The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-01-27
CURE FOR FINANCIAL ILLS.
monetary Convention Adjourns-
speech by irchiId-Recommen-
dationa to CONGRESS.

tNDAt~>Arol.IS. Jan -t---I7e monetary
convention convened al % o'clock today
Pending the report OF the committee on
resolutions the secretary read 4 number
Oh kilograms from various commercial
! bodies OF the country indorsing The plans
OF the commission.
Il. j. Parker. OF Illinois. presented res
oiution approving the efforts CT the ma
fional business league 30 forward 4 move
inens towards the establishment OF 4 ma
| tionai department OF commerce and indus
tries, the head OF which shall be member
| OF the cabinet
Charles r. Fairchild. ex-seeretarv OF the
treasury, delivered speech. in which he
said:
Men In the past must have had stand
ards of value and mediums OF exchange.
or circulating mediums. or whatever name
you may give them with no laws save the
customs of business. These they can have
IN the future without statutes and they
VIII have them In spite OF statutes if the
statutes stand IN the way OF the irreSlst-
lble force OF the c0ncurring habits of men
w Whatever be the standard named in the
law. men viii continue 70 measure value
BY gold until by concurrence OF their habits
pose better
He said one commissions report was an
attempt TO remove the unnatural barriers
OF law and make statutes supplement and
assist laws which the habits OF business
men had evolved. He continued:
IN have
ana 70 speak your opinion. 10 make your
petition and 20 win your cause. is declared
In the bill of rights ard embodied in the
constitution OF the United States. The
spirit that brings YOU here is that which
makes possible. and is the condition prece-
dent 10. government Of the people We
eiaigl no more than this high and ancient
right. and no less.
Your authority is no more than that
whlch can be given by the combined char
acteT, wisdom and patriotism OF the voiun-
NJ r3k tt1ka
country. who move and direct its mighty
business. and whose brain and arm gives
HE 10 its government"
the next speaker was Congressman
Jesse oSerstreet, of the Indianapoli dis
trict. who introduced the monetary bill
in congress. He thought the bin would
receive thorough attention and would in
no way retard its consideration. If we
are defeated" said he, we shall not be
conquered"
C. c. Homer. Of Baltimore. urged the i'm
portance OF organization and said that
congress should understand that this plan
was the will of the people
AIR. Wheeiock, of Minnesota chairman of
the committee on resolutions. asked ]. G.
Bulhtt, of Philadelphia, TO read the reso-
lu'ions. These resolutions recognize the
conventions obligations TO the executive
committee. and cordially approve the plan
OF currency reforms submitted by the
favor of the resolutions and as ii gold
Democrat urged concentrated effort look
ing 10 currency reform without regard 10
party ties.
The resolution5 were discussed In five
minute speeches, and at 80 o'clock. after
two hours Of favorable debate. We're
unanimously adopted.
The resolutions set forth the plan as fol-
lows:
"FIrst-To remove AZ once and forever
all doubts as 10 what the standard cf value
In the United States is and Is 10 he.
"Second-To establish the credit OF the
United States at the highest point among
the nations of the world
''rhird-To eliminate from our currency
system those features which reason and
experience show TO be elements OF weak
ness and danger
''Fourth-To provide q paper currency
convertible 10 gold and equal 10 ii IN
value at ali times and places. In which the
volume is made equal 10 the necessary
needs Of business, and in which there shall
be combined a quality Of growth and
elasticity through which Il VIII adjust IL
self automatically and promptly 10 all Va
riations of demand. whether sudden or
gradual and which shall distribute itself
throughout the country as the wants OF
different sections may require.
''Fifth-To utilize the existing silver dol
lars so rs 10 maintain their parity with
gold without imposing undue burdens
upon the treasury.
''sixth-To avoid any injurious contrac-
tion OF the currency.
..Seventh-ro avoid the issue OF interest
bearing bonds. except in case Of unlocked
for ene rgency, but TO confer the power
TO issue bonds when necessary for the
preservation of the credit OF the govern
ment.
-.rtghth-To accomplish these ends by
a plan which would Head from our present
confused and uncertain situation by grad
ual and progressive steps without shock
or violent change 10 monetary system
which will be thoroughly safe and good
and capable OF growth 10 any extent that
the country may require
Approving oi the expressed fears Cf She
commission aIN Of its plan. Ne do most
earnestly ANA cordially commend IL 10 our
fel,ow-ctiixens as worthy of their APP
prevail and adoption and We urge upon
the congress Of the United States that
these resolutions should De embodied.
with the belief that they would secure
sohd and stable financial system that
would rebound TO the credit OF the c0uD-
try AMI insure r state Of prosperity that
cannot be achieved unless there Is "A sys-
tenn Of finance, the integrity ard adapt
ability 81 which cannot be questioned or
eainsaid.
The time has now come when the pros
VfctS foE ibe establishment ct fne gold
81 ndard upon p nrN and enduring basis
are Frightening and encouraging. The
People want q paper currency Which shall
ee as good as gold. This movement pro-
poses II brink about this.
Tho people want = volume 81 MONEY
adequate 10 The general ana usual needs
nf business. wtth an equality OF growth
ana elasticity Through which IL w!il adjust
tsslf su;onaa t4caliy and promptly 30 al
variations ana demands. whether suddCa or
..frSe ras,nle ~ the Western ana southern
states wish tha t~5sle ~ Distributed thaI tne
scarcity % currency Will no longer hamper
and distress them 30 their business oCSg-
psctoDS. method L proposed Whereby
tnvir NaHtS can D. supplied and ;ecir de-
uAufs can hc complied with.
we apHeai - II n. We appeal 70 al
pHrEletic cits2rnS to uNlte with rs tn as
earnest and determined effort 10 secure
from congress rg9el teai ltlou SD wise
IA 6lf SaTNiA sNen-QAta IN bringing ao0ut
sound financial methods and 81 asi6ing az
-sHa esq 4olirninS coincidence security and
safety .H business t-snss ,'tlu-ls and in The
ownership aUd Nasae ~ property.
Ne recommend thAt thr NEGATIVE can,-
gnittce ae continued With power ana aH-
tsnrleY ta add Ia t&eir Uaun.-r &aa 70 slli
auF vacancies NHztsa CutAGt cC<slr. ard
80 w3ts lowcr and Authority 50 adept
.1sy1 measures toT procuring needed ks
iatsc0 from congress tS they in ta~.r ludg-
meut- deem advisable and exDesiea;.''
The convention then 81journei suhtect
- the cals or rae sXet8tiyv committee
Ger : men Burknar - keu.urszv ex-
pressed hlmSel: IS pleased MIA ths con-
mission plan.
f--e, rsi.-s.ess -