The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-02
EXPERTS ON BANK FAILURES.

The New York Journal recently OBJ
tanned the views of some of the most
prominent men in the country on the
bank failures. Among those whose
views were obtained We're Mark Hanna,
". J. Bryan and Congressman Walker,
of Massachusetts,. chairman of the COM
mittee on banking and currency. They
were all asked as to their opinion of
the cause of the recent bank failures.
Mr.. Hanna gave his opinion as fol-
lows:
Il do not see how these failures
were in any way due to the recent
election.
Times have improved, but not to
the extent some people expected. Con-
ditions are all that I expected they
would be at this time"
If conditions have improved, it is
good news; hat they have not i'm
pected is no news. If conditions are
all that Mr.. Hanna expected, he ap-
parently had no great expectations.
Chairman Walker says:
Il do not think that the financial
failures in Chicago, st. Paul or any
where else had anything whatever TO
do with, or any relation to the recent
election; nor do l think hat they indi-
ate in the least degree the revival of
business or it's continued depression.
Those failures resulted from the viola
ton of the principles of sound bank
ing"
These failures may have no relation
in the world to the recent election, but
would Chairman Walker have so said
had Mr.. Bryan. instead of Major Nc
Kinley, been elected? We do not be-
lieve that he or Mr.. Hanna or any gold
standard man would have said that
they had resulted from the violation of
the principles of sound banking. On
the contrary, we believe that they all
would have charged these failures di-
rectly to the election Of Mr.. Bryan; and
they would never have ceased to harp
upon the subject. When Mr.. Walker
says tina these failures do not indi-
cate in the least degree the revival of
business, he states a gospel truth that
Will OC dCSCpIC0 ny II Tia I'LL
heather without hesitation.
Mr.. Bryan's answer as to the cause
of the bank failures was as follows:
"AlI by this time know the great
underlying principles of free silver and
the effects of the gold standard, and
all can apply their own measuring
sticks, and doubtless reach a true con-
clusion.
IF there nave been n evidences of
returning prosperity 1 have failed to
note them particularly. AS TO any
permanent prosperity without free sill
yer, the people Of h United States
will have time to decide thai point.
Let the silver men not put a stone in
the pathway of any man who will
give prosperity, but let not the camp
fires of free silver burn out"
The advice that no silver man put
any stone in the pathway of n man
who will give prosperity is patriotic
and proper. Rather let every silver
man do what he car to aid the man
who viii give prosperity, but let not
the camp fires of free silver burn out"
These bank failures are much to be
regretted, and are doubtless largely
due to improper and reckless methods
of doing business. But if now and
hen those who, during the late cam
paign, We're denounced in the strongest
terms and about whom the most
op%probrious language was used: who
were called regulators and traitors to
their country because they favored free
silver, n to the advocacy of which
all the financial ills of the country
were charged by the gold standard
men, occasionally point to the cpl
demic of bank failures and say to
their late opponents, I'VE told you So"
they should remember that free silver
people are human and that it is their
human nature hat prompts the re-
mark. They should also remember that
no n in all the country holds less
enmity towards them because of their
political differences than the silver
men. With all their hearts they hope
and ray that there may be a speedy
return to prosperity, and hat success
may crown all the efforts of the in
coming administration in behalf of the
welfare of the country.