The World. [volume] (Martinsburg, W. Va.) 1891-1896, 1893-05-12
.THE BANKING SYSTEM.
The Duty National Banks Owe to
: the United States.
EGKRLS DINED IN NEW YORK
The National Bank has Facilitated Exchange, Pro,
noted Commercial Transactions and Broaght
in Close Relations All Over

WAstEISGToN. May THE directors
Of the Washington Loan and Trust Co.
gave dinner Wednesday night in hon
or OF the new controller Of the currency
Controller Eckels, expressing his thanks
for the compliment, said in the course
Of his speech;
,s'Ihe banking system which you represent
Is TOO great and the interests which Ii In
wolves too far-reachinR in iheir importance
TO be either lightly dealt with or hastily
acted upon II may be changed 10 the fn
ture under the pressure Of now necessities.
but such change win only be wrought UNI
der . consideration commensurate with the
magnitude OF the subject and for the bcttefment
81 the system II viii not come rs result Of
political change, nor for the furtherance Of po-
litical desires Its strength and its existence
must always rest IN the confidence which the
people have IN H. as best securing to them the
fulfilling Of their wants and the absolute safety
Of its obIigatidns
..The national bank :, he said. -has facilitated
exchange, promoted commercial transactions
and brouR ht ia close and harmonious relations
every section Of the country. Born OF the exi
gencies Of q great war, etbodyiug many OF the
detects Of the legislation Of the period.
and embarrassed by the conflicting interests
that then confronted struggling government 10
maintain the nations credit Il has 50 thriyed
that to-day there are In active operation g. 800
banks scattered through the nation, eapi allied
10 the amount OF t6Ss 8i3. $40. and having assets
10 the amount OF 81 800 900, COO and 30 conducted
that no point Is 50 remote or too nnimpoftant
to be gathered within the sweep OF the mighty
volume Of its business.
Hut while tho banking intcrests take 70
themselves much OF the credit for the results
accomplished by the national banking system.
IL must be conceded that Its great success has
arisen through the knowledge on the part
OF tho people that the national bank was
distinctly a child OF the government and
as such, through Its fostering care, az
forded o safety that before under smother sys
tenn, In times less prosperous and states less
rich, was wanting. because Of this believe
that upon every national bank Is placcd the
moral obligation to hold itself ID readiness 70
assist the officers Of the government In
every time Of distress IN maintaining the
nations credit. / am awnre thai no logical
reason exists for such NJ course, but,
haying drawn 50 much wealth and power to
themselves through tbs generous dealing Of The
government with them, that the bankers Of the
country can i'll afford to place themselves in
the attitude OF looking with indifference
upon the anxiety Of the financial representa-
tive Of tho treasury. when the financial
integrity Of the government IL threatened.
"A prefer Of help from them at such time,
spon tanoous in character and patriotic In Its
motive. will diaarm a thousand critics who are
loud In their denunciation If - and reconcile
them 10 q system which they = 90 with being
the recipient Of special privileges denied 70
them y
There were present representatives
OF each Of the national banks and trust
companies Of Washington, several bank
officers from Baltimore, and others.