Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1893-09-20
ECKELs DINED.
Restoration Of Confidence Forms
the Theme OF His Speech
Ing the People-ro Bankers 10 Due
the Fact That There Has Not
Been Greater Depression.

CHICAGO, Sept 15.-Around q ban
quet board shaped like horse-shoe.
embiematic OF the good luck that at
tended Chicago during the paniclxy
days Of Juiy, gathered the bankers of
Chicago Thursday night to do honor to
their guest. Controller James II. Eek
els The men present NJ the banquet
were the most prominent in Chicago
and western financial circles. In reply
to the toast in his honor, Mr. Eclels
thanked his Chicago hosts, and contin-
ued:
zone Of the great dailies OF New York intro
ductory 10 an account OF dinner there given
two months since, At which had the honor TO
be guest said Amid ihe crashing and top
p.inE OF western banks. the sankcrs Of New
York. republicans and democrats alike, met
last even ng aud gave expression 10 their faith
IN the financial stability OF our country
II can not but be a source OF mutual congrat-
ulauon that the gathering OF tonight IS under
other and different circums tauces. Tho disas-
tiers then threatening. happily for US all have
passed away AR GIFTED dcpesltors, realizing
that they have done an injury TO themselves,
ana feeling that the thousands OF banking in
stitutons which they suddenly and without
cause doubted are yet as solvent they were
during the years OF their implicit conf
dence in them. are returning their
money. that 10 may no longer lie
in wastcful idlcness but again entering tho
channels OF trade give life 70 deadened indus
tries On every hand IS evidence OF a bcttcred
condition. 80 marked that he who runs may
read The paralysis OF fear which so insidious-
~ came upon the people IS surely leaving them.
II yielded 20 "A degree when the president culled
an extra session OF congress 10 repeal the cul-
minating cause.-the Sherman silver act Tho
advance has been marvellous since the heroic
treatment accorded IL in the house OF repre-
seniauyes, ana the recovery will be complete
han f1tsa-
public opinion, confirms the action of the house
From January 10 the 18th OF August, ono
hundred and hfty-four national banks under
the pressure OF various causes, closed their
doors, but more than so remained mistaken
surely the percentage OF closed banks was not
sufficiently large TO make the most despondent
believe the system was falling Was there not
cause for encouraging opinions when a was
found that almost one hundred OF the mum
Der were absolutely solvent and Uould
reopen for husinessf Should the prompt re-
sumption Of siSty-one national banks stronger
than at their closing. and the knowledge that
more than half that number were preparing to
do the same lead TO any other opinion than
that the outlook must be brighteningI Should
reports OF deposits largely in excess OF with
drawals at each reopened bank, and returning
confidence In each community where located
be source OF depression instead OF an inspira.
ton 10 hopef could not have spoken other
than did and maintained the truth
In conclusion, let me bespeak what know
to be the sentiment of the American people
when i say that TO the conservative, wise
and tudicious course pursued by the bankers
OF this country is due in the largest measure
the fact that there has not been greater de-
preston. The politician and TIE carping
critic may find fault, but the thoughtful citi-
zen. unbiased and unpreiudiced, seeking
neither votes nor notOriety, knows that the
course which has been pursued here and
elsewhere by the interests here represented
has prevenieda panic that would have gath.
cred within its sweep every business interest In
the country. In great emergency the bank
ers OF this country have risen TO the full
measure OF their responsibility, and meeting
II have earned peoples thanks. The expert.
ence through which We have passed has been
so costly that hereafter no party will juggle
with the country's interests for the sake OF
political advantage"