Rensselaer Republican, Volume 28, Number 14, Rensselaer, Jasper County, 10 December 1896 — TO REFORM CURRENCY [ARTICLE]

TO REFORM CURRENCY

INDIANAPOLIS CONFERENCE ISSUES. A CALL. i Meeting? of Board of Trade Representatives in the Hoosier Capital Takes Action Upon the Question of Holding; a Convention. Monetary Convention. The preliminary conference in Indianapolis of representatives of the leading commercial bodies of the Middle Western States issued a call for a general convention of commercial bodies of the United States, to be held in that city Jan. 5, to consider the reform of the currency and banking laws. The vote, by which it was decided to call the convention, was unanimous. Chicago and Indianapolis were the only cities suggested for the convention. In view of the fact that the call for the preliminary conference had gone out from Indianapolis, it was decided to take the general convention there. The detailed work" of preparing the call and fixing the basis/>f representation was left to a committee composed of one from each city represented in the conference. . , President Justus C. Adams, of the Indianapolis Board of Trade, called the meeting to order, and in a well-timed address referred to the importance of the subject which it had been called to consider. J), E. O. Stannard, of St. Louis, ex-Gov-ernor of 'Missouri, presided after Mr. Adams had finished his speech. Ex-Gov. Stannard said that he felt assured that if the commercial bodies of the country offered to Congress a financial system that would not be subject to change it would be accepted. The principal address before the conference was by John •Rf Wilson, of Indianapolis. He said there was a practical demand for reform. Expedients adopted by Congress in the stress of, war as temporary measures had become an enduring system. Theelegislatipn of Congress on finance had been from hand to mouth since 1861. E. V. Smalley, who represents the St. Paul Board of Trade, said the people of the Northwest, irrespective of party, were heartily in favor of the proposed national convention. The resolutions he introduced provide for a- national convention of representatives of all commercial bodies in cities of more than 25,000 population, “for the consideration of the currency system of the country, and to recommend to Congress such measures for the remedy of such defects as will command the indorsement of the business public.” The conference agreed to that part of Mr. Smalley’s resolution providing for a convention, but there was ’much discussion as to how large the convention should be, and it was decided to leave that question to a committee composed of one representative from each city present. In the call, as finally agreed upon, it is proposed that, the convention shall be composed of 1,251 delegates. The basis of representation is calculated upon the United States-census of 1890, and gives to cities of 8,000 to 10,000, one delegate; 10,000 and less than 15,000, two delegates; 15,000 and less than 25,000, three delegates; 25,000 and ! l6ssthanso,ooo,four delegates; 50,000 and less than 100,000, five delegates; 100,000 and less than 200,000, six delegates; 200,000 and less than 400,000, seven delegates; 400,000 or over, eight delegates.: