Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-10-18
BANKERS CONGRESS.
The Financial Men Of Tho C9uutly
Hold q Conference.
COMPTROLLER EcKELs'S ADDRESS


CHICAGO, Oct is.--rhe blnherP
congress, nrtanged by the worli's FAIR
auxiliary, opened at the Art Institute
this morning with an address Of well
come by Mayor Harrison, followed by
President Rhawn Of the American
BnnketS association. Thc reports OF
officers aui other routine business &C.
cupicd some time, after which Hon.
J. n. Eckuls, comptroller Of the cur
fency was introduced and delivered an
address.
COMPTROLLER ECREis's ADDRfss.
After briefly reviewing the financial
dupfussiOn through which tbs country
IL pAyuing anu the remarkable sklll
with which the bankers Of the county
had met tho unprecedented conditions,
Comptroller Eokels said, that COM
pletc permanent recovery from the
existing troublea could not be expected
until our financial laws nTO mtde TO
accord with those shat govern the
worid's trade, and until our currency
takes uniformity aud elasticity anu "our
people are rid u the peTniclous doc
Urine that money which Ia cheap and
plenty Nv n blessing and u source Of
wealth instead OF curse and cause
OF financial panic aud ultimate
poverty"
Continuing, the comptroller said:
"But II 10 said that In bringing about
y different act of financial laws, the
banking Interests mutt hold Rlooi. 1t
n n striking Illustration OF the oxtnnt
10 which unfoasoning passion and
prejudice have cfept into our politics,
that In the present emergency which
conifonls tho country the bankers are
compelled TO hesitate as 10 the advis-
ability, from standpoint Of prudence,
OF actively urgiuR the repeal Of n
measure which stands COuiossedly az
source In the largest degree Of past
disasters aud dife menace ~ future
prosperity. Surely the banking inter.
csts OF the country are vast enough
and Of sufficient inI oct TO warrant u
respectful hearing and careful c0nsid.
Grafton without aTousing passions or
pfeluuicts Of any fair minced clifton
OF the Republic. IL may be- that the
bankers are selfish, but not more 10.
venture, than men Ia other walks Of
HE, surely not more 40 than the silver
iniUfeitB which today iuveigh most
loudly against them ani yet, with Ia.
runs may read, with selfish indifier.
ence 10 the public good, not only
blocking the wheels OF legislation nj
Washington, hut unmindiul Of the
voice Of tho people aud press, are maxi
Ing the fundamental principle OF our
government, tho right Of the majority
10 conirol, n hissing and n by-gord;
that they Ia their own selfish purposes
may Ind fruition Ia legislative enact
ment that Will compel the government
TO be n special patron Of their special
production"
The comptroller went ON to say that
bank stocks were not held by bankers
aud the rich people only but were
widely distributed, and that tho bang.
ers ns their representatives were Gu,
trusted with the financial manage.
mont, and represented large number
Of people, more widely scattered, en-.
bracing more classes aud conditions OF
people and possessed Of greater aggTe.
gate wealth than any other special
Interest In tho country. Therefore
they had ght 10 be heard In behalf OF
their clients aud TO be protected from
the iuiiuenoe OF harmful laws. The
comptroller closed with reference 10
the Wisdom Of the existing banking
laws and cautioned the bankers
against tho dangers Of leaning money
for use In purely speculative enter.
prlses.
George A. Butler, New Haven,
Conn, followed with an able paper,
entitled ga Practical Plan OF Banking
aud Currency"