Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-04-18
STANDS FOR GOLD.
Comptroller EckeIs Knows Ex.
actiy What He Wants.
WHERE BE Is AT" IN FINANCES.

Yellow Metal for the Standard, Redemp-
ton and Withdrawal Of Greenbaeks and
All Other Government Paper Circulation
Decisive One Way or the Other-Aliison
Boom To Bc Doomed.
CINCINNATI, April 1S.-In response to a
joint invitation from the chamber of COM
mcrce, the clearing house and the Com
mercial club, Hon. James E. Eckels,
comptroller of the currency, addressed a
fine audience Of representative business
men at the Grand Opera House last night
On finance and currency. His hearers
were not exclusively Cincinnatians- Rep
| resentative business men were present
from all neighboring cities and towns.
He was introduced by President j. D.
Hearne, of the Third National bank, and
was received with liberal applause. He
| said that owing to the oppressively hot
weather he would abbreviate his remarks
somewhat He was often applauded. He
said in part:
Single Gold Standard for Him.
II consider the first and great essential
to the return of prosperity to the Ameri.
can people the complete elimination Of
the free silver faliacy and the equally
emphatic and unc9uivocal reafiirmntion
| of our adherence to the single gold stand
| ard of value. AS q part of that work l
deem. it necessary that the outstanding
demand obligations of the government
shall ut the earliest practicable moment
be paid in gold and cancelled, and that
assurance thus be given that we have en-
tered upon an era of financicring that IS
based upon correct and sound monetcry
principles. As a contribution to all this
every note of issue to circulate rs money
should be issued by the banks, and every
bank that issues such Il note should stand
ready and capable to redeem the same in
gold upon presentation. The govern.
ment of the United States ought not to
occupy the position of being the one great
sourcc of gold supply for this and every
other nation.
Eanks Used to DO the Work.
During all the years prior to the civil
war the country's banks, without incon.
venience tn themselves and without work
ing disturbance to the business world,
supplied whatever gold was needed to
transact business at home and to settle
international balances abroad. No one
then considered 1t either the part of duty
or of wisdom for the general government
to take upon itself SO great burden.
Neither WAS the task placed upon the
treasury department after the resumption
OF specie payment until the passage of
the Sherman silver purchasing act. It
was only then transferred when it be-
came manifest that policy had been en-
tered upon-through the increasing of the
demand obligations of the government
payable in gold without n corresponding
increase in the gold rcscrve-that made
doubtful the ability of the government to
continue gold redemption.
Hopes the Fight May Ise Decisive.
Il trust that in the contest that is now
being waged between the forces of free
silver and iia;ism on the one side, and
those who take their belief in monetary
affairs from that which the world of busi-
ness and Of commerce holds to be con-
trolling principles, the outcome may be
definite and the settlement conclusive
There Is now no room for compromise or
means Of avoiding definite issue To-
day the American business world stands
eager and expcctant, prepared, If doubt
and indecision comes to an end, to set at
work forces which will make this country
again the home of new and greater pros.
perity."