Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-27
DRY BUSINESS.LIKE.
0ETARy CONVENTION DOES ITS
WORK AND ADJOURNS.
TIME FRITTERED AWAY,
OF THE COMMISSION IN
7 QUALIFIEDLY INDORSED.
,r%a nizati to He Permanent and
Members May he Convened by
Call of Chairman Hanna
Very Few bankers in
the Convention.

indianapolis. Jan. est was not expect
4 that the monetary convention would re-
,ain in session more than two days, anu
n his expectation was realized. 1t settied
avn TO work romutly at 10 o'clock this
,orning and adjourned at . o'clock. sub
set TO the call of the chairman, MT. Hugh
lama.
II was a convention that was notable for
he prominence of its delegates in business
ircles. and for the large number. who. at
he sacrifice of their private interests. made
he long journey to Indianapolis 10 en-
,hasize. by their presence, their strong
ympathy with the movement for currency
eform. The number of bankers who at
ended was less than a dozen. The remand
r CT the 500 delegates were representatives.
tho various commercial bodies. with a
fprinkling of political economists. PROM
knent arong whom was Professor Taussig.
III Harvard university.
The proceedings of the convention were
\, transacted with that business-like method
which is characteristic of the men engaged.
There was about them a snap and a vim
Ind an energy, combined with an absence
N superfiuities and hair-splittinf- points of
}rder. that furnished a refreshing contrast
70 a purely political convention. where
prompt action is less required than the ad-
EantaSe of this or that particular candi-
Nate. There was no desire to shirk the work
Entrusted TO the delegates, nor was there,
bn the other hand, any purpose unduly TO
Relay its completion. The business of the
convention was to indorse the report of the
monetary commission, which is now be-
fore congress in the form of a bill. and
when this was done II promptly adjourned.
Many of the delegates returned to their
11omes this afternoon. All of the New
York and Eastern men left on early trains,
Rnd some of the Iowa delegates were equal
~ prompt in getting away. Tonight only
= score of the delegates are about the hotel
%obbics. and the convention, of which they
fwere a part. has already passed into his
TORY.
A long resolution, prepared and submitted
10y the executive committee, and which was
Enthusiastically adopted by the conven-
ttion. expressed hearty appreciation of the
monetary commissions report and of the
Recommendations it embodied.
The resolution recites the fact that the
leleven members of the commission. who
are severally named. gave to their work
without any compensation or reward eX-
cept the consciousness of duty well and
faithfully done. many months of arduous
work. at great sacrifice by each of them,
In absence from home and in valuable time
needed for their own serious ana inn
portant duties and declares it to be the
earnest conviction of the convention that
there has never been in the history of our
country a body of men more truly repre-
sentative of all that is best in American
Alife. manhood, patriotism and intelligence.
Anor one that undertook and fulfilled a
|5lgreat task for the general welfare in a
I5fspirit of more unselfish devotion TO our
Ecountry.
The resolutions set forth the plan of the
LIcOmmiSSiOn aS follows concluding h- in
dorsing and approving IT,:
"Ffrst-To remove at once and forever all
doubts as to what the standard 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 currency
system those features which reason and
experience show TO be elements of weak.
ness and danger.
"Fourth-To provide a paper currency
controvertible into gold and equal to it IN
value at all times and places, in which
n with a volume made equal TO the genera
III and usual needs of business, there shall
be combined a quality of growth and elias
ITCHY through which it will adjust itselt
automatically and promptly TO all varia.
lions of demand, whether sudden or grad
uai. and which shall distribute itsel
throughout the country as the wants o
different sections may require.
"Fifth-To so utilize the existing silye,
dollars as TO maintain their parity witt
gold without imposing undue burdens upor
the treasury.
"Sixth-To avoid any Injurious contrac
4 ton Of the currency.
"Seventh-To avoid the issue of interes
bearing bonds, except in case of unlooke,
for emergency; but to confer the power Il
issue bonds when necessary for the preser
walton OF the credit of the government.
"Eighth-To accomplish these ends by
plan which would lead from our presen
I confused and uncertain situation by grad
ual and progressive steps without shocl
or violent change, to i monetary system
which will be thoroughly safe and good
and capable of growth to any extent tina
Z the country may require.
approving of the expressed purposes c
the commission and OF its plan. We do mos
earnestly and cordially commend it to OIL
fellow citizens as worthy of their approx;
and adoption, and we urge upon the cor
Sress of the United States that the prime
y piles embodied by the commission In the
report should be enacted into law. with III
belief and expectation that the effect woul
he 10 secure a solid, substantial and stab
fina nc!al system that would rebound TO til
credit of the country and insure a state I
prosperity that cannot be achieved unles
and adaptahility OF which cannot be que!
toned or Eainsaid.
The time has now come when the pro.
poets for the establishment of the col
landa upon a firm and enduring bas
are Frightening and encouraging. The pee
pie want n note currency which shall be 4
good as gold. This movement proposes
bring about that result.
The people want a volume of currenc
adequate to the general and useful nee,
Of business. with n quality of growth ar
elasticity through which II will adjust itse
automatically and promptly TO all vari.
tons of demand. whether sudden or graf
ual.
The people Of the Western and Southel
stntes wish the issue so distributed that Il
scarcity of currency will no longer hamp
and distress them I'm their business oper
tions. A method is proposed whereby the
wants can be supplied and their demant
car he complied with.
appeal To them-we appeal to all y
triotic citiZens-to unite with US in an ear
esl effort 10 secure from congress such lie
islation as will wisely but surely eventua
IN bringing about sound financial metho
and in building up and establishing con
dcrce. security and safety in busine
tri nsactions and in the ownership Al
value Of property.
THAT the executive committee be cont
ued. with power and authority 10 adj
their number. and TO fill any .yacanci
which might occur. and also with pow
End authority to adopt such measures (
procuring the needed legislation from co
eress as they in their Judgment deem a
yIsable and eNpeditious.'