The age-herald., 1898-01-11
Q Matt MynOr Gently
Touches Up Jim EckeIs9 }
f sssssssssssi issssssssss Isssss sszs sss.ss.zsl

capital. In other words, no bank can lend to any one individual more than 10 per cent. Yet, in the case of MT. Singerly, he was not only taking 10 per cent. but almost the en- tire resources of the bank. He was mak- ing run on the bank to keep up his losing venture in some mammoth paper mills. The fact has lately developed that this was done by MT. Eckels authority. He knew MT. Singerly's banks were insol- vent. He has admitted now as much. When asked a few days ago why he did not close the banks in 1896, as was his hon. est and sworn duty to do, he replied by saying that the closing of MT. Singery's bank would have had a tendency to inflict injury upon other banks
 It must be remembered, however, that MT. singerly was also democratic bolter. He would not support the Chicago platform because it had not declared for "honest money" MT. Singerly only two years be- fore had been the democratic candidate for governor of Pennsylvania. National honor'' was at stake. and he could not sup port the Chicago platform While he was upholding national honor" he seems to have been robbing his own banks, or rather
  gerly became very apprehensive about the national credit, though he had no respect for the money of depositors placed in his hands for safe-keeping. MT. Singerly was a national banker. He was capitalist. The government, through MT. Eckels, as comptroller of the currency, protected him. MT. Singerly could violate every one of the banking laws and be protected by MT. x,foIo tt,er same laws that other men are now serving | terms in the penitentiary for having vio- lated MT. Singerly was the advocate of | "honest money" which was so dear to the l heart of Mir. Eckels. In favoring MT. Sin | gerly and aiding him in the violation of the | laws, MT. Eckels was violating his own | oath of office.
 | MT Eckles gave as a further excuse for not closing down MT. Singerly's banks in 1s9e, that it was in the midst of a campaign, and that to close MT. singerly's bank would be great reflection upon the cause of "honest money" MT. Singerly was supporting honest money and McKin- ley and that failure of his own bank 1 as Mr. Eckels states it, would do great harm to the cause and aid in the possible l ueledI Ol MChllicy, dud III liiS PiODd- ble election of MT. Bryan. What has been | the result? MT. Singerly's banks were al- lowed to continue in business for more than year and half after the comptroller of | the currency knew they were insolvent. If | MT. Eckles had closed MT. Singerlys banks, as an honest official would have done, when | he became informed of their actual con- dition more than eighteen months ago, the I bpaTh a great deal less than it was three weeks ago, when | MT. Singerly was forced to close his doors. | Those in Philadelphia who were in posi- tion to know the exact condition of MT. | Singerly's affairs, have made the state ment that there is no way on earth that | he will ever be able to liquidate one-half l of his just indebtedness. Hundreds of peo- 1 ple, many of them widows, had placed | their money in MT. Singerlys bank Much l of the money belonged to people who were | wholly unable to lose even dollar. MT. Singerly had used his political influence to ] secure city and state deposits-money that belonged to the people.
 James H. Eckels, late comptroller of the currency under MT. Cleveland, resigned his office on the first day of the present year.
 
 as president of bank. There, he no doubt believes. he will be able to enlarge his sphere of usefulness in upholding national honor" and establishing an honest money" standard for the American repub- lie. The conduct of MT. Eckels in the Sin
 gerly cases brand him as having been a tool in the hands of those advocating "hon-
 est money" It is safe to say that during | the last two years of MT. EclSels' official
 career he did not spend six months of it in
 his office. He was travelling about the
 country at the governments expense de-
 nouncng the democratic party and uphold
 ing, as he said, the nations honor." MT
 Eckels was more, than "boy wonder
 he was boy traitor. It is safe to say that
 if the bauk of which w. P. St. John, ot
 New York; was president had been in
 volved, as was MT. Singerly's, the doors
 would have been closed as quickly as MT,
 Eckels could have swung them shut. MT
 St. John was a. Nsw York banker, and was
 treasurer of the William J. Bryan cam | paign committee He was for honest
 money the same as MT. Eckels, but it was silver instead of gold It was the money oi | the people instead of the money of the
 bankers. It is well, indeed, that the official | career of James H. Eckels has terminated
 He was disgrace to the party of which l he claimed to have been member when
 appointed. His official conduct in the Sin | gerly cases was not the conduct of an up | right man. It is just as well to throw the
 veil over James H. Eckels. Let him be
 forever hidden from public view. If he
 does not manage his Chicago bank with
 any more regard for the majesty of the
 law than he administered the affairs of his
 office dn the cases of MT. Singerly's
 bursted banks, God pity poor people who
 deposit money in Jim Eckels' bank. Jim
 EclSels had an ambition to become a
 capitalist.
 Speaking of capitalists, of which Mir. Eek
 els is now one, recalls to mind a funny in
 cident which happened only few days age
 in one of the northern cities which would l fx,1i bot