The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-01-27
M"SErAnT CoNEEnENCE CLOSED.
Hiii ofthe Monetary Commission Fin.
dorscd Resolutions Adopted.

|
"ouid rSinain In session more than two
days and this expectation was realized.
/ 1t settled down TO work promptly at
~ O'Clock this morning and adjourned
al O'Clock, subject to the call of the
chairman, Mr.. Hugh Hanna. l.. was q
convention thar was notable for the
| prominence Of lis delegates in business
| circles and for the !ilrgc number, who
| III the sacrifice VI their prvate interests
| Hiauc ihc long journey TO indianapolis
10 emphasize hy their prescnce their
strong sympathy with fhn movement
| lor currency reform. The number Of
bankers who attended was limited TO
| less 'alan Il dozen. The business Of ihn
! convention was TO endorse the rc,t9rt of
lhe monetary commission which is now
| before CngreSS in the form III a bill,
| aEt when this was done ii urounily
| adjourned.
soon after thc convention met this
| morning, eX-SEcrc:ary VI the Treasury
raHchlid, IL member uf the Monetary
commission. delivered an address
| The next speaker wa, Congressman
Jesse Overstre,L. of the lndinnapolis
| district, who introduced the Monetary
| Dill in Congress
Mr. WherlOck, of Minnesota, chair
! man or the Committee on RcSDlut l}ns.
asked John c. Bulit;. of Philad&lphia.
y" rGad the Resolutions The rcsolu-
| if,ES recognize the convcnMon's Cbi-
cations 20 the Executive Committee,
! an" cordially approve the plan of cur
| rcncF reform submitted by the com
mission, which Is sc,t out as rlNows:
l. To remove ;ut once ana for ever
an douh; as to what ghe standard OF
! value in the United States is, and is to
| be.
4
-. IT, establish ,hhe cred, OF the
United Sla' nj r!lc highest point
anohs the nations of the world
| j. To elSn,ina'.r from our currency
system Those features wlicn rcasoi,
ana experience s'now to he elements ar
| weakness and danger
=. 10 Provide Il paper currency CON
! Sertipie mo gold and equal to n in
Naiuc at all times and places, on which
! W'hioo u volume adequate u the gen
eIiti ana usual needs OF business. there
snail be combined II quality of rro,y,',h
| ana elaSticNy through wIhich +; will ad-
Just itself automatically and prom,ttIv
no an variations of demand, whather
S"uueil 'Jl' gradual and which shall dis
lripMte Htself throughout the country
! as 'rie wants of different sections may
! require. may
-. 10 50 utilize the existing silver
.',t. LIARS as to maintain their parity
burdens upon the Treasury.
/ D. 10 avoid any Injurious contrac.
/ iion of the currency
q. TO avoid the issue Of interest
| nearing bonds, except in eases of IN
| Iookcd-ior emergency; but TO confer ihn
p"Wer to ISSUE bands when necessary
! lor Inc preservation OF the cradiI NJ
! Inc Government.
y. TO accomplish these cnda nv
iEth winch would lead from our pres
thl confused and uncertain situation
ny gradual and progressive stems,
| without shock or violent change, 10 n
monetary system, which will be thor
"uShly safe and good. and capable of
SroWth 10 any extent that the coun
| Try may require"
| approving Of the EXPRESSED NM
! pose of the commission. and or lie
pan. we d" most earnestly and cor
u'aliy commend il 10 our fellow cIti
"eha as worthy OF their approval and
adoption, and we urge upon the Con
Srcss Of the United States, that the
sion in tRair report should III he tg,i,i,,sI ennn,nd
| INTO law with the belief ana cxpccta
! non ihtt the effect would be 70 So
cure solid, substantial and stable
| nhancla system that would rebound
| To the credit Of the country and in
! ne achieved unless there rs q system
/ OF finance. the Integrity ana aduDta
niiity OF which cannot be questioned or
| gainsaid.
Ihe time has now come when the
! prospects for the establishment of the
Eoiu standard upon firm and andur-
| ing basis are Frightening and encOur-
aging. The people want note cur
rency which shall be as good as gold.
| ms movement proposes TO bring about
| that result
The people want a volume of cur
! fehcN adequate TO the general and
usuhi needs Of business, with quality
Gi growth and elasticity through which
II VIII adjust itself automatically and
| promptly to all variations of demands,
| whether sudden or gradual
! The people of the Western and
southern states wish the issues so dis
! tFlDuied that the scarcity of currency
will no longer hamper ana distress
them in their business operations.
/ method is proposed whereby their
! wants can he supplied and their de-
| munds can be complied with
we appeal to them--Wc appeal 10 all
| patriotic citizens 10 unite with us in
an earnest and determine effort 10 Sc
! cure from Congress such legislation us
| Will wisely but surely eventuate in
! bringing about sound financial meth
DDS and in building up ana establish
/ ing confidence, security and safety in
| business transactions and III the own
crShip and value Of property
! That the Executive Committee he
continued, with power and authority to
add 10 their number ana to ill ans.
vacancies which may occur. and also
with power and authority to udopt
such measures for procuring the
needed legislation from Congress as
they. in their Judgment, may deem ad-}
V!sahle and cXpedient."