The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1897-01-14


dent Glevelands Name Received With
AunIause-Some of the Plans Proposed.
Jpdienanolis. Ind, January l5.-The
,,,o,atsrv conference WAS late in begin
ming its second days work. The COM
mittee on resolutions got together at y
and hogan their arduous task of consid-
ering the numerous propositions whlch
were offered at last nights session. ii.
II. Hanna was elected chairman OF the
committee. Many of the propositions
contained similar features which, in
measure, simplifed the work OF the
committee, Nearly all the suggested
plans contain endorsements OF the gold
standard, denunciation Of hat money
and proposals that the greenbaok pe
withdrawn and that national banks be
permitted to issue notes to the Inll
amount of the bonds beld.
1t its practically agreed that COM
mission will be appointed to carry into
effect. if Dos Bile, the wishes OF the con-
yention. There had been no sugg est1ons
so far. favorlng binietalisln, but several
propositions contained a suggestion that
paper money below the denomination
IS or $40 De rAtred, in order that silver
and goli might have an increasd use
in the circulating medium.
At 109 80 the convention was calico TO
order by Chairman Patterson.
Il. ii. Madgeburg of Milwaukee, pre-
sented a series of resolutions represent
ING the views of the business men OF
that section. 1t demanded legislation for
the refunding of the government m ma
notes, IL long time bonds with com
pensating issue OF national bank notes.
e. o. Stannard of ST. Louis sent up
nlan. the main features of which were
similar to tbs demands made in the
Milwaukee resolutions. 1t contained %
provision for the redemption of silver
certificates at the rate of 90 per cent in
gold and 10 per cent in silver, the latter
to be cancelled upon REDEEM pt1on.
EIbert K. Perry of Galesburg, llls.,
offered resolution declaring it the sense
of the convention that the currency
and banking laws should be SO amend
cd as to secure an elastic currency, saiety
without bond issue. security OF deposl-
tors. protection Of oknolders against
dishonest officials, retirement Of paper
currency, partisan finance commls
sion to suggest to Congress desirable
changes as the necessity for. them
develop.
Charles f. Adams, president OF the
Massachusetts state board of trade, OIL
cred resolution recommending the OF
ganization.by states OF the business men.
In order to expedite the gathering OF
similar conventions in the future.
Representative 9. N. Fowler of New
Jersey, mem ber of the house committee
on banking and currency, spoke His
mention of the name of Cleveland, assert
ing that his declarations that the last re-
source Of the government should be ex-
hansted in the effort to sustain the credit
of the nation, alone stayed the flood
hurrying the country ON to deprecated
standard, evoked the first real burst of
enthusiasm the convention experienced.
1t was followed by equally expressive
out bursts when he referred to the act
ion Of the Republican convention in
asserting that the gold standard must
be main tanned and that the Democratic
party contained large element of pa
triots who declined to follow the lead of
their leaders aad voted for Mckinley.
mittee ON resolutions, presented the re-
port of the committee. The report WAS
the unanimous expression of the COM
mittee He asked like support from the
convention and moved the adoption OF
the report The report was as follows:
First-The present gold standard
should be maiEtained.
Second-Steps should be taken to in
sure the ultimate retirement of all
classes of United States notes by grad
ual and steady process and that in such
retirement provisions should be made
for the separation of the revenue and
note issue departments of the treasury.
. Third-A banking system should be
provided which should furnish credit ia
oilities 20 every portion Of the country
and safe and elastic circulation espec-
tally with view OF securing such d1stri-
button of the loanable capital Of the
country as will tend to equalize the rates
of interest In all parts thereof Boz
the purpose of effectively promoting the
above objects,
Resolved, That Is members of this con-
ference be appointed by chairman TO
act as an executive com mmittee while this
convention is not in session with full
power of this convention. The execC-
tive committee shall nave power 10
crease its mem bership to any num- Der
thereof shall at all times constitute a
quorum. The executive committee
shall have special charge of the report
and disbursements Of contributions and
shall have power to call this convention
together again when and where it may
seem best.
1. Resolved, That 1T shall be the duty OF
this committee to endeavor to secure at
the special session of Congress which 1t
is understood will be called in March
next, legislation calling for the appoint
ment of monetary commission by the
President to consider; the entire question
and report to Congress at the earliest
dag possible, or failing to secure the
above legislation they are hereby
authorized and empowered to select
commission Of eleven members according
to the rules and plans set forth in the re-
port submitted to the convention by
Hsnua of indianapolis. The com mission
is to make Il thorough investigation of
the monetary affairs and needs. OF this
country and to make appropriate sug-
gestions as to any evils found to exist
and remedies therefor. The committee S
report was adopted by practically unan-