Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1896-11-17
FOR BIMETALLISM
FIX. Comptroller Lacey Says An Earn
est Effort Will Re Made to
Bring 1t About.

Chicago, Nov. l7.-Es Comptroller of
sie .CSrrency E. s. Lacey, Of Chicago, ex-
presses the opinion that general revival
OF business will soon begin.
"The situation for the banks during
the campaign was one of great anxiety"
said he, 'and we breathe easier now that
the result insures return of prosperity.
l think the sudden rise in the price of
wheat had much to do with carrying the
state of Minnesota, the Dakotas, Califor-
MIA and Oregon for the Republicans. 1t
was the best argument made against the
theory that the price of silver controlled
60 to 81 bushel in the next few months
and the price of oats, corn and other
cereals will go up with it,"
"There appears to be renewal of the
demand for the retirement of greenbacks.
Do you believe it will be attempted at an
extra session of congress"
"No, think no attempt of currency
reform will be made at special session.
II is possible steps may be taken in the
direction of an international monetary
conference. That subject is coming up
in due time and will receive serious at
tention. OF course, in the east there is a
strong gold sentiment that is opposed to
an international conference. But the ef-
fort will be made to secure International
agreement just the same. 1t is due to
the sentiment in the west and middle west
that supported Mckinley upon the pledge
in the platform to promote international
bimetallism."
"The Democratic silver leaders say the
election means the retirement of green
backs and that national bank currency
will take the place. Is this true!"
"There is no reason the national banks
should not be permitted to increase their
circulation to the par value of their
bonds deposited in the treasury or even
higher where the price of the bonds re-
qulres it. Our highest priced bonds are
now quoted at 100. There is no reason
the circulation secured by such bonds
should not be increased to ITO. The cir
culation of the banks based on lower
priced bonds should be run proportion
etely. 1t seems to me that 10 per cent is
sufficient margin to secure the circula-
tion. Government bonds are a stable se-
curity. They did not go lower than ITO
uuIIuk uuo looo poulo' he W WHouAoI Hn-
tional bank notes would prove unpopu-
lar with the people depends entirely
upon the conditions of business. If
prosperity follows the electien there
would be NO serious disapprotsl of in
creasing national bank circulation. If
conditions do not improve the Republic.
an party will be defeated in 1900"
"It is the opinion that such currency
revision as you suggest would magnify
the Importance of the Office of comp
troller of the currency and probably re-
quire that it be made non-partisan Of
fee like federal judgesbip."
"The Office ought to be taken out of
politics. But whatever changes are
made in tenure, the present comptroller,
Mr.. Eckles, ought to be retained if pos.
sible. He has made fine record under
very trying conditions. Of course, he Is
not subject to removal at the close of
the administration and am certain that
were he to tender his resignation for any
sentimental reasons it would not be &C.
cepted. think the commercial interests
of the country would be pleased to see
him retained in the Office"