The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-19

review OF the currency legislation OF the
United States for third OF century
demonstrates how few, If any, politicians
in the historians sense have had 70 90
with it. In all its range evidence Is
everywhere 20 be had Of disregard OF
the underlying principles OF pohucal
economy and a woeful ignorance OF the
facts of monetary history. An analysis
of its parts bears testimony TO the truth
Of the assertion. A consideration o. the
whole places ne yond cavil. Tha. which
we term our currency system . one IL.
name only. II lacks every cement o.
what rightfully can be called system
1t violates in every essential feature VIVA.
in all other departments OF governments
affairs We denominate system. Il Is
not an orderly combination OF parts iii'o
| a whole. according to some rational prin-
cipIe or organic idea. Everywhere mere
is want Of unity, and instead OF present
| ing 10 the world financial completeness
;. axbirits i+seIs "a work Of shreds anu
| patches
In conclusion, Mr.. Eckels said:
| az. myself. have never in the past
wavered in the belief, nor do nov, mat
|
ing and currency system SO strong as ~
make impregnaole the countrys credit
It's coming may be long delayed anu oii4y
no attained after a tremendous loss 10
canital and injury 20 labor. IL was the
r,ssarv and distress entailed by the as
signats and mandates OF the french rev :
| olution that placed France upon me soi-
ia rock of sound finane. II look the
threatened starvation OF the peasan'ry
| Of a great nation 10 wipe out the COZ Il
laws Of England, but the VICTORY "heh
obtained was complete. And mus IN
conformity with the course OF history
it is possible that before the nauon
financial structure rests upon founod-
| ton firm as the eternal Nils, lhe
American people will be called upon 10
mass through an awful experience ana
loss which would follow in the wake OF
unchecked paper and silver fiatism- bu'
at last, no matter how prolonged the
struggle or great the suffering, with the
acoIriescence of all, the monetary prlncl-
niles which accord the worlds business
experience, all financial research, and
every dictate OF common honesty VII
here prevail in complete and enduring
triumph"
Interesting discussions OF praccca
banking questions followed Mr.. EcKeis
address. 'Ts Credit Bureau or Bureau
of Information TO Prevent Loss from
Rad eDbts Possible Among Banks
nv John H. feathers of Louisville, Ny
MR.. BRANCH'S VIEWS.
John P. Branch, president Of the Mer
chants ational bank, Richmond. va, II
discussing the question. "NWhat Legs
Yation is Needed in Respect to the Cur
rency," said:
at maintain that our currency snoul'
he the best. Nothing short OF the pes
will serve the higher and larger interest
O, our country. Its value should De NIX
, ed and stable II should be adequate L
!, me needs of the country. II should ex
, nand and contract automatically. l
should be simple and uniform. 1t shoul
he So distributed throughout our terri
: tory that every man entitled to creol
c should be able to obtain its use TAI
v rate.
Y "a competent non-partisan currenc
q commissions should be appointed and,
e seems to me, they should advocate
: 81. The final adoption Of the gold stan
dard.
: so The gradual cancellation OF govern
nent demand notes said cancellation
: be not faster than new currency is issue
nv the banks; the deposit of governmef
( revenues in the banks of the countr
= and the retirement of the governmer
from the banking business.
"3 There should be repeal OF the "a
on the circulation Of banks and thereD
make possible the issue Of currenc
!, which will expand and contract au'oma
. ,cally with the needs fthe country; sal
currency TO be under the supervision
n our national government and to be su
> rounded by ample, practical and efflclei
], safeguards.
J. eff the currency commission does n
d solve the problem and guide the people
l. demand currency reform based ON etc
" nal principles, it is my solemn con'
is ton that, with the inevitable return
h. hard times. the people will solve the que
I'd ton for themselves, and free silver ma
be the least of our evils
N committee will be appointed 20 tai
c. action on the suggestions embodied
Colonel Branch's paper and report a. :!
," next meeting OF the association
. The hour was late when Colon
. Branch finished speaking, and so mar
- had left the hall that President 10"
a suggested the deferment OF all me
- manning addresses until tomorrow NOR
,rg when the convention will be call
"a n order a. o'clock. Accordingly, Z
h. first paper 10 be read tomorrow VIII
& tina tot Myron T. Herrick, president
a the Society to- Savings, at CleVeian
do Ohio. on Savings Banks.
On At . o'clock the convention adjourn
be until tomorrow morning
ch The delegates this afternoon ENJOY
m the hospitality Of the Michigan Cent
on railroad. who rendered them a =
10. around the city on their loop line
n RAsufsit Station. where boats were ia
re en- up the river 20 8. Clair Fla's.
k THE TRUST COMPANY.
ne Da--,it Aug. lS.-The first amt
~ meeting OF the Trust section % the Ba
- e-s' association was he'd a; the no
IN Cadillac This morning. Henry VI. De-
~ srt Of Philadelphia. chairman o. The $
. ton. spoke OF the Importance q
~ trus, company ana the diversified IN;
- es,s they represented. Incomplete
turns showed ma: the capital stock
"A the .rus, companies in The United S;a
"a. Vas 1924 go ool. NJ. Deche-t alluded
,o- the trus. companies that had 0@en
.,v sanizad By scheming men