The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-13

Business.
indianapolis, Ind, Jan. 12.-The ma
tional monetary conference called al
board of trade and composed of rep
resentatives of similar organizations
from all parts of the country, assem-
bled in Tomlin's Hall this afternoon.
The arrangement of the hall was in
general similar to that of the national
Democratic convention held in the
same place last September. The deco
rations were much more modest, how
ever, consisting of the national col
ors. draped over the platform.
There was a sprinkling of specta-
tors in the galleries, and the hour pre-
ceding the beginning of business was
enlivened by music.
The convention was called to order
at 2:S5 o'clock by Hugh H. Hanna,
| chairman of the executive committee,
mentS for the convention were made,
and who originated the movement cul-
minating in the meeting today.
He introduced Rev. NJ. L. Haines,
pastor of the First Presbyterian church
who opened the proceedings with
prayer He asked that the result OF the
/ conference might be even greater and
more far-reaching than the projectors
ever dared hope for, and that the coun-
! try might be prosperous in the future
as it never had been in the past.
In the name of the executive COM
mittee, Mr.. Hanna extended a cordial
welcome to the delegates. They under
/ stood and appreciated the sacrifice
| made by business men in coming to
| the convention at this period of the
year.
Mr.. ]. w. Smith, aecretary of the
I indianapolis board of works read the
call under which the convention as
sembled.
WAS GREAT APPLAUSE.
| The emphatic terms of the call. de-
/ claring it to be the sentiments of the
/ business men of the country that they
should take part in shaping the finan-
/ cial legislation of the country and that
they would never agree to any PROPOSE
ton which would degrade the present
standard of values were received with
applause.
Mr Hanna presented the report of
the executive committee. Pursuant to
the resolutions of instruction adopted
at a preliminary conference, Dec. /. il
said, the committee has sent out inVi-
tations to the boards Of trade. CONNER
cial clubs and such like organizations
of all the cities of the United States Of
population of 5000 ana ,greater, ac-
cording to the last census. requiring
these to send delegates to this cOnVen-
tion. There are assembled here 300
delegates. representing business or
ganizations of cities in nearly every
state in the Union.
The committee recommended for the
temporary organization. a committee
on credentials, on permanent orSaniZa-
ton, on rules and order of business,
each consisting of Is members; that
all resolutions concerning the currency
and banking systems and mode of pro-
cedure shall be referred without de-
bate to the committee on resolutions,
to be appointed by the permanent
chairman: that each delegate present
shall be entitled to one vote. For
temporary chairman the executive
committee recommended L. O. Stanard,
of St Louis; for temporary secretary.
Jacob w. Smith, of Indianapolis; and
for eTgeant-at-armS, w. z. Z. Colt, of
Indianapolis.
The report was adopted without op-
position, and Mr.. Hanna appointed Will
liam E. Dodge of New York and =. L.
Crawford OF Texas a committee 10 es-
cort Governor Stanard to the platform.
Governor Stanard'S recommendations
that 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 S5 or $40 should be cir
culated in the interest OF more gen
eral use Of silver, met the general aD-
proval of the delegates.
COMMITTEES NAMED.
The committees provided for in the
report OF the executive committee were
then appointed.
The committee Immediately retired
for business, and while they were gone
eX-Secretary c. S. Fairchiid Of New
York was introduced and addressed the
convention
Mr.. J. P. Irish of California followed
Mr. Irish said:
"Adinonished by trying experience,
past ard current, for the first time in
the history of this nation, the business
men of the republic have met today to
take up arms against a sea OF troubles
and by opposing, end them.
Let no man minimize either the
perils or the difficulties OF the situa-
ton.
Hope is no longer q force that can
sustain the business interests of this
republic. Our financial scheme is a
scheme that has been Derlllted 10
grow through a series of patchwork
expedients with it's radius in the far
gone emergencies OF the civil war,
when, il l were to describe it in the
terms of surgery, l would say that our
financial plan in this republic is a
compound, cominuted fracture
with a fostering of continuity from |
marrow out 10 skin. (Applause and
laughter.) Your duty. my friends, is
the suggestion to the law-making /
power of this republic, this republic Z
which will not be long a nation worthy /
of the loyalty of its citizens. which viii /
not much longer enjoy under its laws 1
that prosperity and happiness which /
are the birthright of men, unless these /
conditions are changed. 1t is your /
business TO suggest to the lawmakers !,
the Strengthening out of the angulari- |
ties of our financial system. to put sim
plicity in the place of complexity-to |
conform that system to the natural |
laws of finance.
I believe. as the ex-secretary of the
treasury, wise in finance and profound |
and thorough in his experience be-