The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-04-10
Maryland Bankers Declare for a
Gold Standard.
AGAINST FREE COINAGE
Meeting Of Bankers Associa-
tion in Baltimore.
CONTROLLER ECKLEs' ADDRESS
Declares that the American People
Will Never Place a Man Who
Favors Silver in the Pres
idential Chair,

Baltimore, Md, April 9.-The Mary
Bankers Association met here this af-
ternoon about one hundred and fifty
delegates from various parts Of the
State being present. The session will
last until tomorrow night, including
a banquet at the Rennert tonight. The
most important action OF the conven-
tion was the adoption Of a resolution
in favor Of single standard for the
National currency and against free
coinage of silver.
Among those who are in attendance
are James II. Ecldes, United States
Controller of the Currency; ex-Con-
troller A. b. Hepburn, of New York;
ex-Controller II. w. Cannon. of New
York; Il. H. Pullen, OF New York,
President OF the American Bankers
Association; VIM, M. Singerly, PresiA
dent Of the Chestnut National Bank;
Caldwell Hardy, President Virginia
Bankers Association, and r, T.. Rush
ton, President Pennsylvania Bankers
Association,
The resolution adopted read;
Resolved, That we are unalterably
opposed to the free coinage of silver
and to every debasement of our curren-
cy, in whatsoever form it may be pre-
sented; that we firmly and honestly
believe, that the true interests Of our
country win be best served by it's rigid
adherence to the gold standard of
value, the continuance of which will
not only preserve its financial integrity
and the future welfare of it's citizens,
from the wage Garner to the capitalist,
but will insure, through the prompt
restoration of confidence, that rapid
development Of its resources, which
will eventually place it first among
the commercial nations Of the earth"
Controller Eckles, was then intro
duced and in a brief speech compli-
mented the bankers of Maryland upon
the conservative position they bad
always taken upon questions of Nation
al finance, He pronounced the resolu-
tion which the convention had just
adopted as being one Of the best texts
he had ever spoken to, and unqualified
ly endorsed every word of it.
Among other things he said: This
country ought TO have the highest and
best monetary system the world
knows of, or else it should cease to
claim to be the home of the most pro
gressive people in the world. We must
have, as a standar Of value, not only
that which the laws fix as a standard
of value, but that which the CONNER
cial world fixes as such standard. The
silver metal has ceased to be stand
ard of value because the commercial
world has so decreed and all the laws
in all the world could not restore it
until the commercial laws did so. No
people here elsewhere, need delude
themselves into the belief that double
standard of value win ever again be set
up by a civilized nation or by interna-
tional agreement"
The speaker reviewed the history OF
the silver movemnt and said that its
advocates were once strong enough to
get bill through both houses of Con-
gress, but that President Grant had
vetoed it.
THE silver people viii never again"
said he, "get another such bill through
both houses, and if they do, the Amer
ican people viii never place a man in
the presidential chair who would per
nit such a measure to become a law"