The citizen. (Frederick City, Md.) 1895-1923, 1897-01-15
MONETARY MEETING
Tho Indianapolis Conference Gets
Down to the Real Work.
MUCH INTEREST IN PROCEEDINGS
Gov. Stannard's Recommendations Meet
with Favor---FairchiId Addresses the
Convention---First Proposition
from Chicago.

from Chicago.
Indianapolis, Jan. 13.-Although the
proceedings of the national monetary
convention would not seem to be so
great an attraction, still the sessions in
Tomlinson hall are being attended by
a big gathering of spectators, many
women also being sprinlSled among
the visitors in the galleries. The call
read by the temporary chairman de-
elared it to be the sentiment of the
business men of the country that they
should take part in shaping the tinan
cial legislation of the country, and that
they would never agree to any propo-
sition which would degrade the pres
ent standard of values. Mr.. Hanna
presented the report Of the executive
committee. The committee recon-
mended that all resolutions concern.
ing the currency and banking systems
and mode of procedure shall be re-
ferred without debate to the committee
on resolutions, to be appointed by
the permanent chairman, and that
each delegate present shall be entitled
to one vote. e. D. Stannard of ST.
Louis was chosen temporary chairman.
In his address he recommended that
the greenbacks should be retired, that
national banks should be permitted to
issue notes up to the par value of bonds
deposited to secure their payment; that
paper notes of less than $5 or $40,
should be circulated in the interest of
more general use of silver. These
recommendations seemed to meet the
general approval of the delegates.
FairchiIds Address.
Ex-secretary Charles s. Fairchild
of New York was then introduced and
address the convention. He said, in
part, that nothing can exceed in inn
portance the purpose which has
brought this gathering here. For the
first time in the history of govern
ments a scientific financial question, a
monetary questjln, was submitted to
the people for T pular considerationsin
our last election. 1t was great test
of our institutions, not alone in the
way in which it was decided, but on
the whole in the spirit with which it
was considered. Now, the necessity
is before the country of going onward
and upward in another direction, and
unless the educated, commercial and
business community is alive and be-
stirs itself to influence public opinion,
to educate not only their neighbors
but themselves. as to what is wise and
best, then we will never attain a wise
result Therefore, he declared that it
was most encouraging that these bust
ness men of what we call the middle
west have invited their fellow business
men from all parts of the country to
come here and counsel together how
best to improve the tools with which
we transfer our property and our serv-
ices from man to man, from city to
city, from state to state, and from ma
ton to nation.
First Proposition Presented.
The committee on credentials then
reported that 270 delegates had been
enrolled, representing trade and COM
mercial organizations OF various cities.
The committee on permanent organ
ization recommended the name of c.
Stuart Patterson of Pennsylvania for
president and a vice-president from
each state represented. The report was
adopted. After Mr.. Pattersons address
J. Harson Rhoades was recognized and
allowed twenty minutes to present the
views of the New York chamber of
commerce, which he represented He
denied with much feeling the charge
that there is hostility in New York
and other cities of the east toward the
west. Mr.. Dausman of Chicago pre-
sented the first proposition for the
consideration of the convention. 1t
provided for the appoinement of a COM
mittee of nine members to be appoint
ed by the president of the United
States within thirty day, including one
member from the senate committee on
finance and one from the house COM
mittee on banking and currency, to
investigate the subjedts and report to
congress by bill or Otherwise.