The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-04-10
SILVER NOW NOT A STANDARD.
IT HAS LOST ITS PLACE AS SUCH IN
THE WORLD OF COMMERCE..

All the Laws Possible of Enactment
in the Entire World Inadequate
to Restore It-COntroIIer EckeIs
Explains the Standing of the
White Metal TO MaryIand's bank
ers-A sound Money Resolution
Adopted.
Baltimore. Md, April 9-The bankers
Of Maryland to-day put themselves square,
ly on record In favor of sound money. In
a convention, with delegates represents
ing almost every bank Of any size In the
state, the following resolution was adopt
ed without a dissenting vote.
Resolved, That we are unalterably op-
posed to the free coinage Of silver, anf
TO every debasement of our currency In
whatever form II may be presented; that
we firmly and honestly believe that the
true interests of our country will be best
served by its rigid adherence 90 the gold
standard of value, the continuance OF
which VIII not only preserve it's financiaf
integrity and the future welfare OF its
citizens, from the wage-earner to the
capitalist but will insure, through the
prompt restoration Of confidence, thar
rapid development OF its sources when
Will eventually place 1t first among tho
nations of the earth.
The utmost enthusiasm prevailed when
the vote was announced as being unani-
mously in favor Of the adoption Of the
resolution.
The venerable Enoch Pratt, the Oldest
living bank president In the United States.
stepped forward from his seat on the
platform and after proposine threa chae1s
ana a tiger. led in the buulaaffr
onstration Approval was marked upon
every bank presidents or cashiers face
as ne yociterously cheered the decision.
Another feature OF the afternoon session
was the speech Of the Hon. James III
Eckels. controller Of the currency who
made one OF the strongest arguments in
IdVof OF sound money ever heard In bank
ing circles His statement that "silver.
metal has passed from the world OF COM
merce as a standard Of value and all the
laws possible OF enactment IN the world
cannot reinstate It," was wildly applaud
ed.
1t was the first convention of the Mary
lahd bankers Association, organized to
promote the general welfare and useful
ness of banks and banking Institutions.
The meeting. was called to order by the
veteran banker, J. Thomas Smith, and
prayer was offered by the Rev. J. Hous-
ton Eccleston, ID. ID. After Gen. William
Mckinney Of the, centerville National
sank was elected temporary chairman
and several addresses OF welcome had
been made. c. G. Homer, president of the
Second National Bank, and the chairman
on the Baltimore plan for a national cur
rency system, which was approved by the
American Bankers Association two years
ago, stepped on the pla tform and preceded
the Offering of the foregoing resolution
with a short address.
The reading of the resolution cut loose
burst Of enthusiasm. Before 1t had sub
sided, Charles Il. Crane. cashier OF the
Farmers and Merchants National Bank,
sprang on the platform and began vlgor-
Gus endorsement OF the resolution Ha
went beyond IL and recommended that tho
bankers encourage such legislation az
would remove from the statute books the
laws for the purchase by the government
OF a certain amount OF silver each year.
1t was intended that Controller Eckels
should address the convention before the
resolution was put to vote, but there was
such a crying demand for "question" that
the chairman put IL, and with one voice
the convention answered AYE" Then 1t
was that the nestor OF Baltimore banking
ing with a tiger