New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-10
ALL FOR SOUND MONEY.
THE BANKERS OF MARYLAND DO NOT
DODGE THE ISSUE
A GOLD STANDARD RESOLUTION UNANIMOUSLY
ADOPTED AMID GREAT ENTHUsIAsM-A
VIGOROUS SPEECH BY CONTROLLER

to-day put themselves squarely on record IN id'or
OF sound money. In a convention, with delegates
representing almost every bank Of any size In the
State. the following resolution was adopted with
out dissenting vote:
Resolved. That we unaterably opposed to
OF our currency in whatsoever form 1t may be pre-.
sented that firmly and honestly believe that
served by its rigid adherence to the gold standard
OF value. the continuance OF which Will not only
fare OF It's citizens. from the wase-earner to the
capitalist. but will insure through the p10mpi
OF its resources WHICH will eventually place II first
among the nations OF the earth
The utmost enthusiasm prevailed when the
vote was announced being unanimously In
favor OF adoption. Enoch Pratt. the Oldest liv-
ing bank president in the United States, stepped
forward from his seat on the platform. and aiter
proposing three cheers and tiger, led In the
enthusiastic demonstration. Approval was mani
tested on every bank presidents or cashiers
face as he vociferously cheered the decision.
NO FREE SILVER FOR THEM.
Another feature Of the afternoon session was
the speech OF James II. Eckels Controller OF the
Currency, who made one Of the strongest argu-
nents in favor of sound money ever heard IN
banking circles. His statement that silver
metal has passed from the world OF commerce as
a standard Of value. and all the laws possible
OF enactment In the world cannot reinstate 1t,
was wildly applauded.
II was the first convention Of the Maryland
Bankers Association. organized to promote the
general welfare ani usefulness of banks ana
banking institutions. The meeting was called
TO order by the veteran banker. j. Thomas
Smith. and prayer was offered by the Rev. DR.. j.
Houston Eccleston General William Mckenney
Of the Centrcville National Bank. was elected
Temporary chairman. and several addresses OF
welcome were made c. c. Homer, president OF
the Second National Bank. and the chairman
Of the Committee on the baltimore Pan lot
National currency system. which was approved
by the American Bankers Association two years
aeo stenned on the platform and offered the
resolution given above
Tho reading OF the resolution let loose burst
q, enthusiasm before It had subsided Charles
r. Gran. cashier Of the Farmers and Merchants
National Bank. sprang on the PLATFORM anu
hogan a vigorous Endorsement OF the resolution
He went beyond It, and recommended tnat the
bankers encourage such legislation as would
ror,o,. from, the statute books the laws for the
nurchase by the Government OF certain amount
OF silver each year.
7, vvss intended tnat Controller Eckels should
.ddress the convention before the resolution
was nut TO a vote. but there was such demand
,or "ouestlon" that the chairman put 1t. ana
With on. voice the convention answered aye.
CONTROLLER EcKELss ADDRESS.
Controller Eckels thanked the convention ior
ts cordial welcome and briefly sketched the
c,cnen,s o. good likely to accrue from the forma-
ton OF the Maryland Bankers Assocla''on
He continued In part as follows:
II we are to maintain commercial relations win
the greatest p, ople OF world and II our products
orc 70 be sold TO them and we are to secure prod-
ucts from them, we must have as standard OF
,,oiue M, that which :he law says is standard OF
yoiue snplv but we must have as a standard OF
vaIus that which the commercial world recognizes
as the only standard Of value tAppiause) Inc nat
NJ the Government Is one thing actual Vaiue' as
,,,,oved ~ by the commercial world. Is another.
and IN all the contests which have been witnessea
from the first day that the frat medium OF exchahse
was invented until the present. the commercial
world has been Indifferent to what the law has said
,d has Ind as its sole rule and guide the value OF
the thing which Is used as n standard OF Vaiue
and medium OF exchange. and the record OF the
commercial world from the first day until the pres
ont time is that article has ever been useu LOT
,rs1,uu Of exchange beyond the time when. as
an article of commerce. II also had the same Naiue
that II had as an article Of money. Npplause)
cuvar metal has passed from the world or COM
,nerce as a standard OF value. because the COM
mcrcal world has set it, seal OF condemnation upon
IL and all the laws placed upon the statute pooK III
vashington or I'm Westminster in Berlin or In
Paris cannot reinstate IT, tApplause) Ihe Sill
cor neopIe in this contest will be beaten. though
the struggle may be prolonged one ana may be
an extensive one. Expensive. because the very
fac, that here and at home serious suspicion that
the standard of value which has been so long In
vogue shall be changed. Is sufficient OF itsef 70
work the greatest narm To the business world. IL
will be beaten because there never has yet been
contcs, before the American people upon any great
question. whether IL was question OF morals or
question of money. but that. at the critical tlme
no matter how far the error may seem TO nlie haTe
asserted Itself. and the light thing always prevailed
Appausc)
FRBE sIT.VERS DEFEAT CERTAIN.
And 8, in this contest Those who believe m the
standard OF value comport!ng with that OF every
other great people: those who believe IN a dohar
that. without the fiat OF the Government. Is worth
an. hundred cants: those who believe that the end
and duty OF government Is not to undertake TO
create money but simply to put the stamp upon
that which the commercial world recognizes as
moncv-when those who believe In that thing pre-
gen, their Views lntellgenty to the great body Of
tho people who either Indifferent or ignorant OF
the basis upon which the argument Tor sound money
rests. you VIII see that the sver cloud wn,ch hanSs
grccnback cloud. which was as threatening-yes,
more portenous than this because IL was OF itseli
s,rong enough to pass both houses OF the Legis-
iature and only found Its death In the heroic act OF
President Grant. (Appause) .
the American Congress at the same period CAP,
And IL American people VIII
never send 10 Washington, indorsed by the vote OF
The pcople sufficient to elect. President who would
e,ve ofHclal sanction to such an act Applause)
The convention adopted a constitution and by
laws elected officers and adjourned to the Hotel
Rennert for a banquet Governor Lowndes
Wavor Hooper. Controller Eckes. William NJ.
cingerv and others made addresses on finance
and In favor OF sound money.
A SVINDLER OF WOMEN CONVICTED.
Detroit. April Slate yesterday afternoon Frank
C. harrington. formerly Of st. Paul Chicago and
Delray a suburb OF this city. but now OF New-fork
Cttv. was convicted by jury in the United States
nstr,c, Court OF using the mails to defraud Far
In nearly State