Daily Kennebec journal., 1898-01-27
THE MONETARY CONFERENCE.
Long Set Of Resolutions Adopted Speeches
by Eminent Finsnciers.

bodies OF the country, endorsing tht
plan of the commission. +. j. Parker
of Illinois, presented a resolution ap-
proving the efforts of the National
Business Mems League. to forward 4
movement to the tablishment of i
national department of commerce an !
industries. the head of which shall be
member of the cabinet. Charles 5.
Fairchild. eX-secretary of the treasury
delivered an address in which he said
in part:
Men III the past have had standards
OF value and mediums of exchange, or
currency or circul2tin mediums OF
whatever name you may give them
With no laws save the customs If hasi-
ness; these they can ha.e in the fu-
ture without statutes and they Will
have them in spite of statutes if stat
utes stand in the way of the irresist-
able force of the concurring habits OF
men.
An act OF civilization is that mei
measure value by gold and whatever
the standard named in law men VIII
continue to measure value hy gold un-
til. by the concurrence of theIr haDlts
they evolve something that suits their
purposes better.
At the conclusion of Mr. Fairchild's
address a motion was made and car
ried that when the convention ad-
journed il he subject to the call OF the
executive committee.
Congressman Jesse OVerstreet of In
dianapolis, who introduced the none
tary bill in Congress, commended the
commissions work. He thought thar
the bin would receive thorough atten-
ton of Congress and said that Speaker
Reed would in no way retard its car
full consideration.
DR.. Samuel A. Robinson. representing
the New York Board of Trade and
Transportation and the Staten Island
Chamber of Commerce, had prepared
an address which was not delivered.
but copies OF which were distributed t.
all the delegates. Other prominent
speakers were General Simon Buckner,
VIM. F. Dodge of New York; eX-Gov.
Q. V. Coffin of Connecticut. and j. G.
Crawford of Texas.
A resolution was adopted requiring
that conies of the conventions pro-
ceedings be furnished to members of
Congress.
\ long resolution prepared and sub
mitted by the executive committee and
which was enthusiastically adopted by
the convention. expressed hearty ap-
proval and appreciation of the none
tary commissions report and of the
recommendation it embodied.
J. \. Wheelock of Minnesota. chair
man of the committee on resolutions
asked John C. BuIlitt of Philadelphia,
to read the resolutions The resolU-
iions recognize the conventions nhiga-
tions to the executive committee and
cordially approve the plan Of currency
reforms submitted by the commission
which is set out as follows:
ITO remove at once and forever
all doubt as to what the standard of
value in the United States is. and is t.
he.
.a-To establish the credit of tho
I-nited States at the highest point
AMONG the nations of the world
"a-yro eliminate from our currqn "
system those features which reason
and experience show to he elements Of
weakness and danger.
"4-To provide a paper currency con-
yrrtible into gold and eo,1aI to if in
valu,, at all times and nlaces on which.
With q volume adeouate to the general
and usual needs of business. there
shall be combined a oualitv of growth
and elasticity through which il will ad-
inst itself automaticallv and nronDt-
" IN all variations of demand Wheth-
or suddnn or gradual. and which shall
dietrihute itself tbrouohout the conn.
fry as the wants of different sections
NAV require
..,-To so ntiIizn the existing silver
dollars as to maintain their parity
with GOLD without imuosinc undue
burdens unou The treasury
"G-To avoid any iniurious cuntran-
tion of tho currency
.--,ro avoid tho issup of interest
hearing bonds except in case of un-
looked for emergency. but TO confer
the mower +. issue bonds when ncceS-
earv for the nresnryatjon Of the cl,lit
of the ~nyrrnrDrnt
.2-To arcomnlish these ends by 4
nlan which would lead from our pres
ant confused and uncertain situation
by nra1ua1 and progressive steps.
without shock or violent change to a
monetary system which will be thor