Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1895-05-09
ECKEL'S SPEECH.
The Comptroller Talks OF Our
Monetary System.
The REVOLUTIONARY PROPAGANDA,
Il ID, Mr.. Ecksls Says, Silver fiatism Pure
and Simpls-The People Must Be
Educated on the Money
Question.

DETROIT, Mich, May a-Upward OF
ESQ leading business men of Detroit
with their guests Of the evening en-
joyed the banquet given at the Hotel
Cadillac last night in celebration OF the
completion and dedication Of the new
Detroit chamber Of commerce. The
principal address Of the evening was
made by Comptroller Of the Currency
Eckels, in response to the toast Cur
rency," as follows:
ut is impossible within the brief
limits OF conventional after dinner
address to more than touch upon the
sentiment which has just been an
nounced, and to which l am asked to
respond. l shall, therefore, content
myself with giving expression to such
general views as seem to me to be per-
tinent TO a single phase Of the cur
rency question, as 1t to-day engages
public thought and commands the pso-
ple's attention. am sure all will
agree that 1t Is the most impor-
tant problem with which the
executive and legislative branches
Of the government have now
to deal, and as such, demands
that there be brought to bear to Its
solution craftsmanship as wise Is 10
Is patriotic, and as honest as IL is wise.
Its discussion has been precipitated at
a time when the country Is emerging
from period Of financial and COM
mercial depression, widespread and Of
long continued duration. 1t finds
every avenue Of trade giving evidence
Of renewed activity; mill and factory
again In operation and agriculture
promising to those engaged in its pur-
suit abundant harvests and appreci-
ating prices. 1t presses itself upon
the laborer now no longer idle,
but busy with the employment
which has come with the settlement Of
questions which have long vexed the
public mind, and after ample demon
stration Of the ability Of the govern
ment to maintain untainted the public
faith and the nations credit II under
such circumstances the cause Of those
who stand against the schemes pro
posed to rid by means Of law a people
from making proper payments OF Their
just debts, and give them riches
through Legislative action cannot
be sustained, the experience Of
all monetary history will be re
versed. II this contest shall
end otherwise than in the triumph o.
that which is right in theory and sount
in principle it will be because thu
American people have lost much o
that good sense and honesty which {
great writer declared, though some
times permitting an agitation for some
thing wrong and mischievous, always
when the danger point is reached
brings forth mass Of opinion, which
though ordinarily quiescent, at sucf
time forces itself into activity, put!
down the wrong thing and perempto
rily demands the right thing instead.
~ believe we have come to a point
In this discussion of our monetary sys
TEN and agitation for complete
change In our standard Of value whel
this mass Of opinion should not only
be aroused, but should make itself ar
active force In putting an end to thu
currency vagaries Of which the fre'
silver movement as to-day presented Il
the elimination II commercial ant
industrial revival is to continue
recurring loss to every citizel
to be prevented; national and in
dividual financial credit and integrit.
maintained and ultimate disaster avert
ed, there must be no longer spirit o
hesitation in those who know the bane
full effects Of the thing proposed. Their
can be no political ends to be served
no party considerations to be advanced
Of sufficient import to warrant an,
man in long debating as to the position
he should take when the financial hon
or OF our country Is at stake and tn
prosperity ofa great people threatened
"The American people cannot to
quickly recognize that they are in tn
midst OF a propaganda, skillfully an
zealously being carried on with tn
end in view Of revolutionizing tn
country's existing monetary system
Those who now direct the free silve
Idea, map out the policy Of Its advt
Gates, and control their action, hav
ceased playing with words and pu
from them the professions whic
heretofore have characterized the
utterances when urging the caus
for which they have stood. The
demand to-day, interpreted in tn
light OF their acts, is that the Unite
States shall at once abandon its pre-
ent standard OF value and substtut
therefor, irrespective and without til
cooperation Of any other country,
single silver standard. Nowhere is
suggested by the sponsors for tn
latest tenet in the silver creed, that tn
nation shall even undertake to maintai
at home double standard. Nowhel
is there promise given Of an atteml
through international agreement
make every dollar Of silver which sha
be coined the equal in value Of ever
dollar Of gold which comes from II
mint and fairly interchangeable ther
with. They no longer give recognitic
to the fact, attested by every monetai
union formed and conference held, thi
no nation can Isolate itself from thol
with which 1t has commercial dealing
and maintain independent Of them
distinctive standard Of value. 1t is III
even designed that the dollar coins
shall approach in intrinsic value Il
value which It purports to carry, b
instead q ratio shall exist betwet
coins Of the same denomination whit
is patiently incorrect and untrue. II
position which they now assume Of n
oessity eliminates from their ranks
who heretofore have struggled to bril-
about a larger use Of silver In u
eounky's currency at an