The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-01-13

~A@t+@taAst VI AAar NA~E&AAAE committee
~ 1iaf na9neiary confersnce. caEed faat
Dosiy 20 order a. Tcm4lnson hsM this after
room a. 20 o'clock. A. trat tine there
~sfe seated in tas auditorium over S.D DEL
es@tes. wao represent Business interests
Assay run up tn value to the hundreds OF
ini.ions. L was a fsne-lookE.lg body OF
men whose o51eeg Is 70 attempt g reform
% tae governments currency system. The
meeting vas opened sxfth a prayer by the
Rev. NJ T. Haynes. Of the First Presby-
eerian church. ex-PressdeHt HarriSon's
place OF worship. Then Mr.. Hanna deliv-
eFeo brief we.CoFning address, and Tenn
poTary Chairman Jacob W. Smita read the
cal sent cut by the executive committee.
NeAt came the recommendations OF the
eofnmittee for the temporary organization.
naming +. o. Stanard. OF St Louis, as
temporary chairman. Jacob W. Smith. of
indianapolis. as temporary secretary. and
W r c. Gott, of indianapolis. as ser
geant-at-arns. Ia the chair Mr.. Stanard
said.
Needed Financial legislation.
The stability prosperity and safety Of
our commercial. manufacturing. banking
ana agricultural operations depend upon
= as safe comprehensive and stable finan-
Slai policy for our government. a policy
tnat may be relied on 10 last from one
year 10 another. and from one political
administration 10 another. and 10 De Ia
tt eAS Aa4 as tx1-IHkE O4L OF the realm
ol politics. There should be enough money
% do The business of the country and
there should be no doubt about Its char
aeteF and no shaking OF confidence 10
take i out and keep II out OF circula-
ton. The people OF the United States not
only should have confidence In our lnan-
ciAl Methods but ali other nations OF the
earIh with whom We have commercial
relations. should have assurance OF the
STABILITY OF our financial Institutions so
taat they may know on what basis they
are working The present financial meth
oas o. the government are largely those
adopted during the war, when there were
great emergencies. Some method should
o. adopted FOR the retirement OF ths
United States ard treasury rotes They
have been hindrance TO the prosperity
OF our government for many years. They
are constant menace TO our treasury re-
serve, 4nd 70 the credit Of the govern
ment. and when encroacnMeuts are made
upon those reserves. commerce stands in
fear and trembling.
Il see no reason Why this law should
not De 50 amended as 10 allow national
banks 20 issue notes up TO the par value
OF the bonds they hold as a basis for their
issue instead of Issuing. as they are now
compelled 70 do. only % per cent. of the
par value OF the bonds that cost them
perhaps lis 10 10. This would help In Civ
ing Us a larger volume OF circulation and
De an tnducement 70 the banks 70 issue ali
ne bills they could under the new law.
Then there Is tax OF per cent. on the
Issue OF the national bank circulation. and
see no necessity for 50 large q tax. as
u must ultimately be paid by the borrow
er. The tax should be reduced TO one
fourth OF per cent.
There are many advantages connected
with the national banking system and the
system might. with great benefit 70 sil
Interested be extended by allowing. under
proper safeguards. the establishment OF
branch banks In smaller cities and largely
reduced minimum OF capital
There are many suggestions OF reform.
4 NFa t% 20 withdraw a HnHar
ths denomination Of Sle thereby forcing
q larger volume Of silver and gold 20 cir
cnlafe in thu hands ot the people. and this
Is Weil worthy Of favorable consideration.
Il an sure the banker. merchant. pro-
fessional man. manufacturer, farmer
miner, artisan. mechanic and iab8rer al
have a community OF Interest in the cause
We are here 70 promote The country can
rot permanently prosper II any Of the es-
sential interests are neglected OF sacFt-
Feed All legislation should be for the
Permanent Organization Effected.
The usual committees we're then ap-
pointed. AmoHg the Western men honor
~ by appointment 20 committees were the
following:
on permanent orgauiza tiop-T. G. Pow
er. Helena. Mont; John y. simpson.
Dallas. Tex william H. Beck. Sioux
CITY
Rules and order OF husinesss-T. c.
Power Helena; William Daggett. otturn-
va. In.
on eredentaIs-s. C. scuddsr. San An.
tonic. Tex.
When the several committees retired
there were calls Tor speech from Charles
Fsirchild. who appeared ard spoke at
considerable length on the action OF The
sound money forces IN the late nresider-
tts} compaign Tie closed by predicting
that tae conclusions Of the convention
wou.d ee booked forward 10 With the great
est interest By the entire business werfH.
John +. irish Of California was next
called. Hc said it was the business Of ths
convention 70 suggest - the lawmakers
a Say cut cf their difficulty
The oTunittec on credentials then -
ported. Tnere we're no contests The
number of delegates presenting credentials
was 27a.
Upon report - the committee on Dernna-
nent organization c. stuart Patterson -
f'snnsF lVania vas elected permanent
chairman ana Evans We7Iea. q In4ianar-
OTIS, permanent secretary II wes afso
rffso n1rnentes that \ Vice presEden. ba
CHOSEN Tor each state represented.
The Chsfrman's address
Q Stusrs Patterson. % PhftsEafn-t.
permanent chairman cf the convenS3n.
e. osed the afteeuoon session with an a.
dress tse vas frequently apPlaugt8 NJ
i'@tta-son sa<3.
u thank vru Tor ths r1n~r v1r ss --,e
.n taNtt.aS cse tJ preside over wear d.ta-
er2tcos- 4oe srs bustuess men. Yog-
t~titrs acre proves Ngor ae-eersr-a ~
Ha -F1e erlHt,-on ~ tGat tenn. Here 20
les at# q s'f#eRrt atlFfs af agriculture. OF
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