The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1897-01-20
MONETARY CONFERENCE.
Convention at Indianapolis De-
clares for Gold.
a Two Days Session of Representatives Of
Commercial Bodies Results in the In
dorsement OF a. Plan Looking to
to a Change In the Currency
System OF the Nation.

suggestion of the Indianapolis board
of trade and composed of representa-
tives of similar organizations from all
parts of the country, assembled in
Tomlinson hall Tuesday afternoon.
The convention was called to order by
Hugh Ii. Hanna, chairman of the ex-
ecutive committee under whose man
agement the arrangements for the con-
vention were made, and who originated
the movement. He introduced Rev. M.
L. Haines, who opened the proceedings
with prayer.
MIR. Hanna presented the report of
the executive committee 1t said the
committee had sent out invitations to
the boards of trade, commercial clubs
and such like organizations of all the
cities of the United States of popula-
tion of 5000 and greater, requesting
these to send delegates to this conven-
tion. There are assembled here 800
delegates representing business organ
izations in cities of the northern and
eastern states. The committee recon-
mended for the temporary organization
committee on credentials, on perma-
nent organization, on rules and order
of business, each consisting of Is mem
bers, and that all resolutions concern
ing the currency and banking systems
and mode of procedure be referred
without debate to the committee on
resolutions, to be appointed by the per-
manent chairman. Three sessions
day were also provided for.
For temporary chairman the execu-
tive committee recommended L. o.
Stanard, of st. Louis; for temporary
secretary, Jacob w. Smith, of Indian
Gpolis, and for sergeant-at-arms, w. F.
Colt, of Indianapolis.
The report was adopted and Mr..
Hanna appointed committee to escort
ex-Gov. Stanard to the platform. Upon
taking the chair Mr.. Stanard made
speech. His recommendations that the
greenbacks should be retired; that ma
tional banks should be permitted to
issue notes up to the par value of
bonds deposited to secure their pay
ment; that nopaper notes of less than
IS or $40 should be circulated, in the
interest of more general use of silver,
met the approval of the delegates.
The committee on rules and order of
business presented its report, the chief
features of which were the provisions
for restricting debate, making the ex-
treme limit for speeches half an hour
and confning most of them to five and
ten minutes each. 1t was adopted.
The committee on permanent organi-
zation recommended G. Stuart Patter-
son, of Pennsylvania, for president and
vice president from each state repre-
sented. Evans Woolen, of Indianapo-
lis, was named for permanent secre-
tary. Mr.. Patterson was escorted to
the platform and addressed the conven-
tion.
Hon. j. H. Walker, of Massachusetts,
chairman of the house committee on
banking and currency in the present
congress, was invited to address the
convention, which he consented to do
At the conclusion of his remarks the
convention took recess until p. m.
At the evening session nearly score
of resolutions bearing on the financial
problem were introduced and referred
to the committee on resolutions. Sew
eral speeches were made, and the con-
vention adjourned until Wednesday,
INDIANAPOLIS, Jan. 14.-The national
monetary conference which has been
in session here two days, on Wednes-
day afternoon adopted a declaration of
what Legislation in its opinion is needed
upon the subject, by q practically
unanimous vote. This declaration in
cluded demand for the maintenance
of the gold standard and the retire
ment of the demand obligations of the
government. Accompanying this was
proposition for the appointment of
commission to investigate and report
by bill or otherwise upon the evils and
remedies of the currency system. This
was the unanimous conclusion of the
committee on resolutions, result that
was unexpected by the delegates, and
The recommendation of the commit
tee were affirmed by the substantially
unanimous vote of the convention.
This was not secured, how ever, with
out much opposition and an exceed
ingly animated debate, with short con-
troversies between Congressman Fowl
er, of New Jersey; State Assemblyman
Roots, Of Indiana; Congressman Walk
er, OF Massachusetts, and John Harsen
Rhoads. of New York. The feature of
the morning session was speech by
Congressman Fowler in which he out
lined the causes of the present financial
Ills and the remedy therefor Follow
ing are the resolutions adopted by the
convention:
This convention declares that II has become
absolutely necessary that a consistent, straight
forward and deliberately planned monetary
system shall be inaugurated, the fundamental
basis OF which should be:
First--That the present gold standard should
be maintained
Secoud-That steps should be taken to insure
the ultimate retirement OF all classes OF United
States notes by gradual and steady process,
and SO as TO avoid injurious contraction Of the
currency or disturbance OF the business inter-
ests OF the country, and that until such re-
tiroment provision should be made for sep
aration Of the revenue and note issue depart
ments OF the treasury 49,
Third-That banking system be provided
which should furnish credit facilities TO every
portion OF the country ana a safe and elastic
rirculation, and especially with view of Sc
curing such distribution OF the loanable cap
Ital OF the country as will tend to equalize the
rates Of interest in all parts thereof For the
purpose OF effectively promoting the above
objects:
Resolved, That IS members OF this conVen-
tlon be appointed by the chairman to act as an
executive committee while this convention is
not IN session. with full powers OF this conven-
tion. The executive committee shall have the
power to increase its membership TO any NUM-
ber not exceeding 45. and fiye members thereof
shall al oil times constitute quorum Of said