Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-19
THE BANK MEN.
tr,B ATTRACTION YESTERDAY
COMPTROLLER ECI<ELs.
ADDRESS BY MR. JNO. P. BRANCH.
mis- Richmond Gentleman ON the
legislation That Is Needed with
sion on tho Subject Advocated.

scar attraction at fO-day's session or the
bankers convention was Comptroller
Ickols. At the conclusion Of his address,
De was surrounded by more than score
of members, who pressed forward to
congratulate him and shake his hand
A vote Of thanks was unanimously given
the young Comptroller for his speech.
While Mr.. Eckels was speaking, stand
ing-room was hardly 10 be had In the
theatre. but as soon as he had finished
the audience rapidly dwindled, leaving
such a wide expanse Of empty seats that
most OF the addresses remaining on the
programme were put over until to-moE-
row morning This makes the list Of
papers for the final day Of the conven-
tion a very long one. and as a trip to
the distinery Of Hiram Walker & Sons,
AT Walkeryille. ont, IS scheduled for 1
o'clock tomorrow, 1t will keep tho dele
gates busy TO dispose Of all their busi-
ness.
Tho list OF new officers will be sub
mitted in the morning by tho Committee
on Nominations. Joseph c. Hendrix still
appears to be the unanimous choice for
president with Frank w. Tracey, Of
Springfield. H., and George II. Russell
of Detroit. apparently about even for
first vicc-president
In spite Of The rainy and somewhat
cold weather, the delegates boarded the
steamer Pleasure and Promise, late this
evening. and steamed up the river and
across Lake ST. Clair An elaborate
1.tr ha
tertainmeut Committee, ana the party
did not reach the dock again until well
toward midnight.
,rbe naming of the Committee on Nom-
nations was tho first business trahsac'eu
this morning. 1900.
a representative from each state was
then called on to give brief statement
as TO the general condition OF business
IN his locality.
BUSINESS IMPROVEMENT.
This drew forth. I'm every instance, re-
ports of good crops. reviving business
and encouraging prospects Tor pahkeIs'
Marked improvement in business cohul-
tlons and indications for better thlhgs
I'm the future. were the characteristic
features of all the state reports, as de-
tailed by the delegates.
Henry w Yates. of Nebraska, sald the
golden grain of the ripened and ripening
harvests In his state did not reflect the
calamity tint TO which the utterances Oh
so many OF it's public men and the vote
az the state last fan had seemed TO con-
sent.
John ". Faxon. OF Chattanooga, Tenn,
derided Mr. Bryan's claim That the pIice
OF silver controls the price OF wheat, ana
said the recent fall of the one and the
rise Of the other offered conclusive PIoOL
Of the falsity Of that claim.
only a few of the States failed 10 re- |
epond with q statement of improved con- |
ditons ..,., |
when Comptroller Eckels came forward
he was greeted with q most generous |
round of applause Throughout the ieau-
ing of his address, which was on ~ In-
Need of Currency Legislation,' the large |
audience gave him careful attention
Interesting discussions Of practlch
banking question followed John H.
Ieatbers of Louisville, read an interest
ing paper. .,5o.4 os tho
Merchants National Bank Rlchinoohu
Va. in discussing the question: "n"S n"o
LEGISLATION is Needed in Respect TO inc
Cuirency." said:
ADDRESS OF MR.. BRANCH.
Mr. president and Gentlemen,-l am in |
.,ifed 10 suggest what legislation -
needed in respect TO the currency
a. Iest Nothing short OF the best VIII |
serve tie higher and larger interests oil
It's value should be fixed and stable.
IL should be adequate 10 the hecds OF |
the country. .. .,,.o |
matcally. ..tc,
IL should be so distributed throughout |
our territory that every man enuJled 10 |
credit should be able TO obtain lts use
81 fair rate. .....,,,,- ,c |
attainment II We approach the consldera-
tiOn OF the subject with the deleIIhlhd
tion 10 overcome all preJudlces, 10 forget |
am petty interests. fully resolved, ih spllo
of difficulties. 10 give the country per-
feet medium OF exchange.
The ignorance which surrounds the cur
rency question is profound
10 reform our currency we must under
take and push TO successlul issue an
educational campaign, baslng our lhstIuC-
ti0n upon a broad foundation OF IecuS
nized economic principles, already cleaIly
demonstrated by the banking experience
Of the world.
We must not allow ourselves to be dis
couraged by the vastness OF our under
The interests Of the people and the
me currency is the vital commercial |
uuestion of the day. and upon the an
Bwer OF the American people much de-
pends
/ believe that answer VIII De wise.
believe good sense and sound judgment
will prevail; but there is danger IN delay.
MEANING or WORD DOLLAR"
What is the value Of our unit? Perma-
ucnt prosperity cannot be ours while the
value Of our unit is open 10 doubt Ii is
essential we should define. once for all
the meaning of the word dollar is u
gold dollar "a silver dollar. Treasury
note a grceuback. natiOna-bank nOteY
The question must be answered. Each
OF htsc dollars has "a different Intrinsic
value. Credit to-day keeps them at par
We know the value Of an English SOW
orcign, q French franc. or German
DAT mark In an eAc9srges they stand Tor
The value of their unit fxed-ours un-
rertain-England, France. and Germany
nave prospered. while we have labored
under the shadow OF a deep distrust.
We have lost valuable time
We must define the word dollar. and IL
should mean beyond Icr0dycnture OF
doubt. a gold dollar OF the present weight
md hneness Of the United States gold
coin. That dollar Is good for all and
everywhere commands respect.
The paper currency Of England France, |
ana Germany IS bank notes not govern
ment notes. They keep their revenues on
deposit IN their great chartered banks.
There is twOiOld advantage IN this. The
money of the people. lying TO the credit !
Of the government I'm bank is available
for the use or the people, not idle and
unproductYe. as IN the case OF this cOun-
try, where h lies in government vaults. !
We borrow largely abroad. II the govern
ment money were available. we could cur
tail our foreign loans 10 that extent
the soivency OF the government should
never be In doubt With government