Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1898-02-03
A MONETARY CONVENTION.
Advocates of Gold Standard Gather
at Indianapolis.


at Indianapolis.
indianapolis, Ind, Jan. &c. - Four
hundred delegates were present at the
Grand Opera house Tuesday when
Chairman Hanna, of the executive COM
mittee, called the monetary convention
to order. This was an increase of 100
over the number of delegates that at
tended the first Indianapolis conven-
ton of year ago, and it was regarded
as indicative of the interest which the
business men feel in the movement for
a reform of the currency laws.
Two governors-Gov. Mount, of In
diana, and Gov. Shaw, of Iowa-were
the speakers at the afternoon session.
Gov. Mount delivered the speech of well
come and Gov. Shaw spoke for more
than an hour on the gold standard and
the retirement of the greenbacks.
Indianapolis, Ind, Jan. EFT was
not expected that the monetary con-
vention would remain in session more
than two days and this expectation was
realized. It settled down to work
promptly at ten o'clock Wednesday
morning and adjourned at two o'clock
subject to the call of the chairman, Mr..
Hugh Hanna.
z. J. Parker, of Illinois, presented
resolution approving the efforts of the
National Business league to forward
movement to the establishment of
national department of commerce and
industries, the head of which shall be
member of the cabinet.
Mr.. Wheelock, of Minnesota, chair
man of the committee on resolutions,
asked John c. Bullitt, of Philadelphia,
20 read the resolutions. The resolutions
recognize the conventions obligations
to the executive committee, and cor
daily approve the plan of currency re-
forms submitted by the commission,
which is set out as follows:
81. To remove, at once and forever, all
doubt as to what the standard of value in
the United States is and is to be.
'2. To establish the credit of the United
States at the highest point among the ma
lions of the world.
''3. To eliminate from our currency sys-
tenn those features which reason and ex-
perience show to be elements Of weakness
and danger.
a. To provide paper currency con-
vertible into gold and equal to it in value at
all times and places, in which, with a vol
ume adequate to the general and usual
needs of business there shall be combined
a quality of growth and elasticity through
which it will adjust itself automatically
and promptly to all variations of demand,
whether sudden or gradual, and which
shall distribute itself throughout the coun-
try as the wants of different sections may
require.
80. To so utilize the existing silver dollars
as to maintain their parity with gold with
out imposing undue burdens upon the treas
ury
'6. To avoid any injurious contraction of
the currency.
~. To avoid the issue of interest-bearing
bonds. except in case Of unlooked-for
emergency; but to confer the power to
issue bonds when necessary for the preser-
walton of the credit of the government.
49, To accomplish these ends by a plan
which would lead from our present con-
fused and uncertain situation by gradual
and progressive steps, without shock or
violent change, to a monetary system
which will be thoroughly safe and good, and
capable of growth to any extent that the
country may require.
Approving of the expressed purposes of
the commission and of it's plan, we do most
earnestly and cordially commend It to our
fellow citizens as worthy Of their approx
al and adoption, and we urge upon the
congress of the United States that the prin-
ciples embodied by the commission in their
report should be enacted into law, with
the belief and expectation that the effect
would be to secure a solid, substantial
and stable financial system that would re-
dound to the credit of the country and Sc
cure a state of prosperity that cannot be
achieved unless there is a system of finance
the integrity and adaptability of which can
not be questioned or gainsaid.
THE time has now come when the pros
poets for the establishment of the gold
standard upon a firm and enduring basis
are Frightening and encouraging. The peo-
pie want note currency which shall be as
good as gold. This movement proposes to
bring about that result. The people want
a volume of currency adequate to the gen.
eral and usual needs of business, with
quality of growth and elasticity through
which it will adjust itself automatically
and promptly to all variations of demand,
whether sudden or gradual. The people of
the western and southern states wish the
Issues so distributed that the scarcity of
currency will no longer hamper and dis
tress them in their business operations. A
method is proposed whereby their wants
can be supplied and their demands can be
complied with.
1--WE appeal to them-we appeal to all pa
triotic citizens-to unite with us in an
edTHeSl anu ueleTHllUeu elliott 10 secure
from congress such legislation as will wise
ly but surely eventuate in bringing about
sound financial methods, and in building up
and establishing confidence, security and
safety in business transactions and in the
ownership and value of property"
A number of short speeches were
made with reference to the resolutions.
Among the speakers were Gen. Simon
Buckner, of Kentucky, who was cam
didate for vice president on the ticket
with Gen. Palmer, of Illinois; John
II. Rhoades, of New York; William E.
Dodge, of New York; eXGov. o. V.
Coffin, of Connecticut, and Judge Craw-
ford, of Texas.
A Costly Blaze.