The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1898-02-02
A MONETARY CONVENTION.
Advocates of Gold Standard Gather
Mt Indian polls.

indianapolis, Ind. Jan. 90. = Four
hundred delegates were present at the
Grand Opera house Tuesday when
| Chairman Hanna, of the executive COM
| mittee. called the monetary convention
| 10 order. This was an increase of 100
over the number of delegates that at
tended the first Indianapolis conven-
| ton of year ago, and it was regarded
| as indicative of the interest which the
business men feel in the movement for
reform of the currency laws.
Two governors-Gov. Mount, of In
diana, and Gov. Shaw, of Iowa-were
the speakers at the afternoon session.
Gov. Mount delivered the speech of well
come and Gov. Shaw spoke for more
than an hour on the gold standard and
the retirement of the greenbaclls.
indianapolis, Ind, Jan. 27.-It was
not expected that the monetary con-
vention would remain in session more
than two days and this expectation was
realized. It settled down to work
promptly at ten o'clock Wednesday
morning and adjourned at two o'clock
subject to the call of the chairman, Mr.
Hugh Hanna.
E. J. Parker, of Illinois, presented a
resolution approving the efforts of the
National Business league to forward a
movement to the establishment of a
national department of commerce and
industries, the head of which shall be a
member of the cabinet.
Mr.. Wheelock. of Minnesota. chair
man of the committee on resolutions,
asked John C. Bullitt. of Philadelphia
TO read the resolutions. The resolutions
recognize the conventions obligations
to the executive committee, and cor
daily approve the plan of currency re-
forms submitted by the commission.
which is set out as follows:
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 ma
| tons of the world.
SO. To eliminate from our currency sys-
| tenn those features which reason and ex-
| perience show to be elements of weakness
! and danger.
~ To provide a paper currency con-
vertible into gold and equal to ii in value at
| all times and places, in which, with vol
| ume adequate to the general and usual
| needs of business, there shall be combined
| quality Of growth and elasticity through
which 1t will adjust itself automatically
! and promptly to all variations of demand,
whether sudden or gradual and which
| shall distribute itself throughout the coun-
| try as the wants of different sections may
| require.
!"5. To so utilize the existing silver dollars
| as TO maintain their parity with gold with
out imposing undue burdens upon the treas
| ury.
sc. To avoid any injurious contraction of
| the currency.
''7. To avoid the issue of interest-bearing
| bonds, except in case of unlooked-for
| emergency; but to confer the power TO
| issue bonds when necessary for the preser-
| walton of the credit of the government.
49, To accomplish these ends by plan
| which would lead from our present con-
| fused and uncertain situation by gradual
| and progressive steps, without shock or
1 violent change, to monetary system
| which will be thoroughly safe and good, and
| capable of growth TO any extent that the
country may require.
| Approving Of the expressed purposes Of
| the commission and of its plan, we do most
| earnestly and cordially commend it to our
| fellow citizens as worthy Of their approx
| al and adoption, and we urge upon the
| congress of the United States that the prin-
| ciples embodied by the commission in their
| report should be enacted into law, with
! the belief and expectation that the effect
would be to secure solid, substantial
| and stable financial system that would re-
| dound to the credit Of the country and Sc
| achieved unless there is a system of finance
| the integrity and adaptability of which can
| not be questioned or gainsaid.
The time has now come when the pros
| poets for the establishment of the gold
| standard upon a firm and enduring basis
| are Frightening and encouraging. The peo-
pie want a note currency which shall be as
| good as gold. This movement proposes to
| bring about that result. The people want
| volume of currency adequate to the gen.
eral and usual needs of business, with a
| quality of growth and elasticity through
| which it Will adjust itself automatically
| and promptly to all variations of demand,
| whether sudden or gradual. The people Of
| the western and southern states wish the
Tissues so distributed that the scarcity Of
| currency will no longer hamper and dis
| tress them in their business operations. a
| method is proposed whereby their wants
can be supplied and their demands can be
| complied with.
I'VE appeal to them--we appeal to all pa
| triotic citiZenS-to unite with us in an
| earnest and determined effort to secure
| from congress such legislation as Will wise
/ ly but surely eventuate in bringing about
/ sound financial methods, and in building up
and establishing confidence, security and
/ safety in business transactions and in the
ownership and value of property"
A number of short speeches were
made with reference to the resolutions.
J Among the speakers were Gen. Simon
1 Buckner, of Kentucky, who was a can
didate for vice president on the ticket
with Gen. Palmer, of Illinois; John
II. Rhoades, of New York; William E.
| Dodge, of New York; eX-Gov. O. v.
Coffin, of Connecticut. and Judge Craw-
| ford, of Texas.
A Costly Blaze.
| St. Louis, Jan. 26.-The Union Ele-