The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-01-13
FOR SOUND MONEY
Indianapolis Propositions
All Favor the Single
Cold Standard.
WANT GREENBAcKs RETIRED
Paper Money Below Five Dollars
Frouned On Waiting for
the Committees.
w ANT GREENBACKs RETIRED

ming its second days work. The knowl-
edge that nothing could be accomplished
| until the Committee on Resolutions had
digested the numerous propositions offer
ed, no doubt led the delegates to take
their time before leaving the comfortable
hotels to walk through a heavy fall of
snow to the convention hail. The Com
mittee on Resolutions got together at
nine o'clock at the Denison and began
their arduous task of considering the
nineteen propositions which were offered
at last nights session Mr.. H H. Hanna
was elected chairman of the committee.
Many of the propositions contained SINH
lar features. which in measure simpli-
fled the work of the committee Nearly
all the suggested plans contain endorse
ments of the gold standard, denuncia-
ton of fat money, proposal that the
greenbacks be retired, and that national
banks be permitted to issue notes to the
full amount of bonds held
The final declaration of this convention
may, therefore, be assumed to contain all
of these propositions. It is also practi-
caily agreed that commission shall be
appointed to carry into effect, if posi-
bic, the wishes of the convention
AAC4 Z ii<A0 bSS1i ItO SQSSGSl ltO4S SO lslE
favoring biTnetallisnl, but several PROPOSE
tons contain suggestion that paper
money below the denominations of s. or
$40 be retired in order that silver and
gold may have an increased use in the
circulating medium.
From 10 to 1880 o'clock today the hand
in the gallery had full swing and such
Of the delegates as had arrived gathered
IN Knots on the floor and discussed the
d6lrerent schemes that had been brought
At 1890 the convention was called to
order by Chairman Patterson. The Sec
city Board Of Trade. amid Iol applause @ sco1s con
cerping. the objects of the convention and
expressing its intention of standing by
II r. ~ me hght for honest money and the
F, 4. Madgeburg, of Milwaukee pre-
sented series Of resolutions represent
Ing the views of the business men Of that
SECTION. 1t demanded legislation for the
refunding of Government demand notes
IN long time bonds with compensating
e. G. Stanard of St Louis, sent up
psan formulated by W. C. Little mer-
chant OF that city, the n1adn features of
which were similar to the demands made
in the Milwaukee resolutions. II con-
tanned a. provision for the rede,mptcn of
silver certificates at the rate of 60 per
cent IN gold and 40 per cent. in silver, the
"a tier TO be cancelled upon redemption
Elbsrts K. Perry, of Gtaaesburg. In. Of
fered a resolution declaring It to be the
sense OF the convention that the currency
ana banking avs should be so amended as
to seolre, first, an elastic currency; sec
ono, safety without a bend issue; third
the security of depesitors; fourth, pro
tsetien Of stockholders against dishonest
crtclajS; fifth, the retirement OF paper
currency; sixth. a non-partisan finance
commission TO suggest to Congress desir-
able changes as the necessity for them
develops.
The secretary read fthe titles of large
number of schedules of revision and re-
lief which had been forwarded to the
ss Executive . COMMITTEE by their authors,
and they We're all referred to the Com
mittee on Resolutions.
Bimetallism and the Universal Stand
ard, by an American, evoked an audible
smile.
President Patterson announced a report
from that committee at about noon.
Charles e. Adams. President of the
Massachusetts State Board of Trade, Of
ganization by States of business men, in
order to expedite the gathering of similar
conventions in the future.
In view Of the Presidents announce
ment respecting the probability of an
early report from the Committee on Reso-
lutfcns, on motion Of Mr.. Ballinger, of
Keeknk. Iowa, It was DECIDED that all
papers, resolutions, etc., still in the hands
of delegates be presented without reading
and at once sent to the committee under
this rule The committees work was in
>.
lingsr Of Iowa, Bell of Missouri Coy of
Iowa, Kelsey OF Indiana, and Uniston of
Minnesota
E. c. Camp, Of Knoxville Tenn, sug-
gested that we pay cur debts as a govern
ment as we would as individuals. He ad-
vocated tariff law sufficient to yield a
revenue of $3.50, o0oo. and the gradual re-
tirenept of the greenbacks and other gov
ernnlert Indebtedness at the rate of at
least s100 900 per year.
Mr.. Cobb, OF Massachusetts, ON behalf
of his delegation, said they were so we'll
pleased with Governor Stanard's opening
address THAT they desired to commend 1t
to the Committee on Resolutions for its
consideration In preparing its declaration
of principles.
Governor Stanard asked that The motion
be withdrawn in reference to him, bur
Mr.. Cobb stated his desired it presented
as representing the sentiments of his
delgation It was so ordered.
The meeting, on motion by Mr.. Chad
wick. Of Brooklyn, was then thrown open
being limited to five minutes.
made for Chadwick
morously protested Mr.. Tucker, of Phil
adelphia, who had previously moved for ]
a recess awaiting the report Of the. Com
on my motion.
Mr. Chadwick gave the history of the
saed by the he eoga9ns gs ms
stance being that of the Legislature of
MASSACHUSETTS, in 1890, which ordered bills
of credit issued to pay its soldiers who
had been campaigning in Canada. aThis
was the beginning Of all our troubles =
he said.
Mr.. Chadwick was cut off by the op-
GRAFTON Of the five minute rule and a mo-
ton to extend his time was voted down
to the great amusement of the delegates.
Representative c. N. Fowler, of New
Jersey, a member of the House Commit
tee on Banking and Currency, was asked
to speak, but it required a division of the
House to pass a motion to suspend the
operation of the five minute rule in his
favor.
The Committee on Resolutions held a
session last night extending far past
midnight and resumed their sessions ear
iy this morning. 5As stated last night
the principal controversy in the commit
tee is as to form, authority ana scope Of
the monetary convention to be recon-
mended. It was stated this morning
Chairman Hanna's plan for an advisory,
unofficial convention, which shall report
its conclusions to q future meeting of
the convention. There will be, il IS un~
derstood, at least two reports and prob
ably more.
Mr. Fowlers mention of the name of
President Cleveland, asserting that his
thec3aration that the last resource of the
Government should be exhausted in the
alone stayed the fiocd hurry ng the coun-
try on to a deprecated standard evoked
the first real bunst of enthusiasm the con-
vention experienced. 1t was followed by
equally expressive oltbursts when he re-
ferred to the action of the Re-
publican convention in asserting that
the gold standard must be MAIN