The age-herald., 1898-01-27
GOLDBUG WHEELS CEASE TO REVOLVE Monetary Conference Anchors On Cam miSSiOner'S Report and AdjOurnS. EACH WINDBAG PIERCED Sails Unre0fed and Tapped in the Zephyr
 Freezes Two Hours. EVERY GOLDBUG HAD HIS BUZZ When the Crew Settled on the Bark of Financial Hope and Decided to Seek Additional
 Sailors for the Voyage
 of 1900.
VERY GOLDBUG HAD HIS BUZZ

Indianapolis, Jan. 26.-The monetary con- vention convened at 10 o'clock today, and at the conclusion of MT. Fairchild's ad- dress a motion was made and carried that when the convention adjourn it be subject to the call of the executive com mittee. Permanent Chairman Shaw here declared "this convention never adjourns," " and MT. Stannard, of Missouri, took the gavel to preside.
 The next speaker was Congressman Jesse Overstreet, of the Indianapolis dis trict, who introduced the monetary bill into congress. MT. Overstreet commend ed the commissions work.
 MT. Wheeler, of Minnesota, chairman of the committee on resolutions, asked John c. Built, of Philadelphia, to read the res olutions. The resolutions recognize the convention's obligations to the executive committee and cordially approve the plan of currency reform submitted by the com mission, which is set out as follows:
 Articles of Currency Reform.
 l. 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 na- tions of the world.
 3. To eliminate from our currency sys- tenn those features which reason and ex- perience show to be elements of weakness and danger.
 4. To provide paper currency converti- ble into gold and equal to it 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 elacticity through which it may 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 without imposing undue burdens on the treasury.
 To Avoid Contraction,
 G. To avoid any injurious contraction of the currency.
 7 To avoid the issue of interest-bearing bonds, except in case of unlocked for emergency; but to confer the power to issue bonds when necessary for the preser- vation of the credit of the government.
 S. To accomplish these ends by a plan which would lead from our present con fused and uncertain situation by gradual and. progressive steps, without shock or violent change, to a 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 a-flxr IA to our fellow citizens as worthy of their approval and adoption, and we urge upon the congress of the United States that the principles embodied by the commission in their report should be enacted Into jaw, with the belief and expectations that the effect would be to secure a solid, substan- tial and stable financial system that would rebound to. the credit of the country and insure a state of prosperity that cannot be achieved unless there is system of finance, the integrity and adaptability of which cannot be questioned or gainsaid.
 Prospects Frightening.
 The time has now come when the pros- poets for the establishment of the gold standard upon firm and enduring basis are brightening and encouraging. The people want a note currency which shall be as good as gold. This movement pro- poses to bring about that result.
 The people want ''volume of currency adequate to the general 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 issues so distributed as that scarcity of currency will no longer hamper and distress them in their business operations. A method is proposed whereby their wants can be supplied and their de- mands can be complied with.
 We appeal to them-we appeal to all patriotic citizens to unite with us in an earnest and determined effort to secure from congress such legislation as will wisely but surely eventuate in bringing about sound financial methods and in build ing up and establishing confidence, secur- ity and safety in business transactions and in the ownership and value of property.
 Gwen Full sway.
 That the executive committee be con- tinued, with the power and authority to add to their number and to fill any va cancies which may occur, and also with power and authority to adopt such meas ures for procuring the needed Legislation from congress as they, in their judgment, may deem advisable and expedient.
 MT. Bullitt spoke at length in favor of the resolutions, and as gold democrat urged concentrated effort looking to cur rency reform without regard to party ties. The resolutions were discussed in fve- minute speeches
 At 2 o'clock, after two hours of favor- able debate, the resolutions were unani- mously adopted.
 The convention adjourned, subject to the call of the executive committee.