The Providence news. (Providence [R.I.]) 1891-1906, 1893-04-11
STATE BANKS Favored.
The President Believes in the SyS-
tenn.
WISHES A SOUND METHOD
Therefore He Wishes Eckels to be comp
troiier--Land Claims 60 be Adjusted
other Washington News, Gossip ana
Happenings.

s wAsBrNGToN, April ll.-There Is motive
back of the appointment of Mr.. Eckeis OF
Illinois 10 the comptrollership CT the cur
rency which has not yet been brought 10
the surface. In making this selection the
president acted advisedly. He had known
Mr.. Eckels for years, and thoroughly un-
aerstood his views on finances This
gentleman took an active part in the cam
paign, and in his
speeches on Financial Questions
N impressed Mr.. Cleveland that he evil
IDENTIFY put him down as the man to carry
forward his views, and those OF the Demo
cratic party, on the banking system OF the
country. The objection raised against
him by the friends of the national banking
system. that he has not been identihed
with national banks, and is, therefore, not
familiar with their interests, is rather 10
his advantage in carrying out the Demo
cratic platform utterances on this ques-
tion.
The president and his confidential
friends have been looking into the reia-
tions of the government to the banking
system of the country, and would like To
see adopted some plan going back to
State Control of Banks
under a wise and sound system, which
they believe to be practicable. The presl-
dent intends to recommend this question
TO the attention Of congress, in hopes that
some solution may be found to the prob
lem in general, and particularly that re-
peal Of the 10 per cent. tax now imposed
on state banks may result The president
had in view this idea when he selected Mr..
Eckels, he being entirely imp reJudiced
either way concerning the present national
banking system, and was ready to cooper
ate with the administration in the formu-
larion of any system which he might de-
sire to urge upon congress and which the
Democratic party may be bent upon carry
ing out.
1t will be necessary before long to make
some provisions for the banking facilities
of the country, as the present national sys-
tenn will soon expire. Therefore the presi
dent thinks that this is a
Convenient Time For Congress
90 begin the consideration of this Inn
portant work. The moment Mr.. Eckels'
nomination reached the senate inquiries
were made as TO Mr.. Eckels' antecedents,
views and experience, as he was entirely
unknown to any senator's OF either party
in that body. 1t was this fact which
1n0uce0 one OF tne lneluocrS Vi ouo hhohS'
committee to call upon Secretary Carlisle
in order to ascertain something concern
ing this appointment. The secretary wa
unable to enlighten him, as he knew moth
ing about Mr.. Eckels, the appointment
having been made by the president
The committee then proposed to loo
into the matter, and IL thinks 1t sees Il
this appointment the purpose of the pres
dent to put man at the head of thi
bureau who will conduct the business ol
lines wholly different from those whic
have prevailed hitherto. There are man
Democrats in the senate who are not will
ing to
Cooperate In Movements
looking to the overthrow of the presen
national banking system. There are noN
1000 national banks in existence, with
capital of about 700,000,000. They do nc
think it wise to disturb the financial mi
chinery of the country by any radical G
sudden departure from existing condition
Nor do they believe in placing any one &
the head of this bureau who would be II
imical in general way to the system as
noxv ctauda