The times. [volume] (Richmond, Va.) 1890-1903, 1893-06-06
THE CoMPTRoLLEK's UNsoUND
VIEWS.

The new Comptroller OF the Currency.
Mr.. Eckels. is favorably spoken Of by
those who know him. but it is certain
he has had little experience in the mat
ters that his office puts specially under
his control and that lack Of experience
may lead him into serious error II he
does not look out. He made an address
before the bankers Of Baltimore and
Washington few days back that con-
tains some propositions which we are
disposed to look at somewhat askance.
He said, for instance, that the national
bank is a Child OF the Government
fostered and protected by It and granted
privileges and immunities not enjoyed by
the financial institutions Of former times
and thereby insured a degree Of success
and prosperity which those predecessors
never enjoyed. and he drew the inference
that every national bank is placed under
moral obligations to hold itself in readi-
ness at all times and under all circum-
stances 10 assist the officers OF Govern
ment IN every time Of distress In main
tanning the nations credit"
There is here more than suggestion
OF the relation between the national banks
and the Government Of parent and ,hnd.
creator and creature. and # is the sug-
gestion of a Governmental relation wholly
foreign to every idea Of Democracy en-
tertained by The Times. The Times is an
implicit believer in the doctrine so tersely
stated by Mr.. Calhoun that there should
be an absolute divorce between Govern
ment and banks. The business Of receiv-
ing money on deposit. issuing negotiable
promissary notes for the convenience Of
circulation. lending out money Tor in
terest, and collecting money for commits
sions Is the whole business OF bank
and II is a business with which the Gov
eminent should have no connection or
concern whatever The Government
exists 10 lay and collect so much in the
way of taxes as is necessary To pay the
expenses Of administering the laws and TO
administer the laws imparually and justly
between all citizens, and il has no proper
existence In connection with any other
relation I'm life
When. therefore. Mr.. Eckels puts for
ward the proposition that the national
banks are petted favorites Of the Govern
ment that are expected 10 return the Gov
eminent favors for those that il receives.
he puts forward a proposition that implies
relation between Government and banks
which We can never concede as one that
can properly exist. 1t Is true that his idea
is the popular one Of the day. During
the war ana for a number Of years after
IT, the Government daily put forth evil
dences Of extraordinary energy. and its
Interference in all the affairs OF every
mans customary life. accustomed the
people 10 looking up 10 the Government
as great colossus on which they had
right to lean. This idea has grown in
Mr.. EclSeis' mind, as in the minds OF
thousands OF his fellow-citizens. out OF
that condition Of things that they were
reared 10 look on every day. But n ia
none the less perverted idea OF the true
relation or Government 10 the AFFAIRS OF
The people, and it is one that leads up
directly TO all the vicious theories Of the
Socialist
We have met with another evidence OF
the same tendency in Mr.. Eckels' mind.
Senator Vest. Of Missouri. has had an
interview in New York. IN which he said
that he found Mir. Eckels endowed with
horse sense" the Senator discovering