The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-10-18

the just payment OF just taxes. they do NOT
wish to defraud labor OF any OF its rights.
they do not wish to degrade labor III any
respect. but they do demand that in the
chief executive Of this Nation there shall
be wisdom of act, wisdom OF word and
wisdom OF executive control. They are
against Mir. Bryan and Mr.. Bryan's party
because to-day K IS a party Of politicians
controlled by politicians and fer politicians
alone. and every thoughtful citizen OF the
Republic. and especially those who find
their living In the sweat Of their brow,
nay well ask themselves the question
whether their interests are better con-
served b a party controlled wholly by pol
itscians-by the Democratic party II you
please. as II stands to-day-as against a
party thae a least has gathered 10 itself
in the last campaign and in this the con-
serving influence OF a great number-in fact
OF all the business interests of the coun-
try fGreat applausel Who to-day are
the employers of labor? Are they the
organs and the AItgeIds and the Tillmans
and the Townes and the Weavers and the
Crokers? Or are they the men who In
Indianapolis and have buiIded
up the great manufacturing enterprises.
who have laid ont the great railway sys-
tens. who have laid out great water trans
portation ways. who are conducting the
great commercial enterprises of the coun-
~ys And IL these men who employ labor
have not sufficient interest at stake in
this country to preserve the wel.-being of
labor. her it is possible that those. who
have never employed labor, except as they
have had the chance distribution for their
OWE personal ACKNOWLEDGMENT Of political
Office. to do better for labor? Applause
L submit that any party that has such n
leadership TO nap out it's policies, to write
out is platforms. TO control its action
that recognizes no influence in its coun-
ellis bui politics-is not a safe party TO
trust with the affairs OF a nation ZAP
p~Iausel. complicated as they are among
seventy-six millions of people"
NATIONAL BANKS.
Mr.. Eckels then took up the subject of
national banks and demonstrated clearly
that they are the very foundation of the
business interests Of the country. He
showed tha to-day the banks OF the United
States have within their vaults the earn
ings. capital and savings OF more than
Ill A@AA0A "a
ing the enormous aggregate of 1850. 600. 600.
and hat the savings banks alone have
more than six millions of depositors. whose
deposits are in excess Of 2y500,OO0,0 O9. He
showed further that banks are or the
greatest assistance both TO business and
TO labor by gathering up within a conn
munity all the surplus OF idle capital there
I'm so that the bank may direct IL into the
proper channels OF trade and
and through its employment industries
may flourish and labor may be given en-
ployment. The speaker said that he could
recall a period In illinois when interest
was IL per cent. and that he had seen IL
sink 10 10 per cent. TO 5 per cent, TO D per
cent, to 4 per cent. and less, with the
growth and development OF the great ma
tional banking system Of the country. lie
then asked who has been benefited by this
decrease in interest IL not the merchant,
the manufactures, the laborer employed
BIZ merchant and manufacturer because
with the cheapened price which they pay
for the use Of the money which they buy
they have been enabled to enlarge their
undertaking. thereby making it possible to
employ more labor, because more laDorers
are required the larger any business
grows. Mr.. Eckels continued on this line:
MR.. BRYAN's ATTACK.
But IL is the national bank which Mr..
Bryan particularly attacks. i believe in
discussing this question. L can at least
speak with a. much experience as Mr..
Bryan. Tremendous laughter. applause
and cheers.l 1t is a system that made pos
sibIe the absorption of the bonds of this
country when the very life OF the Nation
was at stake. I~Applause.l It is a system
which, through It's uniformity of control
through it's uniformity OF method. has
cheapened the rates OF interest. lessened
the cost Of exchange. reduced the price OF
collections. and through IL all brought al
the marks OF commerce within the circle
of a very narrow circumference. 1t is a
system than which no better banking sys-
TEN has been devised In any country. Zap
plause.1 1t Is a system which. l venture &c
say, has within those who manage IL and
its affairs as much patriotism as the great
tribune OF the people himself. or his con
ndential friend and adviser. Richard Gro
ker. ~IApp.ause.1 When was this country
ever In financial distress. either In time:
of war at horne or abroad, or In the pipins
times OF peace, that the banker of the
country did not place at the disposed of the
government his deposit, that the credit Of
the government might remain intact and
the financial sOivency or the government
not be attacked? lGreat applause-l Wher
others doubted the solvency of the Treas
ury Department at Washington and were
withdrawing money to hoard against 9
day Of bankruptcy the banker, full firm In
his belief IN the integrity Of the Natior
and the honesty OF the people. placed hi:
all at the disposal of the government OF
the United states. IApplauSe.I Yet this
man is going up and down the country, q
common disturber of the public peace. anC
~denouncing the banker as unpatriotic
while ne himself. a peripatetic candidate fol
office. seeks the suffrages of the people
Laughter and applause.l
In REGARD 70 TRUSTS.
Mr.. Eckels's argument on the issue o.
trusts was very thorough and interesting
On this point he said In part:
-.
thing Combinations are old as time itself
Properly understood that which Mr.. Bryan
denounces as a trust. Is simply a con
centration of capita or labor or the con
centTation of capital and labor, united fol
the common purpose of bringing about tn,
common good. In political life such
union takes the form OF a government OF
community. In transportation il takes thu
form OF railroad and steamboat lines. II
III anxrrn HanEnan