The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-08-19

DETROIT. Aug. H--The announcement
that Comptroller OF the Currency Eckels
would make az address drew 10 this
morning session Of the bankers C0nTeH-
uon al audience unusually large. The
foA OF states was then called. and from
eacn state q member OF the nominating
committee was named This committee
viii meet at . clock tomorrow mora
ins TO select the new officers Of tie asso-
elation.
A representative OF each state was then
called upon TO give a brief statement as
10 the general condition Of business q has
locality. Marked Improvement IN bus
iness conditions with indications for bet
ter things IN future were The character
istlc features OF al state reports. Henry
". Yates, Of Nebraska, said the golden
grain OF ripening haryests in his state
did not reflect the calamity t5nt % which
the utteFaaces Of 50 many OF Us public
men and the vote Of the state last fall
had seemed 70 po4at. james FaXon. of
Chattanooga, Tenn, deFided Bryan's
claim that the price Of silver controls he
price OF wheat. and said that the recent
fan OF ore and rise of the other offered
conclusive proof Of the falsity oG that
ciaim.
hen Comptroller Eckels came forward
he WAS greeted with great applause.
Mr. Eckels began by referring 20 the
passage of the tariff bill as having rid
the country. for the time at least, Of tar
III agitation. and said:
The evidence accumulates with each
days advices that the long continued de-
preston 81 financial circles has passed,
and, thanks 70 i've years of forced econ
omy and cessation Ia speculation, coupled
WITH fodays abundant haryests a. remu-
neratlve prices to the agrieuiiurist, a new
prosperity Is coming 10 the Pc pie. This
prosperity IL IL Is to be of real worth.
ought TO be permanent in character and
reach 10 all classes and interests"
lie then dealt at Ter 9Th with the causes
OF the panic and urged conservatism in
banking and encouragement OF specula-
ton as prevenJives of It's recurrence. He
next launched into the money question and
said:
No subject for DemaHogy-
''The currency problem is the most mo-
mentoas with which the American states
man has 10 do II Is one neither OF poll
tlcs nor political pref rment. IL Is, as
hauheFs more thSh ali others ought 10
realize. one of business self-preserx att0n.
ard as such should command AZ the hands
OF those who are swora 20 guard ard pre-
serve the peoples rignts "A statemansnip
and patriotism commensurate with the
magnitude Of the Interests Involved. II
ought. as well. 20 enlist a public senti-
ment that would bring a swift punishment
upon those who attempt TO make il the
plaything az party dcslres and the subject
of neie political ofatuTy- There Is no
political legcrdemain by watch political
ps.stt ifgitAaufs can deceive The public and
substitute. without the act being inquired
iRio, other issues, Tor THAI OF sound cur
TeGcy. Neither one nor all OF them Is OF
such vital Importance as this, which
fFsrhes 20 the nations and the individuals
credit AT the bottom OF the currency
question IA its last analysis lies that OF
credit and the esteem IN which the nation
II held both at home and abroad. History,
II IL said. bears evidence that the power
OF cre4fr will hgucefoTth decide finally the
great contests OF the world Under such
"a truth Il is a bluuder worse than a
crime in those clethsd with The power OF
action 20 defer. whether from motives Of
political strategy, indifference or timidity.
taking such steps as VIII give To the coun-
iry monetary laws that will strengthen
and rot weaken its financial standing and
comport with its true power and dignity.
No system in the Currency.
zone Of the worlds most distinguished
philosophic historians has declared that
'she indispensable thing for n politician
is a knowledge of political economy and
history IL the statement De correct, re-
view OF the currency legislation 0f the
United States foT a third of a century
demonstrates how few II any politicians
In the historians sense have had to do
with Il. In AL ffs range evidence il eV-
crywheFe 20 bc had OF a disregard of the
underlying principles q political economy
and a woefui ignorance of the facts of
monetary history. An analysis Of is parts
bears testimony 70 The train OF the asser-
ton. a consideration OF the whole places
II bevCua CgViL That which Me term
our currency system l. one IN name outr.
IL lacks every element of what rightfuliy
can be called a system. il violates l1 cV-
cry essential feature vh2t IN al ether d.
parrments OF governmental affairs we
denomluate n SYSTEM. 10 Is nor au orderly
combination Of parts snto a whole accord
idea Every where there Is want of unity
and instead q presenting 70 ;hc wor 4