The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1893-05-20
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THE DUTY
National Banks Owe to tho United States
Controller OF tho Currency Eckcls Dincd

National Banks Owe to tho United States
Controller OF tho Currency Eckcls Dincd
In New York.
WASHINGTON, May 1.-THE directors
OF The Washington Loan and Trust Co.
gave dinner Wednesday night In hon.
or of the new controller of the currency.
Controller Eclels expressing his thanks
for the compliment, said in the course
of his speech:
1.-THE banking system which you represent
Is too great and the interests which II in.
wolves too far-reaching in their Importance
to be either lightly dealt with or hastily
acted upon 1t may be changed In tho iu-
turc under tho pressure of new necessities,
but such change will only be wrought un.
der o consideration commensurate with the
magnitude of the subject and for the betterment
of the system. 1t will not come as result of
political change, nor for the furthorance OF po-
litical desires Its strength and Its existence
must always rest in tho confidence which tho
people have In 1t, as best securing to them the
fulfilling of their wants and tho absolute snfety
OF its obligations.
1.-THE national bank, 7" he said "hns facilitated
exchange, promoted commercial transactions
and brought in close and harmonious relations
every section OF the country Born of tho exi.
gencics Of u great war, embodying many OF the
defects of the legislation of the ported,
and embarrassed by tho conflicting interests
maintain the nations credit, ii has 80 thrived
that to-day thore are in active operation g. s08
banks sea tered through the nation, capt alzed
to the amount OF s6s8, ca, ,S76 and having assets
to the amount of So 800, 0000 900, and conducted
that no point is so remote or too unmportant
to be gathered within she sweep OF the mighty
volume of its business,
But while the banking interests take to
themselves much of the credit for the results
accomplished by the national banking syatern,
it must be conceded that its great success has
arisen through tho knowledge on ths part
of the people that tho national bank Was
distinctly child Of the government and
rs SUCH through Its fostering care, af-
fcrded safety that before, under another sys-
TEN, in times less prosperous and states less
rich, was wanting Because of this / believe
that upon every national bank is placed the
moral obligation to hold itself in readiness to
assist the officers of the government In
every time Of distress in maintaining the
nations credit. l an aware that no logical
reason exists for suoh course, but
having drawn so much wealth and power to
themselves through the generous dealing of tho
government with them that the bankers of the
country can Ill afford TO place themselves in
the attitude of looking with indifference
upon the anxiety of the financial representa-
tive of the treasury, when the financial
integrity OF the government Is threatened.
"a proffer OF help from them 1T such timc,
spontaneous in character and patriotic in its
motive, will disarm Il thousand critics who are
loud in their denunciaton of it and reconcile
them to a system whichthcy charge with being
the recipient OF special privileges denied to
them"
There were present Representatives
of each of the national banks and trust
companies of Washington, several bank
officers from Baltimore, and others.