The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-26
WEN MEET TO TALK OF MONEY.
v,poIIs CONVENTION OPENS
WITH 400 DELEGATES.


,be Business Element in the
,-...,eucy Reform MOvement-GOV.
,,,,,ut of Indiana and Gov. Shaw
,o,va the Speakers of the At
mann SessiOn-GOv. Bucl1ner
o,e of the Delegates.
--,.,nanoIis. Ind, Jan. 25.-Four hum
4.larates were present at the Grand
0r.r, House to-day when Chairman ID.
=, tIanra of the executive committee
- the monetary convention TO order.
-. r.,s an increase of 100 over the num-
- If delegates that attended the first
1z4i,rapolis convention of a year ago. and
. mos bearded as indicative of the inter-
which the business men feel in the
.-,.s,nent for a reform of the currency
laws.
The hall presented the appearance of
national convention of one of the two
rr5at poltical parties, the various dele
T,.e. being Indicated by standards bear
inc tbe names of their.various states. The
,,ri,.ate boxes were filled with handsome
" dressed ladies, representing the wealth
and culture of Indianapolis, and the hall
,-as tastefully decorated with the national
colors.
Two Governors-Gov. Mount of Indiana
and GOV. Shaw of Iowa--were the speakers
of the afternoon session. Gov. Mount de
liyered the speech of welcome, and Gov.
Shaw spoke for more than an hour on the
cold standard, and the redemption of the
pre.nbacks. His homely' and forcible COM
harrison of our financial system with the
gradual growth of high house, with
matched roof, which ought to be replaced
in our more advanced condition by a new
structure on firm foundations and of har-
ronious architecture, caught the audience
with great effect, and brought forth round
after round of applause. He spoke to an
audience of substantial business men who
thoroughly appreciated his argument for
an elastic currency based upon CONNER
cial assets. The delegates, S Gov. Shaw
suggested, did not include many bankers,
but included many men of large affairs
and some of national prominence.
Among those who arrived just before
the convention met this afternoon was ST.
mon B. Buckner, the gold Democratic
candidate for Vice President two years
ago.
Iowa We'd with Indiana for the honor of
the largest delegation on the floor and
they made an impressive appearance when
they rose en- masse to cheer Gov. Shaw.
There were about sixty in the Iowa dele
CATION and there were also strong delega.
tons from Wisconsin, Michigan, Illinois
and Ohio New York was represented
altogether by a score of its most promi-
nent business men and many dispatches
came from Boards of Trade in New York
and New Jersey which were not able to
send delegates, promising their cordial
support.
Delegations were also present from
Connecticut, Virginia, North Carolina,
Arkansas, Georgia, Tennessee, Kentucky,
Missouri and Maryland.
1t was o'clock when Mr. Hanna called
the convention to order. He introduced
the Rev. NJ l.. Haines of this city, who
offered brief prayer, at the conclusion
Of which Mr.. Hanna arose to introduce
Gov. Mount of Indiana, who was to de-
liver the address of welcome AS Mr..
Hanna stepped forward to the front of
the platform he was greeted by a burst
Of applause which continued for a fun
minute, and which ceased only when it
was obvious that the recipient was en-
barrassed by this cordial tribute to his
personal popularity.
Gov Mount spoke briefly. His speech
was appropriate to the occasion, and was
an earnest plea for the maintenance Of
the gold standard. He showed that Thorn
as Jefferson the founder of the Demo-
cratic party, held stoutly to the belief
that the legal ratio of coinage should con-
form TO the mercantile ratio of the metals
and he queried in this connection how this
attitude would compare with modern Bry-
anlsm, which insists upon is to l as the
legal ratio, while the commercial ratio
Is % to l. He quoted former Secretary of
the Treasury John c. Carlisle as main
tanning that there was not a free coinage
country in the world to-day that is not
on silver basis; that there
Is not a silver standard country
IN the world to-day that uses any gold as
money along with silver; that there is not
d gold standard country in the world to-
DAY that does not use both gold and sill
Yer. and that there is not a silver stan
uafd country to-day that has more than
ohe-third as much money in circulation
per capita as the United States He pic
tured the disastrous results which would
follow from the free coinage of silver in
inns country, and asserted that capital
would seek investment in this country
Only when assured of the soundness of our
money system
At the conclusion of Gov. Mounts adj
9ress, Chairman Hanna presented Gov.
ohaW of Iowa to the convention as it's
permanent chairman.
.,r GOV Shaw spoke, in part, as follows:
we must have paper currency. believe
Tue country at large, without regard to
party, agrees to this proposition. We
must nave paper currency, and of suffi-
cent volume for the needs of great and
prosperous people, with many and varied
interests. Those who believes in the prin-
Clp.e Endorsed at the polls in 1896, together
WIN those who accept the verdict then
rendered as of binding force, agree that
every dollar o, paper currency must be re-
UtemaDle, directly or indirectly, exchange
a"ie or convertible a part for gold. The
'aiue Of every dollar of the United States
money whether of coin or paper currency,
must be the equivalent of 25.S grains of
standard gold, The gold coin must be the
u"ueh stone, the test, and the measure of
ya.ue of every dollar, by whomsoever is
sued or however expressed. This paper
currency the value if which must be CO.
extensive with the needs of the country,
SHOULD all be issued by the government or
py the banks. The time has passed by
Nhen the government shauld issue part
% the paper currency (other than coin
c.ftihcates) and the banks a part
Opon the conclusion OF GOV. Shaw, Chair
man Hanna requested the state delegations
20 select vice presidents and members of
he committee on resolutions to be pre-
serted to the evening session.
ne convention then adjourned to 7
lock- when addresses were delivered to
large audience by Hon. c. Stuart Pat
ttISOn of PhiladelDhta and Col Jacob l.,