The Chipley banner. (Chipley, Washington County, Fla.) 1893-1943, 1898-02-05
MONETARY MEN ADJOURN.
THE EXPERTS DID THEIR WORK
EXPEDITIOUsLY.
THE RESOLUTIONS FORMULATED.
They Cordially Approve Plan Of Currency
Reform as Submitted BY the
Committee.

1t was not expected that the monetary
convention would remain in session
more than two days, and this expecta-
ton was realized. 1t settled down to
work promptly at 10 o'clock Wednes-
day morning and adjourned at
o'clock, subject to the call Of the
chairman.
1t was q convention that was nota.
BILE for the prominence of its delegates
in business circles and for the large
number who, at the sacrifice Of their
private interests, made the long jour
ney to Indianapolis to emphasize by
their presence their strong sympathy
with the movement for currency re-
form.
The resolutions recognize the con-
vention's obligations to the executive
committee and cordially approve the
plan of currency reform submitted by
the committee, which is set out as fol-
lows:
81. To remove at once and forever
all doubt as to what the standard Of
value in the United States is and is to
be
."2. To establish the credit of the
United States at the highest point
among the nations of the world.
IS. To eliminate from our currency
system those features which reason
and experience show to be elements of
weakness and danger.
~. To provide q paper currency
convertible into gold and equal to it
in value at all times and places, in
which with a volume adequate to the
general and usual needs Of business,
there shall be combined quality of
growth and elasticity, through which
it will adjust automaticall and prompt
ly to all variations of demand, whether
sudden or gradual, aud which shall
distribute itself throughout the coun-
try as the wants of different sections
may require.
IS. To 80 utilize the existing silver
dollars as to maintain their parity with
gold without imposing undue burdens
on the treasury.
SO. To avoid any injurious contrac-
ton of the currency.
az. To avoid the issue of interest
bearing bonds, except in case of un-
looked-for emergency; but to confer
the power to issue bonds when neces-
sary for the preservation of the credit
of the government.
"8. To accomplish these ends by
plan which would lead from our pres
ent confused and uncertain situation
by gradual and progressive steps, with
out shock or violent change, to q mon
etary system which will be thoroughly
safe and good, and capable Of growth
to any extent that the country may re-
quire.
Approving of the expressed pur-
poses Of the commission, and of its
plans, we do most earnestly and cor
daily commend it to our fellow citi-
zens as worthy of their approval and
adoption, and we urge upon the con-
gress of the United States that the
principles embodied by the commits
sion in their report should be enacted
into law with the belief and expecta-
tion that the effect would be to secure
q solid, substantial and stable financial
system that would rebound to the
credit of the country and insure state
of prosperity that cannot be achieved
unless there is system Of finance, the
integrity and adaptability of which
cannot be questioned or gainsaid.
"The people want volume OF
currency adequate to the general and
usual needs of business, with quail |
ity of growth and elasticity through |
which it will adjust itself automatic
ally and promptly to all variations Of
demand, whether sudden or gradual.
1.-THE time has now come when the
for the establishment Of the
gold standard upon firm and endur-
ing basis are Frightening and encour-
aging The people want o note cur
rency which shall be as good as gold.
This movement proposes to bring
about that result.
"The people OF the western and
southern states wish the issues so
as that scarcity of cur
.ency will no longer hamper and
distress them in their business OPP
,rations. A method is proposed where
,y their wants can be supplied and
heir demands can be complied with.
eve appeal to them-we appeal to I
III patriotic citizens to unite with us {
n ON earnest and determined effort to I I
ecure from congress such legislation 2
IS will wisely but surely eventuate in
ringing about sound financial meth. G
Ids, and in building up and establish l
ng confidence, security and safety in 9
business transactions and in the own
rship and value Of property.
THAT the executive committee be n
with power aud authority 9
o add to their number and to fill any o
which NAV occur" Il