The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-19
MOT A TIME OF PANIC.'
lovF4ROILER ECKELs sPEARs ON
THE FTNANCIAL SfTUdTIOy
Al Dinner Given to His Predecessor.
Undue Speculation and Unwise Legis-
lsiion tho Cause Of the stringoncy.


NEW YORK. July lS.-Comptrollcr OF
..,. r.r,cs IL rcloie ,,,,s a
80 ffe predecessor ex-Comptrouar
..,.,-, ot, di-oo- o.. ,,,, r-,,,.,
A. "' ''.i
League club this evening The affair
.4ef.afel by thc distinguished diners 10
,...lv social affair. given as a com
49,. ...... ..,.........,,.. .-.,
I'". '''' '0'
t.e purpose OF thaDlhB MN 10 meet
..e YO.k bankers.
...-i-,. ~ On ,,,,.,. - .,.. ia
4''
ug l.tHcitIa OK tle country az tils par
..ar time. and jhe presence i'm this
The corntroli.r ~ the Curropcv
-''
..i.' Hi'D" "'''"'''N' an" the meet
Is t."een Mr. Lchrls ana ne bankers
H.s i--iiArd more as conference on
one MON lofy SITUATION ana the prospec-
uFc measures loi ls IelcI than Tor q
I.fej social gathering.
President George O.. Williams OF the
Chemical National Bank and president OF
tHe DIearlLF House Association, presided.
Besides - gentlemen named there were
present Charles %. Preston, supcrinten-
llt ol New York Ststc banks. and
murr Of presidents Of New ork Ma
tyaal banks.
Ar Williams made a short speech in
reducing AIR Eckels, who spoke as fol-
.'"s.
Comptroller EckeIs on Failures
Comptroller Tckale I'm roenooso 10 a
f.,y ,,..r.ls of ,toI0.n,,a from his host ev
Comotrouer urnlurn said.
acputlI fn. invitation 10 be Drcsent
fhie a..rIor that ulgbf indutge ,pveolf
Boz tine t.r..raf Measure or meeting tine
,..--..'',.ti,.... ~ ,I. CROFT 0,,.r.iet a.
s.trti.r. I'm ,oIr cif- I did moi rber
r.r ID, noy, ioflrd to mako . for,,,,i
address Iuf tb.r. .re ono or two tbincs
t.,+ mas ,.t la f,,..,.,,,.,.,i.,. e.. .t
..... .r ..s..., ''V
,rb. r.,.li,i.r ,,.ii..t ,,,,fr,.,,.. .t,.. A..
r.fu u.opl, IS one tbat deser,..e tho
f.ouenffui attention of e,orv citi1on y,ho
In. ID heart the interests ~ the co,,,tr,,
Tfierot "a lime of manic because y.e b,,o
r....Ifne neri,d t, o,,r ,,t.,..,. -,
l..i. te , t...u.ut... t
..,.. I,.,..,.f..,i.. .i. ...tt %. s'il Oi
.I.fl.n and ,,n,ie. e,,,oia, ,',-t"i,i,''
>.hlrr ls to ba o,fned t,, tai,i,,1,
f..rht rn.f b. -. .,,..rr,rt.d t.,, oiti,., a." "
i..ralf.t... mast .r tt.. i,,,,aii.t '''0
r.... ti.. ,''''''''''@,' i",ue'
f.. midst of tba C,pur.s ~ - Wv, - ~
..rrad is mot 90 Give ,,s,, -, MI, ~.
alarm but to studv tbe cbsrscter ,S ,t,
...imf.ns which have farnl r,o. -.
....l.s t,.. .,.t.t. o. 49,. ' ''. i'
.t .,,d, ''"' ".. ~, '" Ai'eI
......t,,ti..,.. ,..', 'n. S"i''"t
.. ..,.l...t,.., +t.. ''o'' 'n,, an" |
I.o, fs t..t tt, fao,+t,.- ','S' ',''' 'D'
t. b. rot tbr.,te,'3 t.', ,.. ,,' ooul, i,,
..,.. o.t ~ 1,, -. .,..g W."
.t,..r.r t,r - .-,-,., 'u, ii''. 'ne
r. .....,,stiro t.,,i..'..' ...,,., '''' ~,
.,.. l... f, ,' '"r la"-
.....- ,t.... nl ~, '''',' D"nAlns OF
i'"'9 ''" "tihiuS at any ana am
i .'''- ''''' nN' must lueFllably
.i.t ,l'1' wa" engage lh
mas S"py
I... ..... .'..,i I'm, D,'''N'' "e-
..l.l.'S M'ah' o'heIs
.. "i "IF-
"' Sp'' uid-
.iHe west ana in portions
..' "t mas hol as yei
"laNI"b sohleihlhs out
' cue ,.i"I,le' VINO STAKES
.. v.'""lt Sl.y' reaching out
I,...t.. va '"e cdIu' must
'' i"iu on ms own ana KIN
"nl0n nave trusted lh
'"'" 4"i'" 10 assets yet
nave lailen upo1 the specula-
'"s ln Doom cities OF the
""shington California. Colo
N'.sis and Missouri. which have
..-."'A H'INtHt ones, but the
'l Ncw England and the East
"' ,He Middle States and those of the
NOT less than those Of the
nave mus far escaped, because
'.'"'dIi'n upon which they are
ia "I Iock ana not Of sand.
''." review as that which ] have in
ti,l cannot but have the effect Of
t..'Ns 'ne fears Of the timid and en-
'ia-Ins hose who have thus far main
.'.nfI 600 unswerving faith I'm .Ae speedy
,'''t "i beiler times.
''."t 10 chcck those who invite di-
....,. ~i'"u'""lhs from solvent in I
,.- . '.c n,,ney "hlch the deposi-
h..t.. ro,'l"iy "s,. inc people are
"'1 "oNl'b h"ch from the banks
3D. '""u5' IN TURN the banks nave ,
-I '' 'u".t' t''ia'e treatment from
l0'iig' Lvl '"'se VINO nave so long
i......'.t s'si"'SS WIN the banking
th.,, 49, -. l,, .oi'uehce lh
.-. "''," anu I,el 'nat II in years ]
.n..r, ,' ~, .- d. t.o',u sa.e ln-y are
.'.F I'D DO SO ln the present emergency