.
The report, Mr.. Hanna said, to the
surprise of the great body of delegates,
was the unanimous expression of the
committee. He asked like unanimity i'm
support of the report by the convention,
and moved the adoption of the report.
The report was as follows:
THE CURE SUGGESTED.
Gentlemen of the Monetary Confer
ence-fcur committee makes the follow
ing report:
This conference declares that Il has
been absolutely necessary that n consist
ent. aight-forward and deliberatel
planned monetary system shall be inau-
Surated, the fundamental basis OF which
should be:
First. That the present gold standard
should be maintained
second. That steps should be taken to
insure the ultimate retirement of all
classes of United States notes by a grad
ual and steady process, so as TO avoid
injurious contraction of the currency or
disturbance of the business interests OF
the country, and that In such retirement
provision should be made for a separa-
ton of the revenue and note issue de-
partments Of the treasury
BANKING FACILITIES.
Third. That banking system he
provided which should furnish credit fa-
cil!tles to every portion of the country
ana safe and elastic circulation and
especially with a view to securing such
a distribution of the loanable capital of
the country as will tend TO cquailze the
rates of interest in all parts thereof
FOR the purpose of effectively promoting
the above objects:
Resolved, That fifteen members of this
conference be appointed by the chair
man to act as an executive committee
wniie TINS convention is not in session,
with full power of this convention. The
executive committee shall have the pow
er to Increase its membership to any
numper not exceeding forty-five and
hVe members thereof shall NJ all times
constitute quorum OF said committee
1'he executive committee shall have
special charge of the solicitation, receipt
and disbursement OF contributions VOL
unfairly made for all purposes; shall
have power to call this conven ton toge-
seem best to the committee to do so. and
saiu committee snail continue i'm Office
with full power to fill vacancies until
discharged at n future meeting of this
convention.
TO SECURE LEGISLATION.
Resolved. That 1t shall be the duty of
thls Executive Committee to endeavor TO
procure at the special session of Con-
grcss, which 1t Is understood will he
called in March next. legislation call
ing for the appointment of a monetary
commission by the President TO consider
the entire question, and to report to
Congress at the earliest day possible, or
railing 10 secure the above legislation,
they are hereby authorized and empow-
cred to select Il commission of eleven
members according to rules and plans
set forth in the suggestions submitted
to the convention by Mr.. Hanna, of In
dianapolis, as follows:
Article 1.-The committee shall consist
of eleven members to be named by the
Executive Committee appointed by this
convention. The Executive Committee
shall have poyer to fill vacancies in the
commission as they may occur.
Article 2--The first meeting of the
commission shall be held at a time and
place to be designated by the Execu-
tive Committee Of this convention in a
call to be issued therefor, and al such
meeting the commission shall organize
by the election of such officers and the
adoption Of such rules and bylaws for
Its own government as may be agreed to