The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-07-29


Il one may judge from the roasting that
CesapsroIler Eckeis gets at the hands Of
tbs Phiisdeiphia Prem and the Albany
Esssisg Journal. his recent speech excited
About ~ much contempt 1t the extreme
Est ~ IL did on the Pacific COST. Eckeis
Is described as .'undersixed" and little
msFs than boy in appearance, who de!iv-
erred the following oracular utterancs that
vas enough to make Jack Bunsby trembls
for his isrreis:
II believe that there will Be an improve
msflt soon. When rock bottom Is reached
thsags cannot become any worse"
The Philadeiphia PSen thinks that
E4sseis' speech in New YORK would better
no: have been spoken. It's tone Was that
OF Sunday school grafton, especially d.
ressssd 70 the class of mischievous boys.
Mr. Eckels 10 described - under suspicion
Of saving acted foolishly in his official ca
psaity - comptrolier In making osten-
tsgious inspections Of national banks and
sivsns housetop orders calculated to call
tbs attention to the comptroller and his
h;xh Office.
Commenting upon Eckels' statement
tlat 1T 10 not . time Of panic, because
~ have passed the period in our history
when panic Is . possibility" the Phiia-
dc phia hess says:
''Nr. Comptroller EckeIs had better be-
~are or he viii be taken for nincompoop
III finance Who loves advertising and
k (sct n Al f.~ph
q saan and an official that his country 10
gos ne through most damaging financial
disaster. The commercial failures have
bSan OF greater volume this year than for
aisy whole year for q long period. The
iron trade is stagnans and every large in
dastry has been hushed because OF present
fissanciai peril or OF distrust of the future.
L s1der SUCH circumstances a. these when
All important official Of the government
gsss about the country making such
st.seches ~ Mr.. Eckeis did in New York
tie most charitable view Of the proceed
Ing 10 that no il making fool OF himself :"
Che Albany Epening Journal Is not more
respectful in its characterization Of Mr..
Eckels and his speech than the Philadsl.
pssia Pres. The Journal describes Eckels
aa IN obscure lawyer who treated the
bsnkers Of New York city to half-baked
ai,si incohsrsnt views Of the most superficial
kInd. Replying TO Eckels' statement that
'';Elsasters have fallen upon the speculative
Institutions in boom cities Of the West, :"
tlsa Journal says:
Poor Eckcls! A moro substantial
ceasnmunity than the city Of Denver and
tts tributary territory could scarcely have
been imagined. when the stock market in
all k>A er<. L..
l'snver Was the home OF millionaires, Of
fsaancial institutions Of substantial kind
assd . mercantile trade OF large proper
tions."
.
M Eckels 10 biuntly asked what con-
nection there has been between "specula.
tive institutions and boom cities" in the
rgas on solvent banks in New York, Buf.
faio. Chicago. Milwaukee. st. Paul, Min
neapolis. Omaha and Kansas City. The
Journal tells Mr.. Eckels that his speech
s.,ands like that Of man who had failed
Is detect tho general uncertainty and APP
psehension for the future which prevail
"not only in boom cities but throughout
ths length and breadth OF the land" The
.jasrmai closes its fierce excoriation OF Eek.
els with the following furnace blast Of con-
tempt:
What connection is there. Mr.. Eckeis.
between speculative institutions In boom
oisles' and the paralysis OF the iron indus
try Of Northern Wisconsin and Michigan
And far more important and pertinent,
&r. Eckeis. on what do you base your idea
tfat the Northeast will escape the des,ru-
tie surees of the waves Of panic2 Even
tasfore this remarkable comptroller raised
Is voice within the walls of the Union
saguc Club, the Amoskeag cotton mill oil
Manchester, y. H.. the largest in the
y prld. had decided to close down.
Hundreds of little AmosSeags through
oslt the Northeast have blown their
whistles for the last time, closed their
dsscrs. put up their shutters and turned
s!.eir operators adrift. Why are the mills.
factories, furnaces. mines and workshops
- the country without orders which might
Keep their operatives employed. Mr.
tekelsr Why are not dealers LAYING IN
ssaeir usual supply of goods--,ron, steel
cotton. wooden and hundred other vari-
esies--at this time NJ the year. as has been
I,Sual ia the past. for fall and winter trade ?
Because 81 speculative institutions in
Soon citiesr' Why no. bless your dear
3i;tle soul. Rather simply and solely be-
@anso the business interests of the land
STEW with an alarm that is aiI-ahsorbing
siie prospect OF matchmaking and the re.
,scmption of solemn Democratic Pledges on
hich the political asses. IDIOTS and
sadgeous voted Mr.. Cleveland and his
earty inlo power last Nayemt-a."