The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-09-30
OHIO ANKERS.
Comptroller Eckles Gives Their
Snap Away
In HIS SPEECH AT TOLEDO.
Ho Says Banks Are Run For Pi oft, an
Admission which No Philan-
thropic (?) Banker Has
Ever Conceded.

The Ohio Bankers association re-
Gently met at Toledo and went through
the usual performances on such occa-
sions. Essays we're read and addresses
made, interspersed with banquets,
toasts, free rides by land and water,
etc., etc.
After jollying each other and being
iollied by others, the association elect
ed officers, passed a string of resolu.
tions and adjourned to meet next year
to crack few more cold bottles and
see what could be done in the interest
Of the Woodworking banker.
Comptroller Eokles, in one Of his re-
ports, makes the astonishing state
nsent that Banks are not eleemosy-
nary institutions, and, therefore en-
gage only in that whicA promises a
margin Of profit" A team of oxen
could not drag such an admission out
of banker, for Is it not well known
that they are engaged in the business
purely for the accommodation Of the
vaults, they receive one mans money,
which they loan to another at just sufi-
cient to cover the margin of expense
connected with its handling, and are
always prepared to return 1t to the
first man, except at times of stress and
on occasions when he is most in need
Of It, when in the interest Of the pub
lie generally and in order that he may
not squander it, they give him their
notes in the form of clearing house
certificates. In line with this well
known policy of bankers to always
interests of the public, the Ohio Bank
ers' association, before adjourning,
passed some resolutions that require
attention in order that the great un-
tutored masses may know what their
good financial guardians think should
be done for the'aforesaid G. U. NJ.
First, the Ohio bankers believe in
the maintenance of a dollar that shall
be acceptable as such in the commerce
of the world, and in a wise and Judi
cious reform Of the currency system
OF the country, and favor the appoint
ment of a committee to consider this
question. Just what is the matter with
the currency Of the country the bank
ers fail to state but, doubtless, It is
that there is too little of it, and what
there is is too easily cornered and
locked up by the New York manipula-
tors when they deem it proper to
squeeze the people.
The last suggestion may not have
been considered one Of weight, but the
first, that there is not enough cur
rency, evidently was, for in another
resolution these bankers resolve, THAT
we most respectfully declare it to be
orr opinion that it would benefit the
of the country, as well as the
national banks, If the government
would issue to the said national banks
circulating notes to the par value of
the bonds deposited to secure their cir
culating notes"
There is a becoming modesty about
this resolution that shows the Ohio
bankers to be made OF the right stuff.
"They most respectfully declare II to
be their opinion" etc. Nothing arro-
giant or dogmatic about that, but hav-
ing the good of the country at heart
they submit the suggestion that the
banks ought to be allowed to issue
more currency to loan at s per cent per
annum to all who have approved col
lateral. AS the banks have to be run
anyhow, the extra labor, trouble and
risk Of supplying the people with 10 per
cent more funds at high i'm rest would
be undertaken il congress should see
fit to authorize them to do it.
The next resolution adds strength
and conclusiVeness to the assertion
that the Ohio bankers are not only
public benefactors, but are we'll versed
and intelligent gentlemen who are
thoroughly au courant with the legis-
lation of their country. It reads in
this wise: Resolved, That they ap-
prove of the act of congress which de-
clares it to be the duty of the general
government to maintain on a parity
of gold all the money issued by the au-
thority Of any law of congress-"
Some may cavil with this and assert
that there is no such act of congress;
that while congress has done many
other things, 1t has not done that; but
to these 1t is only necessary to reply
that the st. Louis convention which
Mckinley declared "All our
silver and paper currency must be
maintained at parity with gold" and
Mark Hanna has discovered what the
bankers and others have long believed,
viz, that the Lord is a Republican.
This being true, the declarations OF the
Republicans are the revelations Of
Providence. A certain school OF phil
osophers teach that whatever Is 30 be,
is," so the bankers of Ohio are justi-
fed in speaking of something which
congress has never done, but which the
Republican party has pledged it will do
as IAN act OF congress-"
The remaining resolution stands,
however, without an equal, both for Its
depth of sentiment, clearness of ex-
preston and beauty diction. It is:
Resolved. That we declare that con-