The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-02-06
GLASS OFFENDED
BY RESOLUTIONS
(Continued From First Page

conflict with the Democratic platform -
This was everything said on this line.
your criticism regarding the pro-
fessor whom we invited 70 speak.
-egard as absolutely unjust. He wa.
sitting next to our Congressman-elect
and spoke to the company almost en-
tirely on the subject OF banking and
currency reform. and not TO my recol
lection did he say anything discredit-
!ng the high position that Congress
man should fill
The resolutions were not seen or the
wording Influenced By the chairman.
II is but fair TO state that no thought
ever occurred TO any one at that
gathering to criticize or hamper your
committee The whole purpose Of the
meeting was to show the interest o.
commercial bodies in prompt action on
the subtec, in question. The feeling
OF the meeting was that the question
OF banking ard currency reform was
sucn an important one that IL should
be removed az far as possible out c
politics. and the sentiment was thar
the Democratic party was put into
power to improve conditions. and not
altogether to adhere TO party pla,
forms and extreme party tenets
The Richmond Chamber Of IJm-
merce. and / feel sure that the repre-
Sentativcs OF the other bodies pres
ent have no desEe 20 interfere with
your committees work. and | do not
believe that our action justifies this
Implication: but we respectfully sub
nit that the presentatives OF com
mercial bodies have the intelligence
TO study these economical questions
III =.
their views known.
Trusting that l have made myself
clear and have properly explained the
motive OF the meeting. / am,
Respectfully.
(signed) T. VI. CARRINGTOS.
President
The resolution at which the letter
of Congressman Glass are directed
were drafted and unanimously adopted
at a conference held in Richmond at
the Jefferson Hotel on the night OF
January l.. attended by representatives
Of the Richmond Chamber of Com
mcrcc and delegates from the com
mercial organizations OF Chase City.
Danville. Farmville. Newport News.
Norfolk. Petersburg and South Boston.
The delegates were appointed by their
organizations for the purpose Of con-
siderinS the question of currency and
banking reform. Their resolutions fol-
low.
Whereas. the need for immediate re-
form ia our banking lawsis necessary
10 the stability as well as the proper
expansion Of trade and industry. and
whereas banking is not q political
question and should not be made
matter Of partisan politics: and
Whereas. our defective and antiquat-
ed banking laws should be revised ia
the light Of recent authoritative study
and investigation; and
whereas. II is the general cou~cnsus
Of expert opinion that a greater degree
Of Capitalization In our banking sys-
tenn is absolutely essential to the prop
CT use Of bank reserves. to the estab-
lishneut Of uniform rates Of discount
and 20 the creating Of a proper market
for commercial paper. ana
whereas. the creation Of a national
hank reserve fund under proper safe
guards would obviate the present dan
ger Of a control Of banking and credit
facilities bv sinister interests.
ne II therefore resolved as the sense
Of this meeting.
FIrst. That Congress should grant
prompt relief In the form Of iegisla-
ton witch would remedy the present
dangerous conditions. and
second. That members Of Congress
charged with the grave resp onsibility
Of formulating and enactins legislation.
should not accept the declarations OF
party platforms 80 greater 81 authority
than tire facts obtained by exhaustive
ana unbiased Investigation. nor Ign ore
the valuable lessons Of long established
precedent as evidenced by the monetary
systems Of those older nations most ad-
vanosd In Industrial development and