The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-01-27
MEN WHO KNOW IT ALL.
Unless the Country Takes Their
Advice It Will Go to Shoel.
GOLD is THE WATCHW0RD
When Fairchild and Other Sir Oracles
Ope Their Mouths Let No Dog Bark
But Let Every Long-Haired
Silver Lunatic Tremble.

pecTGd tnat the monetary 1ouNSHtiote
would remain in session more than two
days and this expectation was realized.
1t settled down to work promptly at
O'clock this morning and adjourned at
O'Clock. subject to the call Of the chair
man. Hugh Hanna. The proceedings Of
the convention were transacted with thai
businesslike method which was charao-
tefistic of the men engaged. There was
about them a snap and vim and energy,
combined with an absence of superfiui-
ties and hair-splitting points of order.
that furnished a refreshing contrast toi
a purely political convention. The busI-
ness of the convention was to endorse
the report of the monetary commission.
which is now before congress in the fori1
OF a BILL and when this was done It
promptly adjourned. The resolutions
and the report of the committee we've
unanimously adopted by the convention.
The convention convened at 10 a. m.
to-day Pending the report of the COM
mittee on resolutions the secretary
read a number of kilograms from var
ious commercial bodies of the country
Endorsing the plans of the commission.
E. ]. Parker of Illinois presented a res
ofution approving the efforts of the
National Business League to forward a
movement toward the establishment of
a.national department of commerce and
industries, the head of which shall be
a member of the cabinet.
Charles s. Fairchild, ex-secretary of
the treasury, delivered a speech. He
said: Men in the past must have had
standards of value and mediums of ex-
change, or circulating mediums. or
whatever name you may. give them,
with no law save the customs of bust
ness. These they can have in the fu-
ture without statutes, and they will
have them in spite Of statutes If the
statutes stand in the way of the ire
a. - Ill 1t
of men. Whatever be the standard
named in law. men will continue to
measure value by gold until by con-
currence of their habits they evolve
something that suits their purposes
better" He said the commissions re-
port was an attempt. TO remove unnat7
ural barriers of law and make statutes
supplement and assist the laws which
the habits of business men had evolved
He continued: Gentlemen, your
right to meet. to have and sneak your
opinion, to make your petition and to
win your cause is declared in the bill
of rights and embodied in the constitu-
ton of the United States. The spirit
that brings you here is that which
makes possible, and is the condition
precedent, to a government of the peo-
pie. We claim no more than this high
and ancient right, and no less. Your
authority is no more than that which
can be given by the combined charac-
ter, wisdom and patriotism of the vol
untary organizations of the men in all
parts of our country, who move and
direct its mighty business. whose brain
and arm give life to that which without
army or navy, a nations glory its gov
eminent ever can be.
The next speaker was Congressman
Jesse Overstreet. of the Indianapolis
district. who introduced the monetary
bill into congress. He thought the bill
would receive thorough attention by
congress, and would in no way retard
its consideration. IF we are de-
feated," said he, I'VE shall not be con-
quered."
c. c. Homer of Baltimore urged the
Importance of organization and said
that congress should understand that
this plan was the will of the people.
Mr.. Wheelock of Minnesota, chairman
of the committee on resolutions, asked j..
c. Bullitt of Philadelphia to read the
resolutions. These resolutions recognizes
the conventions obligations to the eN-
ecutive committee and cordially approve
the plan of currency reforms submitted
by the commission.
Mr.. 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 We're discussed in five
minute speeches and at 2:S0 after two
mously adopted. The resolutions set
forth the plan as follows:
'First-To remove at once and for
ever all doubt as to what the standard
Of value in the United States is and is
to be.
"second-To establish the credit of the
United States at the highest point
among the nations of the world.
Third-To eliminate from our cur
rency system those features which rea-
son and experiences show TO be ele-
ments of weakness and danger.
..Fourth-To provide a paper currency
convertible into gold and equal to il in
value at all times and places. in which
the volume is made equal to the neces-
sary needs of business. there shan be
combined quality of growth and elias
ITCHY through which il win adjust itself
automatically and promptly to all varia
tons of demand. whether sudden on
gradual, and which shall distribute IL
self throughout the country as the wants
of different sections may require.
-<sFifth-To utilize the existing silver
dollars so as to maintain their parity
with gold without imposing undue bur
dens upon the treasury.
..Sixth-To avoid any injurious con-
traction of the currency.
"Seventh-To avoid the issue of inter-
est-bearing bonds, except in case of un-
looked for emergency, but TO confer thu
power to issue bonds when necessary fol-
the preservation of the credit of the gov
eminent
"Eighth-To accomplish these ends by
plan which would lead from our pres.
ent confused and uncertain situation, by
gradual and progressive steps, without
shock or violent change. TO monetary
system which viii be thoroughly SAFE
and good. and capable of growth TO any
extent that the country MAY require
Approving of the expressed ideas Of
the convention and of its plan, we do
most earnestly and cordially commend
ii to our fellow citizens as worthy o.